Babylon raised the deposit limit at 4 am on October 9 and ended at around 8 am.
How to say it, this data is too explosive!
10 blocks, about 4 hours, 22,800 BTC pledged~
Where should the LST go after staking?
It is recommended to go with @satlayer re-staking agreement to increase income.
You can get points rewards from satlayer, as well as points rewards from Babylon's BBN and other projects.
Next, focus on today's protagonist - @SatLayer
1/What is SatLayer?
Last year, EigenLayer introduced "re-staking" to ETH, allowing the pledged $ETH to be "re-staking" to obtain additional income, while providing security for security demanders.
Similar to Eigenlayer, SatLayer is built on Babylon, which introduces $BTC "re-staking" to the BTC network, allowing $BTC stakers to obtain additional benefits and provide security as a Bitcoin verification service.
2/Funding
On August 22, Satlayer announced the completion of $8 million in Pre-Seed financing, led by Hack VC and Castle Island Ventures.
3/Early Bird Rewards Program
Satlayer's Early Bird Rewards program was released at the same time as the financing announcement.
The program is in the second phase of the first season, with a BTC deposit cap of 400 BTC, which has now reached 372 BTC.
In addition to obtaining SatLayer points, points will be rewarded for re-staking with LST partners.
4/How to participate?
Hold selected BTC LST and deposit it to https://tinyurl.com/ukongsatlayer to obtain Early Bird rewards.
5/Satlayer income sources, ensuring Early Bird rewards
- $BTC staking income from Babylon.
- Additional re-staking income from Satlayer BVS.
- Combinatorial use of satAssets in other BTCFi to generate more income.
- Satlayer Early Bird rewards, and possible token rewards in the future.
- Points from participating in the protocol, which can be used to mint satAssets.
6/Roadmap
SatLayer is currently in the core development stage, focusing on completing its BVS SDK and security layer. SatLayer aims to fully launch Devnet, Testnet, and Mainnet by 2025.
7/Important links
âą Website: https://satlayer.xyz/
âą Twitter: https://x.com/satlayer
âą Staking page: https://tinyurl.com/ukongsatlayer
âą Guide: https://blog.satlayer.xyz/tag/guides/
