BOB (Build on Bitcoin), a hybrid layer-two (L2) solution integrating Bitcoin and Ethereum, has launched BOB Stake, a new one-click bitcoin staking product. The platform allows users to stake bitcoin (BTC) and use Liquid Staking Tokens (LST) on decentralized finance (defi) applications.
BOB Introduces Bitcoin Staking Portal and One-Click SDK
According to an announcement shared with Bitcoin.com News, BOB Stake allows users to participate in bitcoin staking with a single transaction. By partnering with multiple staking providers, wallets, and aggregators, BOB seeks to simplify the staking process and improve the overall user experience. The system is compatible with LSTs built on Babylon, such as Solv, Bedrock, and Chakra, and can be used for lending, borrowing, and BTC-backed stablecoins on decentralized finance (defi) platforms.
The BOB development team revealed that their infrastructure partners include Cobo, Dynamic, and FBTC. BOB’s bitcoin investment project aims to replicate the success of Ethereum’s liquidity staking, which has amassed $32 billion in total value locked (TVL). BOB’s founders believe that bitcoin’s larger market cap could potentially allow their liquidity staking market to surpass Ethereum’s.
BOB Stake is designed to make staking more accessible by reducing both the costs and time involved, providing an attractive option for BTC holders looking for yield opportunities in the defi space. “It only takes one click to stake everything,” Alexei Zamyatin, co-founder of BOB, explained on Monday. “With the launch of the BTC staking portal and BOB’s new SDK, we are making it easier for users to stake BTC in just one step.”
Additionally, the BOB Gateway, which was introduced earlier this year, enables one-click staking. Monday’s announcement outlines how the system leverages Bitcoin intents and cross-chain solutions to deliver a secure and streamlined staking experience. BOB also shared that its community will soon have their last chance to get in on the ecosystem early with the final season of the BOB Fusion campaign.
What do you think about Bitcoin L2 BOB and its new staking solution? Please share your thoughts and opinions on this topic in the comments section below.
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