{
}
Solv Protocol is set to launch its native token, SOLV, on Hyperliquid, a layer-1 blockchain focused on trading, marking one of the first token launches on its spot exchange. The specific launch date is yet to be announced, and Solv has invested approximately $130,000 for the listing slot through a Dutch auction process.Hyperliquid has garnered over $2.5 billion in total value locked since its May launch and specializes in leveraged trading. Solv, which manages over $3 billion in total value locked, offers Bitcoin staking across various blockchain networks and aims to create a yield-bearing Bitcoin reserve in DeFi.
BOB, a hybrid layer-2 network, has integrated with the $6 billion BTC restaking protocol Babylon to enhance Bitcoin's role in decentralized finance (DeFi). This partnership aims to provide "Bitcoin finality" for transactions, allowing assets from other chains to be verified on Bitcoin. Babylon, the leading Bitcoin staking project, recently increased its total staked BTC to 57,290, positioning itself among the top 10 protocols by total value locked. BOB plans to launch bridges to other networks using BitVM, with a testnet release expected in Q1 2025.
Babylon has successfully attracted $3.5 billion in staked Bitcoin for its native staking protocol, which aims to enable decentralized finance (DeFi) on the Bitcoin network without requiring trust in third parties. Co-founder Fisher Yu emphasized that this innovation allows users to maintain control over their Bitcoin while securing a new proof-of-stake blockchain. Despite the promise of trustlessness, Yu acknowledged that Bitcoin DeFi could face similar vulnerabilities as existing DeFi ecosystems, including potential hacks and exploits.
DeFi's total value locked (TVL) surged 150% in 2024, reaching $133.88 billion, approaching the 2021 peak of $170 billion. EigenLayer leads restaking with $17 billion TVL, while Lido dominates with nearly $40 billion. The rise of liquid restaking tokens and Bitcoin layer 2 networks significantly contribute to this growth.
Babylons USD
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
solv protocol to launch native token on hyperliquid bitcoin staking platform
20:18 19.12.2024
DeFi on Bitcoin Gains Momentum with BOB and Babylon Integration
21:36 18.12.2024
Babylon raises 3.5 billion dollars for innovative Bitcoin staking protocol
09:57 12.12.2024
decentralized finance total value locked surges to 133 billion in 2024
23:07 09.12.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Finance Mergers & Acquisitions
Industry Mergers & Acquisitions
Financial Scams and Security
Market Analysis and Predictions
Global Financial Events
Retail and Consumer Goods
Global Trade Developments
Banking Regulations
CEO Changes
AI Innovations
Supply Chain Management
Hedge Funds & Private Equity
Central Bank Actions
Startups & Entrepreneurship
Funding Rounds & Investments
Energy Sector Developments
Workplace Trends
Countries:
Companies:
Barclays PLC
NVIDIA Corporation
Tesla, Inc.
JPMorgan Chase & Co.
Morgan Stanley
Apple Inc.
The Goldman Sachs Group, Inc.
Capital One Financial Corporation
Wells Fargo & Company
Huawei Technologies CO. Ltd.
Bank of America Corporation
UBS Group AG
UniCredit S.p.A.
Tesmec S.p.A.
Banco BPM S.p.A.
Deutsche Bank RV Global PP
HSBC Holdings plc
Netflix, Inc.
Citigroup Inc.
The Charles Schwab Corporation
Currencies:
United States Dollar
Euro
Indian Rupee
Chinese Yuan
Swiss Franc
British Pound Sterling
United Arab Emirates Dirham
Japanese Yen
Hong Kong Dollar
Danish Krone
South Korean Won
Canadian Dollar
Singapore Dollar
Australian Dollar
Offshore Chinese Yuan
Russian Ruble
Vietnamese Đồng
Brazilian Real
Colombian Peso
Malaysian Ringgit
People: