TL;DR
- SatLayer integrates with the Sui blockchain to expand Bitcoin’s use in DeFi applications, allowing developers to secure dApps with Bitcoin’s value and security.
- The collaboration strengthens the security of decentralized applications on Sui, a blockchain focused on fast transactions and scalability.
- SatLayer, which focuses on Bitcoin restaking, partners with Babylon Labs and aims to replicate the success of platforms like EigenLayer.
SatLayer has announced its integration with the Sui blockchain, with the goal of expanding Bitcoin’s use in the decentralized finance (DeFi) ecosystem.
This collaboration will allow developers to leverage Bitcoin’s value and security to secure decentralized applications (dApps) on the Sui network, which is known for its fast transactions and high scalability. According to SatLayer’s representatives, the integration will provide developers with new tools to take advantage of Bitcoin’s $2.1 trillion market capitalization in the creation of DeFi applications, eliminating the need for intermediaries in areas like trading and lending.
Sui, a blockchain launched last year, is already established in the DeFi sector. It has a team of 150 developers who have actively worked on its growth in 2024. Jameel Khalfan, the Global Head of Ecosystem at Sui Foundation, stated that the integration of SatLayer will strengthen DeFi applications’ security and open the door to new use cases and more opportunities for users and developers.
SatLayer Announces an Alliance with Babylon Labs
SatLayer focuses on restaking, allowing users to lock up their Bitcoin to earn yields and secure DeFi networks. The platform is deployed on Babylon, another blockchain that provides security to proof-of-stake networks. However, the collaboration with Sui is a milestone in the use of Bitcoin for this type of decentralized application. The protocol has announced an “alliance” with Babylon Labs, aimed at expanding its use in securing decentralized applications and infrastructure networks.
Restaking has gained significant relevance due to the success of platforms like EigenLayer, which allows Ethereum users to earn additional yields through the restaking of their ETH. SatLayer seeks to replicate this model on the Bitcoin network, enabling users to leverage their capital to efficiently secure applications. On the other hand, Babylon has grown significantly, securing over $3.6 billion in deposits.
Additionally, the support of major platforms like Binance, which has integrated Babylon staking through its “On-chain Yields” product, is proof of the clear interest in restaking and security within the DeFi ecosystem