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DeFi.Gold, a prominent decentralized exchange (DEX) and NFT marketplace on the Bitcoin blockchain, has just announced a groundbreaking partnership with Babylonchain. This strategic alliance, set to be implemented by Q4 2024, will enable users of DeFi.Gold to stake Bitcoin (BTC) and earn native yields on various blockchains supported by Babylon directly through the DeFi.Gold DEX.
The integration with Babylonchain marks a significant step forward for DeFi.Gold, positioning the platform as a leader in empowering decentralized finance. By leveraging the scalability and efficiency of DeFi.Gold, users will now have the opportunity to earn altcoin yields while contributing to network security, creating new avenues for yield generation within the ecosystem.
Mona Coyle, CEO of DG Labs Ltd, expressed excitement about the partnership, stating, “We are thrilled to join forces with Babylon. This integration enhances our platform’s capabilities, offering our users new opportunities for participating in staking yields on many networks with BTC while contributing to their network security.”
DeFi.Gold is known for its innovative approach to the Bitcoin blockchain, offering a non-custodial DEX and NFT marketplace built on Bitcoin’s L1 and Lightning Network. With support for Taproot, RGB, and Rune-based tokens, the platform enables trading of a wide range of assets, including memecoins, utility tokens, DAO tokens, and stablecoins. The integration with Babylonchain further enhances the platform’s functionality and opens up new possibilities for users.
Babylon, founded in 2022 by Stanford Professor David Tse and Dr. Fisher Yu, is a blockchain project focused on developing security sharing protocols for the decentralized world. The project aims to scale Bitcoin to secure the decentralized world by leveraging innovative security-sharing protocols such as the Bitcoin Staking Protocol, Bitcoin Timestamping Protocol, and Bitcoin Data Availability Protocol.
Overall, the partnership between DeFi.Gold and Babylonchain represents a significant milestone in the evolution of decentralized finance on the Bitcoin blockchain. With new opportunities for staking and earning yields across multiple blockchains, users can look forward to a more robust and secure decentralized ecosystem.