tl;dr
BingX Labs, the innovative arm of BingX, has announced its strategic participation with Babylon, a project in the Bitcoin DeFi and Layer 2 ecosystem. Through BingX Labs' $100M Ecosystem Fund, Babylon received a $5.3 million injection for its 3rd staking program. Babylon aims to bridge Bitcoin's secu...
BingX Labs has announced its strategic participation with Babylon, a project in the Bitcoin DeFi and Layer 2 ecosystem. Through BingX Labs' $100M Ecosystem Fund, Babylon received a $5.3 million injection for its 3rd staking program. The initiative aims to bridge Bitcoin's security with Proof-of-Stake networks, enabling BTC holders to securely stake and enhancing PoS chain resilience.
This collaboration provides various benefits for Bitcoin holders, PoS chain users, and Web3 enthusiasts, reflecting a shared vision to empower innovation and lower entry barriers in the blockchain space. Babylon focuses on securely introducing Bitcoin to PoS ecosystems, enabling Bitcoin holders to earn reliable yields without compromising security.
Users can benefit from Babylon’s integration in multiple tangible ways, such as earning staking rewards securely without transferring their assets, enhanced security for PoS chain users, and a simplified and reliable way for Web3 enthusiasts to participate in staking and DeFi activities.
Vivien Lin, Head of BingX Labs and Chief Product Officer of BingX, stated, “Our injection with Babylon reflects our shared vision to empower innovation and lower entry barriers in the blockchain space. For our users, this means safe and seamless access to staking opportunities and improved security, so it is a natural extension of our commitment to delivering smarter and safer tools for our crypto investors.”
BingX Labs’ support for Babylon is a decisive step toward unlocking greater security, accessibility, and innovation in the blockchain landscape. By linking Bitcoin’s robust network with Proof-of-Stake systems, both entities are driving a new era of decentralized finance that empowers users, fosters trust, and expands opportunities for growth.
Founded in 2018, BingX is a leading crypto exchange serving over 10 million users worldwide. Committed to providing a trustworthy platform, BingX offers diversified products and services, designed for the evolving needs of users, from beginners to professionals.
In 2024, BingX became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
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