Babylon Labs and Lombard Protocol have joined forces to introduce liquid Bitcoin
As stated by Sui on X, Bitcoin owners using the Sui network will have the option to stake their BTC through Babylon, a Layer-2 Bitcoin network. This staking process will enable them to mint LBTC, a liquid staking token developed by the Lombard Protocol.
LBTC is set to play a crucial role as a versatile asset within Sui’s DeFi framework, promoting activities like lending, borrowing, and trading. The broader vision involves tapping into Bitcoin’s $1.8 trillion market liquidity to support Sui’s financial ecosystem.
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This initiative indicates a commitment to creating a space for Bitcoin holders to maximize the utility of their assets. By using LBTC, users will gain new opportunities to engage in on-chain financial operations.
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