According to BOB’s announcement shared with Bitcoin.com News, the partnership marks a significant development in BOB’s roadmap, enhancing its decentralized finance (defi) offerings. The collaboration allows BOB to adopt Bitcoin finality, a key component in ensuring transaction security.

Babylon’s technology enables users to stake bitcoin (BTC) directly on the Bitcoin blockchain without bridging or wrapping assets. This approach leverages Bitcoin’s security while facilitating reward generation for staking participants. Babylon’s integration is part of BOB’s Phase 2 roadmap, expected to roll out in early 2025.

BOB plans to use this integration to promote BTC Liquid Staking Tokens (LSTs), unlocking additional liquidity in decentralized finance (defi). Currently, BOB hosts a $200 million defi ecosystem, featuring Babylon-backed LSTs such as Solv, Bedrock, and PumpBTC. The platform’s BOB Stake feature simplifies access to staking products, enabling users to stake bitcoin through a single transaction.

The announcement details that a notable addition to BOB’s ecosystem is Lombard’s LBTC, the largest BTC LST with a $1.5 billion total value locked (TVL). BOB becomes the fourth platform to host LBTC, after Ethereum, Base, and BSC. The move is expected to attract further bitcoin liquidity into BOB’s ecosystem, solidifying its position as a hub for bitcoin-centric defi.

For the next 45 days, the team disclosed that BOB users will benefit from increased Babylon staking rewards, incentivizing the adoption of the platform’s LST offerings. BOB’s team believes the limited-time opportunity follows Babylon’s recent successful staking cap expansions. BOB’s announcement coincides with a period of heightened interest in BTC L2 solutions and sidechains.

With BOB’s $200 million in total value locked (TVL), it ranks as the sixth-largest Bitcoin L2 or sidechain by TVL according to defillama.com stats. The leading position belongs to CORE, with $868.19 million, followed by Bitlayer at $505.82 million, Bsquared with $334.9 million, Rootstock at $229.5 million, and AIlayer with $211.11 million. Babylon, in comparison, has a TVL of $5.553 billion as of today.

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