Programmable BTC Now a Reality
this Sui Foundation announced a partnership with Babylon Labs, Lombard Protocol, and Cubist to integrate Bitcoin into the Sui ecosystem.
The partnership will bring programmable Bitcoin capabilities to Sui and leverage its high-performance Layer-1 (L1) blockchain to unlock Bitcoin’s $1.8 trillion liquidity for decentralized finance (Decentralized Finance).
Unleashing the potential of Bitcoin on Sui
This development marks the beginning of Bitcoin (Bitcoin) holders and the broader blockchain community. Bitcoin’s Safety Liquidity combined with Sui’s programmability and composability can redefine how digital assets interact in decentralized systems.
Starting in December, Bitcoin holders will be able to stake their BTC through the Babylon staking protocol. In return, they will receive LBTC, a liquid staking token minted natively on Sui by Lombard Protocol. LBTC has become the cornerstone of the Ethereum DeFi ecosystem, with minted assets exceeding $1 billion. It actively serves lending and trading applications.
This move aims to replicate and expand Sui’s success, with LBTC becoming the core asset of its DeFi ecosystem. By staking Bitcoin, users can unlock their value without sacrificing liquidity or security. This is in line with the growing trend of integrating Bitcoin into programmable ecosystems.
“Bringing BTC to Sui is a natural fit. Through this collaboration, users from all blockchain ecosystems can come to Sui to participate in a thriving financial ecosystem in which Bitcoin will play a key role.” Sui Foundation Ecosystem said Jameel Khalfan, System Development Supervisor. explain.
Cubist is a new infrastructure provider that will ensure seamless integration with a powerful deposit, staking, minting and bridging framework. Babylon Labs and Lombard have already demonstrated the power of Bitcoin liquidity on Ethereum, and now that success is extending to Sui. Fisher Yu, co-founder and CTO of Babylon Labs, underscored their vision by building programmable Bitcoin use cases.
“Babylon builds native use cases for BTC, bringing the security and liquidity of Bitcoin to decentralized systems. We are excited to achieve this goal on Sui,” said Yu.
This integration aligns perfectly with Sui’s mission to enhance the utility of digital assets. By combining Bitcoin’s unparalleled liquidity with Sui’s programmability, this partnership has the potential to drive adoption. It can attract developers, users and institutional participants to join the Sui ecosystem.
The evolving Sui ecosystem
Sui’s ecosystem is constantly growing, with key developments enhancing its reputation as a top blockchain. Among them is the recent Strategic partnership with Franklin Templetona global investment firm. The partnership will explore blockchain-based solutions for financial markets. This collaboration reflects Sui’s commitment to combining traditional finance (TradFi) with blockchain technology.
Likewise, novel use cases for the network have since come into focus. BeInCrypto reports Chirp launches first decentralized physical infrastructure (DePIN) game on Suireflecting its versatility. this Make money while playing This model combines blockchain technology with real-world applications to enhance user engagement.
Still, while the Sui Foundation’s achievements are laudable, the road hasn’t been easy. recent, Sui encountered a network outage Caused by an error that temporarily interrupts operation.
The foundation acted quickly to resolve the issue, demonstrating its commitment to reliability and transparency. However, this incident serves as a reminder that even leading blockchain platforms must continually prioritize robustness and scalability.
As Sui taps into Bitcoin’s massive liquidity, its ecosystem is expected to grow exponentially. Collaborations with Babylon Labs, Lombard, and Cubist enhance Sui’s DeFi offerings while setting the benchmark for interoperability and innovation across blockchain platforms.
Despite news of this consolidation, Sui’s power token SUI has fallen nearly 6% since Tuesday’s open. BeInCrypto data programme As of this writing, SUI is trading at $3.22.
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