DeFi
DeFi.Gold and Babylonchain form strategic alliance to enable Bitcoin staking and yielding on other blockchains
[PRESS RELEASE – Georgetown, Cayman Islands, June 7th, 2024]
DeFi.Gold, a leading decentralized exchange (DEX) and NFT marketplace on the Bitcoin blockchain, announces a strategic alliance with Babylonchain. This integration, available by Q4 2024, will allow DeFi.Gold users to stake Bitcoin (BTC) and earn native returns on other Babylon-supported blockchains, directly on the DeFi.Gold DEX .
Strengthening decentralized finance
DeFi.Gold is at the forefront of innovation, developing one of the first DEXs for Bitcoin assets following the Ordinals, Runes, Taproot Assets and RGB protocols, with a planned release in late June 2024.
This integration allows users to benefit from the scalability and efficiency of DeFi.Gold while earning altcoin yields, opening new avenues to produce yields and improve the security of the ecosystem.
“We are delighted to join forces with Babylon. This integration enhances the capabilities of our platform, providing our users with new opportunities to participate in staking returns across multiple networks with BTC while contributing to the security of their network. – Mona Coyle, CEO of DG Labs Ltd.
About DeFi.Gold
DeFi.Gold is revolutionizing the Bitcoin blockchain with its non-custodial decentralized exchange (DEX) and NFT marketplace. Built on Bitcoin’s L1 and Lightning network, it offers improved scalability, efficiency and advanced features. Supporting Taproot, RGB and Rune based tokens for its swap exchange, it allows the exchange of various assets including memecoins, utility tokens, DAO tokens and stablecoins. Its NFT marketplace improves liquidity for creators and collectors.
The platform integrates with leading Bitcoin web wallets and supports Lightning Network transactions for fast, low-cost trading. DGOLD, the governance token, enables community-led decisions, driving innovation in decentralized finance on the Bitcoin blockchain.
About Babylon
Babylon is a blockchain project that designs security sharing protocols for the decentralized world, founded in 2022 by Stanford Professor David Tse and Dr. Fisher Yu. Professor Tse is a member of the American Academy of Engineering. He is recognized as the inventor of the legendary proportional-fair scheduling algorithm for wireless communications and is the recipient of prestigious awards such as the IEEE Claude E. Shannon Award and the IEEE Richard W. Hamming Medal. The project is led by a team of consensus protocol researchers and experienced layer 1 engineers from around the world.
Babylon’s mission is to evolve Bitcoin to secure the decentralized world. To achieve this, Babylon uses the three main facets of Bitcoin: its asset, its reliable timestamping service, and its most censorship-resistant block space in the world. To exploit these facets, Babylon is developing three innovative security sharing protocols: Bitcoin Staking Protocol, Bitcoin Timestamping Protocol and Bitcoin Data Availability Protocol. With these pioneering protocols, Babylon envisions a more secure and decentralized future.
Media Contact:
For DG Labs Ltd. (DeFi.Gold):
Email: info@defi.gold
Website: www.defi.gold
X: https://x.com/TeamDefiGold
For Babylonchain:
Email: swood@babylonchain.io
Website: www.babylonchain.io
X: https://x.com/babylon_chain
This press release contains forward-looking statements based on management’s current expectations. These statements are not guarantees of future performance and involve risks and uncertainties. DeFi.Gold undertakes no obligation to update these statements.
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