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Bitcoin Restaking Comes to Sui with SatLayer Integration

Author: Content Editor
SatLayer, a Bitcoin restaking platform, has announced that it will extend Bitcoin's use in decentralized finance (DeFi) to Sui, a fast layer-1 blockchain. The integration will allow developers to utilize Bitcoin's $2.1 trillion market cap in building DeFi applications on Sui's network, which already has a budding DeFi ecosystem. SatLayer's integration with Sui will provide developers with more tools and flexibility, combining the security and size of Bitcoin with the speed and scalability of Sui. SatLayer is deployed on Babylon, a platform that offers security to proof-of-stake networks by incentivizing users to lock up their Bitcoin. The integration also brings programmable slashing to the staking protocol, allowing for penalties for malicious or negligent behavior. Babylon Chain has already attracted 57,300 BTC worth $6 billion. SatLayer's concept is similar to EigenLayer, an Ethereum-based protocol that allows users to rehypothecate their staked Ethereum for additional yield. Binance has announced support for Babylon staking through its "On-chain Yields" product. Babylon raised $70 million in funding, while SatLayer raised $8 million.

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