The Babylon Protocol, launched in August 2024, allows users to stake Bitcoin (BTC) and earn passive income while maintaining self-custody security. The protocol leverages Bitcoin timestamps to lock BTC units in a self-custody wallet, providing security through two potential triggers: unlocking the Bitcoin in three days in the case of honest unstaking or sending the BTC to a burn address in the case of malicious behavior. The protocol has nearly $6 billion worth of BTC locked. Building on this, liquid staking protocols like Lombard, Solv Protocol, PumpBTC, Lorenzo, and Bedrock have emerged, allowing users to stake their liquid-staked tokens for further financial applications. Pell Network is the first Bitcoin restaking protocol with a presence in over 18 blockchains and allows users to stake their liquid staking derivatives (LSDs) and generate yield and passive income. Pell Network recently raised $3 million in a private funding round and is preparing to launch its native token, PELL. The token will be launched via the xLaunchpad platform on the MultiversX blockchain. However, it is important to note that earning passive income through staking and restaking comes with risks, including potential vulnerabilities in each protocol and the speculative nature of participation in PELL's token launch.



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