BingX Labs, the innovative arm of BingX dedicated to identifying and nurturing promising blockchain ventures, announced its strategic participation with Babylon, an innovative project in the Bitcoin DeFi and Layer 2 ecosystem.
With $5.3 million injection in Babylon Cap 3, its 3rd staking program, through BingX Labs’ $100M Ecosystem Fund, Babylon is set to bridge Bitcoin’s security with Proof-of-Stake networks, enabling BTC holders to securely stake and enhancing PoS chain resilience.
Babylon focuses on securely introducing Bitcoin to PoS ecosystems, enabling Bitcoin holders to earn reliable yields without compromising security. Its upstream service uses UTXO native locking to ensure assets remain securely under users’ control. On the downstream side, Babylon bolsters PoS chain security by preventing long-range attacks while simplifying access to staking for Bitcoin holders and Web3 users alike.
Users can benefit from Babylon’s integration in multiple tangible ways. Bitcoin holders can earn staking rewards securely without transferring their assets, thanks to the UTXO-based locking mechanism. This approach ensures full control over their BTC while enabling passive income opportunities. Users of PoS chains also benefit from enhanced security, reducing the risks of network attacks. Web3 enthusiasts gain a simplified and reliable way to participate in staking and DeFi activities, creating more opportunities for growth and diversification within the ecosystem.
“Our injection with Babylon reflects our shared vision to empower innovation and lower entry barriers in the blockchain space,” said Vivien Lin, Head of BingX Labs and Chief Product Officer of BingX. “For our users, this means safe and seamless access to staking opportunities and improved security, so it is a natural extension of our commitment to delivering smarter and safer tools for our crypto investors.”
BingX Labs’ support for Babylon is a decisive step toward unlocking greater security, accessibility, and innovation in the blockchain landscape. By linking Bitcoin’s robust network with Proof-of-Stake systems, both of them are driving a new era of decentralized finance that empowers users, fosters trust, and expands opportunities for growth.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: website
Disclaimer
This article contains a press release provided by an external source and may not necessarily reflect the views or opinions of BeInCrypto. In compliance with the Trust Project guidelines, BeInCrypto remains committed to transparent and unbiased reporting. Readers are advised to verify information independently and consult with a professional before making decisions based on this press release content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
