DeFi.Gold and Babylonchain form a Strategic Alliance to Enable Bitcoin Staking and Yield 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 yields on other blockchains supported by Babylon, directly on the DeFi.Gold DEX.

Empowering 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 at the end of June 2024.

This integration allows users to benefit from DeFi.Gold’s scalability and efficiency while earning altcoin yields, opening new avenues for producing yields and enhancing ecosystem security.

“We are thrilled to join forces with Babylon. This integration enhances our platform’s capabilities, offering our users new opportunities for participating in staking yields on many networks with BTC while contributing to their network security.” – 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 enhanced scalability, efficiency, and advanced features. Supporting Taproot, RGB, and Rune-based tokens for its swap exchange, it enables trading of various assets, including memecoins, utility tokens, DAO tokens, and stablecoins. Its NFT marketplace enhances liquidity for creators and collectors.

The platform integrates with major Bitcoin web wallets and supports Lightning Network transactions for fast, low-cost operations. DGOLD, the governance token, empowers 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 U.S. Academy of Engineering. He is renowned 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 scale Bitcoin to secure the decentralized world. To achieve this, Babylon utilizes the three primary facets of Bitcoin: its asset, its reliable timestamping service, and its most censorship-resistant blockspace in the world. To leverage these facets, Babylon is developing three innovative security-sharing protocols: Bitcoin Staking Protocol, Bitcoin Timestamping Protocol, and Bitcoin Data Availability Protocol. Through 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 current management expectations. These statements are not guarantees of future performance and involve risks and uncertainties. DeFi.Gold assumes no obligation to update these statements.

The post DeFi.Gold and Babylonchain form a Strategic Alliance to Enable Bitcoin Staking and Yield on Other Blockchains appeared first on CryptoPotato.

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