Axelar Network, the leading Web3 -interoperability platform, has announced a collaboration with Babylon Genesis, a blockchain that supports Native Bitcoin deployment. This integration brings Babylon Genesis into more than 70 blockchain networks. Bitcoin holders can now use their Bitcoin for multiple decentralized systems and earn rewards.
The cooperation between Babylon Genesis and Axelar is intended to transform decentralized financing by using Bitcoin’s stability and liquidity. The Babylon Genesis Strike Protocol ensures that Bitcoin-holders can earn rewards without the need for storage, bridges or packaging services from third parties. This development integrates Bitcoin’s high level of security in POS networks, low 2 solutions and layers for data availability, which further improves the usefulness of Bitcoin in a decentralized world.
Various teams in the Babylon ecosystem, including Etherfi, Kinza, Lorenzo and Tower, have already integrated Axelar in their platforms. The integration makes the development of Bitcoin-based decentralized applications possible that benefit from improved scalability, security and interoperability of cross-chain.
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