Satlayer, a Bitcoin (BTC) utility and security platform, has launched the “phase I” of his mainnet, as well as Cube, a Babylon Genesis (Baby) liquid solution, according to the latest reports that are shared with Finbold with Finbold on Friday 11 April.
Satlayer is launched with more than $ 250 million in BTC Deposited and lays a stronger foundation for Bitcoin Decentralized Finance (Defi) and helps BTC to transform into a programmable active with more use in the ecosystem.
By doing this, Satlayer also unlocks dollars of inactive bitcoin to give nation states, institutions and individual traders more options.
Bitcoin -Liquidity and Security
As a decentralized repairing app on Babylon, Satlayer helps BTC -Liquidity and Security characteristic of Layer 1 and (L1) Low 2 (L2) chains to decentralized applications (DAPPs) and infrastructure.
Starting with Babylon Genesis and preparation to support other leading L1/L2 ecosystems in the future, Satlayer promises use cases such as non-questionable loans, oblique insurance and prime brokerage on the chain.
To support the launch of Babylon Genesis and his native baby token, Satlayer Cube has developed, a Babylon-Native liquid insert solution that enables users to receive baby in the liquid and Cbaby, a liquid input that.
Cbaby token utility
CBABY can be used to earn extra rewards when they are deposited in satayer and current defic protocols such as Tower, a Babylon Genesis Decentralized Exchange (DEX) or Lending protocols.
Luke Xie, co-founder of Satlayer, also noticed the desire of the team to stimulate adoption with token:
“In addition to native baby effort, the introduction of CBABY with the launch of Cube creates a multiplication effect on the efficiency of the baby and the generation of yield. Our goal is to connect the wider ecosystem in a way that scales the safety in addition to adoption.”
Because Cube is being built on Babylon Genesis, users can strengthen the security of the ecosystem by turning off and at the same time supporting the growth of both satlayer and Babylon Genesis and earning rewards.
