BOB Launches One-Click Bitcoin Staking Portal and SDK for BTC Liquid Staking
BOB Stake seamlessly connects Bitcoin stakers with leading BTC liquid staking providers, streamlining the on-ramping process and directly integrating a multi-billion dollar market into BOB’s thriving DeFi ecosystem.
LONDON, Sept. 16, 2024 /PRNewswire/ — BOB (“Build on Bitcoin“), a first-of-its-kind hybrid Layer-2 combining the best of both Bitcoin and Ethereum, announced the launch of BOB Stake – a revolutionary new product enabling one-click Bitcoin (BTC) staking into a wide variety of BTC Liquid Staking Tokens (LSTs). These LSTs can be used across lending, borrowing, BTC-backed stablecoins and other DeFi protocols to further maximize the value of staked BTC. This marks a significant advancement in the Bitcoin staking ecosystem, making BOB the go-to platform for BTC staking and DeFi.
BOB Stake provides one-click access to Bitcoin staking products, featuring Babylon Bitcoin Staking as the core staking layer. It also supports LSTs (Liquid Staking Tokens) built on Babylon, including Solv, Bedrock, Chakra, and PumpBTC, with many more to come. BOB Stake is also the BTC staking partner of choice for multiple aggregators and wallets, including stakingrewards.com and their 3M+ users. Supported by best-in-class infrastructure partners such as Cobo, Dynamic, fBTC, wBTC, tBTC, and integrating prominent DeFi platforms including Sovryn, Layerbank, and many others, BOB Stake ensures that BTC LSTs on BOB can be utilized across the full DeFi landscape.
Liquid staking has been a huge success on Ethereum: the ability to claim staking rewards and simultaneously use the ETH LSTs in DeFi as collateral and for trading has created $32B in TVL. With Bitcoin‘s trillion dollar market versus Ethereum‘s 300 billion, the potential for BTC liquid staking could be far greater. With the introduction of BOB Stake, users can stake BTC in a single Bitcoin transaction, significantly reducing the time and cost compared to existing staking methods.
Alexei Zamyatin, co-founder of BOB shared, “One click to stake them all. With the launch of BOB’s new BTC liquid staking portal and SDK, we are making it easier for users to stake their BTC in just one step. This milestone furthers our position as the main hub for Bitcoin liquid staking – setting DeFi projects on BOB to become the powerhouse of BTCFi.”
BOB Stake can be seamlessly integrated by staking providers, wallets and staking aggregators to give their users access to one-click BTC staking. For wallets and staking websites, BOB Stake is a single integration, enabling access to dozens of BTC staking products and improving the user experience. For LST providers, BOB Stake offers greatly improved on-ramping UX as well as access to a large user base across the integrated wallets and aggregators. And for DeFi protocols on BOB, there is potential access to billions of dollars of staked BTC as the backbone of a booming Bitcoin DeFi ecosystem.
Under the hood, the one-click BTC staking product is powered by BOB Gateway, a novel Bitcoin intents bridge launched by BOB in June this year. BOB Gateway simplifies Bitcoin DeFi and staking deployments into a single BTC transaction, solving one of Bitcoin‘s biggest pain points: UX. BOB Gateway uses cross-chain intents and Bitcoin light-client verification to ensure a completely trustless experience for users.
The launch of BOB Stake also coincides with the third and final season of BOB Fusion, the early access points campaign. This marks the community’s final opportunity to become early adopters of BOB’s Bitcoin ecosystem of 100+ projects, with the highest multipliers available for liquid staking assets. The final season of BOB Fusion will start later in September.
About BOB (“Build on Bitcoin“)
BOB (“Build on Bitcoin“) is a first-of-its-kind hybrid Layer-2 powered by Bitcoin and Ethereum. By combining the security, liquidity, userbase, and innovation of the two largest blockchain ecosystems, BOB closes the gap between Bitcoin as a vehicle for mass adoption and Ethereum as a hub for innovation. This is achieved through BOB’s rollup ecosystem that will use Bitcoin for security while enabling users to access all the on and off-ramps, dapps, stablecoins, NFTs, DeFi, etc. made possible by Ethereum‘s EVM. BOB is backed by Castle Island Ventures, Coinbase Ventures, Mechanism Capital, Bankless Ventures, and other high-profile VCs and is positioned to become the most secure and accessible Layer-2 for builders and users.
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SOURCE Build on Bitcoin
