Babylon Labs and Fiamma, a Lightspeed Faction-backed platform targeted on unlocking real-world property on Bitcoin, are teaming as much as promote a BTC-secured decentralized world.
In response to a press launch, Fiamma has secured a strategic funding from Babylon Labs to assist deliver this imaginative and prescient to market.
Whereas the 2 platforms look to drive a Bitcoin (BTC)-secured decentralized monetary ecosystem, the principle focus can be on bringing trust-minimized Bitcoin bridges to builders and blockchains.
Babylon Labs and Fiamma plan to combine zero-knowledge know-how into Bitcoin by way of Fiamma’s BitVM2 protocol, unlocking new potential within the 21 million Bitcoin provide.
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The collaboration comes after Fiamma launched the testnet for its Bitcoin bridge in November 2024. The platform additionally unveiled a devnet for the primary zero-knowledge verification layer for Bitcoin, utilizing BitVM2.
In the meantime, Babylon Labs has constructed the biggest Bitcoin staking protocol to this point, with over 57,000 BTC staked to this point. In response to DeFiLlama, the Babylon protocol at present has a complete worth of over $6 billion.
Babylon’s non-custodial platform permits customers to stake their BTC to safe proof-of-stake chains whereas incomes extra rewards for his or her holdings. The mixing with Fiamma’s trust-minimized bridge will additional develop BTC’s usefulness inside DeFi.
Fiamma’s enlargement amid the expansion of real-world purposes on Bitcoin consists of strategic partnerships with Hack VC, Fort Island Ventures-backed restoration platform Satlayer, and zero-knowledge digital machine platform RISC Zero.
Learn extra: Babylon Labs Companions with SatLayer to Unlock DeFi for Bitcoin