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Binance Labs transferred four investment project tokens worth about $2.79 million to Gate today, presumably in preparation for sale. These tokens include 47.61 million UNA (about $1.27 million), 25 million PSTAKE (about $1.24 million), 2.85 million SIS (about $270,000), and 2…

scalability for Bitcoin, said Ben-Sasson.  “By simply adding OP_CAT, you can’t introduce actual smart contracts on Bitcoin itself. Bitcoin will not be able to execute something like Uniswap, but you can easily have Ekubo, which is like a version of Uniswap v4 on Starknet, running on an L2 [layer-2 network] on top of Bitcoin,” he added.  “But even with this, you could technically have all of DeFi and more: gaming, SocialFi and DePIN.” But not everyone is convinced of the necessity of OP_CAT for Bitcoin’s growth in the long term, saying that the current structure of sidechains is already sufficient to scale Bitcoin. Bart van der Voort, chief strategy officer of Bitcoin liquid staking protocol pSTAKE, said OP_CAT could pose an unnecessary risk, given the relative success of Bitcoin sidechains in scaling Bitcoin thus far.  “It’s introducing a risk — to a degree — for Bitcoin. Why mess with something that’s working?” Advertisement Experience the magic of WAGMI Miami on Jan. 21-24 – The Biggest Blockchain Event in America – Get your tickets now! Ad Recent: Meet the pro-crypto contenders who could replace SEC chief Gary Gensler “I really don’t know if it’s that necessary because you can already see all of these side chains that are coming up and building around Bitcoin itself. This should be more than enough.” Bitcoin sidechains refer to networks like CORE, Stacks, BitLayer and bSquared, which are separate blockchain networks that run parallel to the Bitcoin network but settle to the Ethereum Virtual Machine (EVM) and use a bridge to transfer assets between them and the parent network. CORE — much like other Bitcoin sidechains — allows Bitcoiners to bridge their idle Bitcoin BTC$81,708 to its protocol CORE DAO and earn a yield on BTC that would otherwise be left sitting passively in a cold wallet. 

$PSTAKE is maintaining its bullish stance after holding support at $0.047. The next target is $0.13, driven by strong volume. $G is expected to shape this upward trend, while Bitcoin’s upward momentum helps push toward this breakout opportunity.

According to Foresight News, Bitcoin ecosystem lending protocol Avalon Labs has integrated support for Babylon's mainstream LSD protocols, including Solv Protocol, Lorenzo Protocol, PumpBTC, Bedrock, Lombard, and Pstake. Users can now earn triple token incentives from Babylon, BTC LSD protocols, and Avalon by utilizing Avalon Labs' DeFi lending services. Currently, the total value locked (TVL) in Avalon Labs' DeFi lending market has surpassed $500 million, making it the largest lending market within the Babylon ecosystem.

SatLayer, a startup based on the Babylon steaking protocol, has raised $8 million in a preliminary round of funding. Hack VC and Castle Island Ventures jointly led the round. Franklin Templeton, OKX Ventures, Mirana Ventures, Amber Group, Big Brain Holdings, CMS Holdings and others also participated. Undisclosed business angels from aPriori, Custodia Bank, LayerZero, Manta Network, Magic Eden, Sui and Pendle, also joined the fundraiser. SatLayer co-founder Luke Xie told The Block that the project was originally looking to raise $4 million, but when the fundraising began, the round was reshaped. Although the startup received double its original goal, the potential seed capital from interested parties totaled $16 million. Xie said the preliminary round was structured as a simple agreement for future equity (SAFE) with tokenized warrants. He declined to comment on the startup's valuation. SatLayer is a Bitcoin re-stacking platform built on top of Babylon. The technology allows users to earn additional rewards by re-stacking their already frozen assets in various BVS protocols. Xi said that SatLayer is the first Bitcoin restacking platform built on Babylon. Through the platform, he said, users can re-stake their Bitcoins and Bitcoin Liquid Stake tokens on platforms such as Solv Protocol, Lombard, Bedrock, pStake and PumpBTC, which are used to secure the network. “Many market participants, especially those that have been around for several years, have substantial bitcoin (BTC) reserves that are sitting idle. They can be put to better use,” he added. SatLayer will offer users rewards in the form of points. When asked about its own token, Xi said, “We don't have plans for our own cryptocurrency yet. We will announce it later if and when details become available.” $BTC