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CryptoIntelligence 2024-08-13 23:17:08

Babylon X bitSmiley: Transforming BTC Liquidity in the Blockchain Space

In the evolving blockchain landscape, Babylon and bitSmiley are set to onboard Bitcoin into the Proof-of-Stake world and other blockchain economies. As Native BTC staked on Babylon increases, the potential of BTC LST assets is enormous yet underutilized. Enter bitSmiley, the key to unlocking this potential. Introducing first BTC-backed stablecoin with yield When a user deposits BTC into the bitSmiley protocol, the deposit details are sent to our MultiSig Wallet via an inscription. Concurrently, we stake the user’s BTC in the Babylon protocol, offering both flexible and fixed-term staking options. Through bitSmiley, users gain the ability to mint bitUSD on

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