Summary
- Babylon (BABY) announced the launch of a trustless BTC vault for the Bitcoin (BTC) staking protocol.
- With this vault release, BTC can be used as collateral for loans and stablecoin issuance in DeFi applications.
- BTC was reported to be trading at $115,405.47, up 1.73% in the Binance Tether (USDT) market as of 03:40 on the 7th.
On the 6th (local time), according to CoinDesk, a media outlet specializing in digital assets (cryptocurrency), the Bitcoin (BTC) staking protocol Babylon (BABY) launched a trustless BTC vault.
Through the newly launched vault, BTC can be used as collateral in various DeFi applications such as loans and stablecoin issuance, and staking features provided by the Babylon protocol are also supported.
Meanwhile, as of 03:40 on the 7th, BTC was trading at $115,405.47, up 1.73% from the previous day, in the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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