Pell Network Integrates with Babylon
We're excited to announce that Pell Network has integrated with the Babylon Bitcoin Staking Protocol!
What is Pell Network?
Pell Network is an omnichain restaking solution that allows anyone staking BTC through liquid staking providers to use their LSTs to secure various Decentralized Validated Services (DVS).
DVS’ are essentially any system that needs a distributed network of validators to function securely and correctly. These include anything from PoS chains to other applications like middleware, oracle networks, or AI computing networks.
Why do we need Bitcoin's security?
Bitcoin is widely recognized as the most secure network with the heist market cap for a digital asset. As more projects seek to connect with Bitcoin to unlock its asset and network value, they encounter two specific challenges:
Centralized trust issues in cross-chain asset transfers:
The problem: Moving BTC assets to other blockchains is often done through centralized bridges or custodians. This introduces a certain amount of risk, as users must trust these third parties to handle their Bitcoin securely.
Why it matters: Centralization creates a single point of failure, making these systems vulnerable to hacks, exploits, or even mismanagement. This undermines Bitcoin’s core principles of decentralization and trustlessness.
Limitations in Bitcoin's programmability hindering state validity verification:
The problem: Bitcoin's scripting language, while powerful for certain transactions, has limited programmability. This makes it difficult to build other applications or verify the state of other blockchains directly on Bitcoin.
Why it matters: This limitation hinders the development of trustless bridges and other interoperability solutions, forcing users to trust in third-party solutions.
Pell Network leverages Bitcoin's security to help support a secure cross-chain environment (like EVM and WASM ones) by offering a deep integration with the Cosmos SDK and IBC protocol. The platform features a decentralized validator network and profit management system. By using Pell, developers can focus on their core application logic while relying on Pell's infrastructure for security.
Pell’s integration with Babylon Bitcoin staking
The integration with Babylon aims to strengthen the security of the blockchain ecosystem while maximizing the utility of staked Bitcoin.
Let's break down how the Pell ecosystem works:
Liquid Staking: BTC holders can liquid stake their bitcoin and receive BTC Liquid Staking Tokens (LSTs) in return.
Staking via Babylon: LST protocols then stake the native BTC on the Babylon Bitcoin staking protocol.
Securing PoS Chains: The staked BTC is used to secure Proof of Stake (PoS) chains, earning potentially rewards for BTC holders.
Pell restaking: Pell Network enables BTC LST holders to restake their tokens, further increasing their security impact and potential earnings.
Securing DVS: These restaked assets are used to provide security to DVS, offering additional rewards on top of the PoS security ones.
Technical Integration
The integration is facilitated through Babylon's implementation of CosmWasm smart contracts. This helps further the interaction between Babylon's finality providers and Pell's restaking infrastructure.
More about Pell
Pell Network builds an omnichain DVS (Decentralized Validated Service) network driven by cryptoeconomics, leveraging the restaking mechanism of LST (Liquid Staking Tokens) to create a seamless decentralized validation services marketplace. Pell Network aims to provide innovative technical solutions for the billion-dollar restaking sector, break down barriers between siloed blockchains, and foster the long-term sustainability of the entire ecosystem.
Users can follow Pell’s latest development:
Website | Twitter | Discord | Telegram
About Babylon
Babylon is a project that focuses on Bitcoin security sharing protocols with a vision of building a Bitcoin-secured decentralized world. Its latest development is the world’s first trustless and self-custodial Bitcoin staking protocol, which enables Bitcoin holders to stake their BTC on Proof-of-Stake (PoS) systems such as PoS chains, L2s, Data Availability (DA) layers, etc, enabling them to earn staking rewards without the need for third-party custody, bridge solutions, or wrapping services. Babylon combines the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin's utility. Babylon was founded in 2022 by Stanford Professor David Tse and Dr. Fisher Yu. Professor Tse is a member of the U.S. Academy of Engineering and is renowned as the inventor of the legendary proportional-fair scheduling algorithm for wireless communications. Babylon is led by a team of consensus protocol researchers and experienced layer 1 engineers from around the world.
For more information about Babylon Labs, a developer of the Babylon Bitcoin staking protocol, please visit:
