Sui Network Partners with Babylon Labs to Become Bitcoin-Secured Network, Utilizing $BTC for $SUI and $BABY

Sui Network has officially announced its collaboration with Babylon Labs, becoming a Bitcoin-secured network. This partnership allows Bitcoin holders to stake their BTC using Babylon’s trustless staking protocol, enhancing the security of Sui Network without requiring users to relinquish custody of their assets. The integration aims to introduce Bitcoin-backed scalability to Sui, which is currently the seventh largest Proof-of-Stake protocol. The move has sparked discussions regarding the implications for the Sui token ($SUI) and the potential benefits for Babylon’s token ($BABY). This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant