VICTORIA, Seychelles, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Bitget Wallet, the leading Web3 wallet, has integrated support for the Babylon Bitcoin Staking Mainnet and launched a dedicated Dapp section for the Babylon ecosystem within the wallet. This development simplifies the Bitcoin staking process, allowing users to easily stake their BTC through Babylon with a single click on Bitget Wallet, earning rewards while contributing to the security of PoS networks.
Babylon is a project that designs 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 yield without the need for third-party custody, bridge solutions, or wrapping services. Babylon's approach combines the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin's utility.
Bitget Wallet is committed to building a comprehensive Bitcoin ecosystem and has emerged as a leader in this space. The wallet currently supports BTC asset display, transfers, swap transactions, OTC trading, and the inscription of BRC20 and ARC20 formats, along with market data for inscriptions. Additionally, Bitget Wallet has upgraded its Launchpad feature to support BRC20 asset launches, providing users with access to new assets and opportunities. The integration of the Lightning Network and other Layer 2 solutions offers users convenient services for entering the Bitcoin Layer 2 ecosystem. By incorporating staking functionality, Bitget Wallet continues to support the ongoing development of Bitcoin, transforming it from merely a store of value into a dynamic asset that plays a crucial role in the security and growth of decentralized networks.
Bitget Wallet is also planning to collaborate with Babylon during the Cap2 phase of its mainnet to launch a staking rewards program, which offers users additional opportunities to earn rewards, further enhancing the benefits of participating in the Bitcoin staking ecosystem.
Alvin Kan, COO of Bitget Wallet, emphasized the significance of this collaboration: "By integrating with Babylon, we are not only ensuring the highest levels of security for our users but also driving innovation in the staking space. This integration allows our users to maximize their asset growth while actively contributing to the security of blockchain networks."
About Bitget Wallet
Bitget Wallet stands as one of the world's leading non-custodial Web3 wallets and decentralized ecosystem platform. With the Bitget Onchain Layer, the wallet is well-poised to develop a burgeoning DeFi ecosystem through co-creation and strategic incubation. Aside from a powerful Swap function, Bitget Wallet also offers multi-chain asset management, smart money insights, a native Launchpad, Inscriptions Center, and an Earning Center. Supporting over 100 major blockchains, 250,000+ tokens, and a wide array of DApps, Bitget Wallet is your top wallet for asset discovery and Web3 exploration.
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