Search results for Babylon
Crypto
Babylon Labs proposes bitcoin-collateral loans for Aave V4
Babylon Labs has detailed a plan to let users of DeFi lending protocol Aave borrow stablecoins using bitcoin as collateral. The governance proposal would add two modules to Aave V4, including a Babylon Spoke that accepts only bitcoin collateral and a BTC Vault Swap Spoke to handle liquidations. The plan would lock bitcoin in a vault on the Bitcoin network and mint an internal token for use only within the lending system.
Crypto
Bitcoin utility boom fades? What Botanix shutdown raises for crypto
Bitcoin layer2 project Botanix has announced it will shut down, saying it did not work in the current market and at this point in time. A report said Botanix concluded efforts to make bitcoin programmable and integrated into real financial activity are not where ordinary users want them. Data show bitcoin on-chain DeFi remains far smaller than Ethereum. Developers said the shutdown does not mean bitcoin utility is dead, and argued for focusing on realistic products and existing liquidity.
Crypto
Babylon teams up with Ledger to expand bitcoin DeFi use
Babylon is collaborating with hardware wallet maker Ledger to support BTCVaults, a product that lets bitcoin be used as collateral in decentralised finance, The Block reported on March 10. BTCVaults removes the need for custody services or wrapping and uses native bitcoin under on-chain verification conditions. Ledger provides a secure signing layer so users can approve transactions directly on a hardware device.
