TechFlow reports that the Nomic team has partnered with Bitcoin staking protocol Babylon to launch stBTC, a liquid staking token (LST) for Bitcoin. Users can stake their Bitcoin on Nomic via Babylon and, in return, receive both NOM tokens and nBTC, which is redeemable for Bitcoin. This initiative offers a more practical solution for Bitcoin DeFi. With innovative projects like stBTC emerging, Bitcoin DeFi is poised to compete with Ethereum DeFi. Babylon enables BTC holders to earn rewards by staking their assets on proof-of-stake blockchains; its first testnet was launched on February 28 this year.
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