TechFlow news, on May 28, Lorenzo, a Bitcoin liquid staking project built on Babylon, announced the launch of its pre-staking campaign for Babylon and co-hosted the Bitlayer Mining Gala—the inaugural mining event jointly initiated by Lorenzo together with seven partners: Bitlayer, Bitsmiley, BitCow, Avalon Finance, Bitparty, Pell Network, and Enzo Finance.
The event will run from 21:00, May 27, 2024, to 21:00, June 10. Users can stake BTC on the pre-staking page to receive stBTC. All BTC received by Lorenzo will be immediately delegated by Lorenzo to participate in Babylon staking upon Babylon's mainnet launch. The actual staking progress may be subject to potential staking caps imposed by Babylon.
During the Bitlayer Mining Gala, users can bridge their stBTC to Bitlayer and use it to participate in on-chain activities such as staking and lending within the Bitlayer ecosystem, earning rewards jointly provided by Lorenzo, Bitlayer, and partner projects. As a token of appreciation for early supporters, Lorenzo has established three incentive pools and introduced multiple reward programs for participants who pre-stake via Babylon, bridge stBTC to Bitlayer to join ecosystem projects, or engage with other Lorenzo partner projects—offering eligible users up to a 10x boost in reward points.
Lorenzo aims to build the first liquid financial layer for Bitcoin within the Babylon ecosystem, delivering the simplest and most seamless BTC restaking experience for crypto investors—unlocking liquidity of staked assets while maximizing staking yields.
