Babylon, the Bitcoin public chain, has launched its public testnet. The first use case is a native Bitcoin collateralized lending collaboration with the lending platform Aave v4.
Participants do not need to wrap or bridge. They can use native Bitcoin as collateral to borrow dollar stablecoins such as USDC and USDT on Ethereum.
Currently, you can experience the full process via the testnet and submit your feedback in the feedback form.
From today’s perspective, this public testnet effectively provides a cross-chain callable collateral layer for native Bitcoin, enabling it to move into applications such as stablecoins, credit cards, derivatives, and insurance in the future.
What it truly addresses is not whether Bitcoin can be borrowed, but whether Bitcoin can participate in on-chain finance while minimizing sacrifices to its native characteristics and control.
Babylon says this solution combines four features: native Bitcoin collateral, DeFi borrowing interest rates, self-custody, and no need for trusted intermediaries.
And $BABY is Babylon Network’s native token.#Baby
Participants do not need to wrap or bridge. They can use native Bitcoin as collateral to borrow dollar stablecoins such as USDC and USDT on Ethereum.
Currently, you can experience the full process via the testnet and submit your feedback in the feedback form.
From today’s perspective, this public testnet effectively provides a cross-chain callable collateral layer for native Bitcoin, enabling it to move into applications such as stablecoins, credit cards, derivatives, and insurance in the future.
What it truly addresses is not whether Bitcoin can be borrowed, but whether Bitcoin can participate in on-chain finance while minimizing sacrifices to its native characteristics and control.
Babylon says this solution combines four features: native Bitcoin collateral, DeFi borrowing interest rates, self-custody, and no need for trusted intermediaries.
And $BABY is Babylon Network’s native token.#Baby