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The world’s largest crypto exchange platform by trading volume is adding support for a new Bitcoin (BTC) staking protocol. In a new announcement, Binance says it will be adding the BTC staking project Babylon (BABY) to its massive suite of digital asset products. Babylon, which launched Babylon Genesis today, rose in value after gaining support from Binance. BABY went from a daily low of $0.084 to a peak of $0.099 just a few hours later. It has since retraced and is trading for $0.087 at time of writing, a 4.6% gain during the last 24 hours. According to the project’s official litepaper, the protocol is designed to fix latency, security and programmability issues associated with BTC, something layer-2 projects have struggled with in the past. “Bitcoin is the first and still the top blockchain in terms of market capitalization. However, beyond a store of value, its utility has been limited by its small blockspace, high latency, and limited progr...

Decentralized, cross-chain “liquidity protocol” THORChain has paused its lending and saving services after the community raised concerns about the project’s solvency. Aside from its core function as a cross-chain decentralized exchange (DEX), THORChain offers generous bitcoin (BTC) and ether (ETH) collateralized “0% interest, no liquidations, and no expiration” loans as well as “Savers” vaults on native tokens. .@THORChain is insolvent In the event of any large debt redemption and/or savers & synths deleveraging, it is certain that TC cannot meet its bitcoin and eth denominated obligations. Validators decided to pause the network while they vote a restructuring plan — TCB (@1984_is_today) January 24, 2025 Read more: Do Kwon escapes extradition limbo — enters US trial limbo THORChain community member TCB pointed to total liabilities of around $200 million between the two programs, backed by just $107 million of (non-locked) liquidity. The thread e...

LayerZero announced its LayerZero V2 upgrade three days ago with enhanced cross-chain interoperability with Universal Messaging and Modular Security. Clusters introduces a multichain naming protocol for seamless blockchain address management. Delegate’s expertise in address management ensures security and reliability in the Clusters ecosystem. LayerZero Labs, in collaboration with Delegate, has announced the launch of Clusters, a groundbreaking multichain naming protocol designed to streamline user interaction across various blockchain networks. With this innovative solution, users can maintain a consistent identity and manage their blockchain addresses seamlessly, transcending the limitations of individual chains such as Ethereum, Polygon, Avalanche, and Solana among other EVM chains. Your universal name. For the multichain maxis. Feb 1, 10am ET pic.twitter.com/nCOiAqrjnU — Clusters (@clustersxyz) January 31, 2024 The Clusters Protocol...

Orbs announced a $600,000 investment in THENA (THE) to expand its core product and increase its Total Value Locked (TVL). In addition to the funding, Orbs will provide technical solutions to the decentralized finance (DeFi) protocol . Notably, the blockchain infrastructure company Orbs operates the Orbs Network (ORBS). The project has existed since 2017, and both the network and token since 2019. Meanwhile, THENA is a decentralized exchange (DEX) and liquidity protocol running on the BNB Chain (BNB). As communicated to Finbold, the $600,000 investment aims to refine THENA’s user experience. Both projects also want a larger share of the Asian onchain market, which should be facilitated with the funding. This endeavor will focus on growth-hack strategies, user engagement, and onboarding. In particular, THENA will allocate a tranche of the investment to its treasury as a strategic reserve. Orbs and THENA partnership Cryptocurrency Jellyverse secures $2 million seed fu...