- Babypie, a liquid staking resolution for Bitcoin, has built-in 5 Chainlink options, with Capabilities being the primary to go reside to assist confirm customers’ signatures and Bitcoin transactions.
- Chainlink’s Proof of Reserve, Worth Feeds, and Automation are set to go reside quickly; Babypie will even combine CCIP to entry different networks, together with BNB Chain, Base and Arbitrum.
Babypie has introduced the mixing of Chainlink’s options to its liquid staking resolution for Bitcoin customers, opening up new alternatives in DeFi for the biggest crypto.
Babypie is a subDAO for liquid staking developed by Magpie XYZ, a platform that seeks to spice up yields for liquidity suppliers and holders of governance tokens. Magpie boasts over $1.81 billion in complete worth locked (TVL) throughout Ethereum, BNB Chain, Optimism and different chains.
Magpie launched Babypie earlier this month to focus on Babylon, the staking protocol for Bitcoin that, as we reported in February, counts Binance Labs as an investor. Babypie permits customers to stake their BTC by Babylon. maximizing their revenue potential and opening up new alternatives in DeFi.
Now, Chainlink is a part of this ballooning community to increase its attain and enhance its safety and interoperability.
.@Babypiexyz_io is leveraging the #Chainlink platform throughout @arbitrum, @base, and @BNBChain.
How Babypie is unlocking utility for mBTC with Automation, CCIP, Capabilities, Worth Feeds, and PoR ↓https://t.co/Ym0Kqyodci
— Chainlink (@chainlink) July 30, 2024
In an accompanying weblog submit, Babypie revealed that it had chosen Chainlink because it’s the “industry-standard for decentralized infrastructure within the blockchain {industry}, offering a number of providers to builders to allow extra superior DeFi purposes.”
Babypie Integrates Chainlink—5 Key Integrations
Babypie revealed that it’s integrating 5 Chainlink merchandise, all meant to make the staking course of simpler, safer and clear.
Chainlink Capabilities was the primary to go reside on Babypie. Basically, Capabilities provides a sensible contract with a standardized interface for accessing exterior off-chain information. In accordance with the event group, Capabilities is the one Chainlink characteristic that has gone reside on Babypie, with the opposite 4 set to launch quickly.
One in every of these options that Babypie will combine is the Cross-Chain Interoperability Protocol (CCIP), a safe interoperability protocol that connects dozens of networks, together with each private and non-private networks. It permits customers to ship cross-chain messages, ship tokens throughout networks at a dependable charge and embody programmed directions.
CCIP has turn out to be an {industry} interoperability normal, with a number of purposes and networks counting on it to increase their ecosystems. As we reported, Polkadot’s parachain Astar Community built-in CCIP final week, as did real-world asset tokenization platform Zoniqx.
The opposite three Chainlink options coming to Babypie are Worth Feeds, Proof of Reserve and Automation. These will permit the platform to supply safe and dependable markets for its mBTC/BTC pair and improve transparency by onchain information.
The group concluded:
By incorporating these superior Chainlink providers, Babypie is dedicated to delivering our customers a safe, clear, and environment friendly DeFi expertise. Integrating the Chainlink platform will allow Babypie to faucet into the biggest ecosystem of builders, protocols, enterprise, and capital markets gamers all leveraging the identical important infrastructure from Chainlink.
LINK trades at $13.2, dropping 3% prior to now day for an $8.026 billion market cap.
