StakeLayer passes $500,000 milestone in $STAKE presale, paving the way for Chainwire's Bitcoin development


London, UK, April 8, 2024, Chainwire

StakeLayer, a pioneering restaking platform operating on L2, has reached a significant milestone by successfully completing two phases of its presale and securing over $500,000 in funding.

During the presale, early participants will have the opportunity to purchase $STAKE – a native token of the StakeLayer ecosystem. Holders can use their tokens to potentially receive additional rewards from vaults and participate in DeFi activities.

StakeLayer's groundbreaking EigenLayer for Bitcoin introduces a paradigm shift in Bitcoin's Layer 2 landscape, revolutionizing interactions with the leading cryptocurrency through innovative restaking features. The token generation event is scheduled for the second quarter of 2024.

Inspired by EigenLayer, StakeLayer implements a bespoke restaking mechanism tailored specifically for Bitcoin. This mechanism allows Bitcoin holders to unlock additional rewards by actively participating in proof-of-stake activities in various applications embedded in Bitcoin's L2.

By seamlessly integrating Proof-of-Stake into the Bitcoin ecosystem, StakeLayer is pioneering a transformative approach that increases capital efficiency and security while expanding the utility of Bitcoin.

Key benefits of StakeLayer include:

  • Advanced Security: The restaking framework introduced by StakeLayer has the potential to improve the overall security of the Bitcoin ecosystem.
  • BTC Mirroring Mechanism: StakeLayer enables seamless interaction with DeFi protocols without requiring off-chain $BTC transfers.
  • Improved Capital Efficiency: StakeLayer enables Bitcoin holders to optimize their returns, thereby increasing capital efficiency.

Although StakeLayer is still in its early stages, its distinctive features and promising development highlight its potential to reshape the development of Bitcoin and seamlessly integrate it into the dynamic DeFi landscape.

Users can take part in the presale via this link

About StakeLayer

StakeLayer presents a novel approach to unlocking new functionality for Bitcoin and introduces a revolutionary EigenLayer for Bitcoin. Introducing restaking on Bitcoin's L2 opens doors to greater capital efficiency, potential security benefits, and a wider range of applications built on the Bitcoin network.

ContactSam Viden[email protected]

This article was originally published on Chainwire


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