BitoRestaking

The detailed design will be completed upon approval of the BitoRestaking development proposal by the Bitomni DAO after the successful SNS.

BitoRestaking represents a novel approach to enhancing Bitcoin's utility and yield-generating potential within the BTCFi ecosystem. Drawing inspiration from concepts similar to those pioneered by EigenLayer and Babylon Chain, this innovative mechanism allows Bitcoin holders to participate in securing various Proof of Stake (PoS) networks. BitoRestaking enables users to earn an additional yield on their Bitcoin holdings by leveraging them to secure other blockchain networks or applications. This process increases the earning potential of Bitcoin holders and integrates Bitcoin more deeply into the broader DeFi landscape.

Key Features

Yield generation: Allows BTC holders to earn additional yield on their holdings by leveraging them to secure other blockchain networks or applications.

Liquid tokens: Liquid representations of staked Bitcoin allow users to retain liquidity over their assets.

Omnichain functionality: Liquid representations of staked Bitcoin can be used across various chains and DeFi protocols, increasing its utility beyond just a store of value.

Security provision: Restaked Bitcoin can be used to secure PoS networks, enhancing the overall security of the blockchain ecosystem.

By leveraging advanced IC technologies and innovative restaking mechanisms, BitoRestaking provides a seamless and secure way for Bitcoin holders to maximize the utility and profitability of their assets, further integrating Bitcoin into the dynamic world of DeFi and boosting the BTCFi market.