According to BlockBeats, on September 13, Pencils officially announced a partnership with Babylon, the first self-hosted Bitcoin staking protocol. As a leading protocol in the Farming track with LRT Restaking as its core business line, Pencils has been actively developing the Babylon ecosystem.
Long before the launch of the Babylon mainnet, Pencils has supported Solv Protocol, one of the first liquidity staking protocols connected to Babylon. Currently, more than $150 million of SolvBTC has been staked on the Pencils platform. With the launch of the Babylon mainnet on August 22, Pencils is gradually expanding its protocol integration and plans to gradually connect to core protocols in the Babylon ecosystem such as Lorenzo Protocol, Stakestone and Lombard Finance. Through these deep integrations, Pencils not only provides users with convenient channels to participate in Babylon, but also further enhances the vitality of the Babylon ecosystem through diversified sources of income.
This strategic layout highlights the key role of Pencils Protocol in promoting the development of the BTCfi ecosystem with Babylon as the core. In the future, Pencils will continue to deepen its cooperation with Babylon and push the BTCfi ecosystem to new heights. Currently, Pencils is conducting a token sale and will officially start sales on September 18. The pre-registration channel has been opened on the tokensoft platform.
