Nomic launches BTC liquid staking token via a partnership with Babylon

The team behind Nomic, a Layer 1 blockchain providing a decentralized Bitcoin bridge, launched a bitcoin liquid staking token called stBTC.

Individuals can use Babylon to stake bitcoin to Nomic, rewarding the user with NOM and nBTC that can redeemed for bitcoin. The cryptocurrency nBTC reflects 1:1 ownership of bitcoin in a token compatible with the Inter-Blockchain Communication Protocol . This standardized protocol allows many blockchains to transact with each other. Thus, users can use nBTC on the decentralized Cosmos exchange Osmosis, the Cosmos Hub and other DeFi protocols.

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