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Babylon Chain, a protocol focused on staking for Bitcoin, has successfully concluded a Series A funding round, raising $18 million. Significantly, BorroeFinance's presale hits almost $3M, which could put BorroeFinance ($ROE) on the right track for future undertakings and make it one of the best DeFi crypto at large.
The funding was led by Polychain Capital and Hack VC, with participation from other prominent investors such as Framework Ventures, Polygon MATIC Ventures, Castle Island Ventures, OKX Ventures, and Symbolic Capital.
The protocol's primary objective is to enable Bitcoin holders to stake their coins on proof-of-stake (PoS) blockchains, thereby introducing Bitcoin as a staking asset on PoS networks. This integration is anticipated to bolster the security of PoS chains and potentially unlock new use cases for Bitcoin.
The funds raised will be utilized to further develop Babylon's Bitcoin Staking protocol, which is designed to add liquidity and security to emerging PoS chains. The protocol is expected to launch around the time of the next Bitcoin halving, which is projected to take place in April 2024.
Following the launch, Babylon Chain will serve as the control plane between Bitcoin and PoS chains, allowing Bitcoin holders to participate in the security of PoS networks and potentially unlocking new use cases for Bitcoin. The fresh capital will also be used to expand Babylon's current team of approximately 15 people and grow its ecosystem.
The protocol's innovative approach and the substantial funding secured reflect a growing interest in exploring new use cases for Bitcoin, beyond its traditional role as a store of value.
Web3 revolution sees the $ROE token become a flagship of the BorroeFinance ($ROE) project.
BorroeFinance ($ROE), is one of the new DeFi project in the fast-moving crypto world. Unique among Web3 projects, BorroeFinance ($ROE) is powered by AI innovation that offers alternative funding sources to Web3 startups and creators who seek them.
The BorroeFinance (ROE) platform uses AI to connect innovative entrepreneurs or content creators with smart investors. Web3 companies are set to use this AI-led method of risk assessment and shared purpose to transform their anticipated income, mainly on subscription models, to readily available funds.
BorroeFinance ($ROE) is a smart chain invoice discounting marketplace powered by artificial intelligence. Some creators use the platform to sell NFTs, which are early-bird digital collectibles that showcase potential revenue streams available to investors who pay with $ROE.
At the moment, BorroeFinance ($ROE) token's presale stage III is ongoing as the cryptocurrency has gathered over a million dollars with above eighty percent (80%) of the assets allocated. already sold for the stage.
Under the leadership of fintech and financial industry veterans Maxim Prishchepo and Michael Price, BorroeFinance is committed to triumph within the blockchain ICO realm. It positions BoroeFinance among stiff competitors because of its expertise.
BlockAudit certifies BorroeFinance ($ROE) as emphasizing legitimacy and transparency and discloses its open smart contract address for public audit. Such a measure guarantees authentic smart contracts which encourage transparent transactions between the affected parties.
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