Lorenzo Phase One
During Phase One, Lorenzo will enable the following features:
Raise BTC liquidity for a few of the certified premium BTC restaking projects, with Babylon being Lorenzo’s primary supported entity.
Release Lorenzo Vault Wallet, our custody that is responsible for receiving and returning BTCs.
Provide liquid restaking tokens stBTCs for BTCs staked to Babylon.
Support redemption of BTCs from stBTCs.
Distribute rewards from the project to users that have participated in the initial restaking phase.
Raise BTC Total Value Locked (TVL) in advance before Babylon’s mainnet launch in order to stake users’
BTCs to the Babylon ecosystem at the earliest opportunity to maximize rewards.
Note that there is no separation of principal and yield in liquid restaking tokens during Lorenzo Phase One. All rewards are distributed via snapshots of restaking. Users will claim profits from the contract based on the snapshot.
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