Lorenzo Phase Two

During the Lorenzo Phase Two, the concept of Staking Agent is introduced. A Staking Agent will receive BTCs from users to participate in restaking. A Staking Agent can also issue liquid restaking tokens. In addition, Yield- bearing tokens, or Yield Accruing Tokens (YAT), for the separation between principal and interest, and restaking proof tokens (SPT) for BTC redemption will be introduced. Lastly, Lorenzo will support more Proof-of-Stake (PoS) chains in the Babylon ecosystem to issue liquidity restaking token assets on Lorenzo.