Lorenzo announced the launch of the Babylon pre-staking event and the co-hosting of the Bitlayer Mining Gala

Lorenzo, the Bitcoin liquidity financial layer project, announced the launch of the pre-staking Babylon event and the co-hosting of the Bitlayer Mining Gala. The Mining Gala was jointly initiated by Lorenzo and seven partners, including Bitlayer, Bitsmiley, BitCow, Avalon Finance, Bitparty, Pell Network, and Enzo Finance. The specific time of the event is from 21:00 on May 27, 2024 to 21:00 on June 10, 2024. Users can pledge BTC on the pre-staking Babylon event page to obtain stBTC. All BTC received by Lorenzo will be used by Lorenzo as an agent to participate in Babylon staking as soon as Babylon goes online. The actual staking progress may be determined by the possible staking limit of Babylon. In the Bitlayer Mining Gala, users can bridge the generated stBTC to Bitlayer, and use stBTC to participate in Bitlayer ecological project staking, lending and other on-chain activities, thereby obtaining joint rewards from Lorenzo, Bitlayer and cooperative project parties. This time, in order to thank early supporters, Lorenzo set up three incentive pools and launched a variety of incentive plans for participating in the pre-staking Babylon, stBTC bridge to Bitlayer to participate in the ecological project, and other Lorenzo cooperation projects, bringing users an estimated increase of more than ten times in points. Lorenzo aims to create the first Bitcoin liquidity financial layer based on the Babylon ecosystem, providing crypto investors with a simple and smooth BTC asset re-staking experience, while releasing the liquidity of pledged assets and capturing high pledge returns.