SatLayerPrice

(SLAY)

SatLayer is a decentralized protocol designed to serve as a programmable economic layer for Bitcoin. Its primary goal is to transform Bitcoin from a passive store of value into an active, productive asset that can provide security for a wide range of decentralized applications and services. This is achieved through a process known as Bitcoin restaking. By building on top of the Babylon protocol, SatLayer extends Bitcoin's security beyond simple staking. While Babylon provides the foundation for native Bitcoin staking, SatLayer introduces a more complex, programmable slashing layer. This allows developers to create custom security rules and penalties for various services, making Bitcoin's massive economic security available to a broader array of systems like oracles, cross chain bridges, decentralized exchanges, and artificial intelligence infrastructure. These applications that utilize restaked Bitcoin for their security are referred to as Bitcoin Validated Services or BVS. The project utilizes a modular architecture that enables multi chain compatibility. This allows Bitcoin's security to be exported to other blockchain ecosystems, including Ethereum, Sui, and Berachain. Users who participate in the ecosystem can stake their Bitcoin or Bitcoin liquid staking tokens into vaults. These assets are then used to secure different services, and in return, participants can earn rewards for providing this security. The native token associated with the project is known as SLAY. It functions as an ERC 20 token on the Ethereum network and serves several key roles within the ecosystem. The token is primarily used for governance, allowing holders to vote on protocol upgrades, treasury allocations, and the approval of new services. It also plays a role in the protocol's incentive structure by rewarding those who contribute to the network's security and operations. Additionally, the token may be required as collateral for participants engaging in high risk validation activities to ensure their interests are aligned with the health of the protocol. Overall, SatLayer seeks to unlock the utility of idle Bitcoin by creating a trustless infrastructure where the asset can generate yield while simultaneously securing the decentralized web. By providing a bridge between Bitcoin's security and modern decentralized finance, it aims to establish a new standard for how digital assets are used across different blockchain networks. Learn more

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