比特币的重生：LST 释放价值并改变守旧派

随着流动性质押代币 stBTC 的推出以及比特币经济层的出现，比特币的生态系统正在不断扩大。 stBTC 允许用户通过 Nomic DAO 基金会和 Babylon Bitcoin 赚取 BTC 收益，而由 Mezo 领导的经济层旨在通过 HODL 证明来激励比特币持有者。这些发展标志着比特币的一个潜在转折点，为用户提供了使用 BTC 的新方法，并有可能将以太坊的部分 DeFi 主导地位转移到 Cosmos 生态系统。

Bitcoin's Renaissance: Unleashing the Potential of the Oldest Cryptocurrency

比特币的复兴：释放最古老的加密货币的潜力

After years of relative dormancy, the Bitcoin network is witnessing an explosion of activity, providing users with unprecedented opportunities to unlock the value of their BTC. One of the latest and most groundbreaking developments is the introduction of Bitcoin Liquid Staking Tokens (LSTs), which are revolutionizing the way Bitcoin holders can participate in the DeFi ecosystem.

经过多年的相对休眠之后，比特币网络正在见证活动的爆发，为用户提供了前所未有的机会来释放其比特币的价值。最新、最具突破性的发展之一是比特币流动质押代币（LST）的推出，它正在彻底改变比特币持有者参与 DeFi 生态系统的方式。

What are Liquid Staking Tokens (LSTs)?

什么是流动质押代币（LST）？

Liquid staking refers to a mechanism where users can deposit their cryptocurrency into a proof-of-stake (PoS) blockchain and receive a tradable token in return. Unlike traditional staking, which locks up tokens until they're unstaked, liquid staking allows users to retain access to the value of their staked tokens and use them across DeFi protocols.

流动质押是指用户可以将其加密货币存入权益证明（PoS）区块链并获得可交易代币作为回报的机制。与传统的质押不同，传统质押会锁定代币直到它们被取消质押，而流动性质押允许用户保留对其质押代币价值的访问权，并在 DeFi 协议中使用它们。

Nomic DAO Foundation and Babylon Bitcoin Break New Ground with stBTC

Nomic DAO 基金会和 Babylon Bitcoin 通过 stBTC 开辟新天地

Nomic DAO Foundation and Babylon Bitcoin have partnered to introduce stBTC, a groundbreaking Bitcoin LST. This innovation enables Bitcoin holders to stake their BTC and receive nBTC, a Cosmos-native token that represents their staked BTC. nBTC can then be used to mint stBTC tokens, which can be traded and used throughout the Cosmos ecosystem.

Nomic DAO 基金会和 Babylon Bitcoin 合作推出了 stBTC，这是一种突破性的比特币 LST。这项创新使比特币持有者能够质押他们的 BTC 并接收 nBTC，这是一种代表他们质押的 BTC 的 Cosmos 原生代币。然后，nBTC 可用于铸造 stBTC 代币，这些代币可在整个 Cosmos 生态系统中进行交易和使用。

"Nomic and Babylon provide two essential primitives to Bitcoin: decentralized custody and staking," said Matt Bell, CEO of Turbofish, Nomic's founders and core contributors. "By combining these capabilities, they've created a practical solution for average Bitcoin holders to generate yield through staking."

Nomic 的创始人和核心贡献者 Turbofish 首席执行官 Matt Bell 表示：“Nomic 和 Babylon 为比特币提供了两个基本要素：去中心化托管和质押。” “通过结合这些功能，他们为普通比特币持有者创建了一个实用的解决方案，通过质押产生收益。”

Potential Impact of stBTC

stBTC 的潜在影响

The launch of stBTC could have far-reaching consequences for the Bitcoin ecosystem. It could potentially capture a significant portion of the market share currently held by wrapped Bitcoin (wBTC), currently the only instrument that allows Bitcoin holders to earn yield. This could reduce the dominance of Ethereum's DeFi ecosystem by siphoning away some of its Total Value Locked (TVL).

stBTC 的推出可能会对比特币生态系统产生深远的影响。它可能会占据目前由包装比特币（wBTC）持有的很大一部分市场份额，而wBTC是目前唯一允许比特币持有者赚取收益的工具。这可能会通过吸走以太坊 DeFi 生态系统的部分总价值锁定（TVL）来削弱其主导地位。

Furthermore, the introduction of stBTC could also introduce Bitcoiners to the Cosmos ecosystem, opening up new possibilities for the utilization of BTC within a wider network of DeFi protocols.

此外，stBTC 的引入还可以将比特币用户引入 Cosmos 生态系统，为在更广泛的 DeFi 协议网络中使用 BTC 开辟新的可能性。

The Rise of Bitcoin's Economic Layer

比特币经济层的崛起

The integration of Nomic and Babylon is not the only Layer 2 solution generating excitement within the Bitcoin ecosystem. On April 9, Thesis, a venture studio focused on Bitcoin, unveiled the Bitcoin Economic Layer, dubbed "Mezo." Mezo leverages Proof of HODL (PoH), a novel mechanism that rewards Bitcoin holders based on their length of deposits.

Nomic 和 Babylon 的集成并不是比特币生态系统中唯一令人兴奋的第 2 层解决方案。 4 月 9 日，专注于比特币的风险工作室 Thesis 推出了比特币经济层，称为“Mezo”。 Mezo 利用 HODL 证明（PoH），这是一种根据比特币持有者的存款期限奖励比特币持有者的新颖机制。

"Mezo is unique in that it fosters a Bitcoin circular economy," said a Thesis press release. "The Thesis-built tBTC token will facilitate trust-minimized bridging to other protocols, promoting the seamless flow of value within the Bitcoin ecosystem."

“Mezo 的独特之处在于它促进了比特币循环经济，”论文新闻稿称。 “论文构建的 tBTC 代币将促进与其他协议的信任最小化桥接，促进比特币生态系统内价值的无缝流动。”

Flourishing Bitcoin Layer 2 Landscape

蓬勃发展的比特币 Layer 2 格局

The Bitcoin Layer 2 landscape is flourishing, with several notable projects gaining traction. Merlin Chain, which launched in February 2024, has attracted over 25,000 BTC or $1.6 billion in staked bitcoin. Stacks, another leading Layer 2 solution, boasts a market capitalization of $4.5 billion and a TVL of $173 million.

比特币 Layer 2 格局正在蓬勃发展，几个著名项目正在蓬勃发展。 Merlin Chain 于 2024 年 2 月推出，已吸引了超过 25,000 BTC（即价值 16 亿美元的比特币）。 Stacks 是另一个领先的 Layer 2 解决方案，其市值为 45 亿美元，TVL 为 1.73 亿美元。

Conclusion

结论

The explosion of activity on the Bitcoin network signifies a transformative moment for the oldest cryptocurrency. The introduction of LSTs and the emergence of a robust Layer 2 ecosystem are empowering Bitcoin holders to unleash the potential of their BTC and participate in the growing DeFi landscape. This renaissance is not only revolutionizing the way Bitcoin is used but also propelling the broader crypto industry forward. As these innovations continue to mature, the future of Bitcoin and the DeFi ecosystem looks increasingly bright.

比特币网络上的活动激增标志着最古老的加密货币的变革时刻。 LST 的引入和强大的 Layer 2 生态系统的出现使比特币持有者能够释放其 BTC 的潜力并参与不断发展的 DeFi 领域。这种复兴不仅彻底改变了比特币的使用方式，而且推动了更广泛的加密行业向前发展。随着这些创新的不断成熟，比特币和 DeFi 生态系统的未来看起来越来越光明。