Bitcoin Restaking Platform on Babylon Funded by SatLayer's $8M Pre-Seed Round
SatLayer, the first Bitcoin restaking protocol built on Babylon, has successfully launched its SLAY token and initiated the SlayDrop airdrop to encourage user participation. The fundraising round, which was co-led by Hack VC and Castle Island Ventures, was oversubscribed and attracted participation from notable investors such as Franklin Templeton, OKX Ventures, Mirana Ventures, Amber Group, Big Brain Holdings, and CMS Holdings.
Initially, SatLayer aimed to raise $4 million but ended up raising $8 million. The protocol currently offers users rewards in the form of points rather than a formalized token. However, the plans for the SLAY token involve its role in enabling Bitcoin holders to restake Bitcoin assets into various decentralized applications and services through a Bitcoin re-staking platform.
SatLayer is built on Babylon, a protocol that bridges BTC to yield-bearing proof-of-stake networks. This allows users to restake their Bitcoin on platforms like Solv Protocol, Lombard, and Bedrock. As of its website, Babylon has already locked 12,720 stakers performing over 20,610 staking delegations.
Babylon has launched phase one of its self-custodial mainnet, paving the way for the growth of services like SatLayer. Looking ahead, SatLayer aims to expand its utility through programmable smart contract slashing for enhanced flexibility in Bitcoin-validated services (BVSs) like DeFi platforms and real-world asset tokenization.
For the rest of 2025, SatLayer plans to launch cross-chain tools and hold global events to boost adoption. Moving into 2026 and beyond, the focus is on developing more decentralized finance (DeFi) tools and expanding the network further to establish strong, scalable infrastructure for Bitcoin-based DeFi ecosystems.
Details on further developments, including cross-chain tools and broader DeFi integration, are planned for Q4 2025 and beyond, with announcements expected as these milestones approach. However, no precise date for new SLAY token details has been disclosed, but the roadmap suggests continuous updates in late 2025.
It's important to note that as of now, SatLayer has yet to formalize plans for a token. If and when details about the token are available, SatLayer will announce it at a later stage.
In summary, SatLayer’s SLAY token is live with a circulating supply and has incentivized early participation through the SlayDrop airdrop completed in early August 2025. Details on further developments, including cross-chain tools and broader DeFi integration, are planned for Q4 2025 and beyond, with announcements expected as these milestones approach. No precise date for new SLAY token details has been disclosed, but the roadmap suggests continuous updates in late 2025.
In the future, the SLAY token's role may extend to allowing Bitcoin holders to invest in various decentralized applications and services through a Bitcoin re-staking platform (investing, business). Additionally, SatLayer's plans include expanding its utility by developing more decentralized finance (DeFi) tools and cross-chain tools (technology), aiming to establish a strong, scalable infrastructure for Bitcoin-based DeFi ecosystems (business, technology).
