The Rise of Babylon

Moonbeam Q1 2024 Brief, Livepeer Q1 2024 Brief and more

Babylon is a protocol designed to enable Bitcoin (BTC) staking and leverage its robust economic security to protect other Proof of Stake (PoS) blockchains, offering Bitcoin holders a chance to earn yields. The protocol employs innovative cryptographic methods and a native Bitcoin staking functionality that avoids centralized trust, with features like remote staking and a unique slashing mechanism. Babylon's infrastructure bridges Bitcoin and PoS networks, enhancing blockchain security and reducing operational costs for participating chains. While promising, its success depends on broader adoption of the Inter-Blockchain Communication (IBC) protocol and overcoming the traditional "HODL" mentality among Bitcoin holders. Babylon aims to rival Ethereum's security model, potentially transforming Bitcoin staking and the security frameworks of emerging blockchain ecosystems.   Read the full report by Nikhil Chaturvedi - Babylon: Bitcoin Shared Security and Staking. Today in UO! 🗓️ Moonbeam Q1 2024 Brief 🗓 Livepeer Q1 2024 Brief [Osmosis DAO] Migrate Persistence LiquidStakeRate Contract [Kava] Kava 16 MESSARI INSIGHTS 🗓️ Moonbeam Q1 2024 Brief. In the first quarter of 2024, Moonbeam developed various aspects of its ecosystem. Network activity increased, highlighted by the rise in daily active and new addresses. The period also saw growth in the developer community, strategic integrations, and community initiatives.  🗓️ Livepeer Q1 2024 Brief. The usage of the Livepeer network grew 31% QoQ and reached an all-time high in Q1'24, driven by the onboarding of a live-streaming platform on Livepeer Studio. Livepeer demand-side revenue from transcoding fees grew 22% QoQ in USD terms, down 15% QoQ in ETH terms. Staking rewards grew 123% QoQ in USD terms (up 18% QoQ in LPT terms), as LPT issuance in Q1'24 reached its highest level since the Arbitrum migration in Q1'22. Beyond transcoding, Livepeer aims to build the world's open video infrastructure and become the go-to decentralized tech stack for developers integrating video streaming and AI video compute capabilities into their apps.     [Messari Governance] [Osmosis DAO] Migrate Persistence LiquidStakeRate Contract (768). This proposal aims to upload and migrate the Persistence LiquidStakeRate contract on the Osmosis chain. In response to community feedback, changes have been implemented in the contract to facilitate queries for the exchange rate and the redemption rate.     [Messari Key Developments] [Kava] Kava 16. Kava mainnet will upgrade to the Kava 16 Release at block 9,561,866, estimated to arrive on Apr. 24, 2024, at approximately 15:00 UTC. Node operators are required to upgrade to Kava v0.26.0. This upgrade aims to reduce the frequency of CDP begin blocker logic in order to improve block execution performance, BEP3 asset decimal conversion logic to enable conversion to EVM assets for integration with Binance Smart Chain, the addition of IBC packet forwarding middleware, and an upgrade to Cosmos v0.47.x from v0.46.x. Knowledge Seekers Rejoice, It's Quarterly Season!   What are Messari Quarterly Reports? With the arrival of the new year, the Messari team is excited to kickoff the release of our Q4 2023 quarterly reports. Our quarterly reports highlight top crypto protocols and present key metrics & indicators as well as important events to provide a full picture of the project's latest developments. Learn more about projects you are invested in or interested in and receive a clear look at project fundamentals and financial reporting. Dive into our current and past quarterly reports available in our Protocol Reporting research page. Keep an eye out for reports with "🗓️" in Unqualified Opinions so you don't miss them! ALSO POPULAR ON MESSARI Navigating Memecoin Mania A Lending Renaissance Polkadot OpenGov Deep Dive Ethena - The Goddess of Yield Quantifying Narratives 🗓️ Q1 2024 Quarterly Reports 🗓️ State of 1inch Q1 2024 🗓️ State of Bitcoin Q1 2024 🗓️ State of Solana Q1 2024   Upgrade your digital asset operations with Fordefi's next-gen MPC wallet. Fordefi is purpose-built for DeFi, enabling you to scale your on-chain strategies across thousands of dApps while staying protected with MPC. Our platform is trusted by leading institutions: Pantera Capital, Figment, Flare Network, and more. OTHER NEWS AND TOP READS Crypto Exchange OKX's Polygon-Powered Layer 2, 'X Layer,' Hits Public Mainnet ICP's Schnorr integration ushers in Bitcoin DeFi era Korean won becomes world's most traded fiat for crypto traders: Report Solana DEX Drift to Airdrop 100M Tokens in Weeks Gold Beats Its All Time High Tether, Circle Diverge on How to Tackle Global Patchwork of Stablecoin Rules Arkham's top 5 doxed crypto hodlers own $3.5B, but 35% is untouchable Analyst Who Called Bitcoin's Pre-Halving Rally to $70K Turns Bearish Bored Ape NFT floor price hits lowest point in over two and a half years Runes Will Help Bitcoin DeFi 'Close the Gap' on Ethereum, Solana: Franklin Templeton Disclosure: Authors may own cryptoassets named in this newsletter. For more information, please visit messari.io.   Unqualified Opinions, a Messari newsletter, is meant for informational purposes only. It is not meant to serve as investment advice. 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