htwtech
@htwtech
Pell Network: scaling BTC yields with secure restaking 💰
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htwtech
@htwtech
Some time ago, we wrote about @Pell_Network, but the project has been moving forward so quickly and in such a cool way that we felt it was time for a deeper look.
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htwtech
@htwtech
Pell Network is pioneering a unique approach to BTC staking, aiming to help users maximize their returns on idle assets. By introducing an Omnichain DVS (Decentralized Validated Services) network, Pell enables BTC holders to securely restake their tokens and earn additional rewards. 💻
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htwtech
@htwtech
The project recently raised $3 million in pre-seed funding to support its development, with backing from notable investors like Paper Ventures, Halo Capital, and Mirana Ventures. This capital infusion will fuel Pell's efforts to enhance crypto-economic security and bring more utility to the BTC ecosystem.
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htwtech
@htwtech
Pell has forged strategic partnerships with leading blockchain projects like MezoNetwork, Babylon Labs, and Satoshi Protocol. These collaborations unlock features like $tBTC bridging, $satUSD liquidity, and liquid staking tokens - all designed to make BTC more integrated with decentralized finance. 🌐
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htwtech
@htwtech
Technically, Pell is built on a robust stack, leveraging Tendermint PBFT consensus, Verifiable Random Functions, and Trusted Execution Environments. This architecture prioritizes scalability, security, and efficiency - key attributes for a platform aiming to onboard more BTC users and apps. 🔒
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htwtech
@htwtech
Looking ahead, Pell has an ambitious roadmap that includes launching on BTC Layer 2, developing new validation service modules, and introducing ecosystem-wide initiatives like grants and governance. 🗓️ The project is also currently running a testnet launch and airdrop campaign, inviting early adopters to engage with the platform and earn rewards. 💸
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htwtech
@htwtech
Overall, Pell Network stands out as an innovative solution to enhance BTC utility and productivity. By making staking more accessible and rewarding, the project aims to drive greater adoption of decentralized technologies within the Bitcoin ecosystem.
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htwtech
@htwtech
📍If you want to dive deeper into the world of Pell Network and learn more about similar projects, check out our Medium via the link in our profile. We've got tons of cool content that you don't want to miss! 🔗
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htwtech
@htwtech
#Pell_Network #HighTower #htwtech
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