Pell Network operates as an omnichain Bitcoin restaking network designed specifically for the decentralized finance (DeFi) ecosystem built around Bitcoin (BTCFi). It enables Bitcoin holders to leverage their existing BTC assets to secure and earn yield across various Layer 2 and cross-chain protocols. This platform facilitates the expansion of Bitcoin's utility beyond simple holding by integrating it into broader DeFi security and staking mechanisms.
Funding
$3.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Bitcoin's capital is underutilized, as staked Bitcoin assets often lack the ability to earn yields from multiple incentive layers, leading to inefficiencies for stakers. Existing methods for maximizing returns on Bitcoin assets are not streamlined, limiting the potential for users to fully unlock the value of their holdings.
Solution
Pell Network operates a decentralized restaking network for Bitcoin, enabling users to earn yields through a multi-layered incentive structure while securing decentralized validated services (DVS). By restaking BTC Liquid Staking Derivatives (LSD), Pell Network creates a universal trust network that enhances security and yield across multiple chains. The platform supports EVM-compatible chains, Solana, Sui, and other Move-based blockchains, maximizing earning potential while serving diverse decentralized applications across multiple networks. Pell Network's DVS flexibly adapts to different validation scenarios, delivering efficient economic security for developers and projects and reducing the costs of building independent validation layers.
Target Audience
The primary audience includes Bitcoin holders seeking to maximize their returns through restaking, developers looking for secure and cost-effective validation services, and projects requiring cryptoeconomic security for decentralized infrastructure.
Features
- Omnichain architecture facilitates cross-chain service provision across various smart contract platforms
- Supports EVM and WASM contract engines for a robust and feature-rich programmable trust layer
- Leverages Cosmos SDK for seamless integration with the Inter-Blockchain Communication (IBC) protocol
- Decentralized profit management ensures project owners maintain control over revenue streams through smart contracts
- Restaking model creates a security chain from BTC LSD to DVS, employing a multi-layered yield structure
- Modular architecture of DVS is divided into large-scale and lightweight modes for flexible scaling
- Provides cryptoeconomic security to decentralized infrastructure through BTC LSD restaking
- Supports BTC assets, such as BTCB, SolvBTC, coreBTC, tBTC, LBTC (Lombard), wBTC (Bitlayer), and stBTC (Lorenzo)