The Pell Network is an omnichain BTC restaking network that allows users to repurpose their staked Bitcoin to secure applications. Pell bootstraps security by operating like a marketplace for stakers and developers. Developers offer incentives to validators to allocate their restaked BTC to secure the developers' applications. Applications built on Pell Network are known as Decentralized Validated Services (DVSs). Pell plugs the gap in ecosystem security, reduces the cost of building decentralized applications, and offers passive income for BTC holders. It opens up new possibilities for developers to seamlessly and securely create innovative infrastructure designs.
The Pell Network is designed as a decentralized cloud infrastructure for Bitcoin, providing new opportunities for stakers and developers. Stakers can reach Bitcoin's full capital potential by staking their BTC, earning yield from incentives, and delegating their assets to their preferred DVSs. For developers, Pell creates a cryptoeconomic security dimension to BTCFi (the decentralized finance ecosystem for Bitcoin).
Image from Pell Network Docs here.
Pell allows for the deployment of idle BTC Liquid Staking Derivatives (LSD) into DVSs, creating a universal trust network that not only expands the application boundaries of Bitcoin but also provides additional yield opportunities. Leveraging its unique design, Pell maximizes the use of Bitcoin by integrating with projects like Babylon, extending the value chain of BTCFi. Specifically, BTC LSD holders can restake their assets into DVSs through Pell, thus earning security rewards from Babylon’s Proof-of-Stake (PoS) while enhancing capital efficiency.
Validation Cloud is proud to support Pell Network as a validator on testnet. Consistently ranked as a top validator on Rated, Validation Cloud provides the highest levels of performance and security for its validators. Validation Cloud is excited to see how Pell Network continues to innovate in the Bitcoin restaking space and become a leader in BTCFi.
Validation Cloud is a Web3 data streaming and infrastructure company that connects organizations into Web3 through a fast, scalable, and intelligent platform. Headquartered in Zug, Switzerland, Validation Cloud offers highly performant and customizable products in staking, node, and data x AI. Learn more at validationcloud.io, X, LinkedIn, YouTube, blog, and the High Stakes Podcast.