On December 4th, COINOTAG News reported that the Lorenzo Protocol has forged a significant partnership with both the Cetus Protocol and NAVI Protocol, alongside Babylon Labs, aimed at enhancing Bitcoin liquidity on the Sui Network. This collaboration is underpinned by robust backing from prominent firms such as Cobo, Ceffu, and ChainUp, who are committed to developing a multi-institutional custody solution for Bitcoin that adheres to the stringent security requirements of the Move ecosystem.
As a result of this integration, Lorenzo has successfully connected with NAVI and Cetus, marking the introduction of stBTC as the first yield-bearing Bitcoin asset on the Sui Network. Furthermore, the protocol has kicked off the initial phase of user engagement, allowing participants to earn Lorenzo Points and attractive rewards through the use of stBTC on both Cetus and NAVI platforms. In the coming weeks, the Lorenzo Protocol plans to roll out the native minting of stBTC, significantly broadening Bitcoin liquidity and creating additional revenue streams for its user base.