The Bitcoin DeFi revolution is gaining momentum!
Following the launch of our Bitcoin Is On The Move event, over 30,000 new stBTC holders have joined the Lorenzo mission from the Sui ecosystem, marking a monumental leap for Bitcoin liquidity and utility within Move’s dynamic DeFi landscape. This achievement highlights the growing demand for yield-bearing Bitcoin solutions and highlights Lorenzo Protocol’s pivotal role in bridging BTC liquidity to emerging ecosystems like Sui.
What Is stBTC?
stBTC is a novel Babylon reward-bearing BTC-equivalent liquid staking token. Designed to empower Bitcoin holders, it earns yields through Lorenzo Protocol’s advanced staking mechanisms and Babylon’s yield strategies. This makes stBTC a powerful tool for BTC holders looking to unlock liquidity, earn rewards, and actively participate in decentralized finance—all while maintaining exposure to Bitcoin’s price movements.
Notably, stBTC became the first yield-bearing BTC-equivalent token launched and fully technically integrated with Sui — a major milestone for all of Bitcoin DeFi.
You can track stBTC's progress on Sui here - https://suivision.xyz/coin/0x5f496ed5d9d045c5b788dc1bb85f54100f2ede11e46f6a232c29daada4c5bdb6::coin::COIN?tab=Holders
Milestone Highlights
The recent "Bitcoin Is On The Move" campaign has set the stage for stBTC’s explosive growth in the Move ecosystem. With more than 30,000 new participants, Lorenzo Protocol has demonstrated how Bitcoin liquidity can be seamlessly integrated with Move’s premier DeFi platforms, Cetus and NAVI Protocol.
This milestone isn’t just about numbers—it represents the broader adoption of BTC liquidity solutions powered by Lorenzo. The event’s final results are forthcoming, but here are the key data points that will be updated:
Event Metrics
Overall Participation
- Total stBTC holders added: 32,715
NAVI
A key DeFi protocol on Sui, NAVI enables stBTC holders to use their assets as collateral, earning lending yields while maximizing the utility of their Bitcoin holdings.
- Total stBTC Deposited to NAVI Protocol: .81 BTC (~$81,000)
- stBTC Deposits: 13,315 unique wallets
- WBTC Borrowing: 12,966 unique wallets
- vSUI Borrowing: 699 unique wallets
Cetus
The leading DEX in the Move ecosystem, Cetus ensures low-slippage trading and deep liquidity pools for stBTC, creating a robust marketplace for BTC-based trading pairs.
- Total stBTC Trading Volume: $497,994
- Total stBTC Bought on Cetus: 4.26 stBTC
- Total unique wallets engaged: 33,657
What’s Next for Lorenzo and Sui
To build on this momentum, we are actively working on integrating Sui Wallet into its staking dApp, enabling even more seamless interactions for users in the Move ecosystem. Additionally, the team is developing native stBTC minting on Sui, which will allow users to mint stBTC directly within the ecosystem, streamlining the staking and liquidity process.
Addtional Move ecosystem partnerships are also in the works, ensuring that stBTC holders can access an even wider range of DeFi applications and earning opportunities.
Unlocking Continuous DeFi Engagement and Rewards
Lorenzo Protocol’s successful integration with the Sui ecosystem marks a new chapter for Bitcoin DeFi. By partnering with Cetus and NAVI Protocol, Lorenzo continues to demonstrate the potential of stBTC as a cornerstone for liquidity and utility within Move’s growing DeFi landscape.
With 30,000+ stBTC holders now active on Sui, the momentum behind our mission to unlock Bitcoin liquidity is undeniable. As the protocol expands its integrations and partnerships, the future of Bitcoin liquidity within the Move ecosystem looks brighter than ever.
Stay tuned for further updates as Lorenzo continues to pioneer the next era of Bitcoin DeFi.
If you enjoyed this blog, share it with a friend and invite them to the Lorenzo community!
To stay informed on all Lorenzo staking updates and opportunities, please visit and follow the regular updates on X (Twitter), Medium, Telegram, and Discord.
