SatLayer
SatLayer is a Bitcoin restaking protocol built on Babylon that lets BTC and BTC LST holders secure Bitcoin Validated Services (BVS) and earn yield, deployed across Babylon Genesis, EVM chains, and Sui. It serves crypto holders, BVS developers, and node operators via a self-serve, take-rate model with $200M TVL.
- Company typePrivate
- Founded2024
- HeadquartersSingapore, Singapore
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
What SatLayer does
SatLayer is a Bitcoin restaking protocol that operates as the economic layer for the Babylon Bitcoin staking ecosystem, enabling holders of native BTC and Bitcoin Liquid Staking Tokens (LSTs) to restake their assets and earn additional yield on top of native staking rewards. The platform's core product, Bitcoin Validated Services (BVS), allows restaked BTC to secure external services — dApps, protocols, oracles, and bridges — through a network of node operators who validate services against delegated collateral, with programmatic slashing conditions enforcing operator accountability. Supporting infrastructure includes Cube by SatLayer (a liquid staking token cBABY for Babylon's BABY governance token), the SLAY ecosystem/governance token, and the Sats² off-chain rewards program. The protocol is deployed across multiple execution environments: Babylon Genesis (Cosmos SDK, Rust/CosmWasm), EVM chains (Ethereum, BNB Chain, Berachain, Bitlayer) using Solidity, and Sui, with comprehensive audit coverage from eight firms spanning all three environments.
The business model is transaction-based take-rate: SatLayer charges an undisclosed protocol fee on BVS restaking yields and a disclosed 10% fee on BABY staking rewards earned through Cube (applied to rewards only, not principal). The company operates a self-serve, product-led go-to-market with no disclosed sales function, distributing primarily through its app.satlayer.xyz application, partner blockchain ecosystems (Babylon, Sui, Berachain, BNB Chain, Bitlayer, BOB, TAC), and community-driven acquisition via Discord, referral programs, and joint campaigns. Revenue is not publicly disclosed. SatLayer is incorporated in the British Virgin Islands as Mithril Global Ltd., headquartered in Singapore, and was founded in 2024 with $8M in pre-seed funding (oversubscribed) led by Castle Island Ventures and Hack VC with participation from Franklin Templeton Digital Assets, OKX Ventures, and others. The platform reports $200M TVL with ₿200M BTC restaked, positioning it within the broader BTCFi sector that targets over 14 million idle BTC for yield-generating activity.
SatLayer firmographics
Firmographics- Name
- SatLayer
- Legal name
- Mithril Global Ltd.
- Website
- https://satlayer.xyz
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- SatLayer is a Bitcoin restaking protocol built on Babylon that lets BTC and BTC LST holders secure Bitcoin Validated Services (BVS) and earn yield, deployed across Babylon Genesis, EVM chains, and Sui. It serves crypto holders, BVS developers, and node operators via a self-serve, take-rate model with $200M TVL.
- Ownership category
- akta.pro rank
SatLayer industry classification
Industry- Product category
- Bitcoin Restaking Protocol
- NAICS
- Commodity Contracts Intermediation (523160)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Staking Validators (PoS) & Delegation Services (FSADAKAC)
Keywords
Where SatLayer is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Markets served
SatLayer business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Restaking Protocol Fees: SatLayer charges a fee on restaking yields generated through its protocol. The specific fee rate is not publicly disclosed on the website but is applied to BVS rewards earned by restakers.
- cBABY Staking Reward Fee: Cube by SatLayer charges a 10% fee on BABY staking rewards earned through the Cube liquid staking product. The fee applies only to rewards; principal is returned in full upon unstaking.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Restaking (Babylon Genesis) |
| Transaction based/ take rate | Pay-as-you-go | Cube cBABY Liquid Staking (Babylon Genesis) |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels7 records
SatLayer product offering
Product offeringCore offering
SatLayer is a Bitcoin restaking protocol built on Babylon's staking infrastructure that enables Bitcoin and Bitcoin Liquid Staking Token (LST) holders to restake their assets to secure Bitcoin Validated Services (BVS) and earn additional yield on top of native staking rewards. The protocol operates as the economic layer for Bitcoin, deployed across EVM chains (Ethereum, BNB Chain, Berachain, Bitlayer), Sui, and Babylon Genesis, with operators validating external services using delegated BTC collateral.
Product overview
SatLayer is a Bitcoin re-staking platform that functions as the economic layer for Bitcoin, making BTC fully programmable through the Babylon staking protocol. The product portfolio consists of SatLayer as the core Bitcoin restaking platform built on Babylon, which enables users to restake Bitcoin and Liquid Staking Tokens (LSTs) to secure Bitcoin Validated Services (BVS) and earn yield. The ecosystem includes Cube by SatLayer, a liquid staking token (LST) sub-product for Babylon's BABY token that issues cBABY, allowing users to maintain staking rewards while using their position in DeFi or restaking applications. SatLayer's infrastructure supports multiple chains including Babylon Genesis, EVM chains (Ethereum, BNB Chain, Berachain, Bitlayer), and Sui, with a developer ecosystem for building BVS applications. The platform also includes the SLAY governance token, the Sats² rewards program for incentivizing deposits and community participation, and operator services for validating Bitcoin Validated Services.
Differentiator
Problem solved
Functional benefit
Brands
- Cube by SatLayer: Liquid staking token (LST) for Babylon's BABY governance token. Allows users to stake BABY and receive cBABY, which can be used in DeFi or restaked via SatLayer while continuing to earn staking rewards.
Products and services
- SatLayer Platform The SatLayer Platform is a Bitcoin restaking protocol built on Babylon that allows users to restake Bitcoin and Liquid Staking Tokens (LSTs) to secure Bitcoin Validated Services (BVS) and earn yield. It functions as a coordination layer connecting restakers with operators who validate services on behalf of stakers, designed for individual BTC holders and crypto users seeking yield on idle Bitcoin.
- Cube by SatLayer Cube by SatLayer is the official liquid staking token (LST) for Babylon's governance token BABY, built natively on Babylon Genesis. Users stake BABY to receive cBABY, a liquid representation that maintains staking rewards while being usable across DeFi, restaking, and other applications. It is fully integrated with SatLayer's restaking layer for additional yield.
- cBABY Token cBABY is the liquid staking token issued by Cube by SatLayer when users stake their BABY tokens. It uses a non-rebasing exchange rate mechanism where the value of cBABY increases over time as staking rewards accumulate. cBABY is transferrable and can be used in DeFi or restaked via SatLayer to earn additional yield.
- Bitcoin Validated Services (BVS) Bitcoin Validated Services (BVS) are services secured by Bitcoin through SatLayer's restaking infrastructure. Developers can build applications and infrastructure that leverage Bitcoin shared security and liquidity, with services including on-chain insurance, liquidity float, and other use cases that generate real and sustainable yield.
- SLAY Token SLAY is the ecosystem token of SatLayer that underpins governance, aligns incentives, and ensures the protocol's sustainability. SLAY holders can stake their tokens to participate in governance and earn rewards, with the token part of the broader Sats² rewards program.
- Sats² Rewards Program Sats² is SatLayer's off-chain reward points system that measures user contributions to the ecosystem. Users earn Sats² by depositing BTC, BABY, and SLAY assets, referring friends, and participating in community campaigns, with points earnable across Babylon Genesis, EVM vaults, and Sui vaults.
- SatLayer Operator Service SatLayer Operators are organizations or teams responsible for validating Bitcoin Validated Services against collateral delegated to them in vaults. Operators receive delegated stake from stakers and use that capital to validate BVSs on behalf of restakers, taking on responsibilities including system setup, stability maintenance, security, and network connectivity.
- SatLayer App The SatLayer App is a user interface enabling participants to interact with the SatLayer protocol for re-staking Bitcoin and related tokens. The app provides tools to deposit BTC and LSTs into vaults, track positions, manage restaking, and claim rewards across multiple chains including Babylon Genesis, EVM chains, and Sui.
- SatLayer CLI SatLayer CLI is a command-line tool for developers to interact with the SatLayer protocol. It provides functionality for BVS directory, delegation management, strategy configuration, and chain operations, and is part of SatLayer's developer toolbox for building BVS applications on the platform.
Quantifiable outcome
- $200M Total Value Locked and ₿200M BTC Restaked
- +1 more outcomes
Companies that use SatLayer
Customer profileSegments3 records
Ideal customer profiles3 records
SatLayer technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
Feature8 records
SatLayer partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered flagship, core and major.
- BabylonflagshipCore protocol partner. SatLayer is the exclusive restaking partner of Babylon Labs. Built on Babylon's Bitcoin staking infrastructure, SatLayer enables BTC restaking via Babylon Genesis and leverages Babylon's staking protocol for BTC rewards and Bitcoin Validated Services.
- SuicoreBitcoin restaking partner for Sui blockchain. SatLayer enables Sui users to restake BTC assets (LBTC, OKX xBTC) to earn additional yield, with promotional campaigns like Sui City Bingo driving adoption.
- BerachaincoreBitcoin restaking partner for Berachain, an EVM-identical L1 blockchain using Proof of Liquidity. SatLayer enables Berachain users to restake BTC assets through the protocol.
- BNB ChainmajorSatLayer supports BTC restaking on BNB Chain, enabling BNB Chain users to deposit BTC assets and participate in restaking through the protocol.
- BitlayermajorSatLayer supports BTC restaking on Bitlayer, the first Layer 2 solution for Bitcoin offering Bitcoin-equivalent security and Turing completeness.
- BOBmajorSatLayer supports BTC restaking on BOB (Build on Bob), a Hybrid L2 fusing Bitcoin and Ethereum strengths. Joint promotional campaigns (Restake uniBTC on Build on Bob) drive mutual user acquisition.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
SatLayer competitors and assessment
Company assessmentDirect peers
- Solv Protocol: Solv is a Bitcoin LST protocol whose tokens can be restaked through SatLayer. Like Lombard, Solv both feeds into SatLayer's ecosystem and competes for direct BTC yield opportunities, making it a hybrid partner-competitor in the BTCFi space.
- Lombard Finance: Lombard issues LBTC, a Bitcoin liquid staking token that integrates with SatLayer for restaking. However, Lombard also pursues its own yield products and Babylon integrations, positioning it as both a partner and a competitive peer for BTC yield capture.
- EigenLayer: EigenLayer pioneered the restaking concept on Ethereum, enabling ETH holders to restake and secure Actively Validated Services (AVS). SatLayer is the Bitcoin-native analog, applying the same shared-security model to BTC through Babylon — making EigenLayer the closest conceptual and architectural peer.
- Karak: Karak is a multi-chain restaking protocol that enables users to restake assets across multiple networks to secure various services. Like SatLayer, it emphasizes multi-chain compatibility and serves as a direct conceptual peer in the broader restaking landscape.
- Symbiotic: Symbiotic is a competing restaking protocol on Ethereum that uses a modular approach to shared security, allowing multiple collateral types and customizable slashing conditions. It represents a directly comparable alternative architecture for crypto restaking coordination.
Emerging players
- pSTAKE Finance: pSTAKE is a liquid staking protocol with multi-chain support across Cosmos and Ethereum ecosystems. While focused on liquid staking rather than restaking, it targets similar BTC and ETH yield-seeking users and operates comparable validator coordination infrastructure.
- Renzo Protocol: Renzo is an EigenLayer-based liquid restaking protocol that pioneered the LRT category on Ethereum. It represents an emerging competitor with comparable architecture targeting similar shared-security coordination problems.
- Stader Labs: Stader is a multi-chain liquid staking protocol with native support for multiple L1s. It targets similar yield-seeking users across the same chain ecosystems SatLayer operates in (Cosmos, EVM chains), making it an adjacent competitor for staking yield distribution.
- Bedrock: Bedrock is a multi-asset liquid restaking protocol co-built with RockX that supports uniBTC and other restaked assets. It is both a BVS partner on SatLayer and a competing platform for Bitcoin restaking yield distribution.
Broad incumbents
- Babylon Labs: Babylon is the foundational Bitcoin staking protocol that SatLayer is built upon. While currently a partner, Babylon could compete directly with SatLayer if it expands its own restaking primitives natively, potentially relegating SatLayer to a narrower intermediary role.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
SatLayer social profiles
Digital presenceSatLayer compliance and trust
Trust signalCompliance8 records
SatLayer financial estimates
Financial estimateRevenue estimate
Valuation estimate
SatLayer leadership team
Management profileNumber of profiles
Profiles2 records
SatLayer subsidiaries and ownership
Company hierarchySubsidiaries1 record
SatLayer funding detail
Funding detailFunding overview
Funding rounds1 record
Investors9 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SatLayer M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SatLayer
What does SatLayer do?
SatLayer is a Bitcoin restaking protocol built on Babylon's staking infrastructure that enables Bitcoin and Bitcoin Liquid Staking Token (LST) holders to restake their assets to secure Bitcoin Validated Services (BVS) and earn additional yield on top of native staking rewards. The protocol operates as the economic layer for Bitcoin, deployed across EVM chains (Ethereum, BNB Chain, Berachain, Bitlayer), Sui, and Babylon Genesis, with operators validating external services using delegated BTC collateral.
Is SatLayer a public or private company?
SatLayer is a private company. It is classified as venture growth investor backed and is currently operating.
When was SatLayer founded?
SatLayer was founded in 2024. It employs 1 to 10 people.
Where is SatLayer based?
SatLayer is headquartered in Singapore, Singapore, in the Asia region.
How does SatLayer make money?
Two revenue lines are on record. Restaking Protocol Fees are the primary driver. The others are cBABY Staking Reward Fee.
Who are SatLayer's main competitors?
Direct peers on record are Solv Protocol, Lombard Finance, EigenLayer, Karak and Symbiotic. Emerging players are pSTAKE Finance, Renzo Protocol, Stader Labs and Bedrock. Babylon Labs is listed as a broad incumbent.
Does SatLayer have an API?
No public API is recorded for SatLayer.
What industry is SatLayer in?
SatLayer's product category is Bitcoin Restaking Protocol. Its primary akta.pro industry code is FSADAKAC, Staking Validators (PoS) & Delegation Services. Its NAICS code is 523160 and its SIC code is 6200.