New Bitcoin Staking Protocol Witnesses Surge in GitHub Activity As Chainlink Continues To Top DeFi Sector in Development: Santiment

A new Bitcoin (BTC) staking protocol has witnessed a surge in recent development activity, becoming one of the most active decentralized finance (DeFi) projects on GitHub, according to the crypto analytics firm Santiment.

Babylon (BABY), which launched in April, aims to fix latency, security and programmability issues associated with BTC, something layer-2 projects have struggled with in the past.

Santiment notes that the staking protocol clocked 155.73 notable GitHub events in the past 30 days, the third-most of any DeFi project.

Second on the list is DeepBook Protocol (DEEP), which clocked 236 events. The DeepBook project is a decentralized central limit order book (CLOB), which is what exchanges use to facilitate buying and selling between traders by recording bids and offers.

And topping the rankings in the decentralized oracle network Chainlink (LINK), with 274.67 events. Chainlink and DeepBook also occupied the top two spots on the list last month and in May.

The analytics firm notes that it doesn’t count routine updates and relies on a “better methodology” to collect data for GitHub events based on a backtested process.

Santiment has previously explained that crypto projects with lots of development could soon be shipping new features and are less likely to be exit scams.

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