Welcome to the second post in a new series of BOB ecosystem spotlights. Today we’ll be taking a closer look at one of BOB’s very first integration projects, Pell Network.
Pell have been utilising the BOB Gateway SDK to enable users to seamlessly bridge native BTC into wrapped BTC on BOB. Through our one-click staking portal, Pell users can restake their SolvBTC, tBTC, uniBTC, SolvBTC.BBN (or WBTC) on BOB to make additional yield.
So without further ado, let’s dive right in.
What is Pell?
Pell Network is the first Omnichain BTC restaking network which aims to extend BTCFi to the cryptoeconomic security domain—unlocking BTC’s full potential.
Pell’s Network tackles cryptoeconomic security fragmentation by creating a shared security pool and trust marketplace between restakers (BTC or BTC LSD holders) and DVSs (services needing security). This arrangement rewards restakers while allowing DVSs to lease security instead of building costly frameworks from scratch.
Meet the Team
Driving this decentralized BTC restaking vision forward are co-founders Steven Chen and Makato, who have 16+ years of combined CeFi and DeFi experience, and a wealth of technical and business expertise.
Both were inspired to build Pell after identifying that developers who needed network security were often getting stuck when trying to integrate different crypto economic security services—a clear gap in completing the value chain.
Since then, Pell has raised $6.5M ($3M in pre-seed funding and $3.5M in a strategic round), launched its testnet, integrated with 18 chains, and currently has $327 million in staked BTC assets from roughly 505,000 cumulative stakers.
Why They Are Interesting
By enabling decentralized Bitcoin restaking without added complexity, Pell offers extra layers of DeFi yield to BTC holders. While users are earning a base yield (e.g., through Babylon or Solv Protocol), Pell adds additional rewards simply by restaking those BTC LSDs. The best part is no bridging or separate transactions is required.
Pell’s aim here is to create a “1+1=2” approach that appeals to Bitcoin holders who want steady returns, but without having to encounter the complexities and risks associated with more sophisticated DeFi protocols/tools.
Pell also benefits developers, as it extends Bitcoin’s security to various DVSs, each with its own slashing and reward parameters. Rather than building a new trust network from scratch or relying on volatile native tokens, projects can integrate with Pell to reduce overheads, speed up deployment, and tap into a global pool of node operators.
To quote Makoto, Pell is looking to build “an AWS-like restaking solution for any blockchain.”
What This Means for BOB Users
Below are some of the ways BOB users are benefiting from this integration:
- Seamless BTC onboarding
Thanks to Pell’s integration with the BOB Gateway SDK, users can convert native BTC into a wrapped BTC derivative (like uniBTC or SolvBTC) and restake it on Pell—through a single transaction. No juggling multiple wallets or complex bridges. - Simplifying user experience
Pell bundles BTC bridging, staking, and restaking into one streamlined flow. Newcomers can stake BTC with minimal steps, while experienced DeFi users enjoy a more convenient path to multiple yield streams. - Multiple yield layers
Beyond base rewards from other protocols, Pell’s restaking automatically generates additional returns. Because the BOB Gateway mints and deposits the newly created BTC LST before it even reaches the user’s wallet, you start earning extra points or tokens right away.
Pell currently offers two main strategies on BOB:
- Pell-uniBTC-Babylon: Earn Spice, Pell points, Bedrock Diamonds, and Babylon points.
- Pell-SolvBTC-Babylon: Earn Spice, Pell points, Solv points, and Babylon points.
What’s Next
Pell and BOB share a commitment to unlocking Bitcoin’s liquidity for broader DeFi use. As Pell moves toward mainnet launch and explores additional L1 ecosystems, Omnichain BTC restaking is poised for significant growth. In parallel, Pell is also planning to become a DeFAI infrastructure platform, embracing AI’s potential to further streamline DeFi. By working together, Pell and BOB will continue to lower barriers to Bitcoin DeFi, drawing in more users, more liquidity, and accelerating the evolution of BTCFi.
