The problem eigenbtc solves

Restaking Bitcoin

• bitcoin staking is now possible via Babylon and others.
• no tooling yet to build restaking on bitcoin.

EigenBTC solves this problem!.

EigenBTC enables ethereum users to create BTC staking pools on babylon chain, using schnorr signatures on bitcoin and IBC. The staked rewards are sent to a MultisigThresholdPubkey on cosmos, but controlled via zetachain

Challenges I ran into

Eigenlayer on Babylon

The original goal was to build eigenlayer ontop of babylon chain. Babylon chain didnt launch a usable testnet until wednesday morning so the project got delayed until we could actually test the hypothesis.

It was challenging to figure out how to create multiparty bitcoin signatures, then connect to babylons testnet and wire everything up. The main issue was due to the number of different libraries and chains involved:

• bitcoin -> zeta
• bitcoin -> evm
• bitcoin -> IBC

doing cross chain dapp development is still unbelievelbly compleicated!

• evm to cosmos is hard
• evm to bitcoin is hard
• key generation and storage is hard
• none of the bitcoin providers supported signet BTC

on the last day of the hackathon babylon shut down their testnet so we were not able to demo our working prototype