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Bybit Launches bbSOL, the World’s First Exchange-Backed Liquidity Staking Token on Solana

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DUBAI, UAE, Sept. 5, 2024 /PRNewswire/ — Bybit, the world’s second-largest crypto exchange by trading volume, proudly announces the launch of bbSOL, its first exchange-based Liquid Staking Token (LST), in collaboration with Sanctum, Kamino Finance, Orca and Solayer, on the Solana (SOL) blockchain. This innovative initiative is set to transform the Solana ecosystem, offering significant advantages to all its participants.

bbSOL bridges Bybit’s centralized exchange (CEX) and Web3 platforms, providing users with consistent and reliable rewards. By staking Solana on Bybit Web3, users receive bbSOL tokens, unlocking many earning opportunities across Bybit’s CEX and Web3 products.

“We are excited to introduce bbSOL, a groundbreaking liquid staking token designed to deliver substantial benefits across the Solana ecosystem,” said Ben Zhou, Co-founder and CEO of Bybit. “By facilitating seamless asset management and unlocking new earning potential, bbSOL empowers token holders, project developers, decentralized exchange operators, and liquidity providers to contribute to the growth of the Solana network while maximizing their returns.”

As part of this initiative, Bybit is planning to collaborate with four key partners to maximize the potential of bbSOL:

  • Sanctum‘s deep liquidity enables seamless swaps and withdrawals of SOL, enhancing the utility of staked assets.
  • Orca supports bbSOL swaps and allows users to become liquidity providers, contributing to the stability of the ecosystem.
  • Kamino Finance automates the liquidity provision process through its Liquidity Vault product, streamlining participation in concentrated liquidity decentralized exchanges.
  • Solayer supports bbSOL as a liquid staking token eligible for restaking, enhancing Solana’s security through its restaking network.

“Bybit’s launch of bbSOL marks a significant milestone,” said Lily Liu, President of the Solana Foundation. “Their collaboration with other key players exemplifies Bybit’s commitment to innovation and supports the ongoing development of the Solana ecosystem.”

“It’s awesome that Bybit is launching bbSOL together with Sanctum. This will allow millions of new users to earn real yields on Solana more easily and tap into the entire DeFi ecosystem. This is a historic partnership between centralized and decentralized entities –  a big step for the entire ecosystem,” said FP Lee, Sanctum Co-Founder.

“It’s great to see a leading industry figure like Bybit actively participating in Solana DeFi. It’s rare for an exchange to go beyond listing ecosystem assets and directly engage with DeFi on chain,” said Nathan Davis, Orca CEO.

“The launch of bbSOL is the perfect chance to bring together the power of Bybit’s user base with the opportunities provided by Solana DeFi. We’re excited to onboard bbSOL to Kamino and support its utility & growth in the ecosystem,” said Thomas, Kamino Finance Project Co-Lead.

“Solayer is incredibly excited to launch bbSOL with Bybit, and as the first restaking protocol to integrate a centralized exchange LST on Solana, we aim to foster a deepened relationship to bring the Solana ecosystem forward in the most integrated way,” said Jason Li, Solayer Co- Founder.

Key Benefits and Rewards of bbSOL

bbSOL offers a multitude of benefits and rewards to its participants.

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  • Token Holders: Enjoy passive income, participate in network governance, and access a wider range of financial opportunities.
  • Project Developers: Attract and retain a loyal user base, enhance liquidity for your token, and benefit from increased market visibility.
  • Decentralized Exchange Operators: Boost trading volume, improve liquidity, and attract more users to your platform.
  • Liquidity Providers: Earn competitive yields, contribute to the ecosystem’s stability, and support the growth of the Solana network.

Additionally, participants can earn staking rewards by securing the network, liquidity rewards by providing liquidity to bbSOL trading pairs, and even MEV (Miner Extractable Value) rewards by capitalizing on market inefficiencies.

As the world’s first crypto exchange to announce the listing of Sanctum’s $CLOUD token, which has increased by 15%, Bybit continues bringing new and innovative results to the industry. The launch of bbSOL underscores its continuous commitment to innovation in the cryptocurrency space and its support for the growth of the broader ecosystem.

For more information, please visit: Bybit Web3 – bbSOL

#Bybit / #TheCryptoArk / #BybitWeb3

About Bybit Web3

Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 10 million wallet users, over 20 major ecosystem partners, and counting. 

Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 40 million users globally.

Join the revolution now and open the door to your Web3 future with Bybit.

For more details about Bybit, please visit Bybit Web3.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

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For more details about Bybit, please visit Bybit Press.
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Apt.Residential Selects Yardi’s Technology to Support BTR Projects

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Australian property developer and operator to utilise innovative cloud platform for construction and investment accounting

SYDNEY, Sept. 18, 2024 /PRNewswire/ — Apt.Residential, an owner, developer and operator of residential properties in Australia, has chosen Yardi’s single connected platform to support growth, connect teams and manage capex projects and build.

With Yardi®, Apt.Residential can manage its funds and simplify complex financial processes, mitigate risk and deliver real-time insights into projects. The platform provides more visibility from investor to asset and delivers enhanced and accurate reporting. The company can access live data for costing, expenses, and revenue on all projects, from ground-up development to single-unit improvements and will allow Apt.Residential to grow the volume of units within BTR once they have operational units.

“We wanted to find the best platform for BTR that would support growth, streamline management of capex projects and handle our complex accounting,” said Michael Hogg, co-founder & head of operations for Apt.Residential. “Yardi’s single integrated platform was the best solution as it ensures our team can connect on one system and not worry about integrations or using multiple platforms.”

“We’re excited to work with Apt.Residential and support its growth as the company expands its BTR projects,” said Neal Gemassmer, vice president and general manager for Yardi. “Our connected platform will help Apt.Residential enhance communication and set them up so they’re ready to operate once development has completed.”

See how Yardi’s end-to-end technology can help drive your digitalisation strategies.

About Apt.Residential
Apt.Residential is a leading vertically integrated owner, developer, and operator of residential properties in Australia backed by global institutional capital. The company develops residential communities where wellbeing and connectedness come first. Its human-centric approach allows Apt.Residential to shape places for people who crave comfort, community, and elevated living. For more information, please visit aptresidential.au.

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About Yardi

Celebrating its 40-year anniversary in 2024, Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With over 9,500 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energised for Tomorrow, visit yardi.com.au.

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NewCo Capital Group Continues Global Expansion as 2024 Milestones Set The Stage for an Ambitious Q4

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NEW YORK, Sept. 18, 2024 /PRNewswire/ — As Q4 fast approaches, NewCo Capital Group (“NewCo”) and Australia-based Bizcap are finalizing year-end initiatives to strategically position both companies for an ambitious expansion in 2025.

Both companies have celebrated a highly successful 2024, marked by remarkable and accelerated growth. This momentum has been driven by Bizcap’s unique Line of Credit product, NewCo’s introduction of their “Line of Capital” product and the launch of NewCo’s new mobile app. CEO Albert Gahfi emphasized the importance of closing 2024 on a high note to set the stage for future growth. “We’ve had an exceptional year so far, but our focus is on what comes next. We’re building the foundation for 2025 and beyond, ensuring that NewCo and Bizcap are positioned for continued global expansion.”

The plan for Q4 includes deepening their presence in existing markets while making calculated moves into new territories, including Singapore, Germany, and Luxembourg. “There are new opportunities in emerging markets that are currently underserved, where we believe we can make a significant impact. As a result, 2025 promises to be an exciting year for SMB financing globally.”

By reinforcing their operational and technological infrastructure, the companies are preparing to meet the demands of a rapidly evolving global financing landscape. “2024 has been a year of strong growth, but we’re not stopping here,” Gahfi said. “We are focused on delivering innovative financing solutions that not only meet the needs of today but also anticipate the demands of tomorrow. As we head into 2025, we’re ready to expand our reach and provide even more businesses with the capital they need.”

Part of a multinational collaboration, NewCo and Bizcap have successfully deployed over $1.5 billion to over 35,000 businesses worldwide. Gahfi commented, “We’re moving capital faster and more effectively than any other sector and our clients are benefiting from that growth.”

NewCo’s strength lies in its ability to adapt quickly, using a unique mix of proprietary technology, nuanced underwriting, and an experienced risk management team. The companies’ hybrid approach is challenging outdated financing models, making NewCo a preferred partner for SMBs looking for custom capital solutions that truly fit their needs.

“We’re not just growing; we’re leading,” Gahfi added. “As we expand globally, our goal remains the same—helping small businesses scale, create jobs, and thrive.”

With a clear strategy and a relentless focus on delivering value, NewCo Capital Group is primed to deepen its market influence and capitalize on emerging opportunities. As the company prepares for its next wave of market entries, Q4 will serve as a pivotal launchpad for an even more ambitious 2025, setting the stage for continued growth and global leadership.

For more information, visit www.NewCoCapitalGroup.com.

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NewCo Capital Group
Email: [email protected]
Website: www.NewCoCapitalGroup.com

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Zulu Ecosystems and Severn Trent Water secure Innovate UK funding to pioneer catchment-scale Nature-based Solutions

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  • Partnership aims to develop innovative funding model for nature-based solutions that enhance water resilience in the Idle and Torne catchment, a priority area for environmental improvement
  • Project will aggregate supply and demand for ecosystem services across the 1,200km2 catchment, benefiting both nature and local communities
  • Led by Zulu Ecosystems, the collaboration seeks to accelerate private investment in nature recovery while addressing critical water challenges

LONDON, Sept. 18, 2024 /PRNewswire/ — Zulu Ecosystems and Severn Trent Water have been awarded funding from Innovate UK, the UK’s innovation agency, for a £580,000 project to develop a groundbreaking catchment system operator model for unlocking private investment in nature. The project aims to enhance water resilience and deliver multiple benefits for both nature and local communities in the Idle and Torne River catchment.

The Idle and Torne catchment, identified as a priority catchment by the Environment Agency, faces significant challenges including drought risk, flood vulnerability, and water quality issues. Approximately 60% of water bodies in the catchment currently fail to meet good ecological status. However, the area also presents substantial opportunities for nature recovery, with potential to restore over 5,000 hectares of priority habitats and significantly improve water resources management.

This innovative partnership will leverage Zulu Ecosystems’ cutting-edge natural capital assessment capabilities and Severn Trent Water’s expertise in water management to create a scalable approach for funding and delivering nature-based solutions. The project will focus on interventions such as woodland creation, wetland restoration, and riparian woodland to address the catchment’s pressing environmental challenges. The project will engage local stakeholders, including farmers, landowners, and community groups, to ensure that interventions reflect local needs and knowledge.

Ed Asseily, CEO of Zulu Ecosystems, said:

“This funding from Innovate UK is a game-changer for how we approach local nature recovery and water resilience. By developing a catchment-scale model that aggregates both the supply of and demand for ecosystem services, we can accelerate the flow of private capital into nature-based solutions.”

Severn Trent Water will play a key role as the project’s System Operator, strategically coordinating plans and aligning stakeholder priorities to maximise outcomes for water services and the environment.

Richard Smith, Strategic Asset Planning Manager at Severn Trent Water, commented:

“We’re excited to partner with Zulu Ecosystems on this transformative project. By adopting a system operator approach, we can ensure that investments in nature-based solutions deliver the greatest possible benefits for our customers, local communities, and the environment.”

This project has been funded by Innovate UK as part of the ‘Integrating Finance and Biodiversity for a Nature Positive Future’ programme, a joint initiative between the Natural Environment Research Council (NERC) and Innovate UK. This £7 million programme aims to develop solutions that embed the values of biodiversity into financial decision-making.

By bridging the gap between nature recovery and water resilience, this project has the potential to create a replicable model for sustainable landscape management across the UK. Innovate UK’s support underscores the national significance of developing new approaches to environmental management that can deliver multiple benefits, including improved water security, enhanced biodiversity, climate resilience, and potential new income streams for landowners.

Over the next 9 months, the project team will work closely with local stakeholders to identify priority interventions and develop a portfolio of investable nature-based solutions. The project aims to demonstrate how multi-stakeholder nature-based projects can be developed, funded, and delivered at catchment-scale to address climate adaptation and reverse biodiversity loss. Findings will be published to help scale similar initiatives across the UK and beyond.

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