Babylon Just Launched Bitcoin Staking
Babylon just dropped the first phase of its self-custodial Bitcoin staking mainnet. Over 12,710 stakers have already jumped in, performing over 20,600 delegations.
Key points:
- Bitcoin staking is live: Babylon’s self-custodial mainnet now lets you stake your $BTC via smart contracts.
- Huge interest: 12,710 stakers are already securing rewards.
- Beyond holding: Bitcoin is more than just HODLing; it’s now yield-bearing too.
- Backed by big bucks: Babylon raised $70M in May 2024 to make this happen
Bitcoin Staking Is Here
Bitcoin staking is officially here, and Babylon just opened the floodgates.
Their self-custodial mainnet lets you stake your $BTC without handing it over to any third-party middlemen. Over 12,710 stakers have already jumped in, locking up a cool 1,000 $BTC.
No surprise, this sent Bitcoin transaction fees skyrocketing to $132 at launch – guess everyone’s eager to get a piece of that staking pie.
Babylon isn’t just flexing; they’ve raised $70M to make this happen, with big names like Paradigm backing them.
Their mission? To turn Bitcoin into the security guard of Proof-of-Stake (PoS) chains like Cosmos and Polygon. No wrapping, bridging, or pegging needed – just good ol’ $BTC doing more than ever before.
And the perks? Babylon’s staking protocol lets you earn rewards while boosting security (win/win).
Plus, with fast unbonding and cross-chain compatibility, you can dip your toes into DeFi without losing liquidity.
This is a new era for Bitcoin, and it’s bringing all the yield-bearing, security-boosting action we didn’t know we needed.
