The Bitcoin staking protocol Babylon raised $70 million in funding led by the venture firm Paradigm.

#Babylon #Paradigm #Bitcoin $BTC #Megadrop #StartInvestingInCrypto

#Babylon Protocol has announced a new testnet phase

The Babylon bitcoin (BTC) steaking protocol has moved to a new testnet phase. The developers are now working on a feature that automatically adjusts the fee

According to a report from the Babylon team, feedback from the community played a significant role in the development of some elements.

Babylon launches new phase of testnet

Babylon, an innovative bitcoin startup that enables BTC steaking, announced the launch of a new phase of the BTC Staking Testnet-4 - Cap 3. It will begin today, June 19, and will be time-limited. Assets will be able to be staked for 120 hours, or five days.

Babylon aims to combine the security and decentralized nature of bitcoin with the flexible smart contracts used in Proof-of-Stake (PoS)-based networks. Earlier this month, the project raised $70 million in investment, indicating growing investor confidence.

"The main goal of testnet is to test and secure bitcoin steaking by testing user interactions with the Signet BTC test network. No separate PoS network will be involved. Bitcoin steaking will be evaluated by cryptocurrency holders, validator teams, wallet providers, and liquid (re)steaking protocols," reads an excerpt from Babylon's official blog.

On the eve of the launch of the new testnet phase, the developers also revealed details of the new commission adjustment feature. The feature has been added to Babylon's decentralized steaking application (dApp). Users will be able to customize the amount of transaction fees.

Cap 3 will deploy when Signet BTC reaches block height #200,665. The ability to block assets in steaking will end on June 24 at 9:00 UTC. At that time, the block height will reach #201,385.

Participants of the new testnet stage will be able to exit the staking and withdraw their funds at any time.
$BTC $SOL $NOT

#BounceBit - Standing Out in the World of "Restaking" Projects? Considering the existence of #Babylon 👇

BounceBit is currently the second project, after Babylon, to receive investment from Binance Labs and is related to the $BTC field.

While previous projects such as AltLayer($ALT ), Puffer Finance, EtherFi ($ETHFI ), or #Renzo are related to staking and restaking $ETH, these two projects have a specific focus on BTC.
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Specifically, Babylon allows users to stake BTC on PoS chains to secure the network and earn rewards. With the Bitcoin staking protocol, users can stake BTC directly without the need for bridging, token wrapping, or third-party services.

Furthermore, Babylon also introduces the Fast Unbonding feature, which allows users to unstake their BTC tokens at any time, instead of being bound by specific stake durations like other PoS chains. For example, Polkadot requires a 28-day unstaking period, while Cosmos requires 21 days.

Babylon's backers include Binance Labs, Polychain Capital, Hack VC, and others, with investments totaling $18 million.
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On the other hand, BounceBit is a Bitcoin restaking and #CeDeFi protocol that aims to expand the capabilities of Bitcoin beyond its traditional role as a store of value.

By utilizing strategies such as funding rate arbitrage and issuing on-chain certificates for restaking and mining, BounceBit combines the best features of centralized finance (CeFi) and decentralized finance (DeFi), unlocking new possibilities for Bitcoin and enabling enhanced yield generation and applications.

BounceBit has received backing from Binance Labs, OKX, Blockchain Capital, Breyer Capital, and others, with investments exceeding $6 million.
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In addition, BounceBit is scheduled to launch its mainnet around the end of May, and there will soon be a phase 2 testnet.

Those who have idle stablecoins or are holding BTC are advised to consider allocating funds to the BounceBit farm. Users can withdraw their BTC to a Meta Bep20 wallet, where it will automatically be converted into BBTC, and then proceed with the deposit.

Solv Protocol has joined forces with Babylon to integrate Bitcoin staking rewards into SolvBTC.

This collaboration will enhance the security of networks like PoS, Rollups, and AVS, while also offering SolvBTC users the opportunity to earn staking rewards.

#SolvProtocol #Babylon #Solv #solvbtc #CryptoWatchMay2024

Potentials of #Bitcoin Staking

This will be a great news not only to the Bitcoin Network but the crypto market at large as the launch of Bitcoin Staking mainnet is coming up in 2024. Just a perfect time for the blockchain industries.

Bitcoin has the leading cryptocurrency as gotten wide adoption around the globe. Getting through Bitcoin was never been easy due to high energy consumption. With the innovation of Bitcoin Staking by #Babylon this made it easy to invest without the borden of energy consumption.

In light of the current economic instability and rising inflation, I would like to talk about the potential of Bitcoin staking to provide a stable, inflation-resistant investment opportunity. An innovation by Babylon expected to be launched in 2024.

With traditional investments like stocks and bonds becoming less attractive, many people are looking for alternative ways to protect their wealth. Bitcoin staking could be one solution, as it provides a way to earn rewards without exposing your assets to market volatility nor being worried of security threat.

Bitcoin staking has the potential to revolutionize the way that blockchain networks operate. By allowing users to lock up their Bitcoin as collateral in exchange for rewards, staking incentivizes network participation and helps to secure the network.

It also provides a new way for users to earn rewards without having to buy and sell Bitcoin, which could lead to more stable prices. Additionally, Bitcoin staking could help to reduce the environmental impact of the Bitcoin network, unlike mining which requires large amount of energy, Bitcoin Staking requires less energy than mining.

It helps to improve the scalability of the Network and enhanced Security for all.
Babylon Chain's standout feature is its commitment to heightened security. By utilizing Bitcoin as its backbone, both PoS chains and Bitcoin itself enjoy a symbiotic relationship of fortified security. It's a win-win scenario where the benefits flow seamlessly in both directions. Join Babylon https://www.babylonchain.io invest #BTC

Nomic, a Layer 1 blockchain, has partnered with Babylon to launch a bitcoin liquid staking token (LST), enhancing its security through staked Bitcoin and NOM.

#Nomic #blockchain #BullorBear #Babylon

Binance Labs makes an investment in the Babylon bitcoin staking protocol

Binance Labs, the venture capital and incubation arm of Binance, makes an investment in a Bitcoin staking protocol that pioneers the concept of native Bitcoin staking. Babylon provides slashable economic security guarantees to the PoS chains while ensuring efficient stake unbonding to enhance liquidity for Bitcoin holders.

Babylon has raised $26M from Polychain Capital, Breyer Capital, Hack VC, Framework Ventures, Polygon Ventures, Castle Island Ventures, OKX Ventures, and Symbolic Capital.

#BTC #Babylon #TrendingTopic #PolygonEvolution #PolychainCapital

#Binance #Labs Invests in #Babylon to Support the Advancement of $BTC #Staking

Go to the news

Babylon is launching phase 2 of their Bitcoin staking testnet, Testnet-4, on June 5th.

This testnet is open to various participants in the crypto space, including Bitcoin holders, validators, and wallet providers. This builds on their earlier announcement about the initial launch of Testnet-4.

#Babylon #BabylonBitcoin #Megadrop #StartInvestingInCrypto $BTC #btc70k

Babylon, a Bitcoin staking protocol under development since 2022, has launched its testnet to the public.

#Babylon #bitcoin #btc #TrendingTopic

Yala, the Bitcoin's modular layer, is partnering with Babylon, a native staking and timestamping protocol, to enhance its security features and create a robust ecosystem.

#Yala #HotTrends #Babylon #BTC #bitcoin

Validators’ protection with anti-slasher

Babylon have partnership with Cubist to make Bitcoin staking — and restaking! — safe by design by fusing finality gadget with anti-slasher.

What does this means?

To protect honest validators, the Cubist key manager, CubeSigner, already tackles the unintentional-slashing and security challenges honest Ethereum validators face when managing keys (e.g., ensuring deposits and unstaking are secure). At a high-level, CubeSigner does this by using secure hardware to safeguard keys even during signing and by using a policy engine to enforce, for example, anti-slashing policies on all validator keys. The key manager with the built-in anti-slasher — which operators cannot disable — ensures that an attacker who compromises a validator machine can neither exfiltrate keys nor slash the validator. In the same way, it also prevents slashing due to validator client bugs or operational mistakes like running multiple validator clients with the same keys.

Cubist is collaborating with Babylon to bring these same strong security guarantees to the Babylon ecosystem.

As with Ethereum staking, adding first-class support for Bitcoin staking on Babylon to the CubeSigner key management platform. This means secure deposits, unstaking/unbonding, and block signing using Babylon’s extractable one-time signatures. It also means built-in anti-slashing: the key manager will, by design, refuse to sign two different messages for the same block height. Operators will be able to validate securely and without fear of slashing from the very start, since we’re collaborating with Babylon to integrate CubeSigner as a first-class, simple alternative to local keystores.

Finally, Cubist is collaborating on the design of the Babylon finality gadget with anti-slashing in mind from the start. The  goal is to make anti-slashing simple. Simple means easy to get right, easy for CubeSigner to support, and easy for other (e.g., local) key managers to support, too. Read more here https://www.babylonchain.io/
#BTC #validator #Babylon

Lorenzo Protocol and BabylonChain merge to unlock bitcoin's full potential, transforming ecosystem interactions, security, and innovation, crucial for BTC shared security and liquid staking efforts.

#lorenzoprotocol #Babylon #btc #bitcoin

Binance Labs backs Babylon's groundbreaking Bitcoin staking protocol. 🔥✅

Binance Labs, the venture capital arm of Binance, has recently thrown its weight behind Babylon, a 2022-founded blockchain project causing ripples in the industry. At the core of Babylon's innovation is a groundbreaking Bitcoin Staking Protocol, offering Bitcoin holders a secure avenue to earn yields from Proof-of-Stake (PoS) chains.

🔸Bitcoin Staking Protocol:

Babylon's protocol allows users to stake bitcoins for PoS blockchains, eliminating the need for third-party custody or wrapping services.

This introduces slashable economic security guarantees to PoS chains while enhancing liquidity for Bitcoin holders.

🔸Reducing Inflationary Pressure:

Babylon addresses challenges faced by PoS chains with native assets' volatility by allowing them to acquire staking capital from Bitcoin.

This move reduces inflationary pressure on native tokens, offering a new dynamic to the PoS ecosystem.

🔸Unlocking Utility for Bitcoin:

Babylon's protocol gives Bitcoin, traditionally viewed as a store of value, a new purpose by enabling secure and decentralized yield generation.

This marks a significant use case integration for Bitcoin in the evolving Proof-of-Stake economy.

🔸Babylon Chain and Cosmos SDK:

Utilizing the Cosmos SDK, Babylon chain provides Bitcoin timestamping services to PoS chains.

It acts as a crucial control plane synchronizing between the Bitcoin network and PoS chains.

🔸Leadership and Foundation:

Babylon is led by consensus protocol researchers from Stanford and seasoned Layer-1 engineers.

Founded by Stanford Professor David Tse and Dr. Fisher Yu, Babylon aims to scale Bitcoin for the decentralized economy.

🔸About Babylon:

Founded in 2022, Babylon is on a mission to scale Bitcoin for the decentralized economy through innovative security-sharing protocols. Its suite includes Bitcoin Staking, Timestamping, and Data Availability.

#Babylon #BinanceLabs #Cosmos #CosmosSDK

Bitcoin staking protocol Babylon has raised $18 million in a Series A funding round co-led by Polychain Capital and Hack VC.

#bitcoin #Babylon #BTC

MAJOR RECENT CRYPTO FUNDRAISING EVENTS

#Wormhole #Babylon #QANplatform $QANX #izumo #ipeakoin #klever $KLV #matr1x $MAX #shadow

Another Innovation other than ETF to drive Bitcoin Value

Spot Bitcoin ETFs might enhance the liquidity of the bitcoin market by providing more buyers and sellers. More liquidity can lead to more stable prices and less volatility, making bitcoin more attractive to ordinary investors. Now what about the actual use of the circulating supply of Bitcoin to earn rewards.

We all know that at present the $600 billion crypto asset stored as Bitcoin are just been lock up in the wallet without actual use just like an asset.

There are hundreds of billions of dollars’ worth of Bitcoin that are largely idle today: Bitcoin holders don’t earn yield by holding the asset and, in contrast to proof-of-stake (PoS) chains like Ethereum, holding this capital isn’t necessary for the security of the protocol — Bitcoin is a proof-of-work chain.

As just announced at Cosmoverse, Babylon is putting this lazy Bitcoin to work!

Specifically, Babylon is making it possible for Bitcoin holders to stake their capital across different PoS chains.

This has a huge upside for holders: they can earn yield by staking their (otherwise idle) Bitcoin. And it has huge upsides for PoS chains. First, Bitcoin can provide the capital they need to secure the chain and support high TVL.

Second, because Bitcoin does not have yield, the inflation pressure (to pay staking rewards and thus) to acquire such capital is likely lower than acquiring the native token as stake.

Finally, because Bitcoin’s price is relatively stable, the cryptoeconomic security of PoS chains adopting Bitcoin staking (even during black swan events) will similarly be stable.

Read more here: https://www.babylonchain.io/

#BTC #etf #Babylon #Staking