Babylon, the rising star of Bitcoin staking protocols, has taken the DeFi world by storm, climbing into the top 10 protocols by Total Value Locked (TVL) ๐. Its third deposit window, which recently closed, brought in an astonishing $3.5 billion worth of Bitcoin in just one week ๐ฐ.
โก Cap3 Deposit Window Attracts Massive BTC Inflows
Babylonโs latest initiative, Cap3, allowed users to stake BTC for 1,000 Bitcoin blocks (December 10โ17). The results? A jaw-dropping 33,290 BTC ($3.5 billion) from over 112,000 users ๐ฅ. Among them was a whale staking a whopping 10,000 BTC ($1.04 billion ๐).
These inflows highlight Babylon's growing dominance. According to Kairos Research, Babylon deposits outpaced Bitcoin inflows into spot Bitcoin ETFs during the same period.
๐ฌ โWe are blown away by the continued enthusiasm and high participation in Babylon Bitcoin Staking Protocol from both retail and institutional players,โ said Fisher Yu, CTO of Babylon Labs. โWhen BTC inflow into Cap3 outweighed those into Bitcoin ETFs, itโs a clear vote of confidence in our vision and shows the demand for unlocking native Bitcoin use cases.โ
๐ Climbing the DeFi Rankings
Babylon now ranks as the ninth-largest DeFi protocol ๐, with a total of 57,290.4 BTC ($5.93 billion) staked. It sits just above Sky (formerly MakerDAO) and slightly behind Ethena ($6.03 billion).
๐ฅ Whatโs Next for Babylon?
Depositors are earning Babylon points ๐ฏ, which are expected to qualify them for an exciting future airdrop โ๏ธ, incentivizing even more participation.
Babylonโs mission is bold and game-changing: building a Bitcoin-powered security layer ๐ for Proof-of-Stake (PoS) systems. Their roadmap includes launching a Bitcoin-secured PoS chain ๐ ๏ธ and eventually creating a marketplace ๐ where third-party networks can leverage Bitcoinโs robust security.
๐ก Why This Matters
Babylonโs success highlights the growing demand for native Bitcoin use cases ๐ in DeFi. By merging Bitcoinโs unparalleled security with stakingโs flexibility, Babylon is shaping the future of decentralized finance.
This isnโt just stakingโitโs the future of Bitcoin-powered innovation ๐ in DeFi
