Babylon mainnet is about to be launched, Bitcoin hodlers can finally get staking income
Project introduction:
Babylon is a layer1 blockchain founded by Professor David Tse of Stanford University. The mission of this project is to bring Bitcoin's unparalleled security to all PoS blockchains without any additional energy costs. Overall, it provides Bitcoin hodlers with income beyond the income of holding coins. In addition, it also brings liquidity to the entire market.
Its core services are
1. Trustless Bitcoin Staking Protocol: Allows users to stake Bitcoin on its platform without the need to trust intermediaries to obtain income.
2. Decentralized Finance (DeFi) Applications: Babylon is developing a series of decentralized financial applications that aim to improve the use scenarios and security of Bitcoin in a trustless way.
Babylon financing background
In January 2022, IDG Capital and Breyer Capital invested in it, with a financing amount of US$8 million
In December 2023, Polychain Capital and Hack VC led the investment, with a financing amount of US$18 million
In February 2024, BinanceLabs participated in the financing, and the specific amount was not disclosed
In May 2024, Paradigm led the investment, Bullish Capital and Polychain Capital participated, with a financing amount of US$70 million,
Currently, there is a banner in the Binanceweb3 wallet to participate in the babylon pre-staking. The start time is 16:00 on August 1, 2024, Beijing time.
For specific participation methods, please refer to the screenshots. After the pre-staking is opened at 4 o'clock, I will post a post with the specific annualized returns of chakra, bedrock, and pstake Finance. I hope everyone will pay attention to it and share information about on-chain projects and tokens from time to time.
