Bitcoin's inherent limited supply has been a focus of discussions about its potential for significant capital gains, especially in scenarios where demand for it spikes. Now, Bitcoin holders have an additional opportunity to increase their returns through staking.

Babylon, a developer of security sharing protocols for decentralized applications, has unveiled its self-sustaining Bitcoin mining protocol. It allows Bitcoin holders to lock their BTC with a script for a predetermined period of time. In exchange, participants will receive a reward and voting rights in the corresponding Proof-of-Stake (PoS) protocol.

The Babylon protocol is currently in its initial phase, where participants can lock up their bitcoins but without receiving staking rewards or other incentives. Rewards will be introduced in later phases. Notably, Babylon has set a total staking limit of 1,000 bitcoins in its initial phase. Meanwhile, the price of bitcoin has remained relatively stable since reaching an all-time high of $73,794 earlier this year.


Cryptocurrency is also becoming increasingly relevant in the political arena. According to Axios, crypto-related organizations contributed about half of the $248 million to corporate funds aimed at influencing federal elections this cycle. For example, former President Donald Trump, a leading Republican contender, has already pledged to create a special Bitcoin reserve if he wins the upcoming November election.