According to TechFlow, the multi-chain yield protocol Magpie has initiated a community proposal to launch a new SubDAO Babypie for Bitcoin staking.

It is reported that Babypie will focus on using Bitcoin for Proof of Stake (PoS) staking through the Babylon chain. Magpie will receive 20% of Babypie's BBP tokens and lock them in the treasury. This will increase the vlMGP SubDAO rewards and increase the value of the MGP token.

The proposal vote will end at 10:00 am on June 28, and currently 99.75% of supporters are in favor.