According to PANews, Babylon's first phase of BTC staking, which opened last night, saw its 1000 BTC limit reached in less than six blocks. A total of 20,610 staking transactions were conducted, involving 12,720 addresses. Following the staking launch, miner fees surged to $200, with an average of $130, imposing significant cost pressures on individual stakers.

Among the various BTC LST protocols, Solv and Bedrock stood out, with Solv successfully staking 250 BTC and Bedrock staking 230 BTC. To ensure decentralization, Babylon set a staking cap of 250 BTC for each LST protocol. Consequently, even though SolvBTC.BBN's TVL reached 2500 BTC, only 250 BTC were successfully staked in the first phase.

Ai Yi also mentioned that the second phase of staking might lean towards using third-party protocols to alleviate the burden of miner fees.