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) š. Its third deposit window, which recently closed, brought in an astonishing $3.5 billion worth of Bitcoin in just one week š°.
ā” Cap3 Deposit Window Attracts Massive BTC Inflows
Babylonās latest initiative, Cap3, allowed users to stake BTC for 1,000 Bitcoin blocks (December 10ā17). The results? A jaw-dropping 33,290 BTC ($3.5 billion) from over 112,000 users š„. Among them was a whale staking a whopping 10,000 BTC ($1.04 billion š).
These inflows highlight Babylon's growing dominance. According to Kairos Research, Babylon deposits outpaced Bitcoin inflows into spot Bitcoin ETFs during the same period.
š¬ āWe are blown away by the continued enthusiasm and high participation in Babylon Bitcoin Staking Protocol from both retail and institutional players,ā said Fisher Yu, CTO of Babylon Labs. āWhen BTC inflow into Cap3 outweighed those into Bitcoin ETFs, itās a clear vote of confidence in our vision and shows the demand for unlocking native Bitcoin use cases.ā
š Climbing the DeFi Rankings
Babylon now ranks as the ninth-largest DeFi protocol š, 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).
š„ Whatās Next for Babylon?
Depositors are earning Babylon points šÆ, which are expected to qualify them for an exciting future airdrop āļø, incentivizing even more participation.
Babylonās mission is bold and game-changing: building a Bitcoin-powered security layer š for Proof-of-Stake (PoS) systems. Their roadmap includes launching a Bitcoin-secured PoS chain š ļø and eventually creating a marketplace š where third-party networks can leverage Bitcoinās robust security.
š” Why This Matters
Babylonās success highlights the growing demand for native Bitcoin use cases š in DeFi. By merging Bitcoinās unparalleled security with stakingās flexibility, Babylon is shaping the future of decentralized finance.
This isnāt just stakingāitās the future of Bitcoin-powered innovation š in DeFi
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