【Babylon opens mainnet, operation details sorted out】

Official Twitter: @babylonlabs_io

Highlights: Babylon is a staking platform for the BTC ecosystem and has completed $96 million in financing.

Babylon launched the first phase of its mainnet on August 22. How to participate? Focus on:

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1. Total staking limit

The initial total staking limit is 1,000 BTC, and the limit will be relaxed as the stage progresses.

Staking will be based on a first-come, first-served basis

2. Staking transaction restrictions

Minimum staking: 0.005BTC

Maximum staking: 0.05BTC

3. Phase 1 launch

Babylon will launch Bitcoin staking in 3 phases, and Phase 1 will be launched tomorrow.

Phase 1 (locking Bitcoin): $BTC holders lock their Bitcoin in a secure, self-hosted Bitcoin staking script and choose a finality provider to delegate their voting rights.

4. Maximum staking period

Each staking has a maximum staking period of 64,000 blocks, about 15 months. Each staking will automatically expire and can be withdrawn after this period.

5. Unbinding rules

Stakers can unbind at any time and need to wait for 1,008 blocks (about 7 days) before they can withdraw.

6. Points reward rules

Phase 1 does not provide staking rewards, and the points system will track user contributions.

During the initial 1,000 BTC cap period, 3,125 Babylon points will be allocated for each BTC block.

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