đ¨BABYLON TVL SKYROCKETS BY $3.5 BILLION IN ONE WEEK â IS THIS BITCOIN'S NEXT BIG MOVE? đ¨
Babylon, a Bitcoin staking protocol, has achieved a stunning milestone, breaking into the top 10 DeFi protocols by Total Value Locked (TVL) after completing its third deposit round, Cap-3. With over 33,290 BTC ($3.5 billion) staked in just seven days, Babylon has cemented its position as a key player in the decentralized finance landscape.
đ Key Highlights:
Cap-3 Success: From Dec. 10 to Dec. 17, Babylonâs Cap-3 initiative attracted 33,290 BTC from more than 112,000 participants, including a jaw-dropping 10,000 BTC ($1.04 billion) stake from a single depositor.Massive Inflows: Babylonâs deposits outpaced Bitcoin ETF inflows during the same period (Dec. 10-12), signaling growing trust in its staking protocol.Current TVL Ranking:Total Staked: 57,290.4 BTC ($5.93 billion)DeFi Rank: 9th largest protocol, surpassing Sky (formerly MakerDAO) and closely trailing Ethena.
đĄ What Makes Babylon Special?
Babylonâs innovation lies in unlocking native use cases for Bitcoin, using it as a security layer for Proof of Stake (PoS) systems. This approach offers:
High Participation Rates: Enthusiasm from retail and institutional investors highlights a shift in how Bitcoin is leveraged within DeFi.Future Airdrops: Depositors earn Babylon Points, rumored to be the basis for an upcoming airdrop, adding to the protocolâs appeal.
đŽ The Road Ahead:
Babylonâs ambitious roadmap includes:
Bitcoin-Secured PoS Chain: Building a dedicated PoS chain secured by Bitcoin.Security Marketplace: Creating a platform for third-party networks to leverage Bitcoin's security for PoS systems.
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