According to Foresight News, multi-chain yield protocol Magpie has initiated a community proposal to launch a new SubDAO Babypie, which will be used for Bitcoin collateralization. Babypie will focus on utilizing Bitcoin for Proof of Stake (PoS) collateralization through the Babylon chain.
Magpie will receive 20% of the Babypie tokens (BBP), which will be released and locked in the Magpie treasury over a two-year period. The proposal voting will end at 10:00 AM on June 28, with current supporters accounting for 99.75%.
