Babylon is now live on mainnet!

Blockdaemon is proud to announce support for Babylon as a finality provider. Read below to learn how to stake BTC with Babylon through Blockdaemon.

Got questions? Contact us today to learn more about staking BTC with Babylon through Blockdaemon's finality provider. 

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Babylon Mainnet Launch

Babylon protocol’s launch is divided into three phases:

Bitcoin Locking (1)

The Phase 1 limit of 1,000 BTC staked has been reached (less than 24 hours after launch). The specified BTC deposits are now locked in a self-custodial staking script. These early-stage BTC stakers are now prepared to participate in future PoS consensus opportunities. 

Bitcoin Staking Activation-1

In this phase, a Babylon PoS chain is launched to secure the Bitcoin locked in Phase 1. The Babylon PoS chain will also implement a Bitcoin timestamping protocol, crucial for cross-chain time synchronization and the overall security of the staking process.

Bitcoin Multi-Staking Activation (1)
In the final phase, the Babylon Bitcoin staking protocol becomes a marketplace for shared security. Bitcoin holders can stake the same Bitcoin across multiple PoS systems simultaneously, enabling them to earn rewards from multiple chains. 

How to Stake to Babylon

The ability to stake BTC on Babylon has reached its limit for Phase 1 and the third cap of Babylon Bitcoin staking mainnet Phase-1 scheduled to open December 10th, 2024 around 11AM UTC. You can still get ready to stake with Blockdaemon by following these steps once the cap is lifted.

  1. Navigate to https://btcstaking.babylonlabs.io/

  2. Connect your Bitcoin wallet (see supported wallets below). 

  3. Select Blockdaemon as a “finality provider” (use “control + f” to find Blockdaemon quickly)

  4. Enter the amount of BTC you want to stake (The minimum stake is 0.005 Bitcoin, and the maximum stake is 5,000 Bitcoin)

  5. Accept the terms and click on Preview.

 

Notes:

1. Duration-based

- Cap-3 will run for 1,000 BTC blocks (roughly one week)
- Stay tuned! The exact block heights will be announced 3 days ahead of the opening.

2. Pioneering innovation in point allocation

- First 300 BTC blocks: 100,000 points per block.
- Remaining 700 BTC blocks and beyond: 21,000 points per block.
- The points per BTC block will be allocated proportionally among all active stakes (from all caps) within that block.
- Points may not be available in your jurisdiction. For more information, please refer to our term of use https://babylonlabs.io/terms-of-use

3. Unbonding Transaction Fees

- Cap-3 stakes unbonding transaction fee will remain 0.00032 BTC.
- Any stakes that enter the Bitcoin chain after the closing of Cap-3 will be overflow and won’t be accepted.
- All overflow stakes should be unbonded and withdrawn.

Phase 2 is scheduled for the end of Q1 2025.

Supported Wallets

Binance Web3 Wallet

BitGet Wallet

imToken

Keystone

OKX Web3 Wallet

OneKey

Tomo

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Got Questions?

Contact us today to learn more about staking BTC with Babylon through Blockdaemon's finality provider.