• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Babylon successfully attracted $18 million in investments

Babylon successfully attracted $18 million in investments

user avatar

by Max Nevskyi

2 years ago


Babylon's Bitcoin staking protocol successfully completed its Series A funding round, attracting an impressive $18 million, as reported by the analytical platform CryptoRank. Polychain Capital, leading the investor group, played a pivotal role in this successful funding stage. Additionally, prominent financial players such as Hack VC, Framework Ventures, Polygon Ventures, Castle Island Ventures, OKX Ventures, and Symbolic Capital joined the investment round.

The fundraising initiative, initiated in July 2023 and concluded on December 7, 2023, marked a significant milestone for Babylon. This innovative Bitcoin staking protocol allows users to stake assets on Proof-of-Stake blockchains, generating a stable income. The Babylon team is actively integrating the protocol into the Cosmos Hub and Polygon ecosystems to enhance the security of emerging blockchains.

Sandeep Nailwal, co-founder of Polygon, emphasized the importance of integrating Babylon into the Polygon CDK network. This integration will not only bolster network security but also help reduce the inflationary pressure often associated with traditional staking methods.

Babylon's representatives have ambitious plans to launch their protocol around the time of the next Bitcoin halving, expected in April 2024. This move promises to bring significant changes to the cryptocurrency staking landscape and increase interest in this innovative project.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Static Replication: A Game Changer for Exotic Derivatives

chest

Static replication is emerging as a game changer for institutional desks managing high-gamma exotic derivatives. By offering a cost-effective alternative to dynamic hedging, static replication reduces transaction costs and model risk, enhancing operational flexibility and cost control in the management of these complex financial instruments.

user avatarMohamed Farouk

Lookback Options Provide Optimal Timing Flexibility

chest

Lookback options provide sophisticated investors with optimal timing flexibility by allowing them to secure the best price outcomes, eliminating timing risks in volatile markets.

user avatarElias Mukuru

LDO Price Shows Signs of Potential Recovery

chest

The LDO price is attempting to break out of a long-term downtrend, with traders watching key levels for signs of a trend shift. If successful, it could lead to a significant upward movement in price; however, failure to hold could result in a return to previous lows.

user avatarLuis Flores

Lido DAO Allocates $250k for Protocol Upgrades

chest

Lido DAO has finalized a budget allocation of $250,000 to support protocol upgrades and update vesting terms for the Lido Labs Foundation.

user avatarMaria Gutierrez

XRP Supporters Rally to Defend Ripple's Reputation

chest

XRP supporters rally to defend Ripple's reputation against claims of opacity, emphasizing transparency and performance.

user avatarTenzin Dorje

XNO and APR Experience Modest Gains

chest

XNO and APR have shown modest price increases amid overall market momentum.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.