Babylon Labs presents its new network, Babylon Chain, home to 50,000 Bitcoin (BTC) in non-custodial staking, offering users the opportunity to earn on various projects.
About the Launch of Babylon Chain
Babylon Labs has launched its own Babylon Chain secured by 50,000 Bitcoin (BTC). This project will allow users to lock BTC in non-custodial staking, securing multiple projects simultaneously. Stakers can unfreeze their BTC within seven days, a significantly shorter period compared to other protocols.
Expansion of DeFi Protocols
With the launch of Babylon Chain, also known as Babylon Genesis, the project adds a new layer to Bitcoin DeFi. More than 51,167 BTC has been locked in the network, comparable to large reserves. BTC remains locked and is not sold on the market, while its value can be used in various applications and protocols. The project completed its first phase in December 2024, testing the success of several BTC locking events.
Tokenomics of BABY
Recently, Babylon Labs announced the conditions for its native token BABY, which will be used alongside BTC as a security tool for the network. The BABY token will be used for transactions, voting, and accrued for stakers for holding their stake longer. Meanwhile, the BABY token is currently under strong market pressure, having lost over 22% in the last trading day.
The launch of Babylon Chain by Babylon Labs signifies an important event in the Bitcoin DeFi space, offering new infrastructure and staking opportunities for users. The BABY token, despite current issues, has the potential to strengthen the ecosystem and attract new participants.
