The first phase of the Bitcoin staking platform, developed by Babylon Labs, was successfully launched on August 22.
As reported by the developers at Babylon Labs, Bitcoin holders now have at their disposal a native staking protocol with which they can delegate their digital assets to generate yield.
Babylon, the new Bitcoin staking platform, went live on the mainnet on August 22, as outlined in the project roadmap. The launch of this platform marks a significant milestone for the market-leading cryptocurrency and blockchain, which promises to transform the way investors interact with BTC.
Through Babylon, users can earn passive income through staking, using their cryptocurrencies to “provide cryptoeconomic security” to systems based on the Proof of Stake (PoS) consensus protocol reliably and without losing self-custody of their assets. .
Babylon Unlocks Third Native Bitcoin Use Case
The launch of Babylon takes place in a context where staking, a common practice in many blockchains, had been absent in the Bitcoin network. As mentioned, this new protocol allows BTC holders to lock their tokens on the network to receive rewards in exchange for it.
During the first phase, users could participate by locking a maximum of 0,05 BTC per transaction, with a total limit of 1.000 BTC, which is equivalent to more than $57 million, according to the Actual Price of cryptocurrency. The developers at Babylon Labs explained that this approach seeks to avoid the concentration of power in the hands of a few large investors and encourage more equitable participation of the crypto community.
With the launch of this protocol, the developers are unlocking the third native use case for Bitcoin, expanding the cryptocurrency's utility in the digital world.
More than 12.000 stakers on the first day
The initial launch has been a resounding success. As revealed by the developers at This milestone was achieved in just 12.720 blocks of the network, which were mined in 1.000 minutes, highlighted Babylon Labs.
The massive entry of stakers into the protocol has generated additional revenue of approximately $3,2 million for Bitcoin miners and caused a significant increase in transaction fees on the first day of launch. According to experts, this increase in network activity is a clear indication of the interest that the Babylon staking platform has generated.
In a previous article, it was reported that the developers of Babylon, backed by investments from big names like Paradigm, have designed this platform with the aim of adding a layer of utility to the Bitcoin network and opening new opportunities for investors looking to diversify their sources of income. .
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