TL;DR
- Babylon launched its Genesis mainnet, enabling BTC staking with self-custody on a PoS network backed by Bitcoin.
- Over 57,000 BTC have already been locked, while its BABY token offers combined rewards and has active futures on several exchanges.
- Binance, OKX, Bitgo, Anchorage, and Osmosis plan to integrate Babylon as a Bitcoin staking solution.
Babylon announced the launch of its Genesis mainnet, a new phase in its progressive rollout aimed at integrating Bitcoin staking mechanisms.
This new release marks the second stage of its technical implementation and represents a crucial step toward offering yield to those who lock BTC while also contributing security to other decentralized applications.
Babylon Already Staked Over 57,000 Bitcoins
The protocol has already accumulated over 57,000 BTC staked, with a value exceeding $4 billion. Unlike other platforms, Babylon allows users to retain custody of their assets while integrating them into a proof-of-stake model. Genesis introduces a layer-1 network whose validation is directly backed by Bitcoin, with the goal of extending its security to other projects that use it as a foundation.
In addition to direct BTC use, the system enables staking of the native BABY token. Rewards are split equally between BTC stakers and BABY token holders. This token has an initial supply of 10 billion units, of which 6% will go to early adopters. In parallel, exchanges like Bybit and Bithumb have already listed futures linked to BABY.
Exchanges Look to Leverage BTC Capabilities
Several platforms have announced plans to integrate Babylon as a BTC staking solution. These include custodians such as Bitgo and Anchorage, as well as non-custodial wallets from Binance and OKX. Also joining is Osmosis, a decentralized exchange built on Cosmos. These integrations will be key for Babylon to establish itself as a foundational infrastructure for users seeking yield without leaving the Bitcoin ecosystem.
The protocol operates through a network of 250 operators known as finality providers. These validate and approve transactions, playing a role similar to traditional validators in proof-of-stake networks. Babylon has secured over $96 million in funding across several rounds since 2023, including a $70 million contribution from Paradigm ahead of its testnet launch.
