The Kraken platform has announced its integration with the decentralized Babylon protocol (DeFi) to offer Bitcoin Staking services, allowing users to earn an annual yield of up to **1%** without giving up their holdings of BTC. The staked Bitcoin is used to secure the Babylon networks that rely on a Proof of Stake (PoS) mechanism, with rewards paid in BABY currency.
Kraken manages the entire process, ensuring ease of use and the security of funds, while also opening the door to potential rewards from other networks within the **Babylon** system. According to defillama.com, the total value locked (TVL) in the protocol is $4.956 billion, making it the largest central DeFi application for Bitcoin in terms of locked value.