#baby $BABY @BabylonLabs_io
After writing about emission tapering and whether fee revenue can fill the gap it leaves, I went looking for the actual numbers instead of leaving the concern abstract. I wanted to find where Babylon publishes the emission curve and, ideally, some projection of usage-driven revenue against it.
I found the emission schedule without much trouble, tables with per-period issuance, decay rates, all laid out clearly.
What I couldn't find was the other half of the equation. Nothing crossing that emission curve against projected TBV borrowing volume or staking fee revenue, nothing modeling the point where one is supposed to hand off to the other. I checked governance posts, blog updates, even searched for any team commentary on the topic. Plenty of discussion about growth and adoption, none of it framed as "here's what usage needs to look like by the time emissions drop to X."
Technical point: publishing an emission schedule is a transparency baseline, almost every token does that much. What actually tells you whether a network survives its own subsidy phase is the second half, the revenue side meeting the emission side at a specific point in time. Its absence doesn't mean Babylon has no internal model for this, teams often work these numbers out privately before committing to public projections. But from where I'm sitting as someone trying to evaluate it, silence on that half reads the same whether the answer is reassuring or concerning.
Self-critique: I went in expecting to either confirm or dismiss my own concern with real numbers, and I came out with neither, just confirmation that the number isn't public yet. That's a different, weaker finding than what I set out to get, and I'd rather say that plainly than stretch the emission table into a conclusion it doesn't support.
$BABY holders are effectively underwriting that transition without being shown the model for it.
I'd want that crossover point published, even roughly, before treating current participation levels as anything more than emission-subsidized. #baby
After writing about emission tapering and whether fee revenue can fill the gap it leaves, I went looking for the actual numbers instead of leaving the concern abstract. I wanted to find where Babylon publishes the emission curve and, ideally, some projection of usage-driven revenue against it.
I found the emission schedule without much trouble, tables with per-period issuance, decay rates, all laid out clearly.
What I couldn't find was the other half of the equation. Nothing crossing that emission curve against projected TBV borrowing volume or staking fee revenue, nothing modeling the point where one is supposed to hand off to the other. I checked governance posts, blog updates, even searched for any team commentary on the topic. Plenty of discussion about growth and adoption, none of it framed as "here's what usage needs to look like by the time emissions drop to X."
Technical point: publishing an emission schedule is a transparency baseline, almost every token does that much. What actually tells you whether a network survives its own subsidy phase is the second half, the revenue side meeting the emission side at a specific point in time. Its absence doesn't mean Babylon has no internal model for this, teams often work these numbers out privately before committing to public projections. But from where I'm sitting as someone trying to evaluate it, silence on that half reads the same whether the answer is reassuring or concerning.
Self-critique: I went in expecting to either confirm or dismiss my own concern with real numbers, and I came out with neither, just confirmation that the number isn't public yet. That's a different, weaker finding than what I set out to get, and I'd rather say that plainly than stretch the emission table into a conclusion it doesn't support.
$BABY holders are effectively underwriting that transition without being shown the model for it.
I'd want that crossover point published, even roughly, before treating current participation levels as anything more than emission-subsidized. #baby