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Babylon's Launches Bitcoin Staking Protocol MVP at Cosmoverse 2023 🌌 Babylon - the Bitcoin Staking Protocol - announced their MVP at Cosmoverse 2023, transforming Bitcoin into a decentralized staking asset. Finally, there is a way to make $BTC a productive asset! 🌟 Unlocking Bitcoin's Dormant Potential Recent data by Glassnode showed that a whopping 66% of Bitcoin's supply (12.26 million $BTC) has stayed untouched for a year. Babylon plans to utilize these idle Bitcoins to fortify the security and vitality of Proof of Stake (PoS) chains and dApps across Cosmos. 🛡️ Bitcoin as the Security Backbone Babylon's Bitcoin Staking Protocol allows PoS chains to stake Bitcoin instead of their own tokens. It enhances security, eases inflation pressures, and empowers emerging chains. 🌕 Babylon's Moonshot Babylon aims to connect the $500 billion decentralized trust ecosystem to yield generation for providing security capital. With support from prominent Cosmos chains that are eager to adopt Babylon’s Bitcoin Staking Protocol, a strong frontier is forming around Babylon's PoS chain. 🌐 Cosmos Ecosystem Focus Babylon is built as a Cosmos app chain, housing over $2.5 billion staked in its top ten protocols, with more zones getting added, including large dapps such as @dYdX deploying their own app chain. We cannot wait to try out Babylon, making Bitcoin a PoS asset on a PoS chain!
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