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!