The world's first Layer 1 public chain protected by Bitcoin, Babylon Genesis, is officially launched today! 🎉 This is not only a significant leap in the practicality of Bitcoin but also an important milestone in the blockchain world. The launch of the Babylon Bitcoin staking protocol marks the establishment of Bitcoin's core position at the infrastructure layer, transforming idle Bitcoin into a fundamental pillar of the decentralized economy and unlocking its potential value.
The Babylon protocol innovatively addresses two core issues that have long existed in the decentralized ecosystem: the potential of idle Bitcoin assets and the demand for security, liquidity, and active users in the Web3 world. Through this groundbreaking Bitcoin staking protocol, Bitcoin holders can securely stake their assets to support other decentralized networks while earning returns, without giving up their self-custody of Bitcoin. This mechanism not only promotes deep integration in the decentralized world but also accelerates the entire ecosystem's progress toward mainstream applications.
Currently, over 57,000 BTC have participated in staking through the Babylon protocol, demonstrating the strong momentum of the Bitcoin ecosystem. Leading cryptocurrency custody institutions BitGo and Anchorage Digital have both announced support for BTC staking and the custody and staking services for Babylon Genesis's native token, BABY. Additionally, leading wallet providers such as Binance Wallet, OKX Wallet, UniSat, and Xverse will also support Bitcoin staking from day one.
The launch of Babylon Genesis marks the successful completion of the second phase of the three-phase launch plan and introduces Bitcoin's security features into a broader blockchain ecosystem. Babylon's Bitcoin integration solution, with its excellent interoperability and convenient integration characteristics, has successfully attracted numerous well-known networks to join the Bitcoin-protected network (BSN) ecosystem.
Babylon Genesis also supports a rich ecosystem of on-chain decentralized applications, such as the decentralized exchange Tower, specifically designed for the BTCFi ecosystem, and the Bitcoin re-staking infrastructure Satlayer. Babylon Labs envisions building a decentralized world secured by Bitcoin, combining Bitcoin's high security and wide adoption with the efficiency and scalability of proof-of-stake systems to enhance Bitcoin's practicality.
Friends, what do you think about the launch of Babylon Genesis? Feel free to share your thoughts and insights in the comments! 💬
