Brothers, today I’m going to talk to you about the 14th Binance HODLer Airdrop project - Babylon ($BABY)!
We all know that Bitcoin is the "digital gold" in the crypto world, and its position is very stable. However, its architecture is relatively conservative, it does not support smart contracts, and it cannot natively expand, which makes the trillion-dollar BTC seem to be "sealed" and can only lie in the wallet and "sleep", waiting for appreciation, but unable to participate in various on-chain ecosystems. What a waste!
However, the emergence of Babylon seems to have found a new way out for Bitcoin.
Simply put, it allows Bitcoin to "work" and make money, while also ensuring the security of other blockchain networks.
Babylon is a Layer-1 blockchain network built on the Bitcoin security model, dedicated to building a cross-chain shared security architecture. It will not change the nature of Bitcoin, but it will allow BTC to participate in the PoS ecosystem without transfer or custody. As long as we keep our BTC private keys safe and provide security to other blockchain networks through Babylon's remote staking mechanism, we can get $BABY rewards, which is simply "making money without doing anything"!
1. Babylon's technical highlights
1. Remote staking, safe and worry-free:
In the past, BTC had to rely on bridging or centralized platforms for hosting when participating in other projects. This was very unsafe because we were afraid that a third party would do something bad. But Babylon is different. It uses encrypted signatures and off-chain protocols. You don’t need to transfer BTC. You can complete the pledge by signing your name. We always have the private key, which is safe and reliable. The whole process can also be verified and traced.
2. It can reduce security and establish economic ties:
Babylon introduced the "Slashable Security" mechanism. If the validator node associated with the BTC pledge behaves maliciously, the staker's assets will be slashed. In this way, BTC and the PoS network have an economic connection, and BTC can truly serve as a "security backup" for the PoS network.
3. Timestamp protocol to improve trust:
It also has a Bitcoin Timestamping mechanism, which can anchor key data from other chains to the Bitcoin blockchain, just like writing things from other chains into Bitcoin's "diary", making these data more credible, reducing security costs, and enhancing network trust. Moreover, this mechanism can be used in cross-chain communication, audit proof, etc., and has super scalability.
2. Strong background and impressive data
The Babylon team is amazing. It was led by David Tse, a professor at Stanford University. After its establishment in 2023, it received investments from top institutions such as Paradigm, Polychain Capital, and Binance Labs, with a financing amount of more than 96 million US dollars, which is a super luxurious configuration in the Bitcoin ecosystem.
$BABY was launched on Binance on April 10, and its first-day increase reached 40%. According to DefiLlama data, Babylon has attracted more than 51,000 BTC (about $4.3 billion) to participate in staking, and its TVL ranks second in the Bitcoin ecosystem, second only to EigenLayer, which is enough to prove its attractiveness and the market's recognition of its staking mechanism.
3. Reasonable Token Mechanism and Incentive Design
Babylon's token mechanism is also very sophisticated. The total number of creation tokens is 10 billion, the maximum supply is unlimited, and the inflation rate in the first year is 8%. Of this 8%, 4% goes to BTC pledgers and 4% to BABY pledgers, so everyone can make money.
At present, the circulation is more than 2.3 billion, and 75 million tokens have been airdropped through the Binance HODLer event, accounting for 0.75% of the total circulation. In addition, the tokens of the team and VC will not be unlocked in the first year, so as to avoid too much selling pressure in the initial market. It can be seen that the project party really wants to develop in the long term and is very friendly to us retail investors.
4. There are many benefits to participating in activities
For retail investors like us who hold BTC for a long time, this is a low-threshold, low-risk, high-potential money-making opportunity. In the past, BTC could only be left waiting for price increases, but now we can participate in DeFi through Babylon and actively earn income.
For the entire blockchain industry, Babylon has the potential to reshape the role of BTC, transforming it from a simple "hard currency" into a "decentralized security infrastructure." This may bring about a major change in BTCFi, the cross-chain ecosystem, and the future L2 network security model.
Let’s talk about the Binance HODLer event again. It is a benefit that Binance provides specifically for BNB holding users.
As long as we hold BNB, we can get the project token airdrop in proportion without doing any other operations.
This time, Babylon, as the 14th project, will airdrop 75 million $BABY to BNB users. It would be a waste not to take advantage of this opportunity!
And judging from the market performance, $BABY has seen a good growth since its launch, and it has been able to rise for three consecutive days despite a bad market environment. If calculated based on its previous financing valuation, the price still has a lot of room to rise.
Brothers, don’t hesitate when you have such a great opportunity! Hurry up and learn about the Binance HODLer event, hold BNB and participate in the airdrop, you may be the next one to make money!
If you want to know more about the benefits of BNB HODLer, you can check out: binance.com/zh-CN/bnb.
If you haven’t registered on Binance yet, just use this link: t.co/Y2zMdDPHac , and you can participate after registering. Maybe this registration will be the beginning of good luck!