Babylon Bitcoin Staking Cap-2 Launch August 2024 event
Overview
Babylon launched phase 1 of its bitcoin staking protocol on mainnet on 22 August 2024, allowing bitcoin holders to lock BTC directly on the Bitcoin blockchain, self-custodially, to provide economic security to proof-of-stake systems. The initial phase applied a cap of 1,000 BTC, which was filled within a few hours, and rewarded participants with points rather than live token emissions; locking periods in phase 1 extended up to roughly 64,000 Bitcoin blocks. Babylon planned a multi-phase rollout, and the amount of BTC staked through the protocol grew to tens of thousands of coins over the following months.
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Frequently asked questions
When did Babylon's bitcoin staking mainnet launch?
Phase 1 went live on 22 August 2024.
Was there a cap on the first phase?
Yes — a 1,000 BTC cap, which was filled within a few hours of opening.
Do stakers give up custody of their bitcoin?
No — Babylon's design is self-custodial: BTC is locked on the Bitcoin blockchain itself rather than bridged or handed to an intermediary.
Sources
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