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Information about Babylon (BABY)
Babylon (BABY) is a project that enables self-custodial BTC staking directly on the Bitcoin Network to enhance the security of PoS blockchains. This innovative approach allows Bitcoin holders to stake their idle Bitcoins to increase security for PoS chains while earning yield in the process.
The project is developed by Babylon Labs, a company that has raised $96 million from leading venture capital firms such as Paradigm, Polychain Capital, and Binance Labs. Babylon goes beyond simply offering a staking protocol — it aims to build a comprehensive ecosystem where Bitcoin can be used to secure other networks, ranging from Layer-1 (L1) blockchains to decentralized applications (DeFi).
BABY is a native coin of the Babylon ecosystem, operating on Cosmos, and can be used to:
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