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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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News
Babylon Labs successfully secured the launch of its Babylon Chain with over 50,000 BTC locked in non-custodial staking, marking a significant step in their DeFi expansion.
The BABY token’s valuation has dropped by over 22% amid selling pressure, reflecting market challenges despite the successful project launch.
As Babylon Labs progresses into Stage 3, it plans to establish more BTC-backed networks, bolstering the DeFi ecosystem.
Starting April 15, 2025, Binance will introduce three new trading pairs: BABY/EUR, ONDO/TRY, and PAXG/USDC, enhancing its services with trading bots to improve user experience.
The OM token has faced a drastic 90% price drop, attributed to market liquidations. Binance has implemented risk controls since October 2024 to address volatility in the OM token.
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