Bitcoin
Babylon Holds 40,573 Bitcoin as Staking Protocol Pays Rewards in Protocol Token
Babylon has accumulated over 40,000 Bitcoin in its staking protocol, where delegators earn native BABY tokens rather than yields denominated in Bitcoin.
Babylon's Bitcoin staking protocol currently holds 40,573 Bitcoin, valued at roughly $3.34 billion based on DefiLlama data, compared to $7.14 billion recorded a year earlier. During the same period, Bitcoin traded at $81,394 (or €72,636), marking a drop of roughly two percent over the preceding 24 hours.
The protocol's mechanism does not distribute yield in Bitcoin, as the underlying Bitcoin network creates new coins solely through mining and lacks built-in staking rewards. Instead, participants lock Bitcoin as collateral to help secure an external proof-of-stake network known as Babylon Genesis, which distributes rewards in its native token, BABY.
Technically, Babylon implements a time-lock mechanism directly on the Bitcoin blockchain. Bitcoin balances are committed to scripts that can only be unlocked after a predetermined duration or through user-signed transactions, operating directly from user wallets without requiring asset bridging or wrapped tokens.
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