Babylon Chain addresses the security challenges faced by new Proof-of-Stake (PoS) chains by leveraging the robust Bitcoin network. New PoS chains often struggle with a limited validator network and low staking asset value, making them vulnerable to malicious actors. Babylon Chain incentivizes Bitcoin holders to stake their BTC in return for native tokens of the chains they secure, all while ensuring the Bitcoin remains on its original blockchain for optimal security.
Utilizing a self-custody vault system, Babylon ensures that only the owner can unlock their BTC, with a slashing mechanism in place for malicious behavior. Acting as a control plane, Babylon connects staked BTC to beneficiary chains and takes a commission on rewards. Built with Cosmos SDK, it is compatible with IBC-compliant chains and aims to support all PoS chains in the future.
Having raised over $28 million in under a year, with significant but undisclosed contributions from Binance, Babylon is poised for rapid integration, potentially with the BNB Chain. To participate in potential airdrops, users can stake Cosmos ecosystem tokens, engage in Babylon’s testnets, or run a node, making them eligible for exclusive rewards and community benefits.
