🔥Babylon Airdrop Registration and Babylon Genesis Launch
Today, the Babylon Foundation @bbn_foundation announced the airdrop registration for @babylonlabs_io, which will take place from February 25 at 4 PM to March 15 at 4 PM. Participants are reminded to create a BABY address and link it to a Bitcoin wallet or other eligible activities for staking in order to receive the airdrop upon the launch of Babylon Genesis.
Babylon Genesis is the first Bitcoin Secure Network (BSN) and will serve as the control plane for the security and liquidity orchestration of future BSNs.
Before the launch of Bitcoin ETFs, the financial world could be divided into traditional mainstream finance and the emerging decentralized finance led by Bitcoin. With the listing of ETFs, Bitcoin is leading cryptocurrency technology into traditional mainstream finance, bringing unprecedented possibilities for emerging decentralized finance.
Decentralized finance is divided into two worlds: Bitcoin and altcoins. In the past, most crypto innovations occurred in the altcoin world, where most Bitcoin simply served as a store of value, remaining dormant in its own realm, with only a few acting as wrapped assets, becoming subsets of the altcoin world. The altcoin world is fragmented, with multiple chains and coins creating liquidity fragmentation, limiting development due to safety, user base, liquidity, and adoption rates. In this bull market, Bitcoin's price performance stands out alone, with traditional mainstream financial funds only recognizing Bitcoin. As of today, the benefits that Bitcoin has gained from traditional finance still struggle to reach the altcoin world.
Babylon, as an important innovation in this round of the Bitcoin ecosystem, is expected to break this awkward situation. The staking phase of Babylon attracted over 55,000 Bitcoins in total, with one address staking 10,000 Bitcoins. These participants include both retail investors and institutional stakers (including traditional financial institutions). Babylon is expected to strongly bind altcoins with Bitcoin, leading traditional mainstream finance into the altcoin world.
Many people mistakenly believe that Babylon is a heavy staking protocol. In fact, it is an L1 built on the Cosmos-SDK, protecting other L1s (Sui), L2s (Corn, Bob, Manta), and data availability layers, etc. Babylon enables Bitcoin to achieve permissionless and self-custodied native staking, which is a prerequisite for re-staking and multiple staking of Bitcoin. Babylon supports lending and trading of Bitcoin, allowing existing decentralized finance functions in the altcoin world to develop within the Bitcoin ecosystem. Babylon allows PoS chains to leverage Bitcoin's security, reducing the cost of token inflation. As a unique blockchain, Babylon links the previously fragmented worlds of Bitcoin and altcoins, and has become one of the most important infrastructure projects in decentralized finance.
Recently, the meme coin chaos has been rampant, leaving investors and industry practitioners lost in direction. Babylon has previously gained support from top investment institutions such as Paradigm, Polychain, HackVC, IDG, and YZi Labs. We look forward to Babylon's performance after launch, which can lead to the revitalization of the Bitcoin ecosystem and the arrival of altcoin season.