Author: Yumi Kong
The mainnet of Babylon, the leading Bitcoin staking project, is finally going online!
The narrative of Bitcoin asset gain has been around for a long time, but this story of releasing $1.5 trillion in capital has been confined to the implementation of the Bitcoin interest-bearing agreement. With the official launch of the first phase of the leading project Babylon's Bitcoin staking mainnet on August 22, Bitcoin will officially enter a new stage.
It is understood that the Babylon Bitcoin staking mainnet has three phases and is currently in the first phase of Bitcoin locking, which mainly supports users to lock BTC in a secure self-custody script by initiating transactions. To put it more directly, everyone can now lock their BTC to Babylon and receive corresponding staking rewards.
The official announcement mentioned that the initial pledge amount in the first phase is capped at 1,000 BTC, the minimum pledge amount for each transaction is 0.005 BTC, and the maximum pledge amount is 0.05 BTC. If a third-party service provider charges a 5% fee, for example, users who deposit 0.05 BTC can earn approximately 593.75 points per month (see the officialintroduction for the specific calculation method).
For ordinary users, it is definitely profitable to actively participate in the popular project Babylon staking to obtain point rewards, but this also involves gas costs and the probability of success.
Of course, there are corresponding solutions to these problems. Long before Babylon officially announced the launch of the mainnet, many LRT projects or platforms in the industry, including Lombard, Bedrock, Lorenzo, Chakra and pSTAKE, have successively announced various staking activities. In order to attract users to participate, these platforms have more or less reduced or directly exempted Gas. As long as users stake BTC through their own portals, in addition to the rewards provided by Babylon, they will also receive corresponding tokens or points rewards, achieving the goal of killing two birds with one stone.
Bitcoin staking: How to kill two birds with one stone?
The author will use Bedrock as an example to introduce to you how to achieve multiple benefits from BTC staking.
Bedrock is a multi-chain liquidity re-staking protocol built on Babylon and Eigenlayer. In May this year, it received investments from institutions such as OKX Venture and LongHash, and also received support from Babylon co-founder Fisher Yu.
On August 20, Bedrock announced that the 400 BTC deposit quota for its first phase Cap 1+ was full, and plans to open the second phase of deposits to users soon. According to the official website, Bedrock supports users to stake BTC on multiple chains such as OP, Ethereum, Mantle, B², Bitlayer and Merlin to the platform. In addition to obtaining Babylon's staking rewards, users can also obtain additional OP tokens or up to 42x Diamond reward bonuses, achieving multiple benefits.
In addition to Bedrock, I have also compiled other LRT projects that offer more benefits for your reference:
Solv Protocol: Users can earn 20% more Solv XPs in addition to Babylon rewards;
Chakra: In addition to Babylon staking rewards, users can also get 20% more Chakra Pranas gains and share future Chakra token rewards worth $50,000;
pSTAKE: In addition to receiving Babylon staking rewards, users can also participate in sharing 100,000 $pStake tokens;
Lombard: There is no deposit limit for whitelisted addresses, and users can obtain Babylon staking benefits. No other benefits are explained yet;
Lorenzo: In addition to the Babylon staking rewards, users can also receive $1.5 million worth of YAT rewards and an annualized 32% reward;
Kinza Finance: In addition to Babylon staking rewards, users can also receive future Kinza token airdrops;
PumpBTC: In addition to the Babylon staking rewards, users will also have the opportunity to share $MNT rewards worth $30,000.
Based on the above information, you can compare and select the method with the highest potential return, and try to deposit BTC to enjoy the first wave of dividends from Bitcoin staking gains. In addition, Bitcoin L2 projects including Bitlayer and B² have plans or have launched corresponding incentives and activities, hoping to encourage users to actively participate in Babylon deposit staking in the corresponding ecosystem by providing rich points or token rewards, and ultimately help users gain benefits.
Inventory of high-quality airdrops in the BTC ecosystem
As a starter project that shares Bitcoin security with other PoS projects, Babylon is definitely worth everyone's participation. However, the deposit limit for the first phase of Babylon is only 1,000 BTC. Under the huge market demand, there will inevitably be a lot of liquidity that cannot be met, but the Bitcoin ecosystem is a huge treasury, and other potential high-quality airdrops can also participate.
Recently, the crypto investment research community Biteye compiled and released a list of potential BTC ecosystem release projects, some of which are worth our attention and in-depth exploration. According to comprehensive judgment based on indicators such as KOL attention and total financing, in addition to Babylon, projects such as Bitlayer, BOB, B² and Nubit are all worth paying attention to and focusing on.
Taking Bitlayer as an example, the team has already announced the design of airdrop-related mechanisms such as gems and points, and has clearly given generous $BTR rewards in the Fair Launchpool activities of OKX Cryptopedia and Bitget Wallet. Therefore, it can be confirmed that the project has a clear token incentive plan for early users.
Therefore, if you want to get Bitlayer's future airdrops, you can accumulate Bitlayer points by actively participating in various market activities launched by Bitlayer, as well as on-chain interactions, and even directly get $BTR airdrops by actively participating in activities. Among them, the most rewarding activity is Bitlayer's 20th activity on OKX Cryptopedia, which provides users with $BTR rewards worth $1.25 million and up to 100 million points rewards.
The specific activity participation tutorial is as follows: everyone needs to log in to the OKX Cryptopedia activity page and complete the tasks set by 6 ecological projects including Bitlayer, GamerBoom, Macaron, Anome, Vanilla Finance, Avalon Finance and Zearn, including simple operations such as following social channels, cross-chain transactions, and deposits.
It is estimated that the on-chain interaction loss of completing these tasks is only about 5 US dollars. According to the data shown in OKX Cryptopedia, as of August 20, this activity has attracted 434.8K participants, but most users only participated in the simplest social media task, and the corresponding reward for completing the task is $50,000 worth of $BTR. In contrast, the task rewards of the other 7 projects are at least worth 150,000 US dollars, and even as high as 250,000 US dollars, and the number of participants in these tasks is at least 37K, and the maximum is no more than 208K.
Because most of the Bitlayer ecosystem projects are still in the early stages, if you complete Bitlayer's tasks in OKX Wallet, you will have the opportunity to receive exclusive event rewards, accumulate Bitlayer points, and even have a high probability of receiving future token airdrops from these ecosystem projects, thus achieving the goal of killing two birds with one stone.
Of course, according to Biteye’s statistics, other Bitcoin Layer 2 projects such as BOB, B², Botanix, Mezo and Nubit are generally worth participating in. We will provide interactive transactions of these projects in subsequent content to obtain more potential airdrop rewards.
