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Will Babylon Labs complete a third staking round by March 31, 2025?
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Official announcements from Babylon Labs or reputable cryptocurrency news sources.
Story
Babylon Labs Completes Second Staking Round, Locks Up 23,000 BTC Worth $1.4 Billion with Low Fees
Oct 8, 2024, 08:19 PM
Babylon Labs, a Bitcoin staking protocol, has successfully completed its second staking round, locking up 23,000 BTC worth approximately $1.4 billion. The new 'duration-based' staking model attracted significant interest, with a total of 22,891 BTC staked. Unlike the previous round in August, which saw fees spike to $132, this round maintained much lower network fees, peaking at just $2.37. The protocol briefly lifted its deposit cap, resulting in a surge of staking deposits. The total fees collected amounted to 1.56 BTC, with 12,570 stakers and 12,960 delegations participating in the round. The pending stake was 18.7K BTC, and the protocol aimed to stake 100% of its deposits, surpassing the initial cap of 1,000 BTC.
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