Skipped lunch again digging through the @BabylonLabs_io Babylon explorer.
56,853 BTC locked. That’s $5.64B sitting there.
Then I looked at the BABY side. Only about 25% of the nearly 10.9B minted supply is actually bonded. Rest is just sitting idle.
They built co-staking so you pair 20,000 $BABY with 1 BTC and get the boosted rewards. In practice most of that BTC never bothers. It just takes the base yield on default lock.
BTC holders showed up for the yield. The token side is still catching up.
Makes you look at big TVL numbers differently. Size on one side doesn’t automatically mean the other side is locked in too.
Wonder how long this gap stays open.
#baby
56,853 BTC locked. That’s $5.64B sitting there.
Then I looked at the BABY side. Only about 25% of the nearly 10.9B minted supply is actually bonded. Rest is just sitting idle.
They built co-staking so you pair 20,000 $BABY with 1 BTC and get the boosted rewards. In practice most of that BTC never bothers. It just takes the base yield on default lock.
BTC holders showed up for the yield. The token side is still catching up.
Makes you look at big TVL numbers differently. Size on one side doesn’t automatically mean the other side is locked in too.
Wonder how long this gap stays open.
#baby