$BABY dipped to $0.0103 this morning, lowest I'have seen it, and honestly didn't even flinch, RSI's been sliding toward 19 all week so the number wasn't the surprise. What got me was watching everyone post the same "237M unlock" figure like it's the only stat that matters today. Went and pulled the actual vesting doc because it felt inflated, and yeah, it is, real number's closer to 136M, about 1.2% of supply. Someone rounded up for effect once and it just kept getting copy pasted after that.
But that's not even the part worth sitting with. Back in May Babylon quietly switched the investor unlock from one big cliff into thirty six monthly slices, so Tuesday isn't "the unlock," it's the first of thirty five more, running all the way to April 2029. Everyone's bracing for one gut punch when it's actually just going to keep dripping for three years no matter where price sits. Feels like the wrong thing to be scared of, or at least scared of on the wrong timeline.
What I actually think about more, low key, is the burn auction. BSN rewards get bid on in BABY and whatever wins gets burned, gone. Caught one settling a few weeks back while half paying attention to something else and it stuck with me, because it's the one piece of this token where using the network actually costs supply instead of adding to it. Not close to offsetting 8% annual issuance, not even in the neighborhood, but it's real, it happens because something got used.
And the base thing still holds, the reason I paid attention to this in the first place. BTC staked through it never gets wrapped, never touches a bridge, no synthetic stand in pretending to be the real asset. That hasn't moved an inch since before the price did whatever it's doing now.
Chart doesn't know the difference between a slice and a cliff though. That part's on whoever's holding it.
@BabylonLabs_io
#baby
$BABY
But that's not even the part worth sitting with. Back in May Babylon quietly switched the investor unlock from one big cliff into thirty six monthly slices, so Tuesday isn't "the unlock," it's the first of thirty five more, running all the way to April 2029. Everyone's bracing for one gut punch when it's actually just going to keep dripping for three years no matter where price sits. Feels like the wrong thing to be scared of, or at least scared of on the wrong timeline.
What I actually think about more, low key, is the burn auction. BSN rewards get bid on in BABY and whatever wins gets burned, gone. Caught one settling a few weeks back while half paying attention to something else and it stuck with me, because it's the one piece of this token where using the network actually costs supply instead of adding to it. Not close to offsetting 8% annual issuance, not even in the neighborhood, but it's real, it happens because something got used.
And the base thing still holds, the reason I paid attention to this in the first place. BTC staked through it never gets wrapped, never touches a bridge, no synthetic stand in pretending to be the real asset. That hasn't moved an inch since before the price did whatever it's doing now.
Chart doesn't know the difference between a slice and a cliff though. That part's on whoever's holding it.
@BabylonLabs_io
#baby
$BABY
