Babylon, the Bitcoin staking protocol that has been in development since 2022, has launched its testnet to the public, The Block reports.
The testnet is built on the Bitcoin test network BTC Signet, Babylon said on Wednesday.
This is the first testnet for Babylon’s staking protocol. “We have multiple steps ahead of mainnet launch,” said Babylon co-founder David Xie. “Some of these steps will enable users to lock up real Bitcoin and earn staking points, including post-audit and during incentivized testnets,” he said.
Xie added that the post-audit testnet is expected to launch between May and June, with the mainnet slated for the second half of 2024.
According to information on Babylon’s website, to participate in Babylon’s testnet, users will need to download the browser extensions for OKX and Keplr wallets and earn Signet Bitcoin via the Signet faucet and the Babylon (BBN) testnet token through its Discord faucet channel.
Early stakers of the Babylon testnet will receive the “Bitcoin Pioneer Pass NFT.” The application period for the passes runs from February 28 to March 5, and quantities are limited, the website reads. The pass will also grant access to some "exclusive" unspecified features.
“This testnet launch is a practical demonstration of how Bitcoin can be staked into a PoS [proof-of-stake] chain to ensure security,” Jehan Trenbach of Informal Systems’ Cosmos Hub team said in a statement. “We Very excited about this and can’t wait to integrate Babylon into the products we build.”