Babylon’s TBV enables BTC self-custody staking to participate in PoS security. @BabylonLabs_io’s approach offers an additional layer of autonomy compared to previous custody solutions—but the responsibility also fully returns to the user. No one else shares the private key risk. The project team is opening up a new scenario, but in the end users only have one ledger to balance: after subtracting operational costs and risks, will what you actually get in hand cover your investment? If, in the end, it still relies on the $BABY token to build expectations and the real returns take a long time, then it’s fundamentally no different from the earlier BTC derivative projects that got you “rugged back.” #baby