500 BTC quota was gone in 2 minutes; by the time I opened the browser, it was already gone.
On July 19, Solv Protocol and Babylon jointly opened an early staking quota for 500 BTC.
500 BTC, at current prices, is worth tens of millions of dollars. When I opened the page, it showed “Full.” In 2 minutes, the 500 BTC was snapped up. I didn’t even get a chance to click the button.
What was even more frustrating was that on-chain analysts’ data showed that two whales alone took 299 BTC. 299 BTC, nearly 60% of the total. Retail users were left fighting over the remaining 201 BTC, with hundreds or even thousands of people splitting that tiny amount. @BabylonLabs_io
This wasn’t the first time. Before this, pSTAKE launched liquid staking on Babylon with a deposit cap of 50 BTC. 50 BTC was also gone in 2 minutes. Big players got the meat, while retail users couldn’t even get the soup, only catch the smell.
Babylon said its TVL exceeded $6 billion and that more than 57,000 BTC were locked. But out of those 57,000 BTC, how much actually came from ordinary retail users? My guess is the share is pitifully small. Whales and institutions used early quotas, exclusive channels, and batch operations to take most of the profit opportunities. Retail users could only stare at the “Full” page in silence.
This isn’t just a Babylon problem. Almost all early high-yield opportunities follow the same script — limited quota, whales take the whole stage, and retail users just run along. But every time I see data like “gone in 2 minutes,” I still feel a sinking feeling.
I’m not saying Babylon is bad. The technology is indeed ahead, and the financing background is indeed strong. But “technological leadership” and “retail users making money” are two very different things. Next time another quota opens, I won’t stupidly wait for the page to load. What retail users can do is either prepare in advance and race for speed, or give up on the idea and honestly just hold BTC without overcomplicating things.
#baby $BABY
On July 19, Solv Protocol and Babylon jointly opened an early staking quota for 500 BTC.
500 BTC, at current prices, is worth tens of millions of dollars. When I opened the page, it showed “Full.” In 2 minutes, the 500 BTC was snapped up. I didn’t even get a chance to click the button.
What was even more frustrating was that on-chain analysts’ data showed that two whales alone took 299 BTC. 299 BTC, nearly 60% of the total. Retail users were left fighting over the remaining 201 BTC, with hundreds or even thousands of people splitting that tiny amount. @BabylonLabs_io
This wasn’t the first time. Before this, pSTAKE launched liquid staking on Babylon with a deposit cap of 50 BTC. 50 BTC was also gone in 2 minutes. Big players got the meat, while retail users couldn’t even get the soup, only catch the smell.
Babylon said its TVL exceeded $6 billion and that more than 57,000 BTC were locked. But out of those 57,000 BTC, how much actually came from ordinary retail users? My guess is the share is pitifully small. Whales and institutions used early quotas, exclusive channels, and batch operations to take most of the profit opportunities. Retail users could only stare at the “Full” page in silence.
This isn’t just a Babylon problem. Almost all early high-yield opportunities follow the same script — limited quota, whales take the whole stage, and retail users just run along. But every time I see data like “gone in 2 minutes,” I still feel a sinking feeling.
I’m not saying Babylon is bad. The technology is indeed ahead, and the financing background is indeed strong. But “technological leadership” and “retail users making money” are two very different things. Next time another quota opens, I won’t stupidly wait for the page to load. What retail users can do is either prepare in advance and race for speed, or give up on the idea and honestly just hold BTC without overcomplicating things.
#baby $BABY