#baby I looked into Babylon’s current roadmap, and I have to pour some cold water on it. The technical narrative is rich, but the reality of “collecting rent” is harsh—so what exactly is it making money from?
Now they’ve moved the table to TBV, partnering with Aave and Aegis to do BTC-collateralized lending, and also sketching out a 10,000,000,000-coin dream with GoMining. The direction is right—turning dead capital into living capital. But activating a large amount of funds doesn’t mean Babylon’s treasury can magically grow.
Take an ETH-based protocol as an example: whoever matches the deals collects the fees. But in Babylon, lending comes from Aave, interest rates are provided by Aegis, and mining is done by GoMining. Babylon quietly contributes at the base layer—so what is Babylon’s cut mechanism? Does it charge tolls from passersby?
At this point, there’s not a single clear, computable set of numbers. If, along this value chain, users’ money and returns are controlled by partners, Babylon can easily end up as a “great but cheap” foundational layer. Infrastructure without pricing power is at a disadvantage.
Besides, Aegis only just launched for the year-end Q4, and it’s still a puzzle-game stage. Progress from staking to TBV is real, but the business model can’t be based on guesswork. I’ll ask three questions: With $10,000,000 in volume, how much dividend can Babylon capture? Who’s willing to keep paying as the never-ending patsy? If these aren’t figured out, the story from $BABY still has flaws. $BTC @BabylonLabs_io
Now they’ve moved the table to TBV, partnering with Aave and Aegis to do BTC-collateralized lending, and also sketching out a 10,000,000,000-coin dream with GoMining. The direction is right—turning dead capital into living capital. But activating a large amount of funds doesn’t mean Babylon’s treasury can magically grow.
Take an ETH-based protocol as an example: whoever matches the deals collects the fees. But in Babylon, lending comes from Aave, interest rates are provided by Aegis, and mining is done by GoMining. Babylon quietly contributes at the base layer—so what is Babylon’s cut mechanism? Does it charge tolls from passersby?
At this point, there’s not a single clear, computable set of numbers. If, along this value chain, users’ money and returns are controlled by partners, Babylon can easily end up as a “great but cheap” foundational layer. Infrastructure without pricing power is at a disadvantage.
Besides, Aegis only just launched for the year-end Q4, and it’s still a puzzle-game stage. Progress from staking to TBV is real, but the business model can’t be based on guesswork. I’ll ask three questions: With $10,000,000 in volume, how much dividend can Babylon capture? Who’s willing to keep paying as the never-ending patsy? If these aren’t figured out, the story from $BABY still has flaws. $BTC @BabylonLabs_io