Metamask
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Metamask
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#baby $BABY @BabylonLabs_io
The Babylon Bitcoin vault isn’t trustworthy
In August 2024, the Babylon team launched the Bitcoin6 staking protocol,
which allows BTC owners
to stake their funds in a trust-minimized way to secure Proof-of-Stake (PoS) networks—
including both L1 and
L2s. As of the time of writing, 44,000 BTC (worth US$5.2 billion) have been staked through
the
protocol.
In Babylon’s design, each staker creates a vault (an UTXO) that locks BTC by using pre-signed
Bitcoin transactions. These transactions are constructed so that the BTC can only be spent in
two cases: either (1) the staker initiates an unbonding (unstaking) action, or (2) cryptographic proof is
provided that the staker— or the authorized validator—has produced double-signed blocks at the same height on
the PoS chain.
Therefore, the protocol does not require trust assumptions: BTC is never linked to
any other chain, and each staker retains full control over their assets in their own vault.
We propose generalizing the concept of an untrusted Bitcoin vault into a foundational primitive for
DeFi protocols. Any BTC holder who wants to participate in a DeFi application creates a vault
by pre-signing a set of Bitcoin transactions (possibly with other participants). The
vault
6 (2023). Bitcoin Staking: Unlock 21 million Bitcoin to back a proof-of-stake economy.
The Babylon Bitcoin vault isn’t trustworthy
In August 2024, the Babylon team launched the Bitcoin6 staking protocol,
which allows BTC owners
to stake their funds in a trust-minimized way to secure Proof-of-Stake (PoS) networks—
including both L1 and
L2s. As of the time of writing, 44,000 BTC (worth US$5.2 billion) have been staked through
the
protocol.
In Babylon’s design, each staker creates a vault (an UTXO) that locks BTC by using pre-signed
Bitcoin transactions. These transactions are constructed so that the BTC can only be spent in
two cases: either (1) the staker initiates an unbonding (unstaking) action, or (2) cryptographic proof is
provided that the staker— or the authorized validator—has produced double-signed blocks at the same height on
the PoS chain.
Therefore, the protocol does not require trust assumptions: BTC is never linked to
any other chain, and each staker retains full control over their assets in their own vault.
We propose generalizing the concept of an untrusted Bitcoin vault into a foundational primitive for
DeFi protocols. Any BTC holder who wants to participate in a DeFi application creates a vault
by pre-signing a set of Bitcoin transactions (possibly with other participants). The
vault
6 (2023). Bitcoin Staking: Unlock 21 million Bitcoin to back a proof-of-stake economy.
Verified
#baby $BABY
Bitcoin security is being developed with a team at Babylon Trustless Bitcoin Vaults. TBV introduces an enhanced trust approach to protect BTC while still keeping users in control of their assets. This is a major and exciting step forward for Bitcoin infrastructure and long-term security. @BabylonLabs_io
Bitcoin security is being developed with a team at Babylon Trustless Bitcoin Vaults. TBV introduces an enhanced trust approach to protect BTC while still keeping users in control of their assets. This is a major and exciting step forward for Bitcoin infrastructure and long-term security. @BabylonLabs_io
#baby $BABY
@BabylonLabs_io
Complete tasks on Binance Square Creatorpad to unlock a share of 2,390,000 $BABY from @babylonlabs_io.
Know more → binance.com/en/support/ann…
@BabylonLabs_io
Complete tasks on Binance Square Creatorpad to unlock a share of 2,390,000 $BABY from @babylonlabs_io.
Know more → binance.com/en/support/ann…
#BinancePickAndWin let's share together with binace wold cup.. BNB is always at the top.
@BNB Chain
Predict the score and receive 2026 usdc if you are lucky, click on the link and apply for rewards for the lucky ones.
My prediction is that the Brazilian team will be untranslated this time.
@BNB Chain
Predict the score and receive 2026 usdc if you are lucky, click on the link and apply for rewards for the lucky ones.
My prediction is that the Brazilian team will be untranslated this time.
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