🚨 Babylon Testnet Is Shutting Down: What Testers Need to Do
The Babylon test network is officially shutting down ahead of an upgraded testnet launch on Tuesday, October 20, alongside its main network partners.
Founded in 2022 by Stanford professor David Tse, Babylon allows users to use native Bitcoin as loan collateral on Ethereum without giving up self-custody or using wrapped tokens. The team raised over $111M from top funds like Paradigm and Polychain Capital.
In an earlier testnet phase, users who minted the Bitcoin Pioneer Pass were rewarded with allocations from a 600M $BABY token airdrop pool.
Anyone testing the current vaults must clear their positions before the reset:
🔶 Repay any open test loans on the dashboard.
🔷 Withdraw test Bitcoin back to your personal wallet.
🔸 Transfer test $ETH back to your Ethereum address.
🔻 Old test balances will be cleared during the reset.
Did you claim their past airdrop or test this network? 👇
#Babylon #Bitcoin #Airdrop #Ethereum #CryptoNews
The Babylon test network is officially shutting down ahead of an upgraded testnet launch on Tuesday, October 20, alongside its main network partners.
Founded in 2022 by Stanford professor David Tse, Babylon allows users to use native Bitcoin as loan collateral on Ethereum without giving up self-custody or using wrapped tokens. The team raised over $111M from top funds like Paradigm and Polychain Capital.
In an earlier testnet phase, users who minted the Bitcoin Pioneer Pass were rewarded with allocations from a 600M $BABY token airdrop pool.
Anyone testing the current vaults must clear their positions before the reset:
🔶 Repay any open test loans on the dashboard.
🔷 Withdraw test Bitcoin back to your personal wallet.
🔸 Transfer test $ETH back to your Ethereum address.
🔻 Old test balances will be cleared during the reset.
Did you claim their past airdrop or test this network? 👇
#Babylon #Bitcoin #Airdrop #Ethereum #CryptoNews