Babylon (BABY)
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Last updated
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Stake activation time
7 BTC blocks ( ~1h50 depending on network activity)
Stake lock-up time
7 days
Auto-compounding
No
Rewards frequency
TBD
Self-bond
No
Active set
TBD
Min stake amount
0.005 BTC
Max stake amount
5,000 BTC
Slashing
Yes - only for double signing
BTC Staking Slashing ratio: 0.1%
BABY Slashing ratio: 5%
Relationship between validator stake balance and rewards
Linear. The more stake balance there is on the validator, the more rewards it will earn.
How to stake via a UI?
View available options below.
How to integrate staking into a wallet/custodian solution?
In order to stake BTC on Babylon you need to initiate a staking transaction on the Bitcoin blockchain. The components of these transactions are: 1. The Finality Provider information: You will specify which Finality Provider (Validator) you are delegation your staked assets to. 2. A Timelock Transaction: You lock your coins for a specific amount of time. After that amount of time has passed, the coins can be instantly redeemed. 3. Slashing transaction: You pre-sign a transaction that will slash some of your staked coins if an only if your Finality Provider double-signs when securing consumer chains. Please see the wallet integration guide here.
Can I keep staking/unstaking from/to the same wallet?
You can not add to your existing stake position. If you want to stake more, it will have to be through a different position.
Can I select how much of my wallet balance I want to stake?
Yes.
Can I unstake part of the staked balance?
That functionality is not allowed by the protocol for now.
When can I withdraw my staked BTC?
Either - After redemption, at the end of the timelock period you have set when you initiated the staking action. Funds will instantly be withdrawn. - After you initiate an "unbonding" transaction, which will withdraw your BTC after 7 days.
The Stake App supports the below BTC staking wallets. Install the browser extension for your preferred wallet and deposit your BTC before proceeding to the next step.
Fordefi (currently supported by selecting UniSat in the selector)
And the following hardware wallets
OneKey (hardware wallet)
IMPORTANT NOTES
The only supported hardware wallets is OneKey. Ledger and any other hardware wallet is not supported yet.
Do not use a wallet that holds any Bitcoin Inscriptions
choose either Native Segwit or Taproot address format in your wallet (when switching between the two, you may need to disconnect and connect your wallet again for change to update in the Stake App UI)
Fordefi supports Bitcoin transactions only on taproot addresses. Ensure your Bitcoin vault has a taproot address.
Navigate to the Kiln’s BTC Staking Interface. The direct link will be:
Connect your wallet. If you’re visiting the website for the first time, you will need to sign the signature request to get your wallet connected.
Input the amount of BTC you want to stake. During Babylon Phase 1, you have the option to stake between 0.005 and 5,000 BTC per transaction.
Select or switch the address format in your wallet.
Next you can choose to keep the current network fee or prioritize your delegation by increasing the transaction fee.
If your stake arrives after the cap is filled, then it will be in the “overflow” status and you will need to unbond and withdraw your BTC.
Finalize the staking process by clicking “Stake” and confirm the transaction in your wallet.
Congratulations you have successfully staked your BTC to Babylon via Kiln’s Finality Provider. You can now track your staked position via the Staking Terminal.
To stake Bitcoin on Babylon with Fordefi, perform the following steps:
Make sure you have a Bitcoin vault with a taproot address, and that you have the Bitcoin you want to stake on that address.
Open your Fordefi browser extension, click the ☰ button in the top left corner to open the options menu, and toggle on "Impersonate Bitget for Bitcoin."
Navigate to the Babylon Staking Dashboard.
Click Connect to BTC Network in the top right corner of the DApp webpage.
Select the three approval checkboxes.
Select Bitget Wallet and click Connect to BTC network.
In the list that appears, select your Bitcoin vault and the taproot address and click Connect.
Find Kiln's Finality Provider by searching by name, Kiln, or by public key, 053107172a3d5a2715754cd5793efdcf5e54364b855ed2305819e372aa685d76
Define the amount you want to stake.
Click Preview, review the parameters, and then click Stake.
The Fordefi browser extension shows a popup with the details of the transactions. Check the transaction and click Create.
Keep the Babylon DApp browser tab open, and sign the transaction in the Fordefi mobile app. If your Transaction Policy requires additional approvers, have them approve the transaction first.
Once you sign the transaction in the Fordefi mobile app, the transaction should appear in the Staking history section of the Babylon DApp.
