Babylon Introduces Staking Cap-3

Babylon Labs, which creates native use-cases for Bitcoin, including Bitcoin’s preeminent staking protocol with over $2 billion in Total Value Locked (TVL), announced that the protocol will enhance its staking capacity with the initiation of Cap-3 in its mainnet phase-1. The new cap opens a 1,000 BTC block staking opportunity, building on the success of Cap-2, which garnered a TVL of 23,857 BTC ($2 billion at current valuation) in 10 BTC blocks. Cap-3 enables the Babylon protocol to maintain its stature as the most significant and largest staking solution within the Bitcoin ecosystem.

In this fresh staking opportunity, both institutional and retail participants can engage in Bitcoin staking through industry-leading platforms. Anchorage Digital, a premier digital asset platform recognized for its institutional-grade services, will facilitate BTC staking access for Cap-3, expanding institutional participation in Babylon’s developing ecosystem. Sui, an innovative Layer-1 blockchain and smart contract platform, will also join Cap-3, inviting BTC holders to stake their BTC, thereby unlocking Bitcoin’s $1. 8 trillion USD liquidity on the Sui network. Furthermore, notable institutional wallet and custody providers have collaborated with Babylon to enhance institutional access to Bitcoin staking for Cap-3. Additional participating platforms include Binance, the first centralized exchange to provide Babylon BTC Staking through Binance Earn as part of its On-Chain Yields service, the initial Cosmos wallet enabling BTC staking, Leap Wallet, Onekey hardware wallets (Pro), Unisat, and Gate web3.

The Babylon Bitcoin staking protocol functions as a security marketplace, uniting Bitcoin holders supplying staking assets with Proof of Stake (PoS) chains and rollups seeking Bitcoin security. On the supply side, Bitcoin holders have contributed to Babylon’s Bitcoin staking TVL, now surpassing $2 billion, while on the demand side, PoS chains and rollups are integrating with Babylon to fulfill their security requirements. Consequently, PoS systems and rollups will be able to leverage Babylon’s scalable staking features to unlock value from the dormant, unencumbered $1+ trillion Bitcoin ecosystem.

Fisher Yu, Chief Technology Officer of Babylon Labs, stated, “With Babylon, Bitcoin’s largest staking protocol, Bitcoin stakers and institutional providers are building on the $2 billion TVL achievement while broadening access for both institutional and retail participants. This latest phase reinforces Babylon’s role in unlocking untapped value within Bitcoin’s trillion-dollar ecosystem and propelling forward our vision to create native use-cases of Bitcoin that enhance Bitcoin’s utility and impact. “

Nathan McCauley, Chief Executive Officer and Co-Founder of Anchorage Digital, remarked, “Protocols like Babylon are revealing new avenues for institutions to engage in the Bitcoin ecosystem. By collaborating with Babylon for their Cap-3 launch, Anchorage Digital is facilitating institutional involvement in Bitcoin staking with the safety and security that is required. We are proud to partner with crypto innovators such as Babylon as part of our commitment to simplifying institutional access to decentralized finance. “

Jameel Khalfan, Global Head of Ecosystem at the Sui Foundation stated, “Bitcoin is here to remain, and now its functionality is available to participants on the Sui network. We are excited to collaborate with Babylon to introduce new staking innovations across Bitcoin and Sui’s robust networks. “

Jeff Li, VP of Product at Binance remarked, “With the introduction of Babylon BTC Staking, Binance is providing users with a seamless and effective gateway to on-chain Bitcoin staking. By integrating with Babylon Protocol, we are enabling our users to engage in Bitcoin staking without difficulty, while also aiding in the expansion of the Bitcoin staking ecosystem. This partnership emphasizes our commitment to simplifying access to decentralized finance and sustainable yield solutions. “

Jacob Phillips, Co-founder at Lombard expressed, “As Babylon’s largest liquid staking partner, we observe firsthand the growing demand from both retail and institutional participants to maximize their Bitcoin holdings. Babylon’s enhanced capacity allows more Bitcoin to enter the ecosystem as a productive asset, creating opportunities for Bitcoin holders to obtain staking rewards and engage in DeFi with LBTC, all while maintaining security. “