Babylon is a blockchain-based security-sharing protocol, powered by its native token BABY. The latest feature, Bitcoin staking, allows BTC holders to securely stake their idle BTC through a self-custody mechanism and earn rewards in BABY.
1. Prepare your wallets
You’ll need two wallets:
- A BTC wallet for staking Bitcoin
- A BABY-compatible wallet for receiving staking rewards
Recommended multi-asset wallets include Keplr, OKX Web3 wallet, Binance Web3 wallet, and Unisat.
Using Keplr as an example:
- Visit the Keplr Official Website to install the browser extension.
- Initialize the Keplr wallet with default settings.
- Please make sure your wallet has available BTC balance and BABY balance, or deposit BTC and BABY into your wallet
⚠️Important: Always back up your private key securely and never share it.
2. Connect wallets to the Babylon staking site
1) Access the staking page
- Visit the f2pool BTC staking page and click “Stake now”. Click "Continue" on the popup.
- You will go to the Babylon official staking site. Click “Connect Wallets” at the top right.
- Check all three options in the popup, and click “Next”.
2) Connect BTC wallet
- Click “Select Bitcoin Wallet”.
- Choose your BTC wallet (e.g., Keplr) and approve the popup.
- In the Babylon popup, choose “Do not use BTC with inscriptions for staking”, then click “Save” to complete the connection.
3) Connect BABY wallet
- Click “Select Babylon Chain Wallet” on the “Connect Wallets” popup, and follow the same steps as above.
- Once complete, click “Done”.
3. Stake your BTC
1）For new stakers
- Search for and select “stakefish” in the “Finality Provider” list on the BTC staking page.
- Enter your staking amount in the “Step 2” column on the right, and click “Preview”.
- Check the staking related information in the popup, including the staking amount, fees, terms, unbonding time, fees, etc.
- Click “Proceed to Signing” to submit the registration transaction. The registration transaction includes agreeing to slashing conditions, BTC and BABY wallet addresses binding, registration of staking transaction, etc.
- Wait for Babylon Genesis to verify the registration transaction.
- After verification, you can click “Stake BTC” and sign the transaction with your wallet. When you see the popup as shown on the right, your BTC staking is completed and your stake is active in Phase 2. (The "Stake BTC" step requires waiting for Bitcoin network block confirmation, which is expected to take about 5 hours)
⚠️Note: From this point on, your stake will be slashable, with a maximum slashing rate of 0.1%. ( Slashing is a default safety mechanism in the Babylon network and only occurs when the validators and the finality providers misbehave.)
2) For Phase-1 stakers
You must transition your Phase-1 stake to Phase-2:
- Locate the Phase-1 stake you want to transition to Phase-2 in the “Pending Registration” list on the BTC staking page, and click “Register”.
- Click “Proceed” on the popup to submit the registration transaction. The registration transaction includes agreeing to slashing conditions, BTC and BABY wallet addresses binding, registration of staking transaction, etc.
- Wait for Babylon Genesis to verify the registration transaction. After verification, your staking transaction has been successfully registered to the Babylon Genesis.
⚠️ Note: From this point on, your stake will be slashable, with a maximum slashing rate of 0.1%. (Slashing is a default safety mechanism in the Babylon network and only occurs when the validators and the finality providers misbehave.)
4. Check and claim staking rewards
You can check and claim your BTC staking rewards on the Dashboard.
5. Unbond a BTC stake
1) For a Phase-1 stake
On the BTC staking page, locate the BTC stake you want to unbond in the “Pending Registration” list, click the “┇” button next to the "Register" on the far right, and click “Unbond“ to begin the unbonding process.
2) For a Phase-2 stake
On the BTC staking page, locate the BTC stake you want to unbond in the “Babylon Genesis Stakes” list, click “Unbond“ to begin the unbonding process.
⚠️Note: After unstaking BTC, there is an unbonding time of approximately 7 days. During this time, your assets cannot be transferred or re-staked.
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