- Binance launches On-chain Yields, introducing Babylon BTC Staking with direct rewards through Babylon Points.
- Babylon BTC Staking enables Bitcoin staking on PoS networks without third-party custodians or bridging solutions.
Binance has taken a huge step toward furthering decentralized finance by launching its On-chain Yields financial products, with Babylon BTC Staking serving as the first sponsored project. Through their Binance accounts, this project lets users interact directly with on-chain systems and get Babylon Points in return.
Binance wants to provide a flawless and safe experience by speeding access to staking services, therefore simplifying the procedure for Bitcoin owners.
Simplifying Bitcoin Staking in PoS Networks
Babylon BTC Staking offers a creative way to use Bitcoin inside Proof-of-Stake (PoS) systems. Babylon lets BTC holders engage in staking straight on PoS blockchains, unlike conventional approaches that can depend on third-party custodians, bridging solutions, or token wrapping.
This method makes the network safer by using slashable economic guarantees. It also makes sure that unbonding works well to keep liquidity high. Apart from staking incentives, users gain from the extra security and freedom Babylon provides.
The venture capital division of Binance, Binance Labs, made public its strategic investment in Babylon earlier this year. This cooperation emphasizes Binance’s dedication to assisting innovative blockchain projects.
With Babylon integrated into Binance’s system, users can optimize their Bitcoin holdings by contributing to network security and earning additional rewards, all without leaving the Binance ecosystem.
Babylon BTC Staking fits Binance’s larger goal of enabling consumers with creative financial tools. Integrating Babylon, Binance addresses shared issues about Bitcoin staking, including security, simplicity of use, and liquidity.
The smooth change between conventional Bitcoin ownership and active staking shows Binance’s commitment to closing gaps in the blockchain area and promoting adoption.
Notably, CNF previously reported that Binance will assist the Wise Monkey (MONKY) airdrop for APE and FLOKI holders. Depending on particular ratios and requirements, eligible users will get MONKY tokens.
