The team behind the Babylon protocol, a staking initiative for the leading cryptocurrency, has launched the Genesis mainnet as part of the second phase of its three-stage rollout.
Babylon Genesis is Live: Secured by Bitcoin to Unite the Decentralized World
Babylon Genesis, the world’s first L1 blockchain secured by Bitcoin, officially launches today.
This launch cements the Babylon Bitcoin staking protocol as the foundational infrastructure layer for… pic.twitter.com/tPXa8npbWH
— Babylon (@babylonlabs_io) April 10, 2025
“The launch establishes the protocol as the foundational infrastructure layer for Bitcoin and the most efficient staking solution in the Web3 ecosystem,” the statement reads.
Genesis is positioned as the first Bitcoin Secured Network (BSN) with enhanced security features. The solution will serve as a governance layer for the ecosystem and a liquidity hub for other BSNs expected to emerge in the third phase.
Since the first phase of deployment in August 2024, 57,000 BTC have been locked in the Babylon protocol. According to IntoTheBlock, the total volume of Bitcoin placed in DeFi services on EVM chains has reached 234,000 BTC, marking a 10% increase since the beginning of the year.
Currently, more than 234,000 BTC are deployed on EVM chains, a figure that has grown by around 10% since the start of the year.
This trend highlights how Bitcoin holders are increasingly turning to DeFi mechanisms, such as Bitcoin staking, to earn yield on their assets. pic.twitter.com/6oLZrYF2pq
— IntoTheBlock (@intotheblock) April 10, 2025
It is reported that custodians Bitgo and Anchorage, along with wallets from Binance, Bitget, and OKX, plan to integrate Babylon Genesis as a staking solution for the leading cryptocurrency.
The ecosystem includes over 250 “finalization providers” such as Figment and Kiln. Infrastructure providers include SatLayer and Ankr.
Alongside the mainnet launch, the Babylon Foundation conducted an airdrop of the BABY token. According to the distribution terms, assets have been credited to users, who will “soon” see them in their wallets.
Dear Babylonian, the Babylon Foundation is happy to announce that the airdrop has just been successfully executed! You should be able to see your BABY in your wallet very soon. There is no transfer restrictions on your BABY. You could also stake your BABY to secure Babylon…
— Babylon Foundation (@bbn_foundation) April 10, 2025
BABY can be staked for additional income and used as a governance token to manage the ecosystem on Genesis. The coins have no transaction restrictions, Babylon emphasized.
During the airdrop, it was planned to distribute 600 million BABY out of a total issuance of 10 billion tokens.
Developers of Babylon launched the testnet in February 2024. By December, the TVL of the project reached $3.63 billion.