Babylon: Only 2 days left until Bitcoin mainnet staking goes live, with the first phase staking capped at 1,000 BTC

Odaily News Bitcoin pledge protocol Babylon posted on the X platform: "In two days, the world's first self-hosted Bitcoin pledge mainnet will be officially launched." According to its announcement, Babylon Bitcoin pledge will be launched in three stages, namely the Bitcoin lock-up stage (Bitcoin holders initiate the pledge process by submitting Bitcoin pledge transactions to the Bitcoin blockchain), the Bitcoin pledge activation stage (a Babylon PoS chain will be launched to receive the cryptoeconomic security provided by the Bitcoin locked in the first stage), and the Bitcoin multi-pledge activation stage (the Babylon Bitcoin pledge protocol will evolve into a shared security market, enabling any PoS system to take advantage of Bitcoin pledge security). In the first stage, each pledge is set with a maximum pledge time (i.e., the time lock in the Bitcoin pledge script), which is 64,000 Bitcoin blocks, equivalent to approximately 15 months. This means that each pledge will automatically expire and can be withdrawn after reaching this time limit. However, the pledger can unbind his pledge on demand at any time before it expires. After unbinding, there will be an on-chain unbinding period of 1008 Bitcoin blocks (approximately 7 days and defined in the unbinding Bitcoin script), after which the stake will expire and be available for withdrawal. All transactions in Phase 1 will be Bitcoin transactions, and stakers will not need to sign other transactions or messages, and no penalties for Bitcoin staking will occur during Phase 1. For security reasons, an initial total staking cap of 1,000 Bitcoin will be set. This cap will be gradually relaxed as Phase 1 progresses. In addition to the initial 1,000 Bitcoin total staking cap, each staking transaction will also have a limit, minimum staking amount: 0.005 BTC, minimum staking amount: 0.005 BTC. In Phase 1, since there is no active PoS chain, staking rewards will not be given directly. Instead, a points system will be used to measure the activity of each staker, which is tracked through the staker's public key.