FAQs
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Last updated
Babylon is a Shared Security Protocol that leverages Bitcoin to enhance the security of the Proof-of-Stake (PoS) chains.
By introducing the concept of Bitcoin staking, it allows Bitcoin holders to stake their bitcoins and earn yield while bolstering the security of PoS chains. The protocol offers a trustless approach to staking bitcoins without the need for bridging them to the PoS chain, while still ensuring the chain's security. It supports fast stake unbonding, maximizing liquidity for Bitcoin holders.
This integration of Bitcoin and the PoS economy opens up new possibilities and marks a significant step forward in the evolution of these systems. To learn more about Babylon, you can refer to the document at this link: .
PumpBTC serves as a Liquid Restaking Solution for Babylon. PumpBTC aims to help BTC holders maximize yields through Babylon's liquid staking - essentially rebuilding WBTC with native yield.
By abstracting complexities, PumpBTC facilitates effortless collaboration between users and Babylon node operators. Users can stake into Babylon with a single action through PumpBTC, immediately receiving liquidity tokens without waiting periods.
Our mission is to bring DeFi into the Bitcoin ecosystem, driven by an ecosystem-centric approach and supported by seasoned DeFi experts and industry-leading partners.
$PumpBTC is a liquid staking token that represents BTC staked on the Babylon platform through PumpBTC. By utilizing PumpBTC, you can retain liquidity for your BTC holdings while also earning yields directly from Babylon. Users will receive PumpBTC at a conversion rate of 1:1 with WBTC/BTCB.
BTCB, and WBTC can be staked into PumpBTC now.
With Babylon's comprehensive farming solution, you can transform your BTC holdings into a yield-bearing asset while simultaneously earning points from Babylon and various DeFi protocols. It's like hitting "multiple birds with one stone." Here's what you can expect:
Amplified Yield Generation
By converting your BTC.B/WBTC to $pumpBTC, you gain access to multiple reward streams, including Babylon's native rewards.
This conversion enables you to unlock additional opportunities for earning rewards and maximizing the benefits provided by Babylon, alongside other available reward programs.
Points Aggregation
The platform enables users to accumulate substantial points through farming activities across various L2/L3 protocols and other chains. PumpBTC offers additional points and potentially unlocks further benefits within the broader ecosystem.
Liquidity Farming
$pumpBTC serves a dual purpose as collateral and a Liquidity Farming token for all EVM L2/L3 protocols. You have the option to provide liquidity on partner decentralized exchanges (DEXes) and earn additional rewards through Liquidity Farming.
Flexible BTC Exposure:
Should you desire to maintain BTC exposure while managing your positions more flexibly, $pumpBTC can be easily swapped back to BTC.B or WBTC using the incentivized pumpBTC/BTC.B and pumpBTC/WBTC liquidity pools. This flexibility allows you to optimize your portfolio without being limited by the Babylon BTC unlock schedule.
Safety.
Prioritizing security, PumpBTC doesn't directly hold user assets but instead collaborates with professional, licensed custodians like Cobo MPC and Coincover. This approach significantly reduces risks associated with traditional bridges (such as Multichain, Nomad, etc) while still enabling additional yields.
Transparency is at the forefront of PumpBTC's design, with a real-time dashboard displaying Proof of Asset data, allowing users to constantly monitor their staked BTC.
PumpBTC does not impose any minimum staking requirements, allowing individuals to engage in staking according to their own needs and preferences.
The team consists of experienced individuals in the DeFi industry with a strong background in the crypto space. They have worked on multiple DEX smart contracts, contributed to the WBTC DAO, developed Myshell, and successfully launched the Soul-bound token collection with 1 million unique addresses.
PumpBTC supports a variety of popular wallets, including Rainbow, Metamask, OKEx, etc.
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