{"id":13622,"date":"2024-02-28T23:30:01","date_gmt":"2024-02-28T23:30:01","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=13622"},"modified":"2024-02-28T20:58:00","modified_gmt":"2024-02-28T20:58:00","slug":"binance-labs-invests-in-bitcoin-staking-protocol-babylon","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/binance-labs-invests-in-bitcoin-staking-protocol-babylon\/","title":{"rendered":"Binance Labs invests in Bitcoin staking protocol Babylon"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:240\">Binance Labs, the venture capital arm of crypto giant Binance, has invested in Babylon, a novel protocol aiming to revolutionize Bitcoin staking.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We\u2019ve invested in <a href=\"https:\/\/twitter.com\/babylon_chain?ref_src=twsrc%5Etfw\">@babylon_chain<\/a>!<\/p>\n<p>Babylon is a blockchain project that designs security sharing protocols with a mission of scaling Bitcoin to secure the decentralized economy.<\/p>\n<p>Read more\ud83d\udc47<a href=\"https:\/\/t.co\/9f5c2vt38S\">https:\/\/t.co\/9f5c2vt38S<\/a><\/p>\n<p>\u2014 Binance Labs Fund (@BinanceLabs) <a href=\"https:\/\/twitter.com\/BinanceLabs\/status\/1762478051500175692?ref_src=twsrc%5Etfw\">February 27, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p data-sourcepos=\"7:1-7:313\">While the specific amount remains undisclosed, Babylon co-founder David Tse revealed the investment structure mirrors their previous funding rounds \u2013 a combination of equity and token warrant options. In December 2023, Babylon secured $18 million in Series A funding, following an $8.8 million seed round in 2022.<\/p>\n<blockquote>\n<p data-sourcepos=\"7:1-7:313\"><a href=\"https:\/\/coinengineer.net\/blog\/binance-announced-11th-reserve-proof\/\"><strong>Binance Announced its 11th Reserve Proof!<\/strong><\/a><\/p>\n<\/blockquote>\n<p data-sourcepos=\"15:1-15:109\">Babylon&#8217;s testnet launch is imminent, scheduled for this week, according to Tse. But what exactly is Babylon?<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/binance-labs-invests-in-bitcoin-staking-protocol-babylon\/#What_is_Babylon\" title=\"What is Babylon?\">What is Babylon?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/binance-labs-invests-in-bitcoin-staking-protocol-babylon\/#Babylons_Roadmap\" title=\"Babylon&#8217;s Roadmap\">Babylon&#8217;s Roadmap<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 data-sourcepos=\"17:1-17:24\"><span class=\"ez-toc-section\" id=\"What_is_Babylon\"><\/span>What is Babylon?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-sourcepos=\"19:1-19:336\">At its core, Babylon is a <a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-and-nasdaq-correlation-broken\/\">Bitcoin<\/a> staking protocol. It empowers Bitcoin holders to stake their holdings on proof-of-stake (PoS) blockchains, unlocking the potential to earn rewards. This essentially transforms Bitcoin into a staking asset for PoS networks, leveraging its robust security to bolster the overall security of these chains.<\/p>\n<p data-sourcepos=\"23:1-23:394\">Currently, PoS networks rely on their native tokens for security, which can be expensive, particularly for nascent chains often resorting to hefty staking rewards to attract capital. The Cosmos Hub ecosystem, where each application has its own blockchain, exemplifies this challenge. Babylon is actively working on integrating with the Cosmos Hub ecosystem, as previously reported by The Block.<\/p>\n<h3 data-sourcepos=\"29:1-29:22\"><span class=\"ez-toc-section\" id=\"Babylons_Roadmap\"><\/span>Babylon&#8217;s Roadmap<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p data-sourcepos=\"31:1-31:257\">The first PoS chain secured by the Babylon protocol will be its own chain, built using the Cosmos SDK. Subsequently, Babylon will establish a marketplace allowing BTC holders to seamlessly restake their holdings to other PoS networks through their platform.<\/p>\n<p data-sourcepos=\"33:1-33:155\">Bolstered by Binance Labs&#8217; investment, Babylon plans to expand its development team and target a launch of their mainnet phase one by year-end, as per Tse.<\/p>\n<hr \/>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019 t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance Labs, the venture capital arm of crypto giant Binance, has invested in Babylon, a novel protocol aiming to revolutionize Bitcoin staking. We\u2019ve invested in @babylon_chain! Babylon is a blockchain project that designs security sharing protocols with a mission of scaling Bitcoin to secure the decentralized economy. Read more\ud83d\udc47https:\/\/t.co\/9f5c2vt38S \u2014 Binance Labs Fund (@BinanceLabs) February<\/p>\n","protected":false},"author":1,"featured_media":13624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,2],"tags":[4609,1543,4610],"class_list":["post-13622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","category-news","tag-babylon","tag-binance-labs","tag-bitcoin-staking"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance Labs invests in Bitcoin staking protocol Babylon - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Binance Labs invests in Bitcoin staking protocol Babylon. 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