The Babylon Bitcoin pledge function has been launched

PANews reported on April 12th that Babylon announced via Twitter that the Bitcoin pledge function has been launched. For the first time, Bitcoin can be pledged to provide proof of stake (PoS) security for Babylon Genesis and receive pledge rewards as a return. To ensure safety, only 1000 Bitcoins from the first phase Cap-1 are currently allowed to register. After a buffer and testing period of 24 hours, the Bitcoin pledge was officially activated at 18:04:03 on April 11 (UTC+8), at block height 27600 in Babylon's genesis block.

Previous news revealed that Layer 1 blockchain Babylon Genesis, which uses Bitcoin as collateral, has officially launched. It is reported that this is the second stage of Babylon's launch of the Bitcoin pledging protocol.