Babylon first phase of pledges was snapped up in less than six blocks, with Solv and Bedrock performing particularly well

According to @ai_9684xtpa, the 1,000 BTC pledge quota for the first phase of Babylon's opening was snapped up in less than six blocks last night, with a total of 20,610 pledge transactions involving 12,720 addresses. At one point after the pledges were opened, miner fees spiked to $200 and also averaged $130, putting considerable cost pressure on individual pledgers.

Among the various BTC LST protocols, Solv and Bedrock performed particularly well - Solv managed to pledge 250 BTC, while Bedrock pledged 230 BTC. it's worth noting that in order to ensure decentralization, Babylon officially set a 250 BTC pledge cap, so even though SolvBTC.BBN has a TVL of 2,500 BTC, it only managed to pledge 250 in the first phase.

Aunt Ai added that it is expected that Phase 2 pledges might be more inclined to go through third-party protocols to reduce the burden of miner fees.