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Babylon Labs, a Bitcoin staking protocol, has successfully completed its second staking round, locking up 23,000 BTC worth approximately $1.4 billion. The new 'duration-based' staking model attracted significant interest, with a total of 22,891 BTC staked. Unlike the previous round in August, which saw fees spike to $132, this round maintained much lower network fees, peaking at just $2.37. The protocol briefly lifted its deposit cap, resulting in a surge of staking deposits. The total fees collected amounted to 1.56 BTC, with 12,570 stakers and 12,960 delegations participating in the round. The pending stake was 18.7K BTC, and the protocol aimed to stake 100% of its deposits, surpassing the initial cap of 1,000 BTC.
.@babylonlabs_io Cap-2 Completed Total staked: 22891 $BTC Delegations: 12.96K Stakers: 12.57K Total fees: 1.56 $BTC https://t.co/4MP3KZHiyv https://t.co/1TN8HGhfYR
Babylon Staking Pulls in $1.4B in BTC - Without the Fee Surge 23,000 BTC locked into Babylon’s second staking round, and this time network fees stayed in check, peaking at just $2.37. Babylon’s shift to a duration-based model worked - unlike the August round that sent fees… https://t.co/sf0K0dRZcr
Babylon Snags 23K BTC, No Fee Spikes This Time! Babylon just locked up $1.4B worth of Bitcoin in its latest staking round, and guess what? Fees didn’t go wild like last time. 23,000 BTC pulled in, but median fees only hit $2.37 - way smoother than August’s crazy $132 spikes.… https://t.co/bCxzcz7fve
