Babylon is the largest staking project in the Bitcoin ecosystem. Users can complete the decentralized staking of BTC through Babylon and unlock the staking income of BTC.
Babylon innovatively extracts security from the Bitcoin chain and extends this security to other PoS chains, such as Cosmos, Binance Smart Chain, Polygon and other public chains, which is the source of its staking income.
Babylon's financing amount has also gradually increased, from the initial $8 million financing to $70 million financing last month, which means that institutions are increasingly optimistic about the development of the project, including well-known institutions such as Paradigm, Polychain, IDG, Binance Labs and other major investors.
https://x.com/babylon_chain/status/1796171723471258091
Babylon launched the testnet pledge activity before the normal launch in order to ensure the security and stability of its pledge process.
Currently, the pledge activity of Testnet-4 has been carried out for 2 rounds, but due to too many participants, the quota was quickly used up.
The official updated the news about the 3rd test last night. This test will start at 5 pm Beijing time on May 19 and end at 5 pm on June 24. It is limited in time but not in quantity. Users are advised to get water in advance and prepare.
In this tutorial, we will combine another Babylon-based re-staking project Chakra to kill two birds with one stone.
Chakra is an official cooperation project of Babylon. It is based on ZK-STARK's staking proof and ZK light client. It can safely and efficiently map BTC staked through Babylon to any ecosystem, enabling many BTC Layer 2 and decentralized applications (DApps).
https://x.com/ChakraChain/status/1803031298816266590
With the launch of Babylon's third test, Chakra also simultaneously launched its own testnet third phase activities, which can be completed together with Babylon's activities.
To receive test coins, we need to use the BTC Signet network, open the OKX wallet, adjust the network to BTC Signet, and then add BTC tokens, as shown in the figure below.
Next, copy your wallet address (starting with "tb1p"), join the Babylon official DC, and go to the #faucet-signet-btc channel to receive the test coins.
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Currently, there are a large number of people receiving official DC, and it may be prompted that the token sending failed. Here are two additional ways to receive it for your reference.
Tomo signet faucetTomo signet faucett.co
Users need to install Tomo wallet, then fill in the wallet address, wait for about 10 minutes, and you can get 0.0007 BTC test coins. If there are many people, it may fail to claim.
If the above two methods cannot be used, you can choose to directly purchase test coins.
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Select Swap, here we can exchange ETH on the Arbitrum chain for BTC on the BTC Signet network.
Then enter the wallet address, you can receive the test coins in real time, without having to wait for the faucet to be repaired in DC.
Note: Whether you are collecting or buying directly, the Signet network is currently too congested and the speed of arrival is very slow. It may take about 30 minutes for direct purchase to arrive. Please wait patiently.
Babylon - Staking DashboardBTC Staking Dashboardbtcstaking.testnet.babylonchain.io
Users can stake Signet Bitcoin on the test network in two ways.
Pledge directly on the Chakra Staking dApp
Pledge on the Babylon Staking dApp and select Chakra as the Finality Provider
Either way, users can complete the interaction of the two projects at the same time. Below we will directly demonstrate the way to stake on the Babylon official interface.
Open the above staking website, select Chakra as the Finality Provider, enter the staking amount (0.0005 to 0.05 sBTC) and stake.
After the pledge is successful, open the pledge history to view your pledge details.
When the transaction changes from "locked", it means that the pledge is successful. The entire confirmation process may take up to 1 hour, please wait patiently.
If the above error interface appears, it means that the current gas fee is high and your balance is not enough to pay the gas fee and the funds to be pledged.
The solution is to wait for the gas to drop, or get some more test coins.
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Before completing the Galaxy Mission, if the user has not bound the signet address, he needs to complete the binding first.
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Open the address above, click Bitcoin Signet, sign and complete the signet address binding.
After the binding is completed, your signet address will appear on the page.
There are currently two Galaxy missions that can be done. The water-collecting mission in Chapter 0 requires users to fill in the transaction hash. If you purchase directly, fill in the transaction hash when purchasing.
The staking BTC test coin mission in Chapter 1, if the limit is full and cannot be completed temporarily, you can wait for the subsequent test quota to be released.
The second one is also to like and quote the latest tweet, and fill in the link, which can be the same as the link filled in chapter 0.
For the third feedback, just go to the official DC feedback channel to leave a message, copy the message link and fill it into Galaxy.
The series of tasks in Chapter 2 are similar to the above. You also need to fill in the tweet address and DC message address, and then wait for the pledge to be completed to complete all the tasks.
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Chakra's Galaxy Mission phase 1 has ended, you can directly participate in phase 2.
BTC pledge in Phase 2 can be completed directly as long as you follow the tutorial and select Chakra as the Finality Provider when staking. If the pledge quota has been used up, you need to wait for the next test to start.
The above is the entire operation process of the Babylon + Chakra pledge activity, but because Babylon itself has released very few test quotas, even if the second test of Testnet-4 gave 50 BTC quota, it was fully pledged in less than 5 hours.
If you want to participate in this activity, it is recommended to refer to the tutorial first, claim the test coins in advance, wait for the new pledge test to be opened later, and complete the pledge activity as soon as possible.
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