Babylon (BAB)
Last updated
Last updated
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For the Phase 1 mainnet, the Stake App will only support BTC staking via OKX Wallet. Install the OKX wallet browser extension and deposit your BTC before proceeding to the next step.
IMPORTANT NOTES
Out of all the hardware wallets, only Keystone is currently supported.
Do NOT use a Ledger device. These devices do not yet have the ability to craft the redeem transaction once the timelock ends.
Do NOT use a wallet that holds any Bitcoin Inscriptions.
Choose either Native Segwit or Taproot format.
Navigate to the Kiln’s BTC Staking Interface. The direct link will be:
Connect your wallet. If you’re visiting the website for the first time, you will need to sign the signature request to get your wallet connected.
Input the amount of BTC you want to stake. During Babylon Phase 1, you have the option to stake between 0.005 and 0.05 BTC per transaction.
Select or switch the address format in your wallet.
Next you can choose to keep the current network fee or prioritize your delegation by increasing the transaction fee. Reminder: The cap for phase 1 will fill very quickly (around 20 - 40 mins). The higher you set your fee, the higher the likelihood your BTC will be staked to the next block, before the cap is filled.
If your stake arrives after the cap is filled, then it will be in the “overflow” status and you will need to unbond and withdraw your BTC.
Finalize the staking process by clicking “Stake” and confirm the transaction in your wallet.
Congratulations you have successfully staked your BTC to Babylon via Kiln’s Finality Provider. You can now track your staked position via the Staking Terminal.
Kiln
053107172a3d5a2715754cd5793efdcf5e54364b855ed2305819e372aa685d76
Kiln
b08ef538aca95b0ed788ff1c6ecbcca92eb06f0c136b15b99318db47361e7956
Stake activation time
Instant
Stake lock-up time
10 days
Auto-compounding
No
Rewards frequency
TBD
Self-bond
No
Active set
TBD
Slashing
Yes, In the event of a safety violation, 1/3 of the Bitcoin stake is guaranteed to be slashed.
Relationship between validator stake balance and rewards
Linear. The more stake balance there is on the validator, the more rewards it will earn.
How to stake via a UI?
Please visit this guide which points to the Babylon dApp which enables you to stake by connecting a wallet.
How to integrate staking into a wallet/custodian solution?
In order to stake BTC on Babylon you need to initiate a staking transaction on the Bitcoin blockchain. The components of these transactions are: 1. The Finality Provider information: You will specify which Finality Provider (Validator) you are delegation your staked assets to. 2. A Timelock Transaction: You lock your coins for a specific amount of time. After that amount of time has passed, the coins can be instantly redeemed. 3. Slashing transaction: You pre-sign a transaction that will slash some of your staked coins if an only if your Finality Provider double-signs when securing consumer chains. Please see the wallet integration guide here.
Can I keep staking/unstaking from/to the same wallet?
You can not add to your existing stake position. If you want to stake more, it will have to be through a different position.
Can I select how much of my wallet balance I want to stake?
Yes.
Can I unstake part of the staked balance?
That functionality is not allowed by the protocol for now.
When can I withdraw my staked BTC?
Either - After redemption, at the end of the timelock period you have set when you initiated the staking action. Funds will instantly be withdrawn. - After you initiate an "unbonding" transaction, which will withdraw your BTC after 10 days.
