Babylon Cap 3 is Live: Stake Your Bitcoin (BTC) with Chorus One

TL;DR:

• Phase-1 cap 3 will go live at around 11:00 UTC on 10 Dec 2024 and will be a time-duration based cap (roughly 1 week).
• The max deposit limit per transaction for cap 3 will be 5000 BTC.
• Staking during Phase-1 involves locking your BTC to Babylon's self-custodial staking script.
• Track your BTC staking position via the Staking Terminal
• How to stake BTC in a nutshell:
  - Step 1: Go to the Bitcoin Stake App and connect your wallet, supported wallets include OKX Wallet, UniSat, Leather, Phantom, Magic Eden, Fordefi & OneKey.
  - Step 2: Enter the staking details, including the amount of BTC, provider, and transaction fee.
  - Step 3: Finalize the staking process by clicking “Stake” and confirm the transaction in your wallet.

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The wait is over! Babylon BTC staking goes live today, December 10, at BTC block 874,088 (around 11:00 UTC). With this new cap, Bitcoin holders can now stake their BTC seamlessly and earn rewards while contributing to the evolution of the Bitcoin ecosystem.

Cap 3 introduces new limits and features that make this staking opportunity both exciting and accessible:

• 🌟 Start Block: 874,088
• ⏳ Duration: 1,000 BTC blocks (~1 week)
• 🔒 Minimum Stake Per Transaction: 0.005 BTC
• 🔓 Maximum Stake Per Transaction: 5,000 BTC
• 🏆 Rewards:
  • First 300 BTC blocks: 100,000 points per block
  • Remaining 700 BTC blocks: 21,000 points per block

Chorus One is proud to support Babylon as a trusted and experienced Finality Provider, ensuring a smooth and reliable staking experience for the Bitcoin community.

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How to Stake BTC with Babylon via Chorus One

Ready to stake? Follow this step-by-step guide to get started:

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Step 1: Prepare Your Wallet

Make sure your Bitcoin wallet is ready before staking goes live. Staking Rewards supported wallets include:

Browser Wallets:

• OKX Wallet
• UniSat
• Leather
• Phantom
• Magic Eden
• Fordefi (select UniSat in the wallet selector)

Hardware Wallets:

• OneKey
• Keystone

👉 Note: When setting up your wallet, follow these guidelines:

1. Avoid using hardware wallets like Ledger unless Keystone QR code support is enabled.
2. Do not use wallets holding Bitcoin Inscriptions.
3. Use Native SegWit or Taproot address formats.

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Step 2: Stake Your Bitcoin

1. Go to the Staking Interface:
Visit the Chorus One BTC Staking Dashboard.

2. Connect Your Wallet:
Select your wallet and sign the signature request to connect.

3. Enter Your Staking Amount:
Input the amount of BTC to stake (between 0.005 BTC and 5,000 BTC per transaction).

4. Set Transaction Fees:
Choose your preferred transaction fee. To increase your chances of staking before the cap fills, prioritize your transaction with a higher fee.

5. Confirm the Transaction:
Click “Stake” and confirm the transaction in your wallet.

6. Track Your Position:
Monitor your staked BTC via the Staking Terminal.

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How to Unstake Your BTC

Unstaking is straightforward:

1. Submit an Unbonding Transaction: The unbonding period is 1,008 BTC blocks (~7 days).

2. Withdraw Your BTC: Once the unbonding period is complete, withdraw your BTC via the Staking Terminal.

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Why Stake BTC with Babylon and Chorus One?

Cap 3 Highlights:
Cap 3 represents a significant step forward for the Bitcoin community, enabling BTC holders to participate in staking while earning competitive rewards. It’s an innovative approach that combines the stability of Bitcoin with modern staking solutions.

Chorus One’s Expertise:
As a leading institutional staking provider, Chorus One has been at the forefront of blockchain innovation since 2018. With over $3 billion in assets secured across 60+ Proof-of-Stake networks, our enterprise-grade infrastructure and track record ensure a seamless staking experience.

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Don’t Miss Out!

Prepare your wallet today and join the staking revolution. For detailed instructions, check out the updated staking guide: How to Stake Bitcoin with Babylon.

Stake now with Chorus One: Stake BTC with Babylon.

Let’s shape the future of Bitcoin staking together.

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About Chorus One

Chorus One is one of the largest institutional staking providers globally, operating infrastructure for over 60 Proof-of-Stake (PoS) networks, including Ethereum, Cosmos, Solana, Avalanche, Near, and others. Since 2018, we have been at the forefront of the PoS industry, offering easy-to-use, enterprise-grade staking solutions, conducting industry-leading research, and investing in innovative protocols through Chorus One Ventures. As an ISO 27001 certified provider, Chorus One also offers slashing and double-signing insurance to its institutional clients. For more information, visit chorus.one or follow us on LinkedIn, X (formerly Twitter), and Telegram.