Babylon Airdrop Guide: How To Receive $BABY With Lorenzo Protocol
It’s almost time, Lorenzo Nation!
The Babylon airdrop is coming soon — follow the official Babylon X account for timeline updates.
Now, it’s vital that everyone completes the necessary steps to ensure accurate points calculation and that $BABY tokens can be claimed.
For everyone who has been earning Lorenzo points by participating in our Cap-1, 2, and 3 events, this guide will provide all the details that you need to know in order to successfully claim your $BABY tokens.
We will cover:
- How to create your $BABY wallet
- The revamped Lorenzo Rewards Center
- Steps to complete to ensure you can receive your $BABY from Lorenzo
- Airdrop preparation deadline and distribution
- Risk warnings
- FAQs
Let’s get started!
How To Create a $BABY Wallet
All users must create a $BABY wallet because Babylon will send the $BABY tokens directly to Lorenzo, since we staked on your behalf. To receive your airdrop, you’ll need to provide a $BABY wallet address, as $BABY tokens can only be distributed to $BABY wallets. We’ll handle the final distribution, but you’ll need to set up your wallet and share the address with us.
$BABY tokens will be airdropped to $BABY wallet addresses, so you must create a $BABY wallet address and then provide it to Lorenzo (more info on this later in the blog) so that we can distribute your airdrop.
Please Note: you do not need to complete Babylon airdrop registration on the dedicated Babylon site — https://airdrop.babylon.foundation/
To receive your airdrop through Lorenzo, you only need to create a $BABY wallet and then follow the additional Lorenzo-specific steps, outlined later in this guide.
Follow this guide to create your $BABY address — https://babylon.foundation/docs/wallet-compatibilities
Read the Babylon registration announcement blog for additional information.
Revamped Lorenzo Rewards Center
We have launched upgrades to our dApp Rewards Center for users to complete Lorenzo Protocol-specific airdrop preparation steps after they’ve created their $BABY wallet.
These steps, similar to other LSTs, will ensure that we can correctly calculate and distribute your rewards.
Before the deadline, only your Cap-1 and Cap-2 Babylon Points will be viewable.
Once data is confirmed (pending internal Lorenzo team processes) after the deadline to complete the airdrop preparation steps, users will also be able to view their total Babylon Points and $BABY token allocations in the Rewards Center.
Airdrop Preparation Steps To Complete
- $BABY tokens will not be airdropped to EVM addresses. In order to successfully receive your reward, please provide your $BABY address to Lorenzo so we can send the airdrop accordingly.
- Binding your address ensures you can receive your entitled $BABY tokens safely and efficiently. It verifies your identity and prevents unauthorized claims, safeguarding the distribution process.
- So long as you use the same wallet for yBBN1, yBBN2, and stBTC, completing the binding process is only required once, and will apply to each asset. If you manage multiple Lorenzo accounts (wallets), you will need to complete binding for each account.
To begin binding your $BABY address, visit the Lorenzo staking dApp and connect your wallet (either Sui or EVM chain) to sign in to your account to begin — https://app.lorenzo-protocol.xyz/staking
You may connect up to two wallets simultaneously.
Then, click the profile icon to visit the Personal Center:
Click the “My Rewards” tab.
Here, you can view your yBBN1, yBBN2, and stBTC holdings, as well as your Babylon Points.
Now, click “Bind Now!”.
Then, input your $BABY address. On this page, you will also be able to view the required yBBN1 and yBBN2 transfers (if applicable to your account). These transfers are irreversible and will be executed as you complete wallet address binding.
Transferring yBBN1 and yBBN2 tokens back to Lorenzo is a necessary step in order to:
- Prevent users from transferring tokens to multiple addresses to claim rewards multiple times.
- Finalize the amount of $BABY tokens you are eligible to receive
- Ensure fair distribution of the airdrop to all participants
Carefully review the information, and then click “Confirm Address Binding”.
Please Note:
- Address binding is permanent and can not be changed after confirmation.
- During the transfer and authorization process, there may be multiple wallet signature confirmations. Please carefully check the signature content and ensure a secure network environment to avoid hacker attacks.
Now, again, carefully review the address binding details.
At the bottom of the page, you’ll see a helpful “Expected Outcome” section that summarizes the intended outcomes of the transactions.
Most users who participated in Cap-1 and Cap-2 will have already minted and claimed yBBN1 and yBBN2 tokens. However, there are still some users who pledged funds but did not mint/claim yBBN1 and yBBN2. For those users, our system will detect unclaimed tokens and a claim button will be displayed.
If you see the “Mint/Claim Remaining yBBN” button, click it to claim the tokens. You will be taken back to the initial page, where you will see the “Claim” button next to your tokens.
Once all tokens are claimed, click “Confirm and Proceed” and execute the transactions through your wallet.
Congratulations!
Your $BABY airdrop is now confirmed and no further actions are required.
Rare Special Case:
If you intentionally did not transfer yBBN1 and yBBN2 during the wallet-binding process, you may click the “Transfer All yBBN1 & yBBN2” button located in the “My Rewards” tab of your portfolio page.
Airdrop Preparation Deadline
The deadline to complete all airdrop preparation steps and avoid rewards loss is block height 891,376.
As a reference point, block height 891,376 is estimated to occur at (UTC) 2025/4/7 23:59:59.
Please note that the Bitcoin block generation time may deviate from the 10-minute average due to fluctuations in miner computing power or network congestion, resulting in certain fluctuations in actual height
To ensure that you do not miss the deadline, we recommend completing airdrop preparation steps at least 24 hours in advance of the estimated deadline of (UTC) 2025/4/7 23:59:59.
Upon the arrival of this deadline, a snapshot will be taken to calculate rewards (Babylon Points and $BABY token allocations) based on your yBBN1, yBBN2, and stBTC holdings. Any changes to your holdings after this block height will not be considered for the airdrop.
You must complete the preparation operations before the block height deadline to avoid missing the airdrop rewards!
Distribution
After the airdrop preparation deadline, the Lorenzo team will start to finalize the calculation of user points and confirm $BABY token allocations. Then, the Babylon team will airdrop $BABY tokens to Lorenzo, which we will start to airdrop to users.
Cap-1 & Cap-2 rewards — Issued according to yBBN1 & yBBN2 tokens held.
Cap-3 rewards — There is not a yBBN3 YAT. Cap-3 rewards are issued according to the amount of stBTC users hold on EVM chains and Sui wallets, or are using in EVM/Sui DeFi protocols/dApps.
Risk Warnings
The irreversibility of asset transfers — Lorenzo users must transfer their yBBN1 and yBBN2 to Lorenzo. Once any asset transfer operation is completed, it cannot be undone. Please confirm carefully before executing transfers. Misoperations could lead to asset loss.
Risk of loss of airdrop eligibility — Failure to complete $BABY airdrop preparation steps before the deadline will result in a failure to obtain airdrop rewards.
Review signatures — Approving and transferring yBBN1 & yBBN2 requires multiple wallet signatures. Users should carefully review each signing request and ensure they are in a secure environment to avoid being targeted by hackers.
FAQs
What are yBBN1 and yBBN2 tokens and how do they work?
yBBN1 and yBBN2 are tokens issued by Lorenzo representing rewards from BTC staking during Babylon’s Phase-1, Cap-1, and Cap-2. They serve as claim tickets for future benefits based on your staking contributions.
Important: Transfer all yBBN1 & yBBN2 before the deadline. Rewards are calculated solely on transferred amounts. No rewards for late transfers. You are responsible for any losses.
How are my Cap3 Babylon Rewards calculated?
Your Cap3 rewards are calculated based on all your stBTC holdings, including both direct wallet holdings and deposits in DeFi protocols.
I’ve deposited my stBTC in a DeFi protocol. Will I still receive rewards?
Yes. We support two distribution methods to ensure all users receive their fair Cap3 rewards share:
- Direct User Distribution: For protocols where we can track individual deposits, rewards are sent directly to your wallet.
- Protocol-Level Distribution: For protocols where individual tracking is technically limited, we allocate rewards to the protocol, which then distributes to users based on their internal records.
How will I receive my $BABY tokens?
Once the distribution phase begins, the system will automatically send $BABY tokens to your bound Babylon address. You don’t need to manually claim them.
Is there a deadline for address binding?
Yes, there is a binding deadline displayed as a countdown timer on the binding page, along with the corresponding block height information. The deadline is block height 891,376, estimated to occur at (UTC) 2025/4/7 23:59:59.
What happens if I miss the binding deadline?
If you don’t complete the address binding process before the deadline, you will lose your eligibility for this $BABY distribution round.
**For more detailed FAQs, please visit the Lorenzo Rewards Center.
We want all of our community members to smoothly receive their $BABY airdrop and will do everything we can to help your process be as smooth and stress-free as possible.
If you have any questions or need assistance, please visit our Discord server or Telegram support channel and contact a team member.
