In our last post, we dove into how Babylon will work. This week, we’re excited to share more information about our upcoming Settlers Beta.
We’re in the process of completing our first security audit and we plan to begin alpha testing the protocol with our team and investors this week. After alpha, we’ll kick off the Settlers Beta, likely sometime in June.
📃 What to Expect
Settlers will be invited to create the first investment communities (called “Gardens”) in our private beta, similar to how settlers in ancient Babylon established a small village that grew into a bustling civilization.
After creating a Garden, the Gardener will be able to invite up to 100 people to join. They will also be able to assign permissions, enabling the people they invite to deposit capital, suggest investment strategies, and/or vote.
During beta, deposits will be capped at 1,000 ETH per Garden and all Gardens will be private, meaning only whitelisted addresses can join.
🔧 Settler Responsibilities
The purpose of beta is to battle-test the protocol. We can’t do this with a large number of users all at once, so we’ll prioritize sending invites to people based on their contributions to the project in Discord, their investment track record, and their network.
It’s important to note that we expect to encounter issues during beta. The protocol will have undergone a prior security audit, however, no protocol is 100% safe. No one should deposit more than they can afford to lose and we ask that Settlers be open to helping us rapidly improve the protocol.
💰 Why join?
We previously proposed that 50% of $BABL be distributed to the community via a Participation Mining Program utilizing a supply curve, meaning the most $BABL would be distributed in the first quarter. We expect the program to be formalized and initiated by community vote, likely during beta.
In addition to having the opportunity to earn $BABL rewards, Settlers will be able to establish a reputation and claim prime Garden real estate prior to launch, positioning them to attract more capital if they open their Gardens.
⛺ Settle Babylon
We believe crypto is going to be the best-performing asset class over the next two decades. Settlers will be able to help build a better way to invest in this opportunity together, from the ground up.
If you’re interested in becoming one of Babylon’s Settlers, you can sign up for the beta waitlist and learn more on our updated website.
Stay tuned for our litepaper, coming next week. We promise to keep the Code of Hammurabi references to a minimum.
This announcement has been written and published by Babylon Finance, Inc. (“Babylon Finance Inc”). The directors and officers of Babylon Finance, Inc owe fiduciary and contractual duties solely to Babylon Finance Inc’ investors.
BABL confer no information, voting, economic, fiduciary, contract, or other rights against or with respect to the assets or personnel of Babylon Finance Inc. The interests of Babylon Finance Inc and its directors, officers, and investors may differ materially from the interests of BABL holders, protocol users, and other active protocol participants.
Babylon Finance Inc provides no guarantee, commitment, or undertaking to utilize any of its assets, funds, properties or personnel, BABL users, or other Babylon protocol participants. Babylon Finance Inc does not owe and does not intend to assume, any duties or obligations to BABL holders, users, and other protocol participants, other than duties or obligations arising under laws of general application, such as non-waivable torts. Moreover, Babylon Finance Inc has various legal, fiduciary, and contractual obligations that could conflict with the interests of BABL holders, Babylon users, and other Babylon protocol participants.
To the maximum extent permitted by applicable law, all software relating to the Babylon protocol is being provided on an as-is, where-is basis, with no representations or warranties being made to BABL holders, protocol users, or other Babylon protocol participants and with no liability to Babylon Finance Inc or any other person involved in the development of the Babylon protocol. The statements set forth in this announcement also are not intended to be representations, warranties, guarantees, or assumptions of duty or liability of any kind, and Babylon Finance Inc hereby disclaims the foregoing and will not be liable for any damages arising from the use of the Babylon protocol or BABL.
In the event of any conflict or inconsistency between this announcement or any other communication and the terms of any software license involved in the Babylon protocol, the terms of the software license shall govern to the exclusion of this announcement and such other communications.
The forward-looking statements in this announcement are subject to numerous assumptions, risks, and uncertainties that are subject to change over time. Such assumptions, risks, and uncertainties could cause actual results or developments to differ materially from the results and developments anticipated by us. Even if our anticipated results and developments are realized, such results and developments may nevertheless fail to achieve any or all of the expected benefits anticipated by this announcement.
We reserve the right to change the plans, expectations and intentions stated and implied herein at any time and for any reason or no reason, in our sole and absolute discretion, and we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
This announcement is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any interests in Babylon Finance Inc, any Gardens or any other securities.This announcement is not intended to provide legal, financial or investment, or other advice and we recommend that you do not rely on, and do not make any financial or other decision based, on this announcement.