Babylon is a community-led asset management protocol that enables users to create investment clubs (we call them gardens) and invest in DeFi together. It’s built on the Ethereum network and it’s non-custodial, transparent, permission-less, and governed by the community. BABL is the governance token behind it.
We are relentlessly working to provide our DeFI investment clubs with all the DeFi primitives needed to build wealth together.
Today, we are happy to announce that we have added support for ETH staking through StakeWise, one of the leading Ethereum staking providers.
💰 Staking ETH
StakeWise is an Ethereum 2.0 staking service that offers one of the highest yield for users. They differentiate from other providers by offering a secure and stable banking-grade infrastructure, dual-token model, and low fees.
Currently, StakeWise offers 4.60% APY on ETH.
Now, strategists within Babylon have different options to put their ETH to work. From staking through Lido, StakeWise to Lending through Compound, AAVE, and Fuse pools.
🧙♂️ How to Create a StakeWise strategy
In Babylon, you can combine different primitives from other DeFi protocols to create your own DeFi strategy. No code is required.
Here is a video of how to create a strategy within Babylon:
Here are specific steps to create a strategy that stakes ETH through StakeWise.
- Click on create strategy button within your garden 🌴
- Add a first DeFi Operation : Stake->StakeWise
3. Select stake ETH.
4. Complete all the additional strategy params
🧠 Become a Strategist on Babylon
As a strategist, you would receive up to 10% of the profits (varies per garden) + 10% BABL rewards. More about BABL rewards in the Mining Program.
If you haven’t had a chance to use Babylon yet, please head to the website and take a look. We are still in private Beta but the public launch is imminent (end of March).
㊙️ If you need a beta invite, you may be able to snatch one by asking other members in Discord
#Let’s DeFi Together