🫀 The Heart of Babylon- Epoch 2
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.
In February, we released The Heart of Babylon, a supercharged staking mechanic for all BABL holders. Today, the first epoch has ended. We are going to recap how the heart works, analyze the results and provide the details for the next one.
🫀Beat by Beat
To recap, 🫀The Heart of Babylon is a garden that receives BABL as deposits and will give depositors the garden shares or hBABL. The heart gets 100% of the protocol fees and BABL from stakers and recharges them every week with a pump transaction.
💪 🌴 hBABL is a super garden token that includes 10 + 1 different mechanics inspired by the very best of DeFi and synthesized together to provide value to BABL holders and Babylon users alike.
The following diagram explains all the mechanics.
🗒 Epoch 1 Results
In these last two months, the heart has achieved the following:
- 2.5x capacity increase. From 20K to 50k.
- 150% BABL APR even with the capacity increases.
- Free on-chain governance voting for BABL stakers.
Every week, the fees collected from the protocol are put to work through the pump transaction. The heart emitted 8 Pump transactions that resulted in:
- 1.2K BABL Purchased.
- $32K added to BABL-ETH liquidity on Univ3.
- $27K added liquidity to our Fuse Pool.
- $22k reinvested in gardens -> Fountain of ETH, Stable & Arkad.
- $13K added to the treasury.
At the same time, all the BABL deposited was put to work in three different strategies. All these strategies lend BABL on the Babylon Fuse Pool and use borrowing to generate yield that eventually gets transformed into more BABL.
- One strategy borrowed ETH and staked it using Lido. It generated a total of 1.3K BABL including profits and rewards.
- Another strategy, borrowed DAI and entered the crv Frax pool staking the LP tokens into yearn. It generated 1.5K BABL.
- Finally, the last short strategy borrowed FEI and entered the crv MIM pool and staked the LP tokens in Pickle. It generated a total of 630 BABL.
All combined, the strategies generated 3.5k BABL for BABL stakers.
💪 Epoch 2 Details
The target APR will be the same at 150%.
The next epoch will begin on Sunday, April 10th, and last until June 10th.
Withdrawals are now open until April 10th. If you want to keep your BABL staked, you don’t need to do any transaction (gas savings 🔥) and your BABL will be automatically staked for the next epoch.
During this epoch, now you can also take advantage of the 🎟 Heart Bonding Program to receive additional discounts.
🌴 Join Babylon
If you want to stake BABL into the heart, please head here👇
We are building Babylon to help people access the best opportunities in crypto through native DeFi investment clubs or gardens. You can now invest along with others, save on gas, speed up your learning and minimize your transactions all at once.
Here are some of the top-performing gardens in Babylon:
⛲️ The Fountain of ETH. Deposit ETH and grow it using staking and lending strategies.
💲The Stable Garden. Deposit and grow your DAI with yield farming strategies.
🫀The Heart of Babylon. Stake your BABL, reinvest protocol fees and vote on governance for free.
You can visit Babylon here.
Join our Discord to become part of Babylon.
