Babylon’s Stellar Highlights from Cosmoverse 2023
Cosmoverse has come to a close, and what an electrifying few days it’s been for all involved, especially for us at Babylon! Here’s a roundup of Babylon’s most memorable moments at the event.
Fisher Yu’s Enlightening Talks
Firstly, Fisher Yu, the co-founder and CTO of Babylon, took to the stage with a captivating keynote. While diving deep into the nuances of blockchain, the issues at hand, and the paradigm shifts we’re all keenly expecting, his address was also dedicated to the landmark unveiling of Babylon’s Bitcoin Staking Protocol MVP.
Babylon’s groundbreaking move aims to convert the dormant potential of 21 million BTC into a decentralized staking force for the Proof of Stake economy. According to data from Glassnode, a staggering 66% of Bitcoin’s circulating supply has remained dormant for over a year.
Fortunately, through our protocol, Babylon will help unlock the latent potential of these idle Bitcoins to boost the security of PoS chains and dApps reliant on staking, reshaping our perception and use of Bitcoin. The Bitcoin Staking Protocol tackles the PoS ecosystem’s reliance on native assets for security, offering the option to stake Bitcoin instead, capitalizing on its status as a major store of value while reducing inflationary pressures.
Babylon’s protocol doesn’t just leverage these idle bitcoins; it reinvents them as a robust security layer for PoS chains. This allows any Bitcoin holder to reap staking rewards from various PoS chains, propelling Bitcoin’s versatile utility far beyond its primary role as a store of value. Following the grand unveiling of the MVP, which provides an intuitive platform for Bitcoin holders to test Bitcoin staking, Babylon will focus on gaining adoption across different ecosystems.
But that wasn’t all from Fisher! He was also a panelist in the “Shared Security Panel”. His insights and extensive knowledge were abundantly clear as he contributed to the discussions, which can be revisited here.
BTC Staking MVP’s Live Demo
Our booth saw a continuous flow of interested attendees thanks to the showcasing of our groundbreaking BTC Staking MVP. Those who got a firsthand experience of the demo were buzzing with excitement about its potential.
Recognition at Cosmoverse
Another monumental highlight for Babylon at Cosmoverse was receiving the “Most Represented Community” award. Voted for by the community, this award is a testament to the incredible support and faith our supporters have placed in us. We couldn’t be more appreciative.
Babylon’s Generous Gesture
Aligned with our commitment to fostering growth within the community, Babylon proudly sponsored a 1 Million Satoshi cheque. The image of this giant cheque being handed over created quite the stir, embodying our ethos of ‘giving back’.
Extensive Press Coverage
Our recent press release also took Web3 journalists by storm! Several long-standing and respected publications generously shared our progress and vision. Here are some notable mentions:
- CoinDesk’s coverage
- CryptoDaily’s article
- An in-depth feature by BitcoinInsider
- Benzinga’s take on our latest unveiling
- And, the renowned Nasdaq’s article about tapping into dormant BTC
All in all, Cosmoverse 2023 has been a landmark event for Babylon. Our journey continues with even more passion, strengthened by the support and recognition from our community and the industry. Stay tuned for more exciting developments from the world of Babylon!