Babylon Genesis officially launched, supporting Bitcoin staking and integrating multi platform support

According to Foresight News, the L1 public chain Babylon Genesis, protected by Bitcoin, has officially launched. The launch of Babylon Genesis marks the completion of the second phase of the three-stage launch plan. Bitcoin holders can now pledge assets to provide security and liquidity support for other decentralized networks, while receiving returns without giving up their autonomous custody rights over Bitcoin throughout the process. The three core functions of Babylon Genesis include a Bitcoin Protected Network (BSN), coordinating the interaction between other Bitcoin Protected Networks (BSNs) and the Bitcoin mainnet, and implementing secure custody of Bitcoin liquidity through on chain applications. In addition, Binance Wallet, OKX Wallet, UniSat, and Xverse will support Bitcoin staking from the first day. The annual inflation rate in Babylon Genesis' token economy model is 8%, with half allocated to Bitcoin stakers and the other half allocated to BABY token stakers. Token allocation focuses on long-term development. The tokens of investors, teams, and advisors are set for a 4-year unlocking period, and the first year does not allow locking tokens to participate in staking.