The crypto ecosystem is constantly evolving, bringing new opportunities for users. This week, one of the major stories comes from Bitrue, which is set to launch the Babylon $BABY token and hold a deposit contest.
What are the details, and what benefits will users receive? Read this article to find out!
Get to Know about Babylon $BABY
Before we discuss the launch of the $BABY token on Bitrue, let’s get to know Babylon first. The $BABY token is the native cryptocurrency of Babylon Genesis, which is the inaugural token of the Bitcoin Secured Network (BSN). This network is specifically designed to protect and manage various blockchain systems. The $BABY token has four main utilities: Governance, Network Security, Transaction Utility, and Rewards and Incentives.
Governance
Later, Babylon token holders can be involved in forming the direction of the protocol, which means users have a voice in the network.
Network Security
Babylon token holders also support validator operations and maintain consensus.
Transaction Utility
Babylon tokens will later be used to pay network transaction fees.
Rewards and Incentives
$BABY tokens will later be distributed as staking rewards to $BABY and $BTC token stakers while promoting active participants in the network.
These four utilities demonstrate that networks built from this segment of Bitcoin will also incorporate smart contracts and staking, features that were previously absent in Bitcoin. As a result, users can feel assured that staking on the Babylon network is both safe and trustworthy.
Babylon Airdrop Program
In a post from the official Babylon Foundation account (@bbn_foundation), Babylon will conduct a $BABY token airdrop event as part of the Phase 1 transition. This airdrop program will be available to stakers during Phase 1.
A total of 6% of the Babylon supply, which amounts to 600 million BABY tokens, will be allocated for the Babylon airdrop program. The airdrop will be distributed alongside the launch of the Babylon Genesis blockchain. There are five categories for the Babylon airdrop program, which are as follows:
Stake Participation Airdrop
In this category, 30 million BABY tokens will be allocated for stakers who meet the requirements. There are three types of prize recipients in this category:
- Cap 1 participants with a total of 550 $BABY tokens received. In this first type, a total of 16.5 million BABY tokens were distributed.
- Cap 2 participants with a total of 150 BABY tokens with a total of 2.25 million BABY tokens
- Cap 3 participants with a total of 100 BABY tokens for each participant and a total of 11.2 BABY tokens distributed.
Base Staking Reward Airdrop
Bonus Staking Reward Airdrop for Phase 2 Transition
The third category consists of 200 million BABY tokens that will be distributed to eligible recipients. Active stakers on March 31, 2025 will receive an airdrop bonus in addition to the second category if they successfully transition to Phase 2.
To receive this bonus, users must continue staking, register to stake on Babylon Genesis within 4 weeks of Network Launch, and continue staking for at least 100 consecutive days after registration.
Pioneer Pass NFT holders
The fourth category is aimed at NFT Pioneer Pass holders with a BABY token count of 30 million. Each holder will receive 300 BABY tokens per NFT. The block that will be taken as a requirement is Polygon 68305555.
GitHub Developer Recognition Program
A total of 5 million $BABY tokens will be distributed to users in this fifth category. A snapshot was taken at 8 AM UTC on February 23rd. If there are not enough eligible users, the tokens will be returned to the community allocation.
Babylon $BABY Launch on Bitrue: Coming Soon
Babylon will be launched on Bitrue on April 10, 2025. Many programs, such as launchpoo, staking, and power piggy, will provide benefits for Bitrue users.
In order not to miss the events that Bitrue will hold before or during the Babylon listing, you can immediately register as a Bitrue user. Later, you will join the community and become a targeting Bitrue core user who will receive the latest information.
This Press Release has also been published on VRITIMES
