Babylon will launch the first phase of Bitcoin staking mainnet next week, with an initial total staking limit of 1,000

BlockBeats news, on August 17, Bitcoin staking protocol Babylon published a post on X, saying that the first phase of the Bitcoin staking mainnet will be launched next week, and Bitcoin holders can start locking BTC for staking. The protocol will be launched in three phases:

Phase 1: Bitcoin locking, users can lock their Bitcoin in a secure self-custody script through Bitcoin transactions;

Phase 2: Activate Bitcoin staking and start the Babylon PoS chain;

Phase 3: Bitcoin multi-staking activation, allowing users to stake the same Bitcoin in multiple PoS systems at the same time.

The initial total staking limit is 1,000 Bitcoins. The limit will be relaxed as the first phase progresses. In Phase 1, the maximum staking time is 64,000 Bitcoin blocks, which is about 15 months. The staker can unstake at any time before the stake expires, and there will be an unbinding period of 1008 Bitcoin blocks on the chain (approximately 7 days), after which the stake will expire and can be withdrawn.