Babylon's upcoming staking round, termed 'Cap-2', is set to commence on Tuesday at approximately 18:30 UTC, with users allowed to stake up to 500 BTC per transaction over a duration of 10 Bitcoin blocks.
The first staking round demonstrated significant demand, reaching its cap of 1,000 BTC within just six blocks. This hints at a strong interest in the upcoming Cap-2 round.
Babylon aims to bridge the gap between Bitcoin's deep reserves and the capital needs of proof-of-stake chains, introducing more utility to Bitcoin which has lacked this feature compared to networks like Ethereum.
In May, Babylon attracted notable attention with a $70 million funding round, following an earlier $18 million investment, indicating strong investor confidence in its potential.
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