Discover the hot crypto update: Babylon’s $BABY token launches on Bitrue with staking rewards and airdrop events! Learn about its utilities, token distribution, and how to benefit from the Babylon Protocol.
There is always something new in the crypto ecosystem and of course, this new thing will provide benefits for users. One of the hot crypto news this week comes from Bitrue which will launch the Babylon $BABY token and hold a deposit contest.
How are the details? And what are the benefits that users will get? Read this article until the end.
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Get to Know about Babylon $BABY
Before discussing the launch of the $BABY token on Bitrue, let’s get to know Babylon first. The $BABY token is a native crypto from Babylon Genesis where the first token of the Bitcoin Secured Network or BSN.
So, the network was indeed built to protect and manage other blockchain systems. The $BABY token utilities have 4 main things: Governance, Network Security, Transaction Utility, and Reward and Incestives.
- 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.
- Reward & Incestives: $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 prove that even networks built from this part of Bitcoin will also rely on smart contracts and staking which were previously not owned by Bitcoin.
That way, users don’t need to worry because when staking on the Babylon network, it is definitely safe and trustworthy.
Babylon Airdrop Program
In a post from the official Babylon Foundation account (@bbn_foundation), Babylon will hold a $BABY token airdrop event as part of the Phase 1 transition. This Babylon airdrop program will be given to stakers in Phase 1.
6% of the total Babylon supply, or 600 million BABY tokens, will be distributed for this Babylon airdrop program. Later, the airdrop will be distributed along with the launch of the Babylon Genesis blockchain. There are 5 categories for the Babylon airdrop program, namely:
- 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
There is a total of 335 million $BABY distributed in this second category. Every eligible staker will receive a fixed BABY token allocated per BTC block. For more details, you can see the following table.
- 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
There are total of 5 million $BABY tokens to 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. The exact date has not been announced yet and will be announced soon through Bitrue’s official website and social media accounts. 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.
About Bitrue
Bitrue is a leading cryptocurrency exchange, offering a wide range of digital assets, innovative features, and user-focused services. Founded with the mission to empower the world’s crypto enthusiasts, Bitrue continues to expand its platform with new products, events, and opportunities for users worldwide.
This press release has also been published on VRITIMES
