Babylon is a Bitcoin Staking Protocol that allows Bitcoin holders to stake their BTC, providing security for different PoS systems. As a result, BTC holders can gain rewards on their capital in the tokens of PoS systems they support. On the other hand, different blockchains or DA layers that decide to integrate with Babylon can use it to secure their networks with Bitcoin, the world’s most valuable crypto asset.
To understand it better, please read our previous article on BTC staking with Babylon:
Today, we will look at Babylon from another angle, show how Babylon is achieving universality on a scale, and show how significant Babylon's impact can become on the blockchain industry and different PoS systems because of its flexible architecture.
Babylon's key components
As we discussed, Babylon leverages BTC to provide shared security, making it a reliable source of security for various PoS systems. But how does it achieve this?
Babylon introduces the role of Finality Providers, who receive delegations of BTC from Bitcoin holders. Finality Providers are additional validators that can participate in the block validation process. The largest blockchain validators, including P2P.org, will be Finality Providers in Babylon.
After receiving the BTC delegation, Finality Providers can participate in the block verification process. If they act maliciously, for example, by double signing, the portion of Bitcoins delegated by stakers can be slashed. Slashing can be technically achieved because of the EOTS signature that Finality Providers use to validate blocks. When Finality Providers double sign, their private key is leaked, which allows the broadcast of a pre-approved slashing transaction that was created when the user staked the tokens.
Babylon’s design is elegant and flexible. It adds additional finality rounds to blockchains operated by Finality Providers. This means that PoS systems, which have their own consensus mechanisms and validators, can add an extra level of verification supported by a set of Finality Providers who provide BTC as a slashable asset.
This set of Finality Providers can improve security and make the blockchain more decentralized. Decentralization is crucial for any blockchain to be secure and sustainable, but not all blockchains boast about it. Additionally, finding and maintaining a stack of validators is a resource-intensive process.
Babylon acts as a shared security marketplace that brings together Finality Providers, who offer shared security, and PoS systems, which receive it in exchange for rewards.
Cosmos as a First Stop
Babylon plans to focus on the Cosmos SDK blockchains and the Babylon PoS chain itself as the first PoS systems. Like other chains built on CometBFT, the Babylon PoS chain will have a set of validators that validate blocks and broadcast them to other nodes. Validators in Cosmos use the native tokens of these chains as security collateral. If they act maliciously, the portion delegated tokens can be slashed.
However, when integrated with Babylon, Cosmos SDK chains add an additional finality round that provides extra security through Finality Providers. As shown in the diagram, these Finality Providers become an additional step in the block path, creating a more secure block verification process.
If Cosmos SDK chains decide to work with Babylon and receive additional security, they must reward Finality Providers to attract them. This creates a marketplace where Finality Providers offer security, and blockchains reward them.
Other Ecosystems Are Welcomed
One of the most exciting aspects of Babylon's plan is its focus on PoS systems outside of the Cosmos ecosystem. From Babylon's announcements, we know that Babylon plans to integrate its Bitcoin Staking Protocol to provide shared security to Bitcoin L2s, AltLayer rollups, standalone chains, and more.
The reality is that the additional round of finality after the protocol has finalized a block can be added to different consensus protocols, not just CometBFT. Babylon's general approach can open the doors to providing security for various blockchain ecosystems and allow Babylon to build a shared security marketplace, where PoS systems from different ecosystems can interact with finality providers and receive security from them.
When speaking about Babylon, we should always keep in mind that Babylon's impact can be much more significant than we think right now. This is achieved through its architecture and the vast amount of BTC collateral that can be used. In the long run, this shared security model can lead to a more secure and resilient blockchain environment. As more PoS systems join the Babylon, the collective security and stability of the entire ecosystem improve.
How to Participate?
If you're interested in participating in the launch of Babylon, we recommend two main directions for involvement:
Testnet Participation: Engage with the Babylon testnet by staking your SignetBTC directly on Babylon's official website. This allows you to familiarize yourself with the platform's features and functionalities without risking real assets.
Support for Large Bitcoin Holders: If you hold significant Bitcoin, don't hesitate to contact our team. We can provide tailored validator solutions that will be optimal for you when the mainnet launches. (Person of contact)
The Babylon Testnet-4 has already been launched, and the mainnet launch is anticipated by the end of the first half of the year. This new testnet focuses on the security of staked Bitcoins by testing user interactions with the BTC Signet test network. The Babylon team is actively monitoring updates and feedback from the community to ensure the network's
About P2P Validator
P2P Validator is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. We have actively participated in the Babylon Chain activities since the beginning.
Do not hesitate to ask questions in our Telegram chat or contact Alik via [email protected]. We are always open to communication.
<p><em>Staking GRT (Graph Tokens) is a fantastic way to participate in the growth of The Graph network while earning rewards. Whether you're new to cryptocurrency or a seasoned investor, this guide will walk you through the process of delegating your GRT tokens step-by-step.</em></p><h2 id="what-is-the-graph"><strong>What is The Graph?</strong></h2><p><strong>The Graph is a decentralized protocol for indexing and querying data from blockchains.</strong> It allows developers to build and query decentralized applications (dApps) quickly and efficiently. The Graph network relies on a decentralized community of indexers, curators, and delegators to operate.</p><h2 id="why-delegate-grt-tokens"><strong>Why Delegate GRT Tokens?</strong></h2><p>As a GRT token holder, <strong>you can delegate your tokens to indexers and earn a portion of the rewards they generate.</strong></p><p>Delegating GRT tokens helps secure the network and ensures its efficient operation. In return, you receive a share of the rewards earned by the indexers. It's a way to earn passive income from your GRT holdings without needing to run your own node or perform technical operations.</p><h2 id="step-by-step-guide-to-delegate-grt-tokens"><strong>Step-by-Step Guide to Delegate GRT Tokens</strong></h2><p>To help you get started, we've prepared a comprehensive video tutorial that walks you through each step of the delegation process. Watch the video below for a visual guide, and then follow the detailed instructions provided in this article.</p>
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<p></p><h3 id="step-1-connect-your-wallet"><strong>Step 1: Connect Your Wallet</strong></h3><p><strong>Connect Your Wallet</strong>: Click on the "Connect Wallet" button. Select your wallet type (MetaMask, WalletConnect, or Ledger) and follow the prompts to connect your wallet to the site.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled.png" class="kg-image" alt="Untitled" loading="lazy" width="2000" height="539" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled.png 2000w" sizes="(min-width: 720px) 720px"></figure><p><strong>Go to The Graph’s Website</strong>: Visit the official Graph Network website (<a href="https://thegraph.com/explorer?ref=p2p.org">https://thegraph.com/explorer</a>).</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-2.png" class="kg-image" alt="Untitled" loading="lazy" width="2000" height="996" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-2.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-2.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-2.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-2.png 2000w" sizes="(min-width: 720px) 720px"></figure><p></p><h3 id="step-2-choose-one-of-the-p2p-indexer"><strong>Step 2: Choose One of The P2P Indexer</strong></h3><p><strong>Locate Our Indexer</strong>: P2P has two active indexers, you can either search <code>p2p</code> within the indexers or visit one below:</p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-text">* p2p-org-booster.eth - <a href="https://thegraph.com/explorer/profile/0xf00f7157fa8fd0420b87956d46058a16b2f23adc?view=Indexing&chain=arbitrum-one&ref=p2p.org" rel="noopener noreferrer">0xf00f7157fa8fd0420b87956d46058a16b2f23adc</a><br><br>* p2p-org-arbitrum.eth - <a href="https://thegraph.com/explorer/profile/0x2f09092aacd80196fc984908c5a9a7ab3ee4f1ce?view=Indexing&chain=arbitrum-one&ref=p2p.org" rel="noopener noreferrer">0x2f09092aacd80196fc984908c5a9a7ab3ee4f1ce</a></div></div><p></p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-3.png" class="kg-image" alt loading="lazy" width="2000" height="736" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-3.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-3.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-3.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-3.png 2000w" sizes="(min-width: 720px) 720px"></figure><p><strong>Review Our Metrics</strong>: Check the performance metrics and reward rates associated with our indexer. Our commitment to excellence ensures competitive rewards and reliable service.</p><p><strong>Select Our Indexer</strong>: Click on our indexer’s profile to see more details and proceed with delegation.</p><p></p><h3 id="step-3-delegate-your-grt-tokens"><strong>Step 3: Delegate Your GRT Tokens</strong></h3><p><strong>Initiate Delegation:</strong> On our indexer’s profile, click the “Delegate” button.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-4.png" class="kg-image" alt loading="lazy" width="2000" height="1642" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-4.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-4.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-4.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-4.png 2000w" sizes="(min-width: 720px) 720px"></figure><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">You will be required to pay 0.5% GRT deposit tax.</div></div><p></p><p><strong>Enter Amount:</strong> Specify the amount of GRT tokens you want to delegate. Make sure you leave some GRT in your wallet to cover potential transaction fees. You will be required to pay 0.5% GRT deposit tax.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-5.png" class="kg-image" alt loading="lazy" width="2000" height="1732" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-5.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-5.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-5.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-5.png 2000w" sizes="(min-width: 720px) 720px"></figure><p><strong>Approve Transaction</strong>: Approve the transaction in your wallet. This step allows the staking contract to access your GRT tokens.</p><p><strong>Confirm Delegation</strong>: After the approval, confirm the delegation transaction. Pay the necessary gas fees to complete the process.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-6.png" class="kg-image" alt loading="lazy" width="2000" height="1402" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-6.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-6.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-6.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-6.png 2000w" sizes="(min-width: 720px) 720px"></figure><p></p><h3 id="step-4-monitor-your-delegation"><strong>Step 4: Monitor Your Delegation</strong></h3><p><strong>Track Performance</strong>: You can monitor the performance of your delegation on the staking dashboard. It will show you the rewards you’ve earned and other relevant metrics.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/07/Untitled-7.png" class="kg-image" alt loading="lazy" width="2000" height="2033" srcset="https://p2p.org/economy/content/images/size/w600/2024/07/Untitled-7.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/07/Untitled-7.png 1000w, https://p2p.org/economy/content/images/size/w1600/2024/07/Untitled-7.png 1600w, https://p2p.org/economy/content/images/2024/07/Untitled-7.png 2000w" sizes="(min-width: 720px) 720px"></figure><p><strong>Un-delegate</strong>: If you wish to un-delegate your tokens, you can do so from the dashboard. Note that un-delegating may have a 28-days cooldown period before your tokens become available again.</p><div class="kg-card kg-callout-card kg-callout-card-grey"><div class="kg-callout-emoji">💡</div><div class="kg-callout-text">Rewards are automatically added to staked deposit and paid when the indexer closes allocation. <b><strong style="white-space: pre-wrap;">There is no slashing for delegators on The Graph.</strong></b> The Graph GRT unbonding period lasts 28 days.</div></div><p></p><h2 id="tips-for-successful-delegation"><strong>Tips for Successful Delegation</strong></h2><p><strong>Stay Informed</strong>: Keep up with news and updates from The Graph network to make informed decisions about your delegations.</p><p><strong>Be Patient</strong>: Staking and delegating are long-term strategies. Give your investments time to grow.</p><p>By following this guide and choosing P2P indexer, you'll be well on your way to successfully delegating your GRT tokens and participating in The Graph network. Enjoy earning rewards while contributing to the future of decentralized applications!</p><h2 id="about-p2p-validator"><strong>About P2P Validator</strong></h2><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. </p><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a><br><br>Our team is here via our official Telegram channel if you have any questions or support. </p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>
<p>In line with our commitment to deliver the best staking opportunities, <strong>we will no longer support the following networks from July 17, 2024</strong>:<br></p><ul><li>Evmos ($EVMOS, <a href="https://twitter.com/EvmosOrg?ref=p2p.org" rel="noreferrer">@EvmosOrg</a>)</li><li>Persistence ($XPRT, <a href="https://twitter.com/PersistenceOne?ref=p2p.org" rel="noreferrer">@PersistenceOne</a>)</li><li>Archway ($ARCH, <a href="https://twitter.com/archwayHQ?ref=p2p.org" rel="noreferrer">@archwayHQ</a>)</li><li>KYVE ($KYVE, <a href="https://twitter.com/KYVENetwork?ref=p2p.org" rel="noreferrer">@KYVENetwork</a>)</li><li>Mars Hub ($MARS, <a href="https://twitter.com/mars_protocol?ref=p2p.org" rel="noreferrer">@mars_protocol</a>)</li><li>Marlin ($POND, <a href="https://x.com/MarlinProtocol?ref=p2p.org" rel="noopener noreferrer">@MarlinProtocol</a>)</li></ul><p><br><a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a> remains dedicated to supporting other decentralized networks by providing our users with premium validator services and next-level support. <br><br><strong>Action Required for Token Holders:</strong><br>For those who have stakes in these networks through <a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a> or any other means, here's what you need to know:</p><ul><li><strong>Redelegation</strong>: This action is usually instant for most networks. Once you initiate redelegation, your stake will seamlessly transfer to another validator.</li><li><strong>Unstaking</strong>: This step has an <strong>unbonding duration</strong>, which varies by network. Please ensure an early start to complete this process successfully.</li></ul><p><strong>Failure to act by the 17th July deadline will halt further reward generation.</strong> P2P.ORG's dedication to innovation, enhancing user experience, and community partnerships remain our priority through every decision. <br>We sincerely appreciate your flexibility during this transition.<br><br>Our team is here via our official Telegram channel if you have any questions or support. <br><br><a href="https://t.me/P2Pstaking**?ref=p2p.org">https://t.me/P2Pstaking</a>.<br><br><strong>About P2P Validator</strong></p><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a> is a world-leading non-custodial staking provider, securing over $7 billion from over 10,000 delegators/nominators across 40+ high-class networks. </p><p><strong>Web:</strong> <a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong> <a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong> <a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a><br></p>
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