Upcoming Network Closures (July 2024)

<p><strong>Babylon is a Bitcoin Staking Protocol that allows Bitcoin holders to stake their BTC, providing security for different PoS systems. </strong>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&nbsp;to integrate with Babylon can use it to secure their networks with Bitcoin, the world’s most valuable crypto asset.<br><br>To understand it better, please read our previous article on BTC staking with Babylon:</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://p2p.org/economy/what-is-bitcoin-staking/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">What is Bitcoin Staking?</div><div class="kg-bookmark-description">Introducing Babylon 1. The Problem Bitcoin is the most prominent and valuable cryptocurrency in the world. However, it lacks mechanisms for holders to earn passive income, similar to PoS networks such as Ethereum, leading to millions of idle Bitcoins. The evolving blockchain landscape, especially Proof-of-Stake chains, demands consistent security and</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://p2p.org/economy/content/images/2020/09/favicon.ico" alt><span class="kg-bookmark-author">P2P.org Blog: Insights, Guides, and News</span><span class="kg-bookmark-publisher">Kamil Jakub Natil</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://p2p.org/economy/content/images/2024/05/BTC-20staking-202.jpg" alt></div></a></figure><p><br>In previous blog posts, we discussed Bitcoin Staking and how Babylon provides non-custodial staking of BTC:</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://p2p.org/economy/understanding-non-custodial-staking-on-the-babylon/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Understanding Non-Custodial Staking on the Babylon</div><div class="kg-bookmark-description">What is Babylon? Babylon is a revolutionary staking protocol that allows Bitcoin holders to provide their BTC assets to secure PoS systems and receive a yield on their assets. The idea of BTC staking is relatively new and needs further explanation. When discussing BTC staking, many people associate it with</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://p2p.org/economy/content/images/2020/09/favicon.ico" alt><span class="kg-bookmark-author">P2P.org Blog: Insights, Guides, and News</span><span class="kg-bookmark-publisher">Kamil Jakub Natil</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://p2p.org/economy/content/images/2024/05/Babylon.jpg" alt></div></a></figure><p><br>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.</p><h3 id="babylons-key-components">Babylon's key components</h3><p>As we discussed, <strong>Babylon leverages BTC to provide shared security, making it a reliable source of security for various PoS systems</strong>. But how does it achieve this?</p><p>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.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/06/pos-1.jpg" class="kg-image" alt loading="lazy" width="2000" height="1159" srcset="https://p2p.org/economy/content/images/size/w600/2024/06/pos-1.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/06/pos-1.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/06/pos-1.jpg 1600w, https://p2p.org/economy/content/images/2024/06/pos-1.jpg 2000w" sizes="(min-width: 720px) 720px"></figure><p></p><p>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.<br></p><div class="kg-card kg-callout-card kg-callout-card-grey"><div class="kg-callout-text">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.</div></div><p><br>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.</p><p><strong>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.</strong></p><h3 id="cosmos-as-a-first-stop">Cosmos as a First Stop</h3><p>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.</p><p>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.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/06/a3.jpg" class="kg-image" alt loading="lazy" width="2000" height="1159" srcset="https://p2p.org/economy/content/images/size/w600/2024/06/a3.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/06/a3.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/06/a3.jpg 1600w, https://p2p.org/economy/content/images/2024/06/a3.jpg 2000w" sizes="(min-width: 720px) 720px"></figure><p></p><p>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.<br></p><h3 id="other-ecosystems-are-welcomed">Other Ecosystems Are Welcomed</h3><p>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.</p><p>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.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/06/a2.jpg" class="kg-image" alt loading="lazy" width="2000" height="2000" srcset="https://p2p.org/economy/content/images/size/w600/2024/06/a2.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/06/a2.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/06/a2.jpg 1600w, https://p2p.org/economy/content/images/2024/06/a2.jpg 2000w" sizes="(min-width: 720px) 720px"></figure><p>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. <br></p><h2 id="how-to-participate">How to Participate?</h2><p>If you're interested in participating in the launch of Babylon, we recommend two main directions for involvement:</p><ol><li><strong>Testnet Participation:</strong><br>Engage with the Babylon testnet by staking your SignetBTC directly on Babylon's <a href="https://btcstaking.testnet.babylonchain.io/?ref=p2p.org"><u>official website</u></a>. This allows you to familiarize yourself with the platform's features and functionalities without risking real assets.</li><li><strong>Support for Large Bitcoin Holders:</strong><br>If you hold significant Bitcoin, <strong>don't hesitate to contact our team</strong>. We can provide tailored validator solutions that will be optimal for you when the mainnet launches. (<a href="mailto:[email protected]" rel="noreferrer">Person of contact</a>)</li></ol><div class="kg-card kg-button-card kg-align-center"><a href="mailto:[email protected]" class="kg-btn kg-btn-accent">Email Us!</a></div><p><br><br>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 </p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a>&nbsp;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.</p><hr><p>Do not hesitate to ask questions in our&nbsp;<a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a>&nbsp;chat or contact Alik via&nbsp;<a href="mailto:[email protected]" rel="noreferrer">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong>&nbsp;<a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Twitter:</strong>&nbsp;<a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong>&nbsp;<a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>

<p>We are excited to announce a <strong>significant update to our Polkadot Staking API</strong>, which was made possible by the dedicated efforts of our Staking API team.<br><br>In the rapidly evolving world of Web3, <strong>intermediaries like custodians, exchanges, wallets, and institutional investors are constantly seeking ways to optimize their services and provide superior value to their clients.</strong></p><div class="kg-card kg-callout-card kg-callout-card-blue"><div class="kg-callout-text">At P2P.org, we understand the critical role these intermediaries (for example, custodians, wallets, exchanges, and institutional investors) play in the ecosystem, and we are committed to offering solutions that enhance their operational efficiency and client offerings.</div></div><p>Our Staking API enables seamless integration and management of staking operations for Polkadot.</p><h3 id="why-choose-p2porgs-polkadot-staking-api"><strong>Why Choose P2P.org's Polkadot Staking API?</strong></h3><p>Our Staking API is tailored for businesses leveraging Polkadot's staking capabilities to enhance their service portfolio.<br><br>Here's how it can benefit your organization:</p><ol><li><strong>Streamlined Integration</strong>: Easily integrate staking functionalities into your existing systems with minimal effort, ensuring a smooth user experience for your clients. This saves you time and resources. It also enables you to integrate other networks to offer your clients various products effortlessly.</li><li><strong>Enhanced Security</strong>: Benefit from robust security features that protect your assets and ensure compliance with industry standards.</li><li><strong>Scalability</strong>: Our API supports high volumes of transactions, making it ideal for large-scale operations.</li><li><strong>Expert Support</strong>: Access our dedicated support team, which is ready to assist you with any technical challenges and ensure your integration is successful.</li><li><strong>Revenue Sharing</strong>: Benefit from a revenue-sharing model that aligns with your business goals, ensuring a mutually beneficial partnership.</li></ol><p>On top of that, our new Polkadot Staking API enhancements significantly increase the network rewards with P2P.org compared to the industry average. You can see it from this chart (check the <a href="https://dune.com/substrate/polkadot-staking?ref=p2p.org" rel="noreferrer">Dune Staking Dashboard for Polkadot and look for pools ID: 189 and 238</a>):</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/06/high-reward-polka-GRAPH-1.jpg" class="kg-image" alt loading="lazy" width="1978" height="1225" srcset="https://p2p.org/economy/content/images/size/w600/2024/06/high-reward-polka-GRAPH-1.jpg 600w, https://p2p.org/economy/content/images/size/w1000/2024/06/high-reward-polka-GRAPH-1.jpg 1000w, https://p2p.org/economy/content/images/size/w1600/2024/06/high-reward-polka-GRAPH-1.jpg 1600w, https://p2p.org/economy/content/images/2024/06/high-reward-polka-GRAPH-1.jpg 1978w" sizes="(min-width: 720px) 720px"></figure><p><strong>By enabling Nomination Pools staking via Staking API</strong>,<strong> we lowered the entry barrier for your Clients: Staking is</strong> <strong>now available starting from just 1 DOT</strong>. Before, the previous requirement was to stake at least 100K. This makes it accessible to a broader range of users.<br><br>This update provides much-needed flexibility and opportunities for our partners and clients. We believe it will foster new partnerships and help our existing partners grow their staking activities quickly and efficiently.</p><h3 id="how-does-the-integration-work"><strong>How does the Integration Work?</strong></h3><p>Our Staking API is designed to be intuitive and easy to implement. Here's a brief overview of the process:</p><ol><li><strong>Integration</strong>: Use <a href="https://docs.p2p.org/docs/staking-polkadot-public?ref=p2p.org" rel="noreferrer">our step-by-step documentation</a> and support resources to integrate the API into your platform easily. Approximate ETA: 3 days!</li><li><strong>On-demand support</strong>: Our integration team is ready to support you with any questions and doubts to lead to a successful integration</li><li><strong>Staking</strong>: Get your first stake and enjoy!</li></ol><h3 id="case-study"><strong>Case Study</strong></h3><p>Consider a scenario in which the CEO of a financial services company is seeking new revenue streams and ways to enhance client satisfaction. By integrating P2P.org's Staking API directly into their platform, the company can achieve several key objectives:</p><ol><li><strong>Operational Efficiency</strong>: By integrating our Staking API, the company can streamline staking operations, reducing manual effort and increasing reliability.</li><li><strong>Competitive Advantage</strong>: Our API optimizes the staking process, resulting in higher protocol rewards than other solutions (see the chart above: Our integration has historically provided higher staking rewards over the same period than others.). This positions the company as a leader in the market, providing an unparalleled staking experience that attracts more clients.</li><li><strong>Client Satisfaction</strong>: Thanks to reliable performance, your client satisfaction improves significantly. Our service boasts a 99% uptime SLA, ensuring that clients can stake their assets with confidence and reliability. The seamless staking experience and the promise of higher staking rewards ensure clients are more engaged and satisfied with the services.</li></ol><p>Contact us today to learn more about how our API can benefit your organization.</p><h3 id="person-of-contact">Person of contact:</h3><p>Polkadot Staking: <a href="mailto:[email protected]" rel="noreferrer">Alexander Tishin&nbsp;</a><br>Staking API integration: <a href="mailto:[email protected]" rel="noreferrer">Alessandro Maci</a><br><br>Let's continue to innovate and achieve great things together!</p><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a>&nbsp;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 Polkadot/Kusama network since the beginning.</p><hr><p>Do not hesitate to ask questions in our&nbsp;<a href="https://t.me/P2Pstaking?ref=p2p.org">Telegram</a>&nbsp;chat or contact Alex via&nbsp;<a href="mailto:[email protected]">[email protected]</a>. We are always open to communication.</p><hr><p><strong>Web:</strong>&nbsp;<a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Stake DOT with us:</strong>&nbsp;<a href="https://p2p.org/polkadot?ref=p2p.org">https://p2p.org/polkadot</a></p><p><strong>Twitter:</strong>&nbsp;<a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong>&nbsp;<a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a><br><br></p>