Babylon is gearing up for the introduction of Testnet-4's Cap 3, which includes a feature for adjusting fees, launching on June 19.
In Brief
Scheduled for release at 9 AM UTC on June 19th, Babylon is rolling out Cap 3 for its Bitcoin Staking Testnet-4.
Bitcoin staking protocol Babylon Babylon is preparing to launch Cap 3 of its Bitcoin Staking Testnet-4, set for 9 AM UTC on June 19.
The cap will run on a timeline, permitting stake submissions for a duration of five days (120 hours), commencing from Signet BTC block height 200,665 at 9 AM UTC on June 19, concluding after processing 720 blocks and reaching block height 201,385 on approximately June 24 around 9 AM UTC.
Additionally, Babylon has highlighted that it has listened to community feedback and included a feature that lets users modify transaction fees in its decentralized application for staking. This allows for better chances of their staking transactions being included in the Signet block.
Stakers Users will have the option to unbond and withdraw their stake whenever they wish within a seven-day timeframe. There’s also a maximum staking duration of about one year and three months, after which stakers can still withdraw their assets.
What Is Babylon?
Babylon Babylon represents a pioneering blockchain initiative focused on developing protocols for sharing security in the decentralized economy. Currently, it is working on important protocols such as the Bitcoin Staking Protocol, Bitcoin Timestamping Protocol, and Bitcoin Data Availability Protocol.
In the previous year, Babylon raised $18 million The project has secured funding from various investors including Polychain Capital and Hack VC through a combination of equity and token warrant rounds to accelerate its development.
Recently, the Web3 wallet Bitget Wallet Babylon has integrated support for Testnet-4 and commenced testnet staking operations via its Earning Center, offering users the chance to earn SBTC rewards while participating in the staking process.
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