Babylon is launching its Phase-2 testnet, named bbn-test-5, on January 8, 2025, at 9 AM UTC. This phase brings exciting upgrades, including an enhanced staking web app designed to test new features in the Babylon Proof-of-Stake chain.
The testnet aims to improve interoperability and foster collaboration among key protocol participants. The Babylon Phase-2 testnet integrates both Bitcoin PoS stakes and Signet Bitcoin stakes, with a focus on supporting developers, stakers, and participants.
It allows users to register their Phase-1 stakes and explore new functionalities using the upgraded staking web app, which goes live at 10 AM UTC on January 8. The testnet also supports the deployment of permissionless smart contracts, making it a great opportunity for stakers, developers, and wallets to collaborate.
However, it’s important to note that the tokens used in this testnet are simulated and have no monetary value. Additionally, Babylon has partnered with BOB to enhance Bitcoin liquidity in DeFi while maintaining the security of Bitcoin’s blockchain.
To participate, users can access testnet faucets that distribute Signet Bitcoin and tBABY tokens. The faucets will enable users to create new stakes and migrate Phase-1 stakes to Phase-2. The staking app also allows quick unbonding, with times around 16-17 hours.
In another recent development, Binance plans to introduce On-chain Yields with Babylon BTC Staking, enabling users to stake BTC and earn rewards directly on the platform.
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