Announcing Babylon Foundation's Delegation Program

Babylon Foundation is proud to announce the Babylon blockchain built on Cosmos (“Babylon Chain”) Delegation Program.

This program is designed to support high quality infrastructure providers while ensuring a robust and decentralized consensus for Babylon Chain. 

Overview

The Babylon Bitcoin staking protocol enables bitcoin holders to connect with Bitcoin Secured Networks (BSNs) within the Babylon ecosystem, allowing those BSNs to meet their demands for network security.

The protocol is bootstrapped in 3 phases. Phase-1 kicked off the supply side, and Bitcoin holders gained the ability to stake their BTC using a secure, self-custodial Bitcoin staking script directly on the Bitcoin network. Phase-2 will see the launch of Babylon Chain as the first BSN along with the marketplace, and phase-3 will enable multi-staking and BSN integration.

Phase-1 launched in August 2024 and accumulated just over 57K BTC (equalling a total value locked of around $6.1 billion) across three caps. Phase-2 is right around the corner and so Babylon Chain BFT validators are more than welcome to join.

Objective

The Foundation Delegation Program is being launched to accelerate the growth of Bitcoin staking and BSNs.

This program invites reputable validators to participate in a clear and fair application process, securing early access to delegation opportunities and contributing to the security of the Babylon ecosystem.

Learn how to get involved below.

Foundation delegation process

Apply for the Delegation

Validators interested in Foundation support are encouraged to apply for delegation through the application form before the deadline of January 31, 2025. For Babylon Chain, the active set consists of 100 validators, with 50% eligible to receive Foundation delegation from the program. The application form gathers key information about validators’ experience, qualifications, and alignment with Babylon Foundation’s vision.

Any submissions and supplementary materials received after the deadline will not be considered. Please ensure that your submission is as accurate as possible. Babylon Foundation will evaluate your submission in a holistic way.

Please note that providing false information in the application form may lead to disqualification from the Foundation delegation program.

Eligibility Criteria

To participate in Babylon Foundation’s Delegation Program, validators must meet specific criteria that reflect their reliability, contributions, and commitment to Bitcoin staking, as well as their support for both the supply and PoS ecosystem adoption.

1. Infrastructure Reliability and Professionalism: Validators with demonstrated reliability, professionalism, and high technical standards, proven through performance on the Babylon testnet, will be prioritized.
2. Public Goods Contributor: Contributions to public goods, such as explorers, developer tools, wallet infrastructure, or bug bounties will be taken into account. 
3. Active Community Supporter: Creation of meaningful educational content or hosting Babylon-focused events, either in-person or virtual is a plus. Efforts that contribute to geographical diversity and broader regional coverage are particularly encouraged.
4. BTC Delegations: BTC delegations as a Finality Provider in the mainnet Phase 1 will be measured. Finality Providers who helped secure BTC delegations in Phase 1 will receive a higher grading.

Delegation Period and Renewal

A tiered delegation structure will be created based on the validator’s submission. The delegation amount may vary, while the delegation duration is 6 months for each cohort, with extensions for outstanding performance in areas such as uptime and governance.

Ineligibility Criteria

The following conditions disqualify validators from participating in Babylon Foundation’s Delegation Program.

• Validators are restricted from participation in the delegation program if they also operate exclusively as Liquid Staking Token (LST) protocols.
• You might also be ineligible based on your jurisdiction – the excluded countries list includes United States of America, Canada, Australia, as well the countries to which the United States, the United Kingdom, the European Union or any of its member states or the United Nations or any of its member states embargoes goods or imposes sanctions.

Undelegation Criteria

To maintain network integrity and resilience, certain criteria may trigger an undelegation of tokens from validators under the following conditions:

• Validators with voting power exceeds 10% of the Babylon Chain are subject to undelegation.

Apply Now to Join Babylon Foundation’s Delegation Program

Secure your spot as a trusted Babylon validator and contribute to the future of Bitcoin staking and BSNs. Applications close on January 31, 2025—don’t miss this opportunity to gain early access to delegation support and help shape the Babylon ecosystem.

👉 Submit Your Application Here

The results will be sent to the provided contact email and also published through an announcement.

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