Updated 4 Oct 2024 to the maximum amount per staking transaction from previously 0.5 bitcoin to 500 bitcoins.
The second cap of Babylon Bitcoin staking mainnet Phase-1 is scheduled to open on 8 October 2024, around 8PM UTC, with updated parameters.
Details
Duration: Cap-2 will be a duration-based cap that will last 10 BTC blocks, starting from height 864790. This means that all valid Bitcoin staking transactions that are included in BTC block 864790 to 864799 (inclusive) will be accepted by the system, without any TVL cap.
Limits per staking transaction during Cap-2:
The minimum amount per transaction is still 0.005 bitcoins.
The maximum amount per transaction is increased from 0.05 bitcoins in Cap-1 to 500 bitcoins.
Unbonding transaction fee: The unbonding transaction fee for stakes accepted during Cap-2 will be set to 0.00032 bitcoins, which is a 50% reduction compared to Cap-1 stakes.
Points per BTC block: Starting from BTC block 864790, the number of points per BTC block will increase from 3125 to 10000. The 10000 points will be allocated proportionally among all active stakes (from all caps) within that block. Points may not be available in your jurisdiction. For more information, please refer to our Terms of Use.
Overflow: Bitcoin staking transactions included in BTC block 864800 and all the blocks onwards will be labelled as overflow. Overflow stakes are not accepted by the system and will not accrue any points. Overflow stakes from Cap-1 will not be included in Cap-2, either. All overflow stakes should be unbonded and withdrawn.
All other Phase-1 parameters, requirements, legal notes remain the same. Please kindly refer to Babylon Labs - Babylon Bitcoin Staking Mainnet Launch: Phase-1 for more information about the Phase-1 and Cap-1 launches.
