The third cap of Babylon Bitcoin staking mainnet Phase-1 is scheduled to open on 10th December, 2024, around 11AM UTC, with updated parameters.
Details
Duration: Cap-3 will be a duration-based cap that will last 1,000 BTC blocks (roughly 1 week). This means that all valid Bitcoin staking transactions that are included in this window will be accepted by the protocol, without any TVL cap. The exact block heights will be announced 3 days ahead of the opening.
Limits per staking transaction:
The minimum amount per transaction is still 0.005 bitcoins.
The maximum amount per transaction is increased from 500 bitcoins in Cap-2 to 5,000 bitcoins.
Unbonding transaction fee: The unbonding transaction fee for stakes accepted during Cap-3 is still 0.00032 bitcoins.
Points per BTC block: A pioneering innovation for this cap -
For the first 300 BTC blocks of this cap, the number of points per BTC block will be set to 100,000.
For the remaining 700 BTC blocks of this cap, and all the BTC blocks afterwards until further notice, the number of points per BTC block will be set to 21,000.
The points per BTC block will be allocated proportionally among all active stakes (from all caps) within that block.
Legal Note: points are not available in many jurisdictions including the U.S.A. Points are not, and may never convert to, accrue to, be used as basis to calculate, or become any tokens or other digital assets. Points are virtual items with no monetary value. Points do not constitute any currency or property of any type and are not redeemable, refundable, or eligible for any fiat or virtual currency or anything else of value. Points are not transferable, and you may not attempt to sell, trade, or transfer any points, or obtain any manner of credit
