Posted 12/7/2023, 2:00:00 PM
Babylon Raises $18M to Turn Bitcoin into a Staking Asset Across Chains
- Babylon raised $18M led by Polychain Capital and Hack VC to advance its BTC staking protocol
- Babylon is a marketplace allowing BTC to be used for proof-of-stake staking on other chains
- The funding will advance development of Babylon's staking protocol
- The project aims to convert all 21M BTC into a decentralized staking asset
- Other investors include Framework Ventures, Polygon Ventures, Castle Island, OKX Ventures, Finality Capital, Breyer Capital, and Symbolic Capital