Babylon (BABY)
Rank #345
Market snapshot
- Price
- $0.011162
- Market cap
- $48.1M
- 24h volume
- $6.8M
- Circulating supply
- 4,311,596,769.98
- Total supply
- 10,932,654,907
- Max supply
- N/A
What is Babylon?
Babylon is designed to function as a decentralized finance (DeFi) platform that integrates with Bitcoin. It is set to launch as the first Bitcoin Supercharged Network (BSN), which aims to derive its crypto-economic security directly from Bitcoin. This is facilitated through the Babylon Bitcoin staking protocol, allowing users to stake their Bitcoin to enhance the network's security.
Key information
- Symbol
- BABY
- CMC rank
- #345
- Network / platforms
- N/A
- Categories
- N/A
- Date added
- Jul 15, 2024
Official resources
Risks
Digital asset prices can be volatile and can change materially. Users should verify the contract address and network before transferring assets. Self-custody requires secure private-key and recovery-phrase handling. Centralized platforms can involve operational, custody, and counterparty risk. Availability and regulatory treatment can vary by jurisdiction. Transaction finality and reversibility can differ by network.
Transfer and custody notes
Verify the asset name, network, and the destination details before transferring. Verify destination address and network before sending assets. Review the custody method, including self-custody versus a third-party platform. Understand that transfers may be irreversible and that CoinLoom does not confirm exchange availability.
FAQ
- What is Babylon (BABY)?
- Babylon (BABY) is a cryptocurrency focused on decentralized finance (DeFi) that aims to leverage Bitcoin's security through its staking protocol.
- What are the risks associated with transferring Babylon (BABY)?
- Users should verify the asset and network before transferring assets. Digital asset prices can be volatile, and transfers may be irreversible.
- How can I verify the acquisition of Babylon (BABY)?
- Verify the asset name, network, and the destination details before transferring. Ensure you check the destination address and network.
- Where can I find official resources for Babylon?
- Official resources for Babylon can be found at their website, [Babylon Foundation](http://babylon.foundation), and their technical documentation at [Babylon Labs Documentation](http://docs.babylonlabs.io).
