Bybit Web3 Launches Babylon Season, Unveiling Deep BTC Liquidity and Staking Opportunities

Bybit Web3, the Web 3 ecosystem by Bybit exchange, has announced the launch of Babylon Season, a revolutionary project that reimagines Web3 accessibility

Web3 ecosystem Bybit Web3 has announced the launch of Babylon Season, a project designed to enhance Web3 accessibility, diversity, and interoperability. This initiative will provide users with the opportunity to leverage novel staking and exchanging mechanisms across EVM and Mantle chains, enabling them to significantly increase their earnings.

Commencing immediately and continuing until September 20, 2024, six leading projects — PumpBTC, Solv, B³ Network, pStake, Bedrock, and Babypie — will be participating in Babylon Season, offering generous incentives as described below:

* PumpBTC will be offering BTC Pump, a unique decentralized exchange (DEX) liquidity boosting product, which provides users with the opportunity to earn BTC rewards for adding liquidity to select BTC pairs on PancakeSwap. Commencing on March 20, users will be able to add liquidity to BTC/USDT, BTC/BNB, BTC/CAKE, and BTC/ALPINE pairs on PancakeSwap and earn BTC rewards.

* Solv will be offering BTC Swaps, a service that enables users to swap BTC between EVM and Mantle chains in a decentralized and trustless manner. Commencing on March 20, users will be able to swap BTC between BNB Chain (BEP2) and Mantle (BMT) chains via Solv Swaps.

* B³ Network will be offering Mantle Staking, a program that allows users to stake B³ Token (B³T) and earn BTC rewards for contributing to the security and decentralization of the Mantle chain. Commencing on March 20, users will be able to stake B³T on Mantle and earn BTC rewards.

* pStake will be offering pSTAKE BTC Staking, a service that enables users to stake BTC and earn stBTC tokens, which can be used to participate in DeFi activities on EVM chains. Commencing on March 20, users will be able to stake BTC on pSTAKE and earn stBTC tokens.

* Bedrock will be offering Bedrock Staking, a program that allows users to stake Bedrock Tokens (BRK) and earn BTC rewards for contributing to the development of the Bedrock protocol. Commencing on March 20, users will be able to stake BRK on Bedrock and earn BTC rewards.

* Babypie will be offering MiniPIE Staking, a service that enables users to stake MiniPIE Tokens (PIE) and earn BTC rewards for contributing to the growth of the Babypie community. Commencing on March 20, users will be able to stake PIE on Babypie and earn BTC rewards.

This partnership between Bybit Web3 and these six projects aims to provide the resources and incentives that digital assets need to reach their full potential. Thanks to an extensive network of partner projects, interoperability across both the EVM and Mantle chains, and plenty of exclusive benefits, Bybit Web3 provides an array of opportunities for yield farmers who want to increase their Bitcoin earnings.

From a decentralized finance (DeFi) point of view, the first native yields on Bitcoin (BTC) are coming from Bitcoin Staking, and this is a significant value proposition, as it could unleash $1.2 trillion+ in idle capital for the entire ecosystem. With this, Babylon Season presents a pivotal moment in introducing BTCfi to the general public. With features like Babylon Points and pSTAKE Points, it guarantees Bybit’s 40 million customers an excellent Bitcoin staking experience on Babylon.