Babylon is currently the largest staking project in the Bitcoin ecosystem, allowing users to decentralize staking of BTC and unlock staking rewards. Its collaborative project, Chakra, enables the safe and efficient reflection of BTC staked through Babylon into any ecosystem, empowering various BTC Layer 2 and decentralized applications (DApps). This article will explain the complete operational process of the Babylon + Chakra staking activity. This article is sourced from an article written by Crush, a core contributor to Biteye, and compiled, translated, and authored by TechFlow.
(Table of Contents:
1. Official DC Claim
2. Tomo Wallet Claim
3. Mini Bridge Direct Purchase
II. Staking Tokens
III. Completing Babylon Galaxy Missions
IV. Completing Chakra Galaxy Missions
Conclusion
Babylon is currently the largest staking project in the Bitcoin ecosystem, allowing users to decentralize staking of BTC and unlock staking rewards. Babylon innovatively extracts security from the Bitcoin chain and extends this security to other PoS chains, such as Cosmos, Binance Smart Chain, Polygon, and other public chains, which is the source of its staking rewards.
The financing amount of Babylon has gradually increased, from an initial $8 million financing to $70 million financing last month. This indicates that institutions have increasingly positive views on the development of this project. Prominent institutions such as Paradigm, Polychain, IDG, and Binance Labs are its main investors.
To ensure the security and stability of its staking process, Babylon initiated a staking activity on the testnet before the official launch. Currently, the staking activity for testnet – 4 has completed two rounds, but due to the large number of participants, the quota was quickly used up.
The official team has updated the information about testnet 3 this week. This test will last from May 19th, 5 p.m. (UTC+8) to June 24th, 5 p.m. (UTC+8), with no time limit and unlimited quota. Users are advised to claim their test tokens in advance. In this tutorial, we will combine another re-staking project based on Babylon, Chakra, to achieve dual benefits.
Chakra is an official collaborative project of Babylon. It is based on ZK-STARK staking proof and ZK lightweight client, which can safely and efficiently reflect BTC staked through Babylon into any ecosystem, empowering various BTC Layer 2 and decentralized applications (DApps).
With the opening of Babylon’s third test, Chakra has also simultaneously opened its own testnet phase 3 activity, which can be completed together with Babylon’s activity.
To claim test tokens, we need to use the BTC Signet network. Open the OKX Wallet, switch the network to BTC Signet, and then add BTC tokens as shown in the figure below.
Next, copy your wallet address (starting with “tb1p”) and join the Babylon official DC to claim test tokens in the “#faucet-signet-btc” channel.
Currently, the number of participants claiming from the official DC is high, which may result in failed token transfers. Here, we provide two additional methods for claiming tokens for your reference.
Users need to install the Tomo Wallet, enter the wallet address, and wait for about 10 minutes to receive 0.0007 BTC test tokens. In case of a large number of users, claiming may also fail.
If neither of the above methods can be used to claim tokens, you can choose to directly purchase test tokens.
Select “Swap”, here we can exchange ETH on the Arbitrum chain for BTC on the BTC Signet network.
Then enter the wallet address to instantly receive the test tokens, without having to wait for the faucet to be repaired in the DC.
Note: Whether it is claiming or direct purchase, due to the current congestion on the Signet network, the speed of transfer is very slow. It may take about 30 minutes for a direct purchase to be credited, so please be patient.
Users can stake Signet Bitcoin on the testnet in two ways:
1. Stake directly on the Chakra Staking dApp
2. Stake on the Babylon Staking dApp and select Chakra as the Finality Provider
Regardless of which method is used, users can interact with both projects at the same time. Below, we will demonstrate the method of staking through the Babylon official interface.
Open the staking URL above, select Chakra as the Finality Provider, enter the staking amount (0.0005 to 0.05 sBTC), and proceed with staking.
After successful staking, open the staking history to view the details of your staking.
When the transaction changes to “locked”, it indicates that the staking was successful. The entire confirmation process may take up to 1 hour, so please be patient.
If the above error interface appears, it means that the gas fee is currently high and your balance is insufficient to pay for the gas fee and the funds to be staked.
The solution is to wait for the gas to decrease or claim more test tokens.
Before completing the Galaxy mission, if users have not bound their signet address, they need to complete the binding process first.
Open the above address, click on Bitcoin Signet, sign it, and complete the signet address binding.
After the binding is completed, your signet address will appear on the page.
There are currently two missions in the Galaxy: the water claim mission in Chapter 0, which requires users to fill in the transaction hash. If you purchased directly, fill in the transaction hash from the purchase as well.
The second mission is to like and quote the latest tweet and fill in the link, which can be the same link as filled in Chapter 0.
The third feedback mission can be directly left in the official DC’s feedback channel. Copy the message link and fill it in the Galaxy.
The series of missions in Chapter 2 are similar to the above. Fill in the tweet address and DC message address, and then wait for the staking to complete to complete all the missions.
Chakra’s phase 1 of the Galaxy mission has ended, and you can directly participate in phase 2.
In phase 2, staking BTC can be directly completed if Chakra is selected as the Finality Provider during staking. If the staking quota has been used up, you will need to wait for the next test to open.
The above is the complete operational process of the Babylon + Chakra staking activity. However, due to the limited test quota provided by Babylon itself, even with the 50 BTC quota for testnet – 4, it was filled within less than 5 hours.
If you want to participate in this activity, it is recommended to refer to the tutorial, claim test tokens in advance, and wait for the next staking test to be opened to complete the staking activity as soon as possible.
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