Babylon is currently the largest staking project in the Bitcoin ecosystem. Users can use Babylon to achieve decentralized staking of BTC and unlock staking rewards. Its partner project, Chakra, can securely and efficiently reflect BTC staked through Babylon into any ecosystem, empowering numerous BTC Layer 2 and decentralized applications (DApps). This article will explain the complete operation 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 written by TechFlow.
Table of Contents:
1. Official DC Claim
2. Tomo Wallet Claim
3. Mini Bridge Direct Purchase
II. Staked Tokens
III. Completing the Babylon Galaxy Mission
IV. Completing the Chakra Galaxy Mission
Conclusion
Babylon is currently the largest staking project in the Bitcoin ecosystem. Users can use Babylon to achieve decentralized 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 been gradually increasing, from an initial financing of 8 million US dollars to a financing of 70 million US dollars last month. This indicates that institutions have become more optimistic about the project’s development. Well-known institutions such as Paradigm, Polychain, IDG, and Binance Labs are major investors.
To ensure the security and stability of its staking process, Babylon launched a testnet staking activity before its official launch. Currently, the staking activity for Testnet-4 has completed 2 rounds, but the quota was quickly used up due to the large number of participants.
The official team has updated the information about Testnet-3 this week. This test is expected to start at 5:00 PM on May 19th (GMT+8) and end at 5:00 PM on June 24th. It is unlimited in time and quantity, so users are advised to claim the 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 proof-of-stake and ZK light clients. It can securely and efficiently reflect BTC staked through Babylon into any ecosystem, empowering numerous BTC Layer 2 and decentralized applications (DApps).
With the launch of Testnet-3 for Babylon, Chakra has also simultaneously opened its own Phase 3 test activities, which can be completed together with Babylon’s activities.
To claim test tokens, we need to use the BTC Signet network. Open the OKX wallet and switch the network to BTC Signet, then add the BTC token as shown in the following picture.
Next, copy your wallet address (starting with “tb1p”) and join the Babylon official DC to claim test tokens from the #faucet-signet-btc channel.
Currently, there are many people claiming tokens from the official DC, which may result in failed token transfers. Here are 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. However, in case of high user traffic, claiming may also fail.
If you are unable to claim tokens using the above two methods, you can choose to directly purchase test tokens.
Choose Swap, where we can exchange ETH on the Arbitrum chain for BTC on the BTC Signet network.
Next, enter your wallet address to instantly receive the test tokens, without having to wait for the faucet to be restored in the DC.
Note: Whether you claim tokens or purchase them directly, the current Signet network is congested, resulting in slow transaction confirmation. Based on our test, direct purchases may take about 30 minutes to be confirmed, 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 the method chosen, users can interact with both projects simultaneously. Below, we will demonstrate the staking process directly on 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 the staking.
After a successful stake, open the staking history to view the details of your staking.
When the transaction changes from “pending” to “locked,” it indicates a successful stake. 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 not sufficient to pay for the gas fee and the funds to be staked.
The solution is to wait for the gas fee to decrease or claim more test tokens.
Before completing the Galaxy Mission, if the user has not yet linked the Signet address, they need to complete the linking first.
Open the address above, click on Bitcoin Signet, sign the transaction, and complete the Signet address linking.
After the linking is completed, your Signet address will appear on the page.
There are currently two missions in the Galaxy Mission: the Water Claim mission in Chapter 0, which requires users to fill in the transaction hash. If you purchased tokens directly, you can 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. It can be the same link as the one filled in Chapter 0.
The third feedback mission involves leaving a message 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, then wait for the staking to complete to finish all the missions.
Phase 1 of Chakra’s Galaxy Mission has already ended. You can directly participate in Phase 2.
In Phase 2, as long as you follow the tutorial and choose Chakra as the Finality Provider during staking, you can directly complete the mission. If the staking quota has been used up, you will need to wait for the next test to open.
The above is the complete operation process of the Babylon + Chakra staking activity. However, due to the limited test quota provided by Babylon, the second test of Testnet-4, even with a quota of 50 BTC, 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, so that you can complete the staking activity as soon as possible.
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