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Babylonchain is a Bitcoin staking platform built on Cosmos SDK designed to enhance the security of third-party PoS blockchain networks.
It allows users to stake their $BTC in order to power the network shared security mechanism and third-party PoS network in exchange for APR rewards. Unlike other shared security protocols such as EigenLayer, Babylon crypto protocol is also secured by Bitcoin timestamping, which offers PoS chains increased resilience to fork and long-range network attacks.
In March 10, 2023, the company closed a $8M Seed funding round led by IDG and Breyer Capital.