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Kraken Integrates with Babylon to Launch Bitcoin Staking Service
Summary: Cryptocurrency exchange Kraken has launched a Bitcoin staking service through a new integration with Babylon, allowing users to directly stake their Bitcoin and lock it in a custody insurance vault on the native chain. The staked Bitcoin will then be delegated to a PoS network through Babylon and rewards will be paid out in BABY ...
Cryptocurrency exchange Kraken has launched a Bitcoin staking service through a new integration with Babylon, allowing users to directly stake their Bitcoin and lock it in a custody insurance vault on the native chain. The staked Bitcoin will then be delegated to a PoS network through Babylon and rewards will be paid out in BABY tokens. The mechanism is entirely on-chain, with staking managed by Bitcoin scripts and cryptographic safeguards to prevent malicious behavior. Users can unstake at any time, with an unbonding period of around 7 days. (CoinDesk)
