Good news for Bitcoin stakers, Bitcoin staking protocol, Babylon has announced its plan to launch an airdrop as part of its BABY token generation event. The airdrop will transfer 600 million BABY, the native governance token of the Babylon genesis network, to early supporters. Keen to know more about the airdrop? Continue reading the article. 

Babylon Genesis: Project Overview

Babylon Genesis is a Layer 1 blockchain project aimed at enhancing and expanding the Bitcoin ecosystem. By exploring the security features of Bitcoin and integrating it with Proof of Stake (PoS) consensus, Babylon gives Bitcoin holders a staking opportunity, enabling them to gain rewards for their dormant Bitcoin assets. 

Utilizing the Bitcoin’s unspent transaction output (UTXO) model, the project allows Bitcoin holders to maintain the custody of their assets while participating in the staking process. With its unique staking protocol, the project is one step closer to its vision of creating a system that optimizes capital efficiency across the crypto industry. 

Babylon’s native token, BABY, facilitates governance, transaction fees, and network security. The project has revealed the tokenomics of BABY token, of the initial 10 billion capped token supply, 15% is allocated for community rewards, 18% for ecosystem development, 18% for research and development, 30.5% for early investors, 15% for the team, and the remaining 3.5% for advisors.

BABY Token Early Adopters Airdrop: Overview

Babylon Foundation has revealed the BABY token airdrop plan for early users. The airdrop will provide 6% or 600 million BABY tokens to five reward groups and early supporters. Of the 600 million, a vast majority, ie, around 585 million BABY tokens, will be rewarded for those who have staked Bitcoin with Babylon. Users who have participated in the staking process and have not yet registered their address can do so now if they transition their stakes to phase 2. 

The airdrop will be managed and conducted by Cuneiform Assets, a Babylon Foundation company. The airdrop categories that registered for the airdrop before March 25, 2025, will receive the BABY tokens automatically in their wallets at the launch of the Babylon Genesis blockchain, which means no claiming is required. 

BABY Token Airdrop Receiving Categories

The early adopters’ airdrop comprises 5 categories, and the 600 million BABY tokens are allocated among them in different proportions.

1. Staking Participation 

30 million BABY tokens are allocated to eligible stakers who participated in the phase 1 staking, which locked up native Bitcoin tokens through Babylon.

The staking included three caps, and the tokens are distributed among them. 16.5 million BABY are allocated for cap 1 participants, 2.25 million for cap 2 participants, and 11.2 million for cap 3 participants. 

2. Base Staking Reward

335 million, the largest allocation of BABY tokens is allocated for phase 1 stakers and their delegated finality providers. A fixed number of BABY tokens is allocated per BTC block and is shared among all active stakes of that block proportional to their stake size. 

3. Phase 2 Transition

200 million BABY tokens are reserved for users who transfer their phase 1 stakes to phase 2. To receive these tokens, users must remain staked. Only those who register for staking on Babylon Genesis within 4 weeks of the network launch and stake continuously for at least 100 consecutive days will be eligible for the airdrop.

The phase 2 transition airdrop will only be received for those who participated in phase 1 staking. This airdrop will only be received 6 months after the Genesis blockchain launch. 

4. Pioneer Pass NFT Holders

30 million BABY tokens are allocated for pioneer pass NFT holders, and for every NFT held, one will receive 300 BABY tokens. A snapshot of the eligible NFT holders has already been taken, and the unclaimed tokens will be reallocated to the community incentives. 

5. GitHub Contributors

5 million BABY tokens will be rewarded to the GitHub contributors through the airdrop. The snapshot of the eligible participants was taken on February 23rd, and the unclaimed tokens will be reallocated to the community incentives, which will be used as staking rewards later. 

How To Check Airdrop Allocation?

One can check the airdrop allocation by visiting the Cuneiform Asset’s airdrop checker page or API and entering the BABY address. The BABY address for the airdrop will be the same address that stakers used for the phase 2 transition. 

Only the names of stakers who registered their BABY address and signed the Airdrop Terms will appear in the airdrop checker page. If your allocation is not found, it means you have not signed the Airdrop Terms.

Babylon’s Future Airdrop Plans

Babylon’s airdrop for stakers is just the beginning, many more exciting airdrops are on the way. The team has already revealed their plans for social media airdrop, which will reward social media contributors from the first Bitcoin staking cap on 22 August 2024 for activities before 19 February 2025. Detailed information on eligibility and timeline will be announced soon. In addition, the project has launched wallet campaigns and liquid staking incentive airdrops. 

Bottom Line

Airdrops always attract investors, as they give a unique edge to gain free crypto tokens. The BABY token airdrop lets you earn free BABY tokens, which facilitate governance, transaction fees, and security within the Babylon ecosystem. Participate in the BABY token early adopters airdrop and grab your tokens to enhance your crypto portfolio. Remember, airdrops can sometimes turn out as scams; do your own research before participating in any.