Babylon

Babylon is a decentralized finance application built on its own chain, Babylon Genesis, that sits within the liquid staking and LSDFi categories. It aims to let holders of proof-of-work assets, most notably Bitcoin, put those assets to work as economic security for other networks without giving up custody. The intended users are people who want their otherwise idle proof-of-work holdings to contribute to the security of proof-of-stake systems.

Babylon Genesis is the settlement layer on which the protocol operates; the block time recorded in the data is zero, reflecting that the underlying chain details are not stored rather than that no chain exists. The BABY token functions within this ecosystem and represents roughly 39.5 percent of a supply that has no stated maximum, with approximately 153 percent of the current circulating supply still pending issuance. Token holders interact with staking and liquid-staking mechanics that are native to the Babylon Genesis chain.

Over the trailing 12 months the protocol collected 1,024.09 USD in fees, and over the trailing 30 days it collected 26.05 USD, with fees falling 9.37 percent over that 30-day window. The annualized fee rate extrapolated from the trailing 30 days stands at 316.94 USD. Revenue to the protocol itself was 0.00 USD over both the most recent 24-hour period and the trailing 30 days, and 0.00 USD over the trailing 12 months, meaning the protocol currently retains none of the fees generated. The fee yield, expressed as annualized fees relative to market capitalization, is 0.000594 percent, a figure that reflects how small the fee base is relative to the 55,622,122 USD market capitalization.