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docs/guides/overview/babylon_genesis.mdx

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@@ -12,25 +12,25 @@ import ThemedImage from '@theme/ThemedImage';
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## Introduction
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Babylon Genesis is the first Bitcoin Secured Network (BSN) to leverage Bitcoin's security
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and serves as the control plane for security and liquidity orchestration for future BSNs.
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Built on the Cosmos SDK framework, Babylon Genesis introduces key innovations for enhanced
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PoS security and interoperability, unlocking Bitcoin's potential beyond its traditional role
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Babylon Genesis is the first Bitcoin Secured Network (BSN) to leverage Bitcoin's security
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and serves as the control plane for security and liquidity orchestration for future BSNs.
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Built on the Cosmos SDK framework, Babylon Genesis introduces key innovations for enhanced
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PoS security and interoperability, unlocking Bitcoin's potential beyond its traditional role
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as a store of value.
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## Consensus & Security Model
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Babylon Genesis introduces a multi-staked CometBFT (Tendermint) consensus mechanism:
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1. **Bitcoin Staked**: BTC holders can stake their assets directly on the Bitcoin network
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in a self-custodial manner without wrapping or bridging. These BTC stakers delegate to a
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1. **Bitcoin Staked**: BTC holders can stake their assets directly on the Bitcoin network
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in a self-custodial manner without wrapping or bridging. These BTC stakers delegate to a
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Finality Provider who enhances the security of the Proof-of-Stake (PoS) chain.
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2. **BABY Staked**: BABY token stakers delegate to CometBFT validators who oversee block
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2. **BABY Staked**: BABY token stakers delegate to CometBFT validators who oversee block
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production and consensus operations.
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This dual approach combines Bitcoin's security with Cosmos's flexibility, creating a
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robust and interoperable blockchain ecosystem.
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This dual approach combines Bitcoin's security with Cosmos's flexibility, creating a
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robust and interoperable blockchain ecosystem.
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## Bitcoin Timestamping & Checkpointing
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Just as ancient Babylon was a vibrant center for trade, culture, and innovation, Babylon Genesis aims to unlock the best of Bitcoin security, liquidity, and community, extending it to the wider web3 ecosystem.
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## Features Overview
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The chain has a unique set of features that make it a powerful network with unique properties:
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The chain has a unique set of features that make it a powerful network with unique properties:
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- **Bitcoin Integration:** Direct connection to Bitcoin for staking and timestamping via bitcoin scripts
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- **Bitcoin Staking:** Native BTC staking and timestamping mechanisms, and Extractable One-Time Signature (EOTS)
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- **Multi-staking:** Enables multiple BSNs to leverage Bitcoin's security simultaneously
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* **Total Supply**: 10,000,000,000 BABY
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* **Decimals**: 6
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BABY works alongside staked Bitcoin, with BTC providing the economic security guarantees
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BABY works alongside staked Bitcoin, with BTC providing the economic security guarantees
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while BABY enables protocol operations and governance.
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### Token Utility
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* Babylon Genesis will also become a Bitcoin liquidity hub via trustless bridges
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* Implementation of Bitcoin multi-staking to allow Bitcoin's to secure multiple networks
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Learn more about the Babylon Genesis network launch sequence below:
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Learn more about the Babylon Genesis network launch sequence below:
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<Link
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to="./phases_of_the_launch"
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to="/guides/overview/phases_of_the_launch"
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id="phases_of_the_launch"
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>
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Phases of the Launch
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</Link>
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# Chain Governance
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Babylon Genesis is governed by the native token BABY. BABY holders can actively engage in the decision-making process, influencing the direction and development of Babylon Genesis and the BSN cohorts. This participatory model ensures that the network always reflects the collective will of its token holders.
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Babylon Genesis is governed by the native token BABY. BABY holders can actively engage in the decision-making process, influencing the direction and development of Babylon Genesis and the BSN cohorts. This participatory model ensures that the network always reflects the collective will of its token holders.
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Proposals are critical function in the governance process. These proposals can cover a range of topics, from software upgrades to smart contract deployments during the permissioned phase, and the creation of new BSNs. It is a structured framework for submitting, discussing, and voting on these proposals, ensuring transparency and accountability.
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The governance system is designed to balance the need for efficient governance with the need for decentralization and community participation. Deposits and voting periods are required to submit proposals, ensuring that the proposals are taken seriously and are worth the resources to implement. There are also mechanisms for expedited proposals and safeguards against potential harmful ones.
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The governance system is designed to balance the need for efficient governance with the need for decentralization and community participation. Deposits and voting periods are required to submit proposals, ensuring that the proposals are taken seriously and are worth the resources to implement. There are also mechanisms for expedited proposals and safeguards against potential harmful ones.
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Learn more about the governance process below:
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Learn more about the governance process below:
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<Link
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to="https://forum.babylonlabs.io/c/governance-proposals"
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BGC's block production process is safeguarded by Genesis Chain Validators. They are nodes that validate transactions, produce blocks, and help secure the Babylon Genesis Chain.
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### Become a Validator
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To become a validator, you must follow the guides to apply to join the Babylon Genesis
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To become a validator, you must follow the guides to apply to join the Babylon Genesis
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Validator set.
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:::note
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Validators are accepted from Phase 2 of Babylon network. Phase 2 network is currently in
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testnet.
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Validators are accepted from Phase 2 of Babylon network. Phase 2 network is currently in
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testnet.
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:::
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<Link
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# Finality Providers
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Finality Providers play a crucial role in securing not only PoS blockchains
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but also decentralized systems that require data validation. These entities participate in
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finality rounds, acting as impartial arbiters to ensure rule adherence, much like referees
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Finality Providers play a crucial role in securing not only PoS blockchains
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but also decentralized systems that require data validation. These entities participate in
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finality rounds, acting as impartial arbiters to ensure rule adherence, much like referees
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in a football game.
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They manage their Extractable One-Time Signature (EOTS) keys, submitting signatures using
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public randomness. This process contributes to the security of the target system. The
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reliable and honest computation is backed by staked Bitcoin, leveraging its economic
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They manage their Extractable One-Time Signature (EOTS) keys, submitting signatures using
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public randomness. This process contributes to the security of the target system. The
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reliable and honest computation is backed by staked Bitcoin, leveraging its economic
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value to provide robust protection across various digital ecosystems.
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## Become a Finality Provider
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To become a Finality Provider, you don't need to stake on Babylon.
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:::note
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Finality Providers are accepted from Phase 3 of Babylon network. Phase 3 network is still
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in devnet.
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Finality Providers are accepted from Phase 3 of Babylon network. Phase 3 network is still
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in devnet.
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:::
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<Link

docs/guides/overview/phases_of_the_launch/phases_of_the_launch.mdx

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>
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<Card
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title="Phase 1: Bitcoin Locking"
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to="./phases_of_the_launch/phase-1"
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to="/guides/overview/phases_of_the_launch/phase-1/"
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/>
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<Card
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title="Phase 2: Babylon Genesis Launch"
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to="./phases_of_the_launch/phase-2"
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to="/guides/overview/phases_of_the_launch/phase-2/"
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/>
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<Card
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title="Phase 3: Bitcoin Multi-staking"
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to="./phases_of_the_launch/phase-3"
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to="/guides/overview/phases_of_the_launch/phase-3/"
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/>
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</CardSection>
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Security assurances are the most important to Bitcoin stakers. We take the following measures in each phase to ensure this:
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Security assurances are the most important to Bitcoin stakers. We take the following measures in each phase to ensure this:
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- Multiple audits in each phase
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- Progressive onboarding of TVL with caps
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- Covenant committee oversees all phases
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- Ensuring all designs are self-custodial
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- Ensuring all designs are self-custodial

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