Kiln partners with Fordefi to offer BTC staking on Babylon
We are thrilled to announce our partnership with Fordefi to bring Bitcoin staking through Babylon Labs. This exciting collaboration opens up new opportunities for generating rewards on dormant BTC, marking a significant milestone in the expansion of Bitcoin DeFi.
Understanding Babylon Bitcoin staking
Bitcoin staking provides increased utility for bitcoins that are not being actively used and enhances the security and decentralization of other blockchain networks.
The key to securing a Proof-of-Stake (PoS) network is to penalize (or "slash") the stake of anyone attempting to attack the network. Babylon leverages advanced cryptographic technologies to convert these penalties into spendable Bitcoin transactions, which can then be burned. This technology, combined with Bitcoin’s built-in time-lock feature, enables Bitcoin holders to participate in PoS security by locking their bitcoins directly on the Bitcoin network.
The next cap raise for Babylon is set for Tuesday, December 10th, and will last for approximately 7 days (1,000 Bitcoin blocks). Given the high demand during Cap 1.2 in October, we expect similar interest for this round.
Why did Fordefi choose Kiln?
This collaboration brings together Fordefi, a leading provider of MPC wallet technology for institutions, and Kiln, one of the largest global node operators, to expand Bitcoin staking solutions within the ecosystem.
How to get started?
- Visit Babylon: https://btcstaking.babylonlabs.io
- Choose your finality provider: "Kiln”!
- Click the "Connect to BTC Network" button at the top right corner of the DApp webpage
- Check the three approval boxes.
- Select "Bitget Wallet" and click "Connect to BTC network". The Fordefi browser extension popup should appear.
- Then, select the amount of BTC you want to stake (up to a maximum of 500 BTC)
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Please check the Fordefi documentation on how to stake BTC on Babylon.
About Foredefi
Fordefi’s MPC wallet is an all-in-one solution for digital asset management. Their security platform offers native connectivity to dozens of blockchains, self-serve policy controls, smart contract address verification, transaction simulation, and real-time risk alerts, alongside a full-stack developer suite of native APIs and SDKs. Fordefi was founded in 2021 by crypto custody and cybersecurity experts, and its platform is leveraged by industry-leading market makers, trading firms, and web3 companies.
About Kiln
Kiln is the leading staking and digital asset rewards management platform, enabling businesses to earn rewards on their digital assets, or to whitelabel earning functionality into their products. Kiln runs validators on all major PoS blockchains, with over $8.6 billion in crypto assets being programmatically staked and running over 4% of the Ethereum network on a multi-client, multi-cloud, and multi-region infrastructure. Kiln also provides a validator-agnostic suite of products for fully automated deployment of validators and reporting and commission management, enabling custodians, wallets, and exchanges to streamline staking or DeFi operations across providers. Kiln is SOC2 Type 2 certified.
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