Babylon is a blockchain project that designs security sharing protocols intended to build a Bitcoin-secured decentralized world. The project aims to use Bitcoin as the security foundation for a decentralized ecosystem. It was founded in 2022 by Stanford Professor David Tse and Dr. Fisher Yu and is based in Palo Alto, CA. The team comprises consensus protocol researchers and experienced layer 1 engineers from around the world. Babylon completed a $70 million funding round led by Paradigm, with significant contributions from Bullish Capital, Polychain Capital and other investors. The raise was described as a sign of strong momentum in the Bitcoin economy; Professor Tse's credentials cited include membership in the U.S. Academy of Engineering and major IEEE awards. Babylon is a blockchain project founded in 2022 in Palo Alto by Stanford Professor David Tse and Dr. Fisher Yu. The team is developing a Bitcoin Staking Protocol that converts bitcoin into a decentralized staking asset without requiring a soft/hard fork, bridging, wrapping, or third-party custody. Babylon published a litepaper in July outlining its native trustless Bitcoin staking and intends to allow Bitcoin holders to earn PoS yields while providing crypto-economic security to PoS chains. The project argues that enabling Bitcoin as a staking asset can increase security for emerging chains and reduce inflationary pressure from high staking rewards. In addition to the staking protocol, Babylon is developing Bitcoin Timestamping and Bitcoin Data Availability protocols as part of a broader security-sharing roadmap. The team comprises consensus protocol researchers and experienced layer-1 engineers led by prominent academic and blockchain founders.

Total raised

$88M

Funding rounds

2

Latest round

Equity

Latest activity

May 2024