Bitcoin Staking Protocol Babylon Raises 18 Million Dollars

OKX and Polygon Invest in Staking Protocol in Babylon

Bitcoin staking protocol Babylon has raised $18 million in a Series A funding round led by Polychain Capital and Hack VC. Other investors in the round include Framework Ventures, Polygon Ventures, Castle Island Ventures, OKX Ventures, and Symbolic Capital.

The Babylon Protocol will allow Bitcoin holders to stake their coins on a proof-of-stake blockchain and earn yields.