Participate for free in the Babylon testnet, a Bitcoin Layer 2, where you can stake your BTC!
Babylon
Progress mission: 0 of 3
Rewards
Rewards
TBA
Past rewards
$1,100 $16,300
Details
Minimal cost
Free
Time required
17 min.
Category
Testnet
Rating
8/10
Risk
Low
Joining the Babylon testnet could be a good idea for a few reasons. First, they raised $103 million in funding. This shows strong financial support. Paradigm, a top crypto fund, led their Venture Round. Paradigm-backed projects often do airdrops. These tokens usually start strong. Second, Babylon is a Layer 2 solution for Bitcoin. Bitcoin's ecosystem has been popular in 2023 and 2024. Third, participating in the testnet is free, so your only cost is your time. However, testnets can have small rewards. The risk is mainly that the rewards might not be big.
Pros & Cons
Why is it worth it?
Significant Funding
Babylon has raised $103 million in total funding, showing strong financial backing and potential for growth.
Reputable Investors
Paradigm, a top crypto fund, led Babylon's Venture Round. Their support can bring credibility, attract other investors, and indicates strong potential for success.
Hot Ecosystem
Babylon is a Layer 2 solution for Bitcoin, a popular and evolving ecosystem. This might in turn bring more money in for Babylon and make the potential airdrop value higher.
Low Risk Participation
Babylon is in its testnet phase, so participation is free, requiring only your time. This is a great way to get involved with no financial risk.
Risks to consider
Uncertain Rewards
Testnet rewards may not be substantial, making your time investment potentially less worthwhile. There’s always a risk that rewards won’t justify the effort.
How to participate?
Every opportunity has its own rules. Following these closely can significantly increase your chances of qualifying for rewards. Here’s a list of recommendations from our team to help maximize your chances of benefiting from this opportunity.
- Join the Babylon Discord server: You need to be a member of the Discord server to request tokens. Create a Discord account if you don’t have one. Join the Babylon server by following an invite link.
- Request test tokens from the faucet: Look for the faucet channel in the Babylon Discord. Follow the instructions there to request test tokens. These tokens are necessary for staking and testing.
- Submit transactions to the BTC Signet test network: You need to stake, unbond, and withdraw testnet BTC. Each of these actions requires you to submit a transaction. Follow the steps on the staking web dapp carefully.
- Participate in Babylon’s Galxe campaign: Babylon has a Galxe campaign that you can join. This can improve your chances of getting an airdrop.