Kraken integrates with Babylon to launch Bitcoin staking services
ChainCatcher news, according to CoinDesk, the cryptocurrency exchange Kraken has launched a Bitcoin staking service through a new integration with Babylon, allowing users to stake their Bitcoin directly and lock it in a native chain custodial vault.
The staked Bitcoin will then be delegated to the PoS network via Babylon, with rewards paid in the form of BABY tokens. This mechanism operates entirely on-chain, with staking managed by Bitcoin scripts and cryptographic safeguards to prevent malicious activities. Users can cancel their staking at any time, with an unbinding period of approximately 7 days.
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