The protocol said the airdrop was dedicated to its Phase 1 stakers, non-fungible token (NFT) holders and developers contributing to its ecosystem. The staking protocol said it was airdropping 600 million BABY tokens, 6% of its total supply; 30 million BABY were allocated to the protocol’s Pioneer Pass NFT holders, while 5 million BABY were slated for open-source contributors. The rest of the tokens were to be distributed among eligible stakers who participated in the protocol’s Phase 1.
This included a stake participation airdrop of 30 million BABY, a base staking reward airdrop of 335 million BABY and a bonus staking reward airdrop for Phase 2 transition of 200 million BABY. While the platform distributed an airdrop for its early adopters, it clarified that it did not include wallet campaigns and liquid staking incentives in this airdrop event. In response to the airdrop, crypto exchange OKX listed the BABY token and USDT pair in pre-market futures.
This means the transactions generated high fees and occupied roughly a third of an entire Bitcoin block. The activity followed Babylon’s 600 million airdrop of its native token, BABY, which was distributed to early users and contributors.
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Author / Journalist: Cointelegraph by Ezra Reguerra
The story "Babylon users unstake $21M in Bitcoin following token airdrop" has 437 words across 28 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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