Bybit Web3 Launches Babylon Season to Boost Bitcoin Ecosystem Rewards and Liquidity

Coinspeaker
Bybit Web3 Launches Babylon Season to Boost Bitcoin Ecosystem Rewards and Liquidity

Bybit Web3, the decentralized arm of Bybit, the world’s second-largest cryptocurrency exchange, has launched an ambitious new initiative called Babylon Season.

Running until September 20, 2024, this event is designed to enhance the Bitcoin (BTC) ecosystem by offering users unique opportunities to earn rewards through innovative staking and swapping features on both Ethereum Virtual Machine (EVM) and Mantle chains.

Babylon Season is built around partnerships with six leading cryptocurrency projects: PumpBTC, Solv, B2 Network, pSTAKE, Bedrock, and Babypie. Each of these projects will contribute special rewards and incentives to participants, making Babylon Season one of the most diverse and rewarding campaigns in the Web3 space. Bybit Web3 aims to provide the broadest access to on-chain protocols and help users maximize their BTC holdings through these collaborations.

Emily Bao, a Web3 evangelist at Bybit, highlighted the campaign’s goals, stating, “Babylon Season is all about making the Web3 experience more rewarding and accessible. We’re excited about our new partnerships and the potential they bring to enrich the BTC ecosystem.”

Partners in the initiative share this enthusiasm. J, Co-founder of PumpBTC, noted that Babylon Season represents a significant step forward for Bitcoin. “This partnership with Bybit Web3 gives users new ways to grow their BTC holdings with innovative on-chain solutions,” J said.

In the decentralized finance (DeFi) space, Ryan Chow, Co-founder of Solv Protocol, emphasized the importance of this campaign for expanding Bitcoin’s role in DeFi. “By collaborating with Bybit Web3 Wallet, we’re offering users more flexible and rewarding ways to engage with the BTC ecosystem,” Chow explained.

Babylon Season offers a variety of rewards to cater to different types of users. For instance, PumpBTC provides double points for even small BTC stakes, while Solv Protocol offers a 20% boost on Solv XPs. Other partners, like B2 Network and pSTAKE Finance, offer significant token rewards without requiring a minimum stake. These incentives underscore Bybit Web3’s commitment to making the BTC ecosystem more inclusive and profitable for all participants.

The integration of support for both EVM and Mantle chains ensures that users can seamlessly transition between different blockchain environments. This dual-chain capability allows for more diversified investment strategies and maximizes the potential returns on BTC holdings. As Babylon Season progresses, the initiative is expected to set new benchmarks for user engagement in the Web3 space.

Founded in 2018, Bybit is one of the largest cryptocurrency exchanges globally, ranking second by trading volume. The platform supports over 40 million users, offering fast and efficient trading through its ultra-fast matching engine. Bybit is recognized for its 24/7 customer service and multilingual support, catering to a diverse global community.

In addition to its core trading services, Bybit is also a proud partner of the Oracle Red Bull Racing team, reflecting its commitment to excellence and innovation both in the financial world and beyond.

Bybit Web3 Launches Babylon Season to Boost Bitcoin Ecosystem Rewards and Liquidity