❓FAQ

1. What is Babypie?

Babypie is a liquid staking platform for Bitcoin. It allows users to mint mBTC, an ERC-20 transferable token that is pegged to BTC on a 1:1 basis and it does not accrue any underlying yield. mBTC can be staked as smBTC via Babypie to earn yield derived from Babylon staking.

2. How does Babypie works?

Babypie is a liquid staking platform for Bitcoin, enabling users to mint mBTC, an ERC-20 token pegged 1:1 to BTC. mBTC can be staked as smBTC via Babypie to earn yield from Babylon staking. Upon unstaking, users burn smBTC to initiate the withdrawal process, reclaiming their staked mBTC balance along with any earned rewards.

3. Why Babypie?

• Babypie provides liquidity to BTC stakers - smBTC is on the execution layer, so it can be transferred. Users receive staking rewards from validation activities and can sell smBTC via DEX anytime they want to exit their staking position.

• Participate in DeFi - Users can leverage smBTC as foundational elements in DeFi protocols while reaping rewards from their staking validation activities.

• Governed by the Babypie DAO - This ensures there is no central authority for decision-making, with no single individual possessing access, control, or decision-making power over users’ tokens. Instead, all protocol decisions are determined through DAO voting, with every BBP holder eligible to cast their vote.

• Utilizes highly experienced node operators - Babypie collaborates with seasoned finality providers (node operators), reducing the risk of technical errors that could result in slashing or penalties. Users provide the stake, while the finality providers contribute their expertise.

4. What is Liquid Staking

Liquid staking protocols (Babypie) enable users to mint a transferable liquid staking token (LST) that can be utilized in on-chain activities while their underlying stake remains locked. This allows users to earn staking rewards without the need to maintain any staking infrastructure, hence the term “liquid.”

5. What is mBTC?

mBTC is a cross-chain wrapped token pegged 1:1 to BTC, but it doesn't generate any yield on its own. Simply holding mBTC in a wallet won’t earn rewards. To earn yield, users must stake mBTC as smBTC via Babypie or provide liquidity for mBTC on a DEX.

6. What is smBTC?

smBTC is a liquid staking token (LST) created by Babypie. smBTC represents staked BTC on Babylon and accrues rewards directly in the token’s value, allowing users to earn and compound staking rewards without needing to manage separate reward tokens.

7. How can I get smBTC?

Babypie allows users to deposit their native BTC on our platform to mint mBTC. Through mBTC, native BTC holders can stake their assets in a completely permissionless way via the Babylon staking protocol. Essentially, users can utilize the Babypie platform to stake their mBTC as smBTC, whose value increases in relation to the price of BTC. This value increase in smBTC is derived from BTC staking rewards on Babylon.

8. Where can I use smBTC?

smBTC powers an expanding network. Discover the apps and services that are seamlessly integrated with smBTC.

9. What is Babypie for the Bitcoin ecosystem?

Babypie allows users to deposit their native BTC to mint mBTC. Through mBTC, BTC holders can stake their assets in a completely permissionless way via the Babylon staking protocol. Essentially, users can utilize the Babypie platform to stake their mBTC as smBTC, whose value increases in relation to the price of BTC. This value increase in smBTC is derived from BTC staking rewards on Babylon.

10. What are Babypie Jewels

By depositing BTC in Babypie's BTC Treasure Quest, users can earn Babypie Jewels for future rewards, including BBP Airdrop and BBP IDO quota. BTC depositors and stakers on Babypie receive 100 Jewels at the end of each hour for every BTC deposited.

11. What is Babypie's BTC Treasure Quest

Babypie's Treasure Quest is an opportunity for users to deposit their BTC and earn Babypie Jewels, which can be redeemed for future rewards. In this Treasure Quest, BTC stakers on Babypie will receive 100 Jewels at the end of each hour for every BTC deposited, allowing them to accumulate Jewels over time.