BITCOIN: From HODL to Stake. Babylon Staking Walkthrough With Fisher Yu [#bitcoin, #staking, #defi]

🎙 Speaker: Fisher Yu
▪️ Co-Founder & CTO at Babylon

#Bitcoin #Staking #DeFi #crypto #blockchain #web3

Questions:

1. Please tell us how you got interested in web3.

2. What is Bitcoin for you personally?

3. Normally, when we hear "DeFi," we think of Ethereum or other popular L1s but not Bitcoin. Who came up with the idea of Bitcoin staking? How did it happen?

4. What does Babylon let Bitcoin holders do that wasn’t possible before?

5. How do centralized exchanges like Kraken provide staking services via Babylon? Is such staking centralized?

6. Can users access Babylon staking from non-custodial and specifically hardware wallets?

7. What protocol-related risks do your users face when staking Bitcoin? For instance, what happens if Bitcoin staked by Babylon users is stolen?

8. Babylon has an impressive roadmap for the coming quarters, including Bitcoin multi-staking. Please tell us more about what is coming.

9. Why does Babylon need a blockchain network of its own when staking happens on Bitcoin natively?

10. How do you maintain the demand for $BABY? Since it is distributed as the staking reward, there must be substantial sell pressure.

11. In many countries, staking rewards are taxable. Does Babylon have data export functionality to let users track their earnings easily? Also, are there any other additional useful features?

12. What factors make the Bitcoin staking yield go up or down over time? Does it remain profitable all the time no matter what the Bitcoin price is?

13. Where is the Bitcoin staking industry going in the next 5 years? What do you think will be Babylon's place in it?

14. In your opinion, what web3 market segments have the biggest potential?

15. What's your advice for Synopsis viewers?

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