Following a recent airdrop, over $21 million worth of Bitcoin was unstaked from the Babylon protocol within 24 hours, according to blockchain data. Developer Mononaut disclosed that 256 Bitcoin had been unstaked, incurring fees of 1.35 BTC and utilizing 1.318 Megavirtualbytes of blockspace. The surge in unstaking coincided with the distribution of 600 million BABY tokens to early users. Babylon's co-founder, Fisher Yu, explained that unlike Ethereum and Solana, Bitcoin staking does not yield rewards in native assets but rather in different tokens. The airdrop aimed at Phase 1 stakers, NFT holders, and ecosystem developers, consisting of various allocations of BABY tokens. This strategic move led to the trading of BABY token futures on the OKX exchange. Currently, Babylon holds a total value locked (TVL) of $4.29 billion, accounting for 80% of the Bitcoin ecosystem’s overall TVL, which stands at $5.34 billion.

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