1. What is the minimum amount required to stake?
The minimum amount required to stake is 0.005 BTC.
2. Will Babylon points start accumulating immediately?
Yes, Babylon points will begin accumulating immediately after staking is confirmed (approximately 10 blocks or ~100 minutes).
3. Where can I view my Babylon points?
You can view your Babylon points under the Staking tab on Hex Safe.
4. Can I unbond (unstake) my BTC at any time?
Yes, you can unbond (unstake) your BTC on demand, at any time before its 64,000-block (~15 months) expiration. However, there will be an on-chain unbonding (unstaking) period of 1,008 Bitcoin blocks (~7 days) before you can redeem your BTC.
5. Are Hex Safe Vaults linked to the points earned?
Yes, your Babylon points are directly linked to your Hex Safe Vault.
6. Is there any systemic risk to the principal?
Deploying digital assets through novel applications carries inherent risks that should be carefully assessed by the asset owner. We strongly recommend reviewing the technical documentation published by the Babylon team and conducting your own research before staking your BTC. For more information, visit Babylon Labs.
7. What happens to the points if I unbond (unstake) my BTC?
The points are linked to your Hex Safe Vault and will remain there even after you unbond (unstake) your BTC.
8. Will I need to sign any paperwork?
No, you simply need to accept the Staking Terms and Conditions (T&Cs) on the platform.
9. Will monthly statements include details about staked balances and accrued earnings/points?
Yes, your monthly statements will include details about your staked balance and accrued earnings/points.
10. How can I find a complete guide to staking, unbonding (unstaking), and redeeming on Babylon via Hex Safe?
For a complete guide, click here.