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How to Stake, Unstake, and Redeem Bitcoin on Babylon via Hex Safe

BTC Staking Steps

  1. Navigate to Staking: Go to the Staking section in Hex Safe.

  2. Select BTC: Choose Bitcoin (BTC) and click "Stake now".

  3. Read Description: Review the staking information and click Continue.

  4. Select Vault: Choose the Vault you wish to stake from and click Continue.

  5. Accept Terms and Conditions: Carefully read, understand, and accept the terms.

  6. Enter Stake Details:

  7. Input the amount of BTC you wish to stake
  8. Specify the duration in BTC blocks

  9. The staking duration is currently fixed at 64,000 blocks (approximately 15 months), and you can unstake at any time

  10. Authenticate via Hex Safe Mobile App: Confirm the staking transaction on the Hex Safe Mobile App. Ensure the transaction details match before approving.

  11. Approve Transaction: Users with the Approver role must finalize the transaction in the Hex Safe Mobile App.

Important Note: You can unstake your BTC on demand before its 64,000-block expiration. However, there will be an on-chain unstaking period of 1,008 Bitcoin blocks (~7 days) before you can redeem your BTC.

Unstake BTC Before Duration Expires

  1. Unstake: Navigate to the Staking section in Hex Safe. Locate your active staking position and click the "..." button. Select "Unstake".

  2. Confirm Unstake Details: Verify asset, network, vault, and other details on the confirmation screen. Click Continue.

  3. Choose a Validator: Select the staking position that you wish to unstake.

  4. Review and Confirm: Double-check the transaction details and click Confirm Unstake.

  5. Authenticate and Approve: Confirm the transaction via the Hex Safe Mobile App. Users with the Approver role must finalize the transaction.

Redeem UnStaked (Unbonded) BTC

  1. Access Staking Positions: Go to the Staking section in Hex Safe.

  2. Locate Position: Find the staking position you want to redeem.

  3. Initiate Redemption: Click the "..." button next to the position and select "Redeem".

  4. Confirm Redeem Details: Verify asset, network, and vault details. Click Confirm.

  5. Authenticate and Approve: Use the Hex Safe Mobile App to confirm the transaction. Users with the Approver role must approve the redemption.

Once redeemed, the unstaked BTC will be accessible in your Vault.