PANews reported on April 3 that according to the Babylon Foundation announcement, a total of 600 million BABY will be airdropped to the first phase pledgers, Finality Providers, Pioneer Pass NFT holders and GitHub contributors, accounting for 6% of the total supply. The rewards will be directly distributed to the registered address after the mainnet is launched, and users do not need to claim them. Those who have not signed the airdrop agreement can claim them after the launch by signing the contract.
Token economics shows that Babylon Genesis will be launched as the first Bitcoin Security Network (BSN), with a total of 10 billion native tokens BABY, which are mainly used for transaction fees, on-chain governance and security pledge. Babylon adopts a dual pledge model of BTC and BABY, and BABY is also a gas fee token and governance token. In terms of distribution, private investors account for 30.5%, the team 15%, and community incentives and ecological construction account for 15% and 18% respectively. The token has an inflation mechanism, and the inflation rate is adjusted by governance.
