Comment
Author: Admin | 2025-04-28
Previously by the staker. To withdraw an expired stake, a staker will generate a withdrawal transaction.There are no other transactions or messages the stakers need to sign in Phase-1.In particular, stakers will not sign a consent to PoS slashing. Thus, there is no slashing of staked bitcoin during Phase-1.2.3 Initial Total Staking CapFor security reasons, there will be an initial total staking cap of 1,000 bitcoins. This cap will be relaxed as Phase-1 progresses.First-come-first-served: Every stake is accepted on a first come, first served (FCFS) basis based on their order on the Bitcoin blockchain, until the cap is reached.Overflow and no-queuing: Stakes that arrive once the cap is reached will be treated as overflow, and should be unbonded and withdrawn. There is no staking queue, meaning that if the cap reopens once previously accepted stakes are unbonded, overflow stakes will not automatically fill the cap. Instead, new staking transactions must be submitted to refill the newly available cap capacity. This queue-less design is intended to discourage users from keeping overflow stakes in the system.2.4 Limits Per Staking TransactionAlong with the initial 1,000 bitcoins total staking cap, there are also limits per staking transaction:Minimum stake: 0.005 bitcoins. This is to ensure that the staking amount can cover the unbonding transaction fee (0.00064 bitcoins which will go to the Bitcoin miner) and withdrawal transaction fee (customizable by the staker).Maximum stake: 0.05 bitcoins. This intentionally small maximum is meant to encourage broad participation. It ensures that the entire cap will need at least a few Bitcoin blocks worth of staking transactions to fill. This prevents a single entity from buying out one Bitcoin block and taking the entire cap, squeezing everyone else out in the process.To further promote broad and genuine participation, excessive stake splitting is discouraged.2.5 Point System and CommissionsThere will be no direct staking reward given during Phase-1 as there is no active PoS chain yet. Instead, a point system will measure each staker’s activities, tracked by the staker’s public key.During the initial 1,000-bitcoin cap, 3,125 Babylon points will be allocated per Bitcoin block. The 3,125 points will be allocated proportionally among all active stakes within that block. Stakes with a different status, such as overflow, unbonding, unbonded, and withdrawn, will not receive any points.For each active stake, both its staker and finality provider will receive points, with the finality provider taking a cut based on its commission rate.Example: Once the 1,000-bitcoin cap is filled, an active stake of 0.05 bitcoins will earn 3,125*0.05/1,000 = 0.15625 points per Bitcoin block. If the finality provider charges a 5% commission, the staker will earn 0.15625*0.95 = 0.1484375 points per Bitcoin block and the finality provider will receive 0.15625*0.05 = 0.0078125 points per block
Add Comment