PANews reported on April 10 that Babylon published a post on the X platform saying that the Bitcoin-collateralized Layer 1 blockchain Babylon Genesis has been officially launched. It is reported that this is the second phase of Babylon's launch of the Bitcoin pledge agreement.

According to previous news, Babylon Bitcoin staking will be launched in three phases. The first phase is to lock Bitcoin staking to expand supply, the second phase is to launch the Layer1 blockchain Babylon Genesis based on Cosmos-SDK, and the third phase is to launch other BSNs (this will allow other networks to access Bitcoin staking security and liquidity through Babylon Genesis).