PANews reported on April 28 that according to The Block, Nexus Mutual is developing a penalty protection product for Babylon's Bitcoin staking mechanism, targeting individual pledgers and institutional users, aiming to provide higher protection for Bitcoin holders to participate in staking. Babylon has launched the Genesis mainnet this month, and currently about 45,000 Bitcoins have participated in staking.
Nexus Mutual to Provide Penalty Protection Insurance for Babylon Bitcoin Staking Network
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