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Event Update — July 18, 2024:
Lorenzo is live on beta mainnet and is running an ongoing Babylon pre-launch staking event until Babylon launches on mainnet.
This document is designed to help you easily onboard to the pre-launch staking event and progress towards rewards.
Access The Lorenzo Staking Portal: https://app.lorenzo-protocol.xyz/home
Let’s get started!
How To Begin
- Connect Wallet.
2. Confirm the wallet is successfully connected.
3. Approve the policy.
4. Start staking to all the available Staking Plans.
5. Start staking to the “Babylon Pre-launch Staking” Plan.
6. Confirm the amount you’d like to stake and click “Continue”
7. After confirmation, you shall see the pending BTC staking transaction, it will get confirmed about 6 block time on Bitcoin. And you shall receive stBTC after the staking transaction has been confirmed.
8. You could also click the top right avatar to check the personal center and check all the transaction states.
Reward rules for users
The Babylon pool rewards users who stake in the “Lorenzo’s Pre-Launch Staking Event for Babylon” to get stBTC. Please note that pre-charged BTC will be delegated to Lorenzo. Once Babylon’s mainnet launches, Lorenzo will stake all the received BTC to Babylon on a best-effort basis. Stakers will receive the same amount of stBTC as the staked BTC.
- The pre-staking event will end under one of two conditions: Babylon launches mainnet OR we receive 250 BTC before the mainnet launch.
- Users who fully participated in the Lorenzo pre-staking Babylon event from 5/28 or earlier will receive 30,000 points per 1 $BTC staked, distributed as 1,500 points daily over 20 days.
- Proportional points will be provided for staking less than 1 BTC. If the participation period is less than 20 days, points will be distributed based on the actual number of days.
- Users who did not participate from the first day will receive points proportional to the number of days they participated. All BTC locked in Babylon will not be unlocked/withdrawn within three months and is expected to be unlocked on August 31, 2024.
- LRZ supporters will be boosted and have 2 times points within the first 7 days of their staking taking effect.
- For the stakers on Lorenzo TVL Campaign Waitlist, Lorenzo will offer early stakers 5X, 2.5X, and 1.25X points within the first 7 days of their staking participation.
- If you have signed up for the waitlist, the first 100 stakers on the waitlist that stakes to “Lorenzo’s Pre-Launch Staking Event for Babylon” staking plan has 5X yield on the first 7 days staking, first 1K stakers will have 2.5 x yield on the first 7 days, and first 10K stakers will have a 1.25 x yield on the first 7 days of staking.
- Babylon staking pioneer NFT holders, if they participate in TVL Campaign, will share an individual pool of yield, tentatively extra 5% of total points generated.
Referral Rewards
Every user will have a promo code that can be shared on Twitter. For every new user you successfully invite with your promo code to participate in the campaign, you will earn 20% of all the respective points they earn from staking. Additionally, the invited user will receive an extra 5% bonus points on the points they earn from staking by using the promo code.
We look forward to your participation and hope you enjoy the rewards and opportunities this event brings!
For stBTC holders, the future will bring more DeFi ecosystem events to participate in using the token to earn more rewards.
To stay informed on all Lorenzo staking updates and opportunities, please visit and follow the regular updates on X (Twitter), Medium, Telegram, and Discord.
