Prop 18: v4 Software Upgrade

We're thrilled to announce the release of Babylon version v4, introducing three major advancements designed to enhance the staking experience.

• Co-staking: This feature introduces additional rewards for co-stakers, users who stake both BTC and BABY. More information can be found in the corresponding forum posting.

• Reduced Inflation: BABY inflation reduces from 8% a year to 5.5% a year.

• Stake Extension: A mechanism that allows BTC stakers to extend the timelock of their existing stakes without unbonding. This enables stakers to seamlessly continue earning BTC Staking rewards without any interruptions and downtime. When extending a stake, the staking amount can be increased as well.

Actions for you

To ensure a smooth upgrade, we kindly request the following actions from you:

During the governance proposal (until November 13, 10:30 AM UTC):

- If you are a CometBFT Validator, vote YES for the governance proposal (ref).

Prior to the upgrade height (before November 13, 11:50 AM UTC):

• Prepare the upgrade binary following the instructions documented here.

When the upgrade height is reached (on November 13, around 11:50 AM UTC):

• Perform the steps documented here to upgrade your node.

• Verify that the upgrade was successful

  • If you are a CometBFT Validator, verify that your node is signing new blocks.

  • If you are not a CometBFT Validator, verify that your node is syncing the latest blocks.

We appreciate your prompt action to help minimize disruptions to the Babylon Genesis!