On December 11, Gate Web3 has unveiled the Babylon BTC staking (Cap-3) initiative, allowing users to engage in Bitcoin staking starting from BTC block 874088. This initiative will span approximately 1,000 blocks, equating to roughly one week, commencing on December 10, 2024. Participants are incentivized to accrue points through various staking activities, with a total reward pool of $50,000 in BTC slated for redistribution directly to participants’ wallets upon task completion.
During this promotional period, users must complete all interactive tasks via the Gate Web3 wallet to qualify for point allocation. The structure for point distribution allocates 100,000 points for the first 300 BTC blocks and a further 21,000 points for the remaining 700 blocks. Notably, the Gate Web3 Wallet has demonstrated significant growth in 2024, amassing over 54 million new addresses, marking a staggering 30-fold increase from the previous year.