Kraken has announced its collaboration with the DeFi protocol Babylon to introduce bitcoin staking services, allowing users to earn an annual percentage yield (APY) of up to 1% while retaining full custody of their BTC assets.
By participating in the staking process, users' bitcoin will help secure Babylon's enhanced proof-of-stake (PoS) networks, with rewards distributed in BABY tokens. Kraken manages the entire staking procedure, prioritizing user convenience and security.
