Launch Cube by SatLayer on Babylon Genesis

📜 Proposals 🗣️ Text Proposals
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Launch Cube by SatLayer on Babylon Genesis - Text Proposal

Summary

This proposal seeks to use the same SatLayer Labs deployer address in a separate governance proposal to upload and manage the contracts for Cube by SatLayer, a liquid staking token (LST) for BABY on Babylon Genesis. The address will be used strictly for deploying and maintaining Cube-related CosmWasm contracts, on top of the contracts defined in Whitelist SatLayer Labs address to deploy core restaking contracts.

Proposal Details

Type

  • Proposal Type: Text
  • Chain: Babylon Genesis Mainnet
  • Messages: Text Proposal

Overview

Cube by SatLayer is the liquid staking token for BABY, designed to provide users with capital-efficient exposure to BABY staking. Users can mint cBABY by staking BABY through our LST app, ..while retaining the ability to participate in SatLayer’s restaking protocol and other DeFi protocols on Babylon Genesis.

As part of this proposal, SatLayer Labs intends to deploy the Cube by SatLayer smart contracts upon approval, enabling users to mint and manage cBABY on Babylon Genesis from launch.

Our GitHub repository and the testnet app will be released before on-chain voting period begins.

Proposal Scope

The same deployer address bbn1txux76dh0c3flwk989xy2t040mksgksd9lch3h will be used to deploy the Cube by SatLayer contracts, as proposed in a separate governance proposal.

Security Considerations

The Cube by SatLayer smart contracts have been audited by Oak Security and Hashlock (see links below).

Cube by SatLayer will also be covered under SatLayer’s active US$200,000 bug bounty program hosted on Sherlock, which incentivizes community review and whitehat disclosures across all Babylon deployments. More details can be found at docs.satlayer.xyz/security/bug-bounty.

Timeline & Expected Effects

  • Implementation Timeline: Immediately after Babylon Genesis mainnet launch
  • Dependencies: Whitelisting of Cube by SatLayer’s deployer address

Team & Resources

  • Proposing Entity: SatLayer Labs
  • Point of Contact: JJ Goi ([email protected])
  • Relevant Experience: SatLayer is Babylon’s Designated Restaking Partner and the restaking protocol for BTC. SatLayer unlocks the full potential of Bitcoin as a productive, yield-bearing asset by providing the ultimate form of shared security to all of crypto, starting with leading applications and infrastructure on Babylon Secured Networks (BSNs) and top L1/L2 ecosystems as Bitcoin Validated Services (BVS).
    The SatLayer Labs team has delivered innovations across EVM, UTXO, and Ordinals/Inscriptions. Starting with existing, revenue-generating DeFi, RWA, and stablecoin protocols, SatLayer enables apps and infrastructure to access Bitcoin’s cryptoeconomic security, by unlocking fully programmable slashing for Bitcoin, built upon Babylon Genesis chain.

Supporting Information

Previous Community Engagement

  • Related Governance Actions: This governance proposal depends on the separate parameter change proposal (linked in the first paragraph of the proposal), to whitelist our deployer address.

Submitted by: SatLayer Labs
Date: 2025-04-02
Contact: JJ Goi ([email protected])

6 Likes
2

We think a BABY LST is a ‘must have’ to increase the staking rate and ensure plentiful economic security for Babylon, and as such we’re in complete support of this proposal.

7 Likes
3

Excited to have a liquid staking solution available immediately after the launch of Babylon mainnet. With that said, I fully support this proposal!

4 Likes
4

In full support once more. Being able to take part in staking gains + retaining liquidity for other BTCfi actions is a must!

1 Like
5

Interesting proposal. I’d definitely watch out once it goes live. Kudos to the team for creating this!

1 Like
6

We definitely need a $BABY LST to unlock token liquidity. This proposal is put together wel so I’m in support of it

7

₿m Babylon community,

SatLayer Labs values discourse on Babylon governance processes, a reflection of our collective commitment to success. We’re sharing rationale and context to help us all grow together:

  • Cube BABY LST contracts were necessary prerequisites for the restaking flow to function. Otherwise the SatLayer core restaking vaults would have no assets to accept, especially as other LSTs were still testing and/or finalizing their canonical bridged assets on Babylon Genesis
  • The above text proposal to launch Cube was submitted here on Babylon’s governance forum well ahead of onchain voting, with consistent community support and clear references to our main parameter change proposal to whitelist our deployer address for uploading smart contracts related to our core restaking protocol
  • Our understanding at the time based on comms was that a separate on-chain signalling proposal for Cube would not be necessary, as we planned to use the same deployer address for both deployments, so long that the deployer address had been approved and relevant forum discussion had taken place, so we proceeded accordingly

To lead by example, SatLayer Labs will submit signalling proposals for any major new contract deployments or upgrades within our ecosystem (for Cube, core restaking, or future components) to ensure alignment with the latest governance guidelines and further transparency.

This can be a blueprint for how our pioneering ecosystem can best balance speed with consensus. Let’s keep building, faster.

Feel free to share feedback with me directly at any time.

Onwards,
Luke Xie and the SatLayer Labs team