Whitelist SatLayer Labs address to deploy restaking contracts - Parameter Change Proposal
Summary
This proposal seeks to allow the SatLayer Labs teamâs designated deployer address to upload SatLayer CosmWasm contracts to Babylon Genesis. The whitelisted deployer address shall only be used to upload code related to SatLayerâs products on Babylon, including upgrades and maintaining SatLayer as a protocol.
Proposal Details
Type
- Proposal Type: Parameter Change
- Chain: Babylon Genesis Mainnet
- Messages:
/MsgAddCodeUploadParamsAddresses
Overview
SatLayer is a shared security platform designed to leverage Bitcoin as the primary security collateral.
By deploying as a set of smart contracts on Babylon, SatLayer enables Bitcoin restakers to secure any type of decentralized application or protocol as a Bitcoin Validated Service (BVS). This means that Bitcoin, the largest and most widely trusted cryptocurrency, can now provide security to a broad range of applications, with full Turing-complete programmability while minimizing trust assumptions. By expanding the ways Bitcoin can be used, SatLayer helps Bitcoin maximizes its potential as a productive asset.
As part of this governance proposal, SatLayer Labs intends to deploy SatLayerâs core restaking contracts upon approval from on-chain voting. The core contract code can be found at GitHub - satlayer/satlayer-bvs: SatLayer Bitcoin Validated Service (BVS).
SatLayer currently has US$280 million worth of restaked Bitcoin assets that will be used as restaking collateral on the Babylon Genesis mainnet.
Parameter Specifications
Technical Details
The message we intend to propose for on-chain voting, to whitelist address bbn1txux76dh0c3flwk989xy2t040mksgksd9lch3h as SatLayerâs deployer address with existing addresses remaining the same. The metadata will be added prior to the on-chain voting process.
{
"messages": [
{
"@type": "/cosmwasm.wasm.v1.MsgAddCodeUploadParamsAddresses",
"authority": "bbn10d07y265gmmuvt4z0w9aw880jnsr700jduz5f2",
"addresses": [
"bbn1txux76dh0c3flwk989xy2t040mksgksd9lch3h"
]
}
],
"metadata": "ipfs://bafybeiccoqrxrzxxriiohll5pam5e577a5cvm5eozsydpbiwo37mgylgni",
"deposit": "200000000000ubbn",
"title": "Whitelist SatLayer Labs address to deploy core restaking contracts",
"summary": "This proposal seeks to allow the SatLayer Labs team's designated deployer address to upload SatLayer CosmWasm contracts to Babylon Genesis. The whitelisted deployer address shall only be used to upload code related to SatLayer's products on Babylon, including upgrades and maintaining SatLayer as a protocol.",
"expedited": true
}
Security Considerations
The SatLayer contracts for deployment on Babylon Genesis mainnet have undergone comprehensive audits by multiple independent firms. As of March 2025, security reviews were conducted by Dedaub and Coinspect.
The final audit reports are found at satlayer-bvs/docs/public/audits at main ¡ satlayer/satlayer-bvs ¡ GitHub.
A public bug bounty program is currently live on Sherlock to encourage open-ended community testing, and rewards are offered for responsibly disclosed vulnerabilities. The assets in scope for the bug bounty will also include SatLayerâs deployments on Babylon Genesis mainnet. For more information on our bounty program, please visit here.
In addition to external audits and bug bounty programs, SatLayer maintains a layered internal review process, including rigorous test suites, well-documented runbooks and operational security best practices. The code to be deployed has also passed internal peer review cycles across the engineering team.
Timeline & Expected Effects
- Implementation Timeline: Immediately after Babylon Genesis mainnet is launched.
- Dependencies: Whitelisting of the deployer address.
Team & Resources
- Proposing Entity: SatLayer Labs
- Point of Contact: JJ Goi (
[email protected]) - Relevant Experience: SatLayer is Babylonâs 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 Bitcoinâs cryptoeconomic security, by unlocking fully programmable slashing for Bitcoin, built upon Babylon Genesis chain.
Benefits
- Brings BTC staking and restaking towards feature-parity with Ethereum staking and restaking, enabling apps and infrastructure, in addition to PoS chains, to access BTC liquidity and security
- With 1 click, users will be able to liquid stake their BABY tokens directly on Babylon Genesis mainnet, and also restake BABY LSTs into SatLayer