ChakraChakra: The First Modular Settlement Layer for Unified Bitcoin Liquidity
In the current crypto ecosystem, Bitcoin liquidity is facing significant wastage and fragmentation issues. Despite Bitcoin occupying half of the total market capitalization of cryptocurrencies, over 66% of Bitcoin has not moved within a year, resulting in over $900 billion in liquidity not being released. Additionally, the proliferation of Bitcoin Layer 2 networks further fragments liquidity. Current Bitcoin settlement solutions each have their own bottlenecks, severely impacting user experie...
ChakraChakra Protocol: Bitcoin Restaking using Zero-Knowledge Proofs
Bitcoin RestakingBitcoin, with its market cap now reaching an astounding 1 trillion dollars, has positioned itself as a form of digital gold. However, at present, it largely remains an idle asset. Most BTCs lie dormant in users' cold wallets and in various exchanges around the globe, rather than actively participating in blockchain networks or generating benefits for their holders. The potential of Bitcoin, thus, extends far beyond its current use and application. The goal of the Chakra ...
ChakraBitcoin Scalability Part III: Introspection & Covenant
OverviewCompared to Turing-complete blockchains like Ethereum, Bitcoin scripting is considered to be highly restrictive, capable only of basic operations, and it even lacks support for multiplication and division. More importantly, the blockchain's own data is almost inaccessible to scripts, resulting in a significant lack of flexibility and programmability. Hence, there has been a long-standing effort to enable Bitcoin scripts to achieve introspection. Introspection refers to the abilit...
The first Modular Settlement Layer. Fast and Secure. Easy to Integrate. Unlock Bitcoin's liquidity across every blockchain.
ChakraChakra: The First Modular Settlement Layer for Unified Bitcoin Liquidity
In the current crypto ecosystem, Bitcoin liquidity is facing significant wastage and fragmentation issues. Despite Bitcoin occupying half of the total market capitalization of cryptocurrencies, over 66% of Bitcoin has not moved within a year, resulting in over $900 billion in liquidity not being released. Additionally, the proliferation of Bitcoin Layer 2 networks further fragments liquidity. Current Bitcoin settlement solutions each have their own bottlenecks, severely impacting user experie...
ChakraChakra Protocol: Bitcoin Restaking using Zero-Knowledge Proofs
Bitcoin RestakingBitcoin, with its market cap now reaching an astounding 1 trillion dollars, has positioned itself as a form of digital gold. However, at present, it largely remains an idle asset. Most BTCs lie dormant in users' cold wallets and in various exchanges around the globe, rather than actively participating in blockchain networks or generating benefits for their holders. The potential of Bitcoin, thus, extends far beyond its current use and application. The goal of the Chakra ...
ChakraBitcoin Scalability Part III: Introspection & Covenant
OverviewCompared to Turing-complete blockchains like Ethereum, Bitcoin scripting is considered to be highly restrictive, capable only of basic operations, and it even lacks support for multiplication and division. More importantly, the blockchain's own data is almost inaccessible to scripts, resulting in a significant lack of flexibility and programmability. Hence, there has been a long-standing effort to enable Bitcoin scripts to achieve introspection. Introspection refers to the abilit...
The first Modular Settlement Layer. Fast and Secure. Easy to Integrate. Unlock Bitcoin's liquidity across every blockchain.
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Get ready for Phase 3 of the Chakra Testnet, launching on June 19, 2024, at 9 AM UTC! This phase coincides with the launch of Cap 3 of Babylon Bitcoin Staking Testnet-4, starting at Signet BTC block height 200,665.
In Phase 3, we are thrilled to unveil our new Points system and introduce two distinct staking options: self-custody and Cobo MPC custody. These updates are designed to elevate your staking experience and offer unparalleled flexibility in managing your digital assets. Participants can also claim a Chakra Aqua NFT whitelist spot upon successful staking, regardless of which staking option they choose.
Introducing our game-changing Points system! Rack up more points by staking more assets for longer durations, and boost your points even further through referrals. Get ready to climb the leaderboard and make your mark in Chakra’s ecosystem!
In Phase 3, you have the power to choose between two exciting Signet BTC staking methods. Take control by managing your Signet BTC through Babylon self-custody, or enjoy the ultimate convenience and security by staking via Cobo MPC.
Participating in Chakra Testnet Phase 3 is straightforward. Here are the steps to get started:
Enter your invite code at the Chakra Staking dApp.
Connect your OKX wallet to the Signet BTC network.
Navigate to “Stake”, and choose your staking option.
Stake your Signet BTC through self-custody.
Liquid stake your Signet BTC to the Cobo MPC wallet (Beta).
Review your transaction details at “Staking History”.
Check your points earned at “Points”: Points will be refreshed daily based on the amount and duration of staked assets.
Utilize Referrals: Invite friends to join staking on Chakra Testnet by sharing your invite code, and earn additional points through the referral program.
Claim a Chakra Aqua NFT whitelist spot: Stakers can also claim a Chakra Aqua NFT whitelist spot upon successful staking at Chakra Testnet Phase 2 Campaign on Galxe.
For detailed instructions on staking on Chakra Testnet, please refer to this Staking Guide.
The points system represents and tracks user contributions to Chakra’s ecosystem, and points will be distributed to both staking options, self-custody, and Cobo’s MPC custody. Here's how it works:
Points are distributed to all active staking transactions within the Babylon Cap, including submissions during Chakra Testnet Phase 2 (Babylon Cap 2). Points accumulate from the start of each staking transaction. Users earn 1 point for every 0.0005 sBTC staked per day. Points are refreshed daily at 12 AM UTC.
Earn additional points by referring friends. Any user who refers a friend receives points equal to 10% of the points their referral accumulates.
In addition to BTC self-custody staking through Babylon, we offer an another staking option through Cobo MPC for more convenience and ease of use.
Cobo is a trusted digital asset custody and wallet platform offering the Cobo MPC Wallet-as-a-Service solution. This solution uses Multi-Party Computation (MPC) and Threshold Signature Scheme (TSS) technologies to enable secure co-management of digital assets.
If you delegate your stake(s) to Chakra and choose the Cobo MPC custody solution, the in the Babylon script will be replaced by the PubKey of Cobo MPC's address. Your staking transactions are submitted by the Cobo MPC wallet, and unlocked assets are released to the Cobo MPC wallet instead of your self-controlled wallet. To unbond or withdraw your staked assets, you need to initiate the request in the Chakra Staking dApp, which will then send corresponding requests to Cobo and Babylon. Once Cobo receives control of the unlocked assets, you will receive the corresponding amount of assets from Cobo. Notice As the Liquid Staking option is still in its beta phase, there are currently limited features for the Cobo MPC Custody staking option. Exclusive to Chakra dApp: The Cobo integration is accessible only through the Chakra Staking dApp. To initiate unbond and withdrawal requests, stakers must use the Chakra Staking dApp. Staking on the Babylon Staking dApp defaults to self-custody. Unbond Feature Currently Unavailable: The unbonding feature is currently unavailable for stakers choosing Cobo MPC custody due to ongoing integration development. We will launch this feature as soon as possible. Useful Links Claim Signet Bitcoin from Chakra: Chakra Testnet Phase 1 Campaign Claim a whitelist spot for the Chakra Aqua NFT: Chakra Testnet Phase 2 Campaign Staking Guide for Chakra Testnet: Staking Guide Stay tuned for the latest news for Chakra Testnet Phase 3: Follow Chakra on X To provide feedback, report bugs or issues:
Get ready for Phase 3 of the Chakra Testnet, launching on June 19, 2024, at 9 AM UTC! This phase coincides with the launch of Cap 3 of Babylon Bitcoin Staking Testnet-4, starting at Signet BTC block height 200,665.
In Phase 3, we are thrilled to unveil our new Points system and introduce two distinct staking options: self-custody and Cobo MPC custody. These updates are designed to elevate your staking experience and offer unparalleled flexibility in managing your digital assets. Participants can also claim a Chakra Aqua NFT whitelist spot upon successful staking, regardless of which staking option they choose.
Introducing our game-changing Points system! Rack up more points by staking more assets for longer durations, and boost your points even further through referrals. Get ready to climb the leaderboard and make your mark in Chakra’s ecosystem!
In Phase 3, you have the power to choose between two exciting Signet BTC staking methods. Take control by managing your Signet BTC through Babylon self-custody, or enjoy the ultimate convenience and security by staking via Cobo MPC.
Participating in Chakra Testnet Phase 3 is straightforward. Here are the steps to get started:
Enter your invite code at the Chakra Staking dApp.
Connect your OKX wallet to the Signet BTC network.
Navigate to “Stake”, and choose your staking option.
Stake your Signet BTC through self-custody.
Liquid stake your Signet BTC to the Cobo MPC wallet (Beta).
Review your transaction details at “Staking History”.
Check your points earned at “Points”: Points will be refreshed daily based on the amount and duration of staked assets.
Utilize Referrals: Invite friends to join staking on Chakra Testnet by sharing your invite code, and earn additional points through the referral program.
Claim a Chakra Aqua NFT whitelist spot: Stakers can also claim a Chakra Aqua NFT whitelist spot upon successful staking at Chakra Testnet Phase 2 Campaign on Galxe.
For detailed instructions on staking on Chakra Testnet, please refer to this Staking Guide.
The points system represents and tracks user contributions to Chakra’s ecosystem, and points will be distributed to both staking options, self-custody, and Cobo’s MPC custody. Here's how it works:
Points are distributed to all active staking transactions within the Babylon Cap, including submissions during Chakra Testnet Phase 2 (Babylon Cap 2). Points accumulate from the start of each staking transaction. Users earn 1 point for every 0.0005 sBTC staked per day. Points are refreshed daily at 12 AM UTC.
Earn additional points by referring friends. Any user who refers a friend receives points equal to 10% of the points their referral accumulates.
In addition to BTC self-custody staking through Babylon, we offer an another staking option through Cobo MPC for more convenience and ease of use.
Cobo is a trusted digital asset custody and wallet platform offering the Cobo MPC Wallet-as-a-Service solution. This solution uses Multi-Party Computation (MPC) and Threshold Signature Scheme (TSS) technologies to enable secure co-management of digital assets.
If you delegate your stake(s) to Chakra and choose the Cobo MPC custody solution, the in the Babylon script will be replaced by the PubKey of Cobo MPC's address. Your staking transactions are submitted by the Cobo MPC wallet, and unlocked assets are released to the Cobo MPC wallet instead of your self-controlled wallet. To unbond or withdraw your staked assets, you need to initiate the request in the Chakra Staking dApp, which will then send corresponding requests to Cobo and Babylon. Once Cobo receives control of the unlocked assets, you will receive the corresponding amount of assets from Cobo. Notice As the Liquid Staking option is still in its beta phase, there are currently limited features for the Cobo MPC Custody staking option. Exclusive to Chakra dApp: The Cobo integration is accessible only through the Chakra Staking dApp. To initiate unbond and withdrawal requests, stakers must use the Chakra Staking dApp. Staking on the Babylon Staking dApp defaults to self-custody. Unbond Feature Currently Unavailable: The unbonding feature is currently unavailable for stakers choosing Cobo MPC custody due to ongoing integration development. We will launch this feature as soon as possible. Useful Links Claim Signet Bitcoin from Chakra: Chakra Testnet Phase 1 Campaign Claim a whitelist spot for the Chakra Aqua NFT: Chakra Testnet Phase 2 Campaign Staking Guide for Chakra Testnet: Staking Guide Stay tuned for the latest news for Chakra Testnet Phase 3: Follow Chakra on X To provide feedback, report bugs or issues:
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