Magpie initiates a community proposal to launch the SubDAO Babypie for Bitcoin staking.

ChainCatcher news, the multi-chain yield protocol Magpie has initiated a community proposal to launch a new SubDAO for Bitcoin staking called Babypie.

It is reported that Babypie will focus on utilizing Bitcoin for Proof of Stake (PoS) staking through the Babylon chain. Magpie will receive 20% of the Babypie tokens BBP, which will be released over two years and locked in the Magpie treasury. The proposal voting will close on June 28 at 10:00 AM, with current supporters at 99.75%.