Magpie initiates community proposal to launch SubDAO Babypie for Bitcoin staking

On June 25th, Magpie, a multi-chain yield protocol, proposed a new SubDAO called Babypie for Bitcoin collateral. Babypie will focus on using Bitcoin for proof-of-stake (PoS) collateral through the Babylon chain. Magpie will receive 20% of the Babypie token BBP, which will be released over two years and locked in the Magpie treasury. The proposal vote will end at 10:00 am on June 28th, with supporters currently at 99.75%.