When users deposit FBTC into protocols that support Babylon staking for their liquid staking/restaking tokens, they earn FBTC Sparks based on the amount of FBTC they initially deposited. However, if users withdraw or move their funds (e.g., SolvBTC, uniBTC), they will no longer be eligible to receive Sparks. (Please note that all staked tokens on Babylon are subject to Babylon’s specifications.)
There are currently two trading pairs: mETH/FBTC and WBTC/FBTC, available on Ethereum, Mantle, and BNB Chain. Sparks are rewarded to the combined liquidity value of the FBTC market price at the time of the snapshot.
For example, user A deposits 1 FBTC into a lending protocol, and user B borrows 0.5 FBTC correspondingly.
- If user A has no borrowings, user A will be accrued Sparks based on 1 FBTC deposited into the lending protocol. User B won't be rewarded at all.
- If user A has borrowings on USDT, user A will still be accrued Sparks based on 1 FBTC deposited into the lending protocol. But if the FBTC supply decreases due to liquidation, the corresponding Sparks will be reduced accordingly.
When FBTC is deposited into a vault on another blockchain network, Sparks are only awarded based on the total amount of FBTC deposited into the vault address on that network.
The referrer will earn an additional 10% Sparks for each referee. A valid referee is defined as an address bound to an invite code and holding more than 0 FBTC in either wallets or any partner applications listed on the campaign page. There is no limit to the number of referees, and we encourage users to promote the FBTC Sparkle campaign to a broader community.
