🚀 Babylon Genesis V2 Upgrade To push Babylon Genesis to become the center of BTCFi trading globally. This upgrade focuses on: 🔹 Cross-chain composability 🔹 Improved features for token creation With the addition of "Community Favorite Extensions" that developers have requested. This is an upgrade designed specifically for Builders. The Babylon Labs team believes this upgrade will help 🔸 Enhance user experience in using major DeFi applications. 🔸 Assist developers in utilizing tools designed to connect between different chains through IBC (Inter-Blockchain Communication) to their full potential. This is another significant step for Babylon Genesis in terms of interoperability, making this chain more suitable for app development and confirming that Babylon will be a key player in the interconnected blockchain world and a true economic hub of BTCFi. 🔓 Unlocked Capabilities This upgrade enhances the experience for both developers and general users while strengthening interoperability and chain security, with highlights including: - Easier token creation - Reducing the process to just 1 transaction - Reducing the risk of bugs in the IBC system 🛡️ 🔥 TokenFactory Module The TokenFactory Module allows for the creation and management of native tokens in a permissionless manner through programs on Babylon Genesis. Therefore, various projects can launch tokens that connect directly with the bank module of the Cosmos SDK immediately. This feature is an alternative to using CW-20 tokens, which have been criticized for their limitations in interoperability with other systems because they are not native tokens and rely on governance voting. 📎 More details about the TokenFactory Module The TokenFactory Module allows for the creation and management of native tokens in a permissionless manner through programs on Babylon Genesis. Therefore, various projects can launch tokens that connect directly with the bank module of the Cosmos SDK immediately. This feature is an alternative to using CW-20 tokens, which have been criticized for their limitations in interoperability with other systems because they are not native tokens and rely on governance voting. More details about the TokenFactory Module can be found at (it is a direct fork from the audited code of Strangelove (without modifications) 🔁 IBC Callbacks This new middleware allows IBC packages to attach commands or payloads that will automatically invoke functions in applications (such as smart contracts) when packages are received or confirmed. This enables atomic cross-chain operations, such as transferring coins across chains and invoking contracts in the same step, where transactions will not occur if there is an error at any point (all-or-nothing). 📎 More details can be found at 📦 Packet Forwarding Middleware (PFM) PFM allows Babylon to automatically "forward" IBC packages to the destination chain, meaning users can perform multiple cross-chain transactions in a multi-hop manner with just 1 transaction. 📎 More details can be found at 🔐 IBC Rate Limiting To prevent large outflows of assets, such as in cases of market volatility or bridge attacks, Babylon has added a system to "limit the amount of coin transfers via IBC" over a certain period. Initially, it will limit the transfer of BABY tokens to no more than 10% of the total supply within a rolling 24-hour window. For other tokens, this system can be activated through governance voting. 📎 More details can be found at 🗓️ Upgrade Schedule - Testnet: All features are now active at - Mainnet Proposal: Governance proposal to be submitted on June 12, 2025 - Mainnet Upgrade: Actual usage starts on June 16, 2025 📌 Babylon Genesis Validators should closely monitor the proposal as modules and parameters for rate limiting will be added. 🛡️ Security Audit - Babylon places the utmost importance on security. - Informal Systems and Oak Security have been tasked with thoroughly auditing all code. - Reports will be disclosed before the proposal is submitted on the mainnet via Babylon's official documentation page. 🔗 🔗 🔗 🔭 Looking Ahead This V2 upgrade is a significant step for Babylon Genesis as an interchain platform for BTCFi, particularly: - TokenFactory – Easily create native tokens - IBC Callbacks, PFM, ICA – Enhance cross-chain connectivity - IBC Rate Limiting – Strengthen security on a per-coin basis - Developer Experience – Improve protocols and dev teams' ability to create new things more easily and quickly. Babylon is committed to a pragmatic development approach and focuses on user benefits for sustainable growth alongside builders within the ecosystem. 📖 Follow all updates at the Babylon Labs Blog: Source: