
anymose🐦⬛|Apr 14, 2025 12:53
Unbonding transaction, which will override the time lock condition of the previously pledged UTXO. The built-in 0.00032 BTC in the transaction is paid to the miners of the Bitcoin network for processing this unbinding transaction.
The size of this fee (0.00032 BTC) is clearly defined in Babylon Phase-1 and subsequent stages (such as Cap-3), with the aim of ensuring timely packaging of transactions during network congestion, while avoiding being too low and causing transactions to remain unconfirmed for a long time.
Now you understand, in order to unlock in advance, one must pay a price, which is the security guarantee of the software. The pledge, unbinding, withdrawal, and other operations defined in the script contract must be strictly verified and punished through the verification nodes on BSN according to the rules defined in the script (such as EOTS signature scheme, final round multi signature consensus, etc.) through console operations. ( @tmel0211 )
That is to say, if there is a breach of contract, it needs to be punished, and the punishment requires the assistance of miners to handle it. This part of the gas belongs to the miners, and Babylon cannot get a penny.
If there is still a bit of confusion, please allow for alignment:
Canary=BTC or BTC Major
Farmers/free range chickens=individual investors or small amounts pledged
Businessman=Market Demand
▰ Birdcage=UTXO Script Contract
Rural projection room=BSN network
Sender=BSN verification node
In this way, allowing free range chickens to use high-tech canary cages comes at a cost. Either complete the 15 month contract period, or end it early and accept the penalty of paying to find a messenger to widely advertise and unlock it in advance. This is what was said at the beginning:
Mismatched
If the Babylon team is Victor and Babylon's products are weirdos, then this plot may be similar. The expectations were good, but the ending did teach all the participants a lesson in the most painful way: "How I achieved self custody and BTCFi in the face of millions of farmers' huge losses".
This may be a Geek adventure, but the allocation method, market environment, and team's comprehensive abilities have created a farce, turning the hopes of the entire village into forgetting their roots.
Is the Babylon team intentional? I will never make any speculations. When they came up with $3 million to subsidize Gas, I was thinking, if I had known this, why bother in the first place?
Perhaps there are indeed roles of merchants, perhaps they also have unspoken secrets in their small rooms, but the ups and downs of the tide seem to never be known by anyone.
Of course, there is no bird to say. The sun rises as usual, and the canary is still that canary.
<End of Full Text>
@anymose96
Note: Fictitious plot, if there is any similarity, is indeed similarity and does not constitute any investment advice. The plot setting is only for technical understanding and does not constitute any conspiracy theory speculation outside of technology.
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