Nexus Mutual will provide slashing protection insurance for the Babylon Bitcoin staking network.

According to Foresight News and reported by The Block, Nexus Mutual is developing a slashing protection product for Babylon's Bitcoin staking mechanism, targeting individual stakers and institutional users. The product aims to provide greater security for Bitcoin holders participating in staking. Babylon launched its Genesis mainnet this month, with approximately 45 thousand Bitcoins currently staked.