First-depositor / share-inflation guard
Babylon Protocol's assessment for RD-F-075 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
Each BTC stake in Babylon is a discrete, independent Taproot UTXO on Bitcoin mainnet. There is no share pool, no cumulative totalAssets() call, and no first-depositor mechanism. The Cosmos SDK x/btcstaking module tracks delegation accounting natively — no ERC-4626 share arithmetic is involved. The canonical first-depositor inflation attack vector (share minting on zero-totalSupply) does not exist in this architecture. Taxonomy PD-024: first-depositor guard is lending-only.
Sources #
- GitHubbabylonlabs-io/babylon — x/btcstaking modulex/btcstaking module — BTC delegation tracking via Cosmos SDK key/value store, not ERC-4626 share mintingretrieved 2026-05-04
- Babylon staking-script.mdBabylon staking-script.md — each stake is a discrete Taproot P2TR UTXO output; no pool/share modelretrieved 2026-05-04
Methodology #
Determine whether the vault has a first-depositor guard (seed deposit on deploy, virtual-share offset, or floor-check).
See the full factor methodology and distribution across all protocols →