appears that majority of stake in babylon is via two LST providers - Lombard and Solv
45% of stake is managed through @Lombard_Finance finality providers (in collab with other orgs)
afaict, bitcoin finality providers are essentially responsible for time stamping bitcoin on behalf of babylon genesis (a POS L1 with its own token)
i think bitcoin staking will be incredibly commoditized, centralized, and mostly an institutional play. people want LSTs generally
i'd be curious on the % of Lombard's stake is through LSTs versus natively, delegated stake
i'd guess 75% is via LSTs
i don't think this is bad either. time stamping is a service that finality providers provide to PoS chains. the stake is slashable if they are malicious (albeit by a federation). and, institutions can lock bitcoin into staking scripts for yield opps for their clients, while mitigating custodian risk
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