June 5, 2024

Stacking DAO Bi-Weekly Update: $560k in Stacking rewards over two cycles

Stacking DAO bi-weekly updates is the perfect format for the community to explore the latest news and milestones.

Stacking DAO has generated an impressive $560k in Stacking rewards over the previous two cycles, providing significant yields for its community.

Stacking DAO generated ~$560k Stacking rewards in the last 2 cycles 🔥

The protocol is earning a ton of yield for its community. 😉 pic.twitter.com/rei4lWL6zL
— Stacking DAO (@StackingDao) May 24, 2024

The protocol continues to be the top DeFi app on Stacks with a $100M+ TVL and around 35,000 total users. It also retains its position as the most frequently utilized dApp on a weekly basis, as reported by StackPulse.

But can Stacking DAO grow further to reach giants like Lido and Jito?
Growth and metrics comparison since Stacking DAO launch give an insight:

.@LidoFinance and @jito_sol lead Liquid Staking on Ethereum and Solana, with TVLs of $36B+ and $1.8B+.

Stacking DAO has $100M in TVL, but can it reach these giants?

Let's compare their growth and metrics with Stacking DAO's rise since launch. 🧵⬇️ pic.twitter.com/jm72HGG1xy
— Stacking DAO (@StackingDao) May 30, 2024

DeFi Updates Related to Stacking DAO

It’s now well-known that stSTX is solidifying its position as the leading DeFi asset on Stacks, especially as new stSTX usecases emerge.

For instance, with Zest enabling stSTX borrowing, users can now earn a yield on their stSTX deposits and borrow more of it for leverage strategies.

This means that it’s possible to earn Zest yield and points, Stacking DAO points, and Stacking rewards by depositing on Zest.

on your mark, get set, BORROW stSTX🎉🎉🎉

stSTX borrowing has been enabled on Zest Protocol!

let us know in the replies what degen strategies you plan to pull off with this new unlock - the best one just might win a reward👀 pic.twitter.com/Q1cQRDkDsl
— Zest Protocol 🍊 (@ZestProtocol) May 30, 2024

In general, how can the Stacks community earn points and yield from multiple DeFi apps with stSTX? The thread below will be your guide:

Want to earn points & yield from multiple @Stacks DeFi apps at once? 🤩

Stacking DAO is the perfect starting place to earn points on @HermeticaFi, @Bitflow_Finance & @ZestProtocol. 💪

Here's a guide for all the DeFi lovers and point degens. 🧵 ⬇️ pic.twitter.com/qAMedqMIZz
— Stacking DAO (@StackingDao) May 28, 2024

Over the week, Blockdaemon, the #1 infra solution for staking, joined the Stacking DAO signer network.

Blockdaemon is thrilled to be a part of @StackingDAO’s Signer network. Stacking DAO is a liquid “stacking” platform handling the technical side of delegating #STX tokens. Users who #stack STX tokens with a Signer like Blockdaemon receive rewards in #BTC. https://t.co/Snx434QbhM
— Blockdaemon 😈 (@BlockdaemonHQ) May 23, 2024

Their knowledge as node operators will bring value to the Stacks ecosystem and further decentralize the Signer network.

The special code for the Galxe quest is: StackingDAO#1. The quest can be found here.

Other initiatives and news related to Stacking DAO

Stacking DAO attended Consensus 2024 to showcase Stacks leading liquid stacking protocol:

Stacking DAO will be attending @consensus2024! ✈️

If you will be in Austin from May 29-31, reach us out to learn about the leading Liquid Stacking protocol on @Stacks. 🤝

We look forward to seeing and hearing from all of you. pic.twitter.com/oFpmbHNRfM
— Stacking DAO (@StackingDao) May 28, 2024

Grayscale also announced an STX Trust, which is the first step towards an ETF listing and, in the short term, will lead to more ecosystem inflows.

More investors getting familiar with the ecosystem is key, and as they get into DeFi, Stacking is the simpler use case to start interacting with.

The @Grayscale STX Trust is the first step towards an STX ETF listing.

More inflows and attention on @Stacks are a net positive for its DeFi ecosystem. https://t.co/Fr1NXTiRp6
— Stacking DAO (@StackingDao) May 24, 2024

Appreciating community educators such as:

Scorpy for his acknowledgment of the importance of Stacking DAO in the security and decentralization of Stacks.

Stacksy for her guide on how to get started with Stacking DAO:

New to @Stacks?

💰Here’s a guide on how to start earning interest on your $STX with @StackingDao. pic.twitter.com/kSRet7p192
— Stacksy.btc (@Stacksybtc) May 24, 2024

Adrian, for appreciating Stacking DAO and Stacks DeFi apps with regards to better UI/UX designs than other Defi apps on other chains:

Ngl I been using all these Bitcoin / Stacks DeFi, @StackingDao, @Bitflow_Finance, @HermeticaFi, @LiquidiumFi, @ZestProtocol, and of course with @XverseApp. IMO the UI / UX is even better than the DeFis on other chains, much better than the Ethereum DeFi summer several years back.…
— Adrian (@adriannewman21) May 25, 2024

Fracture for showing Stacking DAO constant growth and impact on security:

Liquid Staking your $STX with @StackingDao increases network security and decentralization 🔒

… and their TVL on continues to 🚀🚀🚀

⬆️ TVL = ⬆️ Long-term interest, security, network relevance

🟧 From @signal21btc real time data 🟧 pic.twitter.com/HcTYDXPg7M
— fracture.btc (@fractured_data) May 21, 2024

iiaone posted on the significant surge in unique user engagement and interactions on Stacking DAO:

StackingDao according to @stackspulse, Stacking DAO has seen a significant surge in user engagement, with 2,704 unique users interacting with the platform over the past week.

Which proves @StackingDao is crucial to the Stacks ecosystem, significantly boosting TVL.

Stacks… pic.twitter.com/qVkrX6GXSV
— iiaonΞ // 1%. 🧙🏿‍♂️ (@iiaone) May 26, 2024

Roman K for explaining the importance of Stacking DAO for liquidity growth within Stacks:

The real key to Stacks DeFi - $stSTX @StackingDao's liquid stacking is like fuel for the Stacks ecosystem blooming

Look at Stacking DAO TVL growth, which means more liquidity is flowing into Stacks DeFi

This growth is really important for the development of other Stacks apps🟧 pic.twitter.com/zHyWfTV7DQ
— Roman K (@neddfil) May 28, 2024

Algorithm for sharing about Stacking DAO Galxe quests:

Community rewards are here 🚀

Join StackingDao campaign on Galxe. Complete these easy follow + & retweet 🔃 tasks &:

🔹 Earn points on Galxe (different from StackingDAO points)

🔹 Grab weekly rewards and raffle prizes 🎁 🏆

👉 https://t.co/wBIpiGdu9Z pic.twitter.com/YaCuHGKxr9
— Algorithm.btc (@godfred_xcuz) May 23, 2024

Finally, Tim’s post highlights Stacking DAO’s recent achievements:

I'm impressed by how well protocols on Stacks are doing. @StackingDao alone peaked at 11M+ STX deposits in 28 days.

The daily stat is even more impressive:

429k+ STX in just one day.

Assuming an equal deposit rate, roughly 298 STX were deposited per minute.

Steady lads!… pic.twitter.com/gOp3yiUFp2
— Tim (@_nottim) May 28, 2024

Finally, Stacking DAO has processed another ~161,395.50 STX in Stacking rewards.

Stacking DAO Details:

‍Mint stSTX today and earn up to 10% yield on your STX: https://app.stackingdao.com/

Follow us on Twitter to always be up to date on Stacking DAO: https://twitter.com/StackingDao

For any questions or support, join our Telegram community: https://t.me/+0jPjegAOoMwyNTU0

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