February 26, 2024

Stacking DAO bi-weekly update: $60M of liquid STX unlocked

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

StackingDAO TVL has risen to $60 million, which marks a new liquidity record for the protocol.
Furthermore, nearly 2000 new users have deposited STX within the past two weeks, increasing the total user count closer to 25,000.

Stacking DAO TVL just hit $60M+ 🎉

This milestone is not just a number; it means more STX to be deployed in DeFi, driving the ecosystem forward pic.twitter.com/jafWROF7jT
— Stacking DAO (@StackingDao) February 19, 2024

But Stacking DAO is more than simply making Stacked STX liquid; it’s about creating new opportunities in the Stacks DeFi ecosystem and empowering a Bitcoin DeFi summer.

For instance, Newman Capital announced they deposited $1M+ into StackingDAO and deployed the minted stSTX in the STX-stSTX pool on BitFlow. They are also exploring borrowing against stSTX in Arkadiko 2.0.

This is just a glimpse of the activity and growth Stacking DAO can unlock for Stacks.

1/ 🚀 Newman Capital’s Exciting Journey in Bitcoin DeFi

As pioneers in the BTC and Stacks ecosystem, we are thrilled to announce deeper engagements and strategic collaborations within our portfolio, including @StackingDao & @Bitflow_Finance, driving innovation and accessibility… pic.twitter.com/5dS0tnBTzq
— Newman Capital (@Newmancapitalvc) February 20, 2024

The DeFi news related to Stacking DAO are not over yet, as the stSTX-sUSDT trading pair is live on Bitflow. Now, everyone can easily swap their stSTX for sUSDT and vice versa.

Swaps between stSTX-sUSDT are now live on Bitflow!

Expanding the trading pairs options unlocks greater potential for Stacks DeFi activity.

Expect more pairs to come out soon. 👇 https://t.co/kF6vIMZdY0
— Stacking DAO (@StackingDao) February 22, 2024

Even Stacks recognizes the protocol impact on Stacks DeFi growth as the stSTX pool is responsible for 98% of Bitflow TVL and helped Stacks break the $100 Million TVL milestone.

Stacks breaks the $100 TVL milestone 🧡

- Reported by @DefiLlama

Thanks to the new listing of @Bitflow_Finance and the community's efforts to its @StackingDao stSTX <> $STX liquidity pool. pic.twitter.com/JOCRtiDHaj
— stacks.btc (@Stacks) February 16, 2024

Multiple protocols have recently hinted at stSTX integration once live. One of them is Zest Protocol, a lending market that went live today and enables leveraging strategies by borrowing against stSTX.

You can find the other DeFi protocols interested in benefiting from Stacking DAO liquidity by looking at the Stacking DAO X account.

levering up on @Stacks markets on @ZestProtocol mainnet

opening this thing soon ✨ pic.twitter.com/qGyHsBxTmB
— tycho.btc (@TychoOnnasch) February 24, 2024

Stacking DAO was also featured in the Messari “State of Stacks Q4 2023”report for its rapid TVL dominance growth and its contribution to the increase in network activity.

State of @Stacks Q4

Key Update:
Stacks emerged as the leading Bitcoin layer, and may solidify this role with the upcoming Nakamoto upgrade and sBTC.

QoQ Metrics 📊
- STX ⬆️ 199%
- Stacks revenue ⬆️ 3,386%
- TVL ⬆️ 363%

Read the report for free 👇https://t.co/MBzi8sLg9t pic.twitter.com/zbLPvDkyrV
— Messari (@MessariCrypto) February 15, 2024

During Building on Bitcoin, a huge virtual event hosting Bitcoin builders and leaders, an entire panel was dedicated to Liquid Stacking.

Key discussions were held around Stacking DAO and Liquid Stacking protocols' crucial role in bootstrapping a DeFi network.

Stacking DAO also joined El Chapo AMA to educate his audience about the future of Bitcoin.

Liquid Stacking is a building block of any DeFi ecosystem to unlock liquidity.

Listen to @TychoOnnasch talk about the importance of Liquid Stacking at Building on Bitcoin. 📢👇 pic.twitter.com/4wr1zPl5wm
— Stacking DAO (@StackingDao) February 23, 2024

Finally, Stacking DAO has processed another ~13,851 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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