Stacking DAO bi-weekly update: From Genesis NFTs to New Points Opportunities

A lot has happened since our last update. Stacking DAO bi-weekly updates is the perfect format for the community to deep dive into the latest news and milestones.

Stacking DAO growth hasn’t slowed down a bit since the protocol launch. In just a month, more than 15000 people minted at least 100 stSTX (within the end of cycle 74) and achieved a TVL of 10+ Million STX.

Currently, the Stacking DAO TVL sits at $21+ Million and has reached 21500+ total users. Actually, in the past 48 hours alone, over $4 million have been deposited into Stacking DAO.

‍Each stSTX mint contributes to the Stacks TVL growth and to the strengthening of the Stacks DeFi ecosystem thanks to integrations with Bitflow and other upcoming collaborations.

The growth of Stacking DAO mirrors the attention it has garnered within the Web3 world. Since the introduction of the point system, the protocol has been featured in various educators’ newsletters and discussions, including The Daily Degen by Rektdiomedes.

StackingDAO has also been featured and highlighted by Bankless as a project worth exploring and engaging with. If you’re a Bankless Citizen, you can already find us within their quests section.

The Genesis NFTs went live with over 15k eligible addresses. The eligible community members didn’t waste any time to get their NFT, leading to 9k mints in just two days. If you haven’t minted your Genesis NFT yet, make sure to do it now on the Stacking DAO website here.

With different points multipliers linked to specific traits, the NFTs have caused a spike in the secondary market, reaching a volume of 6.7k STX in just a day. To purchase or review your Genesis NFT, explore the Gamma marketplace.

There is a 10% commission on Genesis NFTs sales happening on Gamma. The point multiplier is a good reason to hold onto your NFT, so now, you just need to wait for the multipliers to be revealed and enjoy your points boost.

Bitflow has now opened its doors to the public and initiated the migration process for the stSTX pool.
This presents a unique opportunity for the Stacking DAO community. By migrating and escrowing STX-stSTX LPs to the active pools, participants can earn both Bitflow and Stacking DAO points.

Migration to the active pools has many other benefits. First, it will enable future Bitflow features related to stSTX and increase composability. For instance, other swap pairs for stSTX can be created. Moreover, migrations will result in higher LP rewards, as fees will mostly generated by active pools.

Additionally, for Genesis NFT holders, there’s an exciting surprise in store. They will receive a special multiplier within the Bitflow point system. Thanks to Genesis NFTs, you are guaranteed faster points accumulation on both platforms.

As the stacking DAO community is rapidly expanding, we just launched a Discord group. Join us to enjoy a vibrant community atmosphere, follow updates, require assistance, and unlock roles: Join the StackingDAO Discord Server!

‍The Stacking DAO website was updated. It now features:

• An improved landing page
• The possibility of tracking STX-related active positions in the Stacking section
• A comprehensive overview of your accumulated points and how you are faring compared to others
• Monitoring the live and upcoming integrations in the DeFi section.

Finally, Stacking DAO has processed another ~10,485 STX in Stacking rewards.

So what are the Stacking DAO next steps from here?

• More wallet integrations are incoming
• stSTX-sUSDT pool and swaps
• Borrowing with stSTX on Arkadiko 2.0
• stSTX Earn vaults for additional yield
• Share the big plan of how Stacking DAO will contribute towards the network of Stacks Nakamoto signers
• Decentralise, and become the leading contributor to open source Stacking infrastructure

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

‍

‍

‍