Stacking DAO Cycle Update: stSTXbtc is live!

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

Despite the recent crypto market downturn, Stacking DAO's TVL remains above 54M STX, showing strong demand for STX Stacking rewards within the ecosystem.

DeFi Updates Related to Stacking DAO

stSTXbtc is now live! It's a liquid stacking token backed 1:1 with STX, streaming sBTC to holders' wallets after each stacking cycle.

The main benefits are earning up to 10% APY in sBTC yield & points, retaining STX liquidity with stSTXbtc, and no switching cost / lost yield when moving STX from other Stacking pools.

Zest has already integrated stSTXbtc, allowing users to deposit the liquid stacking token as collateral for borrowing assets all while earning sBTC stacking rewards.

stSTXbtc adoption is growing rapidly, with over 2 million stSTXbtc minted within a week of launch. This underscores the strong demand for BTC yield while keeping Stacked STX liquid.

Need some help on how to mint stSTXbtc? Check the tweet below for a step-by-step video tutorial.

Other initiatives and news related to Stacking DAO

Stacking DAO took part in the "Return to Megapont Apes" and "Return to .BTC" initiatives to unify and strengthen the Stacks community. With Stacks members now using ape PFPs and .btc handles, the ecosystem is growing stronger and more connected

For the latest updates on the Stacks ecosystem, check out the newest issue of "What's Happening on Stacks":

Finally, Stacking DAO has processed another ~136,138.00 STX (for stSTX) and ~0.07976 (for stSTXbtc) in Stacking rewards.

1)stSTX reward transaction

2)stSTXbtc reward transaction

3)stSTXbtc reward transaction

‍

Stacking DAO Details:

Mint stSTX & stSTXbtc 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 Discord community: https://discord.gg/KEQfXJnJYj