September 30, 2024

Stacking DAO Cycle Update: Unlocking Liquidity with $51M of stSTX deployed in DeFi

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

Stacking DAO's latest cycle closed with a net inflow of 1.8M STX, boosting total TVL to 56M STX while Stacking rewards remain strong at 9.29% APY based on data from the last two cycles.

🔥 Stacking DAO has delivered an 9.29% APY over the last two cycles.🔥

If you're aiming to grow your STX stack, Stacking DAO provides a high-yield strategy through Stacking rewards while remaining liquid. pic.twitter.com/tQTYDDrTat
— Stacking DAO (@StackingDao) September 24, 2024

These milestones are steadily unlocking the $700M+ STX Stacking market, increasing liquidity in the DeFi ecosystem, and paving the way for new yield-generating use cases.

STX Stacking is a massive $700M+ market. 🤯

Stacking DAO has made 13% of this market ($90M) liquid via stSTX within @Stacks DeFi. 🔥

Let’s dive into the protocol’s growth, stSTX distribution across DeFi, and the benefits of using each protocol. 🔍

🧵 ⬇️ pic.twitter.com/bMthkGc9BJ
— Stacking DAO (@StackingDao) September 19, 2024

DeFi Updates Related to Stacking DAO

Beyond strong TVL and user growth, how is stSTX adoption progressing?

Currently, 48% of available stSTX—over $51M—is deployed by more than 21,100 holders across Stacks DeFi protocols. This highlights the critical role liquid stacking plays in unlocking liquidity within the Stacks ecosystem.

Over $51M worth of stSTX are deployed in @Stacks DeFi! 🤯

48% of available stSTX is deployed by more than 2,100 holders.🔥

The DeFi ecosystem is gaining momentum within the Stacks community.
— Stacking DAO (@StackingDao) September 26, 2024

This statistic prompted the VP of Investments at Animoca Brands and Adrian from Newman Capital VC to express their support for Stacking DAO and the Stacks ecosystem.

Only the beginning. https://t.co/41LHrYtAli
— Jenny @ Animoca Ventures (@jennyqcheng) September 27, 2024

Further evidence of Stacking DAO's growing impact on the Stacks ecosystem is that for every 50 STX in total Stacks volume, Stacking DAO contributed 2 STX according to Signal 21 the analytics platform.

In August, Stacking DAO recorded transaction volume of ~9.5M STX, while the total @Stacks transaction volume was ~482M STX. 📊

This means that for every 50 STX of total Stacks volume, Stacking DAO accounted for 2 STX of volume, according to data from @signal21btc. 🔥 pic.twitter.com/K3lHIUR3EY
— Stacking DAO (@StackingDao) September 17, 2024

To enhance transparency around protocol activity, a Discord bot has been implemented to track large STX deposits, swaps to stSTX, and stSTX DeFi activity. Users recently witnessed an exciting 1M STX deposit!

Large STX deposits flowing into Stacking DAO over the past few days! 🔥

Thanks to @moonlabs_btc integration, you can now track deposits over 1k STX on Discord.

What other on-chain metrics should we start monitoring? 🤔 pic.twitter.com/g40AYafUsZ
— Stacking DAO (@StackingDao) September 19, 2024

The best part? The Nakamoto upgrade is coming on October 9/10, bringing fast blocks and a smoother UX. Users will only need to wait a few seconds to mint stSTX and deploy it in DeFi.

The Nakamoto upgrade is set to go live at Block #864864 (~October 9). ⌛

This will unlock fast blocks and 100% Bitcoin finality. 🔥@Stacks users can expect a major UX boost, with stSTX minting and DeFi interactions taking just seconds. 🤯 pic.twitter.com/7blWsmxjdj
— Stacking DAO (@StackingDao) September 24, 2024

Other initiatives and news related to Stacking DAO

Stacking DAO launched the 'Make Bitcoin Fun Again' Twitter Community, where anyone can stay updated, share insights, and connect with others passionate about Bitcoin L2s, DeFi, Ordinals, and more. Make sure to join it.

Are you interested in Bitcoin L2s, DeFi, Runes, and more? 🤔

Then it's time to join the "Make Bitcoin Fun Again" Twitter community! 🟠

Stay updated, share insights, and connect with others who are passionate about Bitcoin future. 🚀

Join here: https://t.co/jK99MTIESQ pic.twitter.com/gsubHxlha4
— Stacking DAO (@StackingDao) September 17, 2024

The special code for the this cycle update quest on Zealy is: DeFi

At Token 2049 in Singapore, the team took the stage at the Chorus event to educate the crypto community on Bitcoin L2s and how protocols like Stacking DAO are propelling the Bitcoin ecosystem forward

Key takeaways from the @ChorusOne event at Token2049:

"Bitcoin has the potential to evolve beyond a store of value into a thriving digital economy"@TychoOnnasch highlighted how Bitcoin L2s and protocols like Stacking DAO are driving the Bitcoin ecosystem forward. pic.twitter.com/mmhXSeesCf
— Stacking DAO (@StackingDao) September 18, 2024

Finally, Stacking DAO has processed another ~187990 STX in Stacking rewards.

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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 Discord community: https://discord.gg/KEQfXJnJYj

Join Stacking DAO Zealy space to earn rewards and more: https://zealy.io/cw/stackingdao

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