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.

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.

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.

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.

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.

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!

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.

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.

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

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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