October 28, 2024

Stacking DAO Cycle Update: Whales borrowing stSTX on Zest

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

The current annual yield on Stacking DAO stands at 9.40% (based on data from the last two cycles), with over 56M STX in TVL (approximately $100M). Interest in Stacking DAO remains strong, also given by the attractive APY.

The staking yield on STX is higher than that of Solana, Ethereum, and other chains. 🤯

Stacking DAO has been averaging 9.40% APY over the last 2 cycles! 🔥

Holding stSTX is the easiest way to earn a yield on STX, the high-beta play on Bitcoin. pic.twitter.com/lwWME3257O
— Stacking DAO (@StackingDao) October 22, 2024

DeFi Updates Related to Stacking DAO

STX City has made it super simple for token creators to select stSTX holders as airdrop recipients. It has never been easier to tap into Stacks DeFi power users.

Liquid stackers are the power users on @stacks. Consider them for your next airdrop campaign on @stxcity💧🚀 https://t.co/lTkcCWu8Jf
— STX CITY (@stxcity) October 16, 2024

A few whales on Stacks are longing STX beta by borrowing stSTX against STX/stSTX at 0.5% APY on Zest. Proof that stSTX is unlocking liquidity in the ecosystem and enabling new DeFi use cases.

spoke to a few @stacks whales yesterday.

they are longing stx beta by borrowing stSTX against STX/stSTX at 0.5% APY on @ZestProtocol

smart money moves pic.twitter.com/8XNqM02nNf
— tycho.btc (@TychoOnnasch) October 16, 2024

If you want to start your Stacks DeFi journey with Stacking DAO, here is a simple tutorial on how to mint stSTX and earn up to 10% APY on STX in 10 seconds

Curious about Stacking DAO but not sure where to start? 🤔

Check out the step-by-step guide and start earning up to 10% APY with just a few clicks! 🚀 pic.twitter.com/LUlMyrVTmh
— Stacking DAO (@StackingDao) October 18, 2024

The Nakamoto Activation is going live tomorrow at Bitcoin block 867,867, and Stacking DAO is ready for it. The upgrade will enable fast blocks, meaning anyone will be able to mint stSTX and deploy it in DeFi within seconds.

Other initiatives and news related to Stacking DAO

khoanguyen.btc, founder of STX City, shares his perspective on how stSTX has played a pivotal role in unlocking liquidity on Stacks. He highlights how many DeFi protocols, including Bitflow, have benefited from Liquid Stacking.

Bitflow is an aggregator DEX, it has only 5 pools on @Bitflow_Finance, but its user base surpasses other AMMs.
I think the reason is the STX-stSTX pair from @StackingDao, which has $17.6M in TVL.
Building around liquid stacking presents a good opportunity on @Stacks right now.… https://t.co/1vaz9PctVU
— khoanguyen.btc (@khoanguyen_btc) October 20, 2024

The latest "What's Happening on Stacks" thread is live, offering an easy way to stay updated on all the key events and developments on Stacks every two weeks.

What's happening on @Stacks?

Here is everything you need to know about from the last few weeks. pic.twitter.com/EafhzMHu85
— Stacking DAO (@StackingDao) October 21, 2024

If you want to learn more about how sBTC can thrive with the launch of cbBTC and Babylon, while unlocking BTC yield on Stacks through integration with DeFi protocols, don't miss this thread.

The interest in earning yield on BTC has never been so high. 📈

Babylon and cbBTC have quickly attracted ~30k in BTC liquidity.

Yet 99% of BTC remains idle. How can the @Stacks unlock even more Bitcoin liquidity?

The answer lies in sBTC. 🧵 ⬇️ pic.twitter.com/nRFUTXxACJ
— Stacking DAO (@StackingDao) October 24, 2024

Stacking DAO Discord has been buzzing with new activities, including meme competitions, WL/NFT giveaways, Zealy challenges, and more. Congrats to @allaboutstarz, @venta_by, and @minioncult for winning the $100 meme competition prize! Make sure to join the Discord server if interested in these activities.

Stacking DAO community members have been crafting top-notch art and memes featuring the mascot, Mr. Smack. Notably, Stacksy and Tim have created some standout versions!

🟢 PUMP IT UP WITH MR. SMACK! 🟢

Smashing yields and stacking $STX like a true gym beast! 💥
Flex those 9.4% APY gains and get on the #DeFi grind.

💚 Who’s ready to pump their $STX with @StackingDao?

If you are, hit the link below and show me! pic.twitter.com/hJgRaFFmdN
— Stacksy.btc (@Stacksybtc) October 22, 2024

Today, I spent some time with a friend sketching out @stackingDao’s Mr. Smack.

It’s funny how much of Hulk I saw in Mr. Smack — just an onchain version.

Beyond the physical resemblance, I thought about Hulk smashing through barriers in MCU.

Mr. Smack has done the same in… pic.twitter.com/KM3JXP5ieF
— Tim (@_nottim) October 22, 2024

Finally, Stacking DAO has processed another ~199,385.00 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

The latest news, product updates, thought leadership, and more from the StackingDAO team.

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

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