Stacking DAO: the first 4 weeks since launch

It’s been 4 weeks since Stacking DAO launched. Time to recap and look at what’s next.

Stacking DAO is a Liquid Stacking Protocol on Stacks, allowing users to earn native up to 10% yield on their STX, while keeping liquidity in stSTX.

We started from the humble beginnings of a Stacks Foundation grant last summer and had a budget of $0 by launch. The founders chipped in with personal funds to pay for the successful Coinfabrik audit, as well as the incorporation.

On Monday 18th December, we were ready to launch. It was almost Christmas and we expected a quiet launch, but oh we were wrong. 2000 unique deposits in week one, $10m TVL within the first Stacking cycle and the Telegram community exploded to 2000 users.

Soon after launch, Stacking DAO launched the first points system on Stacks. 1 point per stSTX held per day, 1.5 points per stSTX held in a DeFi protocol per day, 2.5 spoints per stSTX held on a stableswap per day. People started to notice.

Liquid Staking is all about liquidity, so we launched the stSTX-STX pair on Bitflow roughly 2 weeks in. Thanks to the points system and the dedicated Stacking DAO community, liquidity grew to over $2m in the blink of an eye.

Then, Stacking DAO became the second largest DeFi protocol on Stacks.

At the end of the second Stacking cycle Stacking DAO is at >$13m TVL. Stacking DAO also processed it’s first ~14,600 STX in rewards amid some very epic Stacks chain congestion. All systems operational.

1. Stacking Rewards-1
2. Stacking Rewards-2
3. Stacking Rewards-3

Stacking DAO has found some great partners in the Stacks community with more to come. We partnered together with the leading Bitcoin wallet XVersefor in-app stacking, as well as with Asigna — the multisig for Stacks and Bitcoin.

Then most recently, the Stacking DAO points dashboard went live — everyone can now track their points. Points are used to measure community involvement ahead of the launch of decentralised governance. Happy stacking!

So what’s next?

There are big plans for the coming weeks.

1. The Genesis NFT drop. Over 15,000 addresses qualify for the Genesis NFT, making this the biggest drop on Stacks to date.
2. Bitflow and the stSTX-STX pair will open to the public very soon (with some spicy Bitflow points rewards for existing LPs we’re hearing)
3. stSTX-sUSDT swaps
4. More wallet integrations
5. Lending/borrowing against stSTX
6. stSTX Earn vaults for additional yield
7. Share the big plan of how Stacking DAO will contribute towards the network of Stacks Nakamoto signers

Thank you for being part of Stacking DAO and see you in the next update at the end of cycle 76.

Mint stSTX today 👉 https://app.stackingdao.com/

Stacking DAO Details:

‍Mint stSTX today and earn up to 10% yield on your STX: https://app.stackingdao.com/

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