cipherz.btc

Excited to `buidl` on bitcoin!

[Jeff @stackatron]

BSD can be looped to multiply Dual Stacking yields.

In this demo I looped BSD → sBTC 5 times, resulting in ~22.5% APY on sBTC.

Full details + calculator below 👇

[cipherz.btc @cipherzzz]

@bsdmoney @bitflow Lets go! @bsdmoney

[BSD | Based Dollar @bsdmoney]

🚨 sBTC/BSD trading pool is live on @bitflow

Very excited to announce our first trading pool. Bitflow will give BSD more liquidity, tighter peg behavior, and better tools for borrowers.

Bitflow already has the deepest sBTC liquidity on Stacks, making them an ideal partner for BSD. Let’s dive into the key benefits from this pool:

💵 Peg maintenance via arbitrage

BSD/sBTC liquidity helps arbitrageurs maintain the BSD peg.

– If BSD < $1 → buy BSD on Bitflow, redeem for $1 of sBTC via BSD vaults.
– If BSD > $1 → mint BSD against sBTC, sell into the pool.

This is a proven mechanism that allowed Liquity to maintain their peg for the last four years.

🔄 Looping and leverage

With the Bitflow pool, borrowers can loop BSD: Borrow → Swap to sBTC → Add collateral to vault → Borrow more. This is not paper leverage, the actual sBTC backing your loan, and earning dual-stacking yield, increases each loop.

Looping does add risk: you would need liquidity to unwind and a more aggressive collateral ratio. DYOR; this is not recommended for conservative borrowers.

⚖️ Swap into other Stacks assets

BSD already offers the cheapest Bitcoin-backed loan in existence. Now you can multi-hop into any Bitflow-routable SIP-10 asset and put those borrowed dollars to work—for example: BSD → sBTC → STX to earn Stacking yield.

↗️ Exit to exchanges or fiat

Need dollars off-chain without selling BTC? You can borrow BSD, swap back to sBTC, and then exit to any exchange and from there to dollars. More routes should become available as Stacks upgrades USDC and liquidity increases.

Huge thanks to the Bitflow team!

Trade sBTC/BSD at https://t.co/xY0TlucQPO

[BSD | Based Dollar @bsdmoney]

BSD has integrated Dual Stacking 🔥

sBTC collateral locked in vaults now earns 5% sBTC yield. Same collateral, two jobs: Secure your credit line and earn Bitcoin yield.

Vaults will start earning with next Stacking cycle, around Dec 3, with the first yields appearing ~Dec 17.

[Granite - Never sell your bitcoin @GraniteBTC]

ANNOUNCING: Granite, a new era for Bitcoin lending.

We're building a Bitcoin lending protocol that Bitcoiners will actually want to use. Non-custodial bridges. Push notifications. No rehypothecation.

Here's how Granite is reinventing Bitcoin liquidity 🧵

[cipherz.btc @cipherzzz]

@GraniteBTC Awesome! Can't wait to try it out

[muneeb.btc @muneeb]

The Nakamoto revolution is coming 🟧

[Stacking DAO @StackingDao]

Bitcoin L2s like @Stacks are sparking a Bitcoin Renaissance, aiming to unlock trillions in BTC liquidity.

For an in-depth analysis of Bitcoin L2s and the future of Bitcoin, check out @LeeorShimron's latest @ForbesCrypto article.

https://t.co/jtza6LXnuC

[muneeb.btc @muneeb]

Details for the Nakamoto rollout are out!

- On Aug 28th, the final code for Nakamoto will be shipped to network operators, and the activation window will open.

- The final binary released on Aug 28th must pass *all* testing and that is on-track. Enormous effort by the core devs!

- Network operators will have one stacking cycle (cycle 92) to upgrade. After a successful signer handoff from cycle 92 to cycle 93, core devs will pick a final hard fork block number which ends the activation window and full Nakamoto will be live!

- The sBTC launch remains on-track to follow roughly 4 weeks after Nakamoto.

Nakamoto is the most significant upgrade of Stacks since the project started. Ripping out a consensus system and upgrading to a new one mid-air is no small feat. This upgrade is comparable in complexity, in certain ways, to when Ethereum went from PoW to PoS i.e., a completely new consensus took over from legacy one.

During part 1 of the Nakamoto upgrade, one billion+ of capital unlocked from the legacy system and locked into the new one. Part 1 went smoothly because of the careful planning and rigorous testing done by the core devs.

Now that we’re almost at the finish line with final binaries on-track to be released on Aug 28th, the core devs will optimize every step for a smooth and rigorously tested Nakamoto rollout. We’re proud of our focus on safety and precision; these values show up in the design of Clarity contract language to rollout plans.

The Nakamoto finish line is visible now! It’s time to build on Bitcoin 🟧

[cipherz.btc @cipherzzz]

@stackatron LFG!!!

[cipherz.btc @cipherzzz]

@lancewallnau No probably because the world’s eyes aren’t fixed on Lima, Ohio right now

[cipherz.btc @cipherzzz]

@bbjessTTV @EnterInfiniteIR @Rodric_David @tigernole9095 @David_Hickson Hey, I joined IR after the merger - I think you got paid recently - sorry it took so long. I sent a message to the team when I found out about it.

[Patrick Sankey @PatrickSankey]

Yesterday @Coreprotectio and I presented our vision for a commodity reserve standard currency that brings integrity back to money. Our presentation was part of the @reserveprotocol hackathon at #EthereumDenver #ETHDenver2023

[cipherz.btc @cipherzzz]

@binance Buy my kids Christmas presents

[cipherz.btc @cipherzzz]

This is the kind of metaverse you get when your primary indicator for hiring a developer is whether you can traverse a binary search tree or graph...

[cipherz.btc @cipherzzz]

@IntoTheMetaPod - I love the content but you guys cutoff the guests way too much. In the last episode, the guest was talking about what he was passionate about and you just cut him off. News flash, I listen to the podcast for the guests not to hear what super social is doing.

[cipherz.btc @cipherzzz]

@TeamYouTube please give https://t.co/GTWBFaM18V live-streaming back - we need his content!

[cipherz.btc @cipherzzz]

I've been working on a `Production Smart Contract Security` series for a while now. Here is Part 3 of the series that details how to use a Gnosis multisig along with OpenZeppelin Defender to further secure your smart contract deployments. https://t.co/RVrHnBr48u

[cipherz.btc @cipherzzz]

@ledgerstatus Homeboys earned this midlife crisis - I’m here for it.

[cipherz.btc @cipherzzz]

@johnbai My god, people. This isn’t ibm in the 80’s - average time at a job is like 18 months these days. Especially for a dev - move on!