NEW: Featuring the top @Stacks voices ✨
Every week, the 10 most active public voices in the Stacks ecosystem, ranked by message volume across the panel.
Shout out to the current top 10 💚
See the list live ↓
https://t.co/ObPPU0SnXH
Data from the first-ever bitcoin bond is in:
- Demand side sold out! Every institutional partner maxed out their capacity allocation. 21Shares, Nakamoto (through UTXO), and HashKey among early partners.
- 230 BTC enrolled in bonds. They start earning 3% BTC yield starting tomorrow! Weekly automated payments in BTC.
- New STX proportional to 230 BTC (so approx 11.5 BTC worth of STX got locked for 6 months for the bonds). We saw 20M additional STX locked from the last cycle. More STX locked is generally a healthy sign for network growth and holders.
- Next bond in roughly 4 weeks (around Oct 10). We’ll likely release larger bitcoin capacity for bond 2. This bond was limited in size to test out institutional flows on the live product. Several great learnings from working with institutional partners to help polish the UX for the next bond.
We believe this yield can become a “fed rate” equivalent for bitcoin. A $100B-$200B potential market for BTC that can earn yield in a self-custodial way.
More importantly, such a native yielding product sends flows into onchain bitcoin capital markets on Stacks. We already saw this with bond 1, where DeFi apps like Zest and pools like Fast Pool and Xverse saw increased traffic.
The value accrual to STX dynamics is now live, and proof is onchain with locked STX.
Now we scale it with capital flows. Forward!
🚨 $STX GLOBAL NEWS
Bitcoin staking infrastructure is expanding. 🟠⛓️
HashKey Cloud has joined Stacks as a launch partner for self-custodial Bitcoin staking.
The partnership adds institutional infrastructure to Stacks’ Bitcoin ecosystem and pushes new use cases around BTC.
#STX #Stacks #Bitcoin #BTC #Crypto #Web3 #Blockchain
800 BTC now sits on the Zest Protocol Stacks market.
Supplied, borrowed against, staked, and looped. The largest BTC lending market on @Stacks keeps compounding.
Stacks will literally be giving away a quarter million dollars starting next week.
And three of the largest bitcoin companies in the world will be deploying capital on @Stacks.
$STX is going Top 10 @CoinMarketCap. Bookmark it.
🔔 HashKey Cloud has officially joined @Stacks as a launch partner for user self-custodied Bitcoin staking.
As part of the collaboration, HashKey Cloud will:
1️⃣ Participate in the inaugural Stacks Genesis Bond
2️⃣ Join the signer set securing sBTC
HashKey Cloud provides institutional-grade node operations and staking infrastructure across more than 40 blockchain networks.
More details 👇
https://t.co/kvO6c2wyWz
#HashKeyCloud #Stacks #sBTC #BitcoinStaking #Bitcoin
Thoughts on the Liquid whitehat incident:
Background:
- Liquid is a Bitcoin L2/sidechain, launched by Blockstream in 2018. 4,000 BTC from their bridge was taken by a whitehat yesterday (and then mostly returned).
- You can think of the Liquid network as running a fork of Bitcoin Core (called Elements). Elements added new features such as confidential transactions, other assets, BTC peg in/out, and new opcodes.
- The bug seems not to be a cryptography one but in integration logic. Bug A was there for years, was recently patched, and the patch likely introduced Bug B, which was exploited.
- I’m glad this was a whitehat, and most of the funds have been returned. Could’ve been much worse if an actual attacker.
Learnings:
- There should’ve been rate limits in place both at the swap service and peg out. There likely were some limits that didn’t trigger. Such rate limits and time delays can drastically reduce the potential damage.
- It’s clear that we’re in the age of AI-driven security wars. The new capability of these models is forcing us to discover bugs that went undetected for years. Overall, this will be a net positive, even if short-term painful.
- Both the earlier Zcash bug and this Liquid one reinforce how keeping Bitcoin simple and hardened is the right call. If anything, we should be pushing for Bitcoin ossification.
Stacks security:
- I got several questions about Stacks. We also have a bridge for sBTC. The exact Elements bug isn't applicable here, as Stacks doesn’t use Elements. For any bridges or DeFi apps, security should be priority #1. Stacks devs actively run frontier AI models (both open-source and from frontier labs) on our repos. We also have active bug bounty programs with Immunefi and others. Our regular security audit reports are also available publicly.
- Even with the emphasis on security, AI model testing, audits, etc, for over a year, Stacks devs have been pushing in the long-term direction of self-custodial solutions. The Bitcoin bonds/staking upgrade keeps the BTC deployed fully self-custodial (no bridge or smart contract risk). Further, new approaches to self-custodial lending and other areas are in the R&D stage right now.
Summary:
Running the absolute latest AI models on sensitive repos is job #1 for crypto devs. We’ll see a short-term increase in discovered bugs but get hardened systems and healthy practices in the long term.
Stacks is now heavily focusing on self-custodial solutions for bitcoin capital markets, while relentlessly doing defensive security testing/audits on existing infra.
The Liquid incident should be a wake-up call to take AI threats extremely seriously, even at Bitcoin Core (we’ve done some work on this). We should ossify Bitcoin Core and keep it as simple as possible; all new bitcoin functionality can be built on layers like Stacks. Forward!
Ankr helps secure sBTC as BTC moves in and out of Stacks.
Building on Bitcoin Layer 2s like Stacks?
Then Ankr's Bitcoin Secured Infrastructure has you covered.
https://t.co/kZJkC4V6jH
Not this exact thing; stacks doesn’t have confidential transactions.
With that said, all bridges and smart contracts are vulnerable to bugs. In the age of AI you really need to stay on top of proactive security. Stacks devs runs AI models on our repos continuously. We get regular audits (all available publicly). And in the long-term focusing on self-custodial approaches to yield, lending etc, like the recent Bitcoin bonds/staking launch.
Self-custodial solutions don’t have this type of a risk.
🚨BREAKING: Bitcoin staking is LIVE NOW on Xverse.
We know there will only ever be 21,000,000 Bitcoin. Until now you got a bigger share of it two ways. You could mine it, or buy more.
Now, there's a third way. Put the Bitcoin you already hold to work and get paid in more Bitcoin, leveraging fee-efficient sBTC on @Stacks.
NEW: Asia's No. 1 staking provider @HashKeyCloud is extending its partnership with the Stacks ecosystem.
They will be both a Bitcoin Staking launch partner and sBTC signer, helping secure how Bitcoin moves between the base layer and Stacks. Welcome, @HashKeyGroup 🤝
🟠 Now live 🟠
Levered Bitcoin Staking on @Stacks.
This Vault one click loops stBTC into more Bitcoin Staking yield. No manual borrowing, no rebalancing.
The issuer of the world's largest suite of crypto ETPs is joining Bitcoin Staking on Stacks.
@21shares will stake its own Bitcoin treasury in the inaugural institutional cohort, the Stacks Genesis Bond, launching ~September 10.
Bitcoin is becoming a productive asset on Stacks.
1/2 📣 New digital asset listing: @Stacks (blockstack:native), the native asset of the Stacks network, and $sBTC, are now available to trade on Bullish in eligible regions.
Available pairs:
◾STX/USDC
◾sBTC/USDC
◾sBTC/BTC