In just over two months, Stacking has paid out more than $8.5M in BTC via Stacking rewards. And while Stacking, at over 21%, is by far the highest Bitcoin APY we’ve been able to find, it’s about much more. Stacking helps secure the Stacks network, attracts new users to crypto, is helping people earn Bitcoin at a time when supply on exchanges is at a two-year low, and is pushing the whole Stacks Ecosystem forward.
We believe Stacking is already (and will continue to be) a key first step for new users and contributors as the Stacks Ecosystem continues to grow. Let’s review a few things we've learned from the first 5 cycles of Stacking since the launch of Stacks 2.0 in January to explore why we think that just a bit further.
Courtesy of OKCoin’s recent survey, we learned that Stacks users are really bullish on the long-term value of Stacks (and Bitcoin, of course). The survey found that over half (53.1%) would prefer to Stack their STX for 12 cycles, the maximum allowable by the protocol. For context, that’s roughly 6 months!
Based on this survey and other user feedback, OKCoin used Cycle #4 to make a number of changes to their Stacking options and to celebrate they are rewarding all customers who take part in the fifth cycle through with a minimum of $10 in Bitcoin. Start Stacking with OKCoin now.
In spite of the fact that new Stacking providers (learn about them below) have only recently come online, the demand for Stacking has steadily increased since the start:
Not only is Stacking growing and getting BTC into the hands of users, it’s created exciting momentum in the form of new products to serve Stacks holders. When Stacking launched, there were two options: Use the Stacks Wallet yourself or join OKCoin’s pool. In the past month, 4 new Stacking options have come online, with at least two more opening soon (including Boom which is testing Stacking NFTs)!
Find all these providers and additional details about fees and timing here: stacks.co/stacking
For more stats and insights on Stacking, check out stacking.club.
Watch this space closely over the next 1-2 months, we’re aware of numerous teams working on really fascinating flavors of Stacking and related use-cases in everything from music to charity and can’t wait to see it all come to fruition.
And for you Stackers out there, thank you. Your participation is fueling excitement and momentum that will support the Stacks ecosystem for years to come.
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