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.
Stackers stick around
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.
Stacking keeps growing
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:
Each cycle has had more value locked than the one before it
In each of the past two cycles, the minimum has increased due to increased participation
Each cycle, Stacking has moved up the list in terms of TVL, surpassing protocols like yearn.finance, 1inch, Keep, and others and would currently rank #17 if DefiPulse.com listed it
Stacking has builders buzzing
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)!
Staked, a non-custodial option from the global leader in staking services
Friedger’s Pool, a non-custodial, fee-free option where users can lock for one, three, or six cycles and are paid out in STX
Secret Key Labs launched XVerse, a seamless mobile-first Stacking and wallet experience that offers a Stacking Pool service starting with as little as 500 STX
PlanBetter launched just last week and enables users to Stack starting with 200 STX
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.
Stacking and beyond
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.
Mitchell Cuevas, previously Blockstack PBC's Head of Growth, currently leads Web3 and partnership efforts at the Stacks Foundation. Before joining Blockstack/Hiro/Stacks, he led Marketing at UP Global (Startup Weekend, Startup Digest, Startup Week) and after their acquisition of the global non-profit, became a leader on the product team at Techstars.
← Previous Post
Next Post →
Get more of Stacks
Get important updates about Stacks technology, projects, events, and more to your inbox.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.