June 5, 2024

Stacking DAO Bi-Weekly Update: $560k in Stacking rewards over two cycles

Stacking DAO bi-weekly updates is the perfect format for the community to explore the latest news and milestones.

Stacking DAO has generated an impressive $560k in Stacking rewards over the previous two cycles, providing significant yields for its community.

The protocol continues to be the top DeFi app on Stacks with a $100M+ TVL and around 35,000 total users. It also retains its position as the most frequently utilized dApp on a weekly basis, as reported by StackPulse.

But can Stacking DAO grow further to reach giants like Lido and Jito?
Growth and metrics comparison since Stacking DAO launch give an insight:

DeFi Updates Related to Stacking DAO

It’s now well-known that stSTX is solidifying its position as the leading DeFi asset on Stacks, especially as new stSTX usecases emerge.

For instance, with Zest enabling stSTX borrowing, users can now earn a yield on their stSTX deposits and borrow more of it for leverage strategies.

This means that it’s possible to earn Zest yield and points, Stacking DAO points, and Stacking rewards by depositing on Zest.

In general, how can the Stacks community earn points and yield from multiple DeFi apps with stSTX? The thread below will be your guide:

Over the week, Blockdaemon, the #1 infra solution for staking, joined the Stacking DAO signer network.

Their knowledge as node operators will bring value to the Stacks ecosystem and further decentralize the Signer network.

The special code for the Galxe quest is: StackingDAO#1. The quest can be found here.

Other initiatives and news related to Stacking DAO

Stacking DAO attended Consensus 2024 to showcase Stacks leading liquid stacking protocol:

Grayscale also announced an STX Trust, which is the first step towards an ETF listing and, in the short term, will lead to more ecosystem inflows.

More investors getting familiar with the ecosystem is key, and as they get into DeFi, Stacking is the simpler use case to start interacting with.

Appreciating community educators such as:

Scorpy for his acknowledgment of the importance of Stacking DAO in the security and decentralization of Stacks.

Stacksy for her guide on how to get started with Stacking DAO:

Adrian, for appreciating Stacking DAO and Stacks DeFi apps with regards to better UI/UX designs than other Defi apps on other chains:

Fracture for showing Stacking DAO constant growth and impact on security:

iiaone posted on the significant surge in unique user engagement and interactions on Stacking DAO:

Roman K for explaining the importance of Stacking DAO for liquidity growth within Stacks:

Algorithm for sharing about Stacking DAO Galxe quests:

Finally, Tim’s post highlights Stacking DAO’s recent achievements:

Finally, Stacking DAO has processed another ~161,395.50 STX in Stacking rewards.

Stacking DAO Details:

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

Follow us on Twitter to always be up to date on Stacking DAO: https://twitter.com/StackingDao

For any questions or support, join our Telegram community: https://t.me/+0jPjegAOoMwyNTU0

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