Stacking DAO bi-weekly update: DeFi yield opportunities and $80M TVL

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

Stacking DAO has reached a significant milestone by hitting a TVL of $80M. This accomplishment solidifies the protocol’s standing within Stacks, getting closer to become the largest DeFi application in the ecosystem.

Moreover, since the last blog update, over 1000 new users have joined Stacking DAO, bringing the total number of protocol users to 26,100.

Stacking DAO’s rapid growth has drawn attention from Signal 21, a Bitcoin intelligence and data platform. They’ve created a dashboard to track the protocol’s stSTX supply, underscoring its significance in the Stacks space.

With over 25 million STX deposited on Stacking DAO to mint stSTX, a substantial amount of liquid capital is now accessible for earning yield in the Stacks DeFi space.

For instance, Zest protocol, currently accessible via a waitlist, has already obtained 1.77M stSTX (~$5.3 million) from early access users, proving the appetite from investor to earn more via DeFi.

Bitflow DEX has just launched the aeUSDC — stSTX trading pair, further cementing stSTX role as a backbone asset in Stacks DeFi. Additionally, the stSTX-STX pair has reached a balance.

Some Stacks community members are already experimenting with Arkadiko stSTX vault on testnet. New ways to deploy your stSTX liquidity are incoming!

If interested in exploring Stacks DeFi applications but not yet in the Stacks ecosystem, follow this guide to transition from USDT on other chains or BTC to stSTX and more.

On the social side, Stacking DAO surpassed 10k followers on X, marking increasing awareness within Stacks community and the Web3 space about the protocol role in pioneering liquid stacking on Stacks.

Stacking DAO was also spotlighted as a key protocol in Bitcoin and Stacks in a thread by Pink Brains, a creator studio established by the prominent Web3 educator Ignas.

Leaders in the Bitcoin space, including Jakob (Founder of Hermetica) and Anuj (CEO of Luganodes) have expressed positive remarks about the impact of Stacking DAO.

They discussed the benefits and opportunities unlocked by liquid stacking during the Building on Bitcoin event.

In case you missed it, here is a blog summarizing the next roadmap steps for Stacking DAO.

Finally, Stacking DAO has processed another ~13,851STX in Stacking rewards.‍

Stacking DAO Details:

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

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