May 9, 2024

Stacking DAO Bi-Weekly Update: Onboarding new Signers and 50M+ STX Deposits Milestone

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

From reaching 50,000,000+ STX deposited to crossing 30K+ total unique addresses interacting with the protocol, Stacking DAO keeps growing, unlocking new liquidity for DeFi and securing the Stacks network.

🚨 50,000,000+ STX ($115M+) have been deposited on Stacking DAO🚨

The @Stacks DeFi will love this amount of liquidity. 🌊

Moreover, this liquidity is securing Stacks via delegations to enterprise-grade validators.

Using Stacking DAO is the easiest way to support Stacks. pic.twitter.com/ZReucGaiAd
— Stacking DAO (@StackingDao) May 6, 2024

MILESTONE UNLOCKED 🫡

Stacking DAO crossed 30K total unique addresses depositing in the protocol

This is a major milestone towards supporting the @Stacks network and all the DeFi apps in the ecosystem. Happy Stacking ✨ pic.twitter.com/VxCGC7F7Kd
— Stacking DAO (@StackingDao) April 29, 2024

stSTX has officially been listed on CoinGecko, creating even more awareness about the Stacks ecosystem and pushing for more adoption.

📢 Stacking DAO stSTX token is now listed on @coingecko 📢

Let's onboard new people to @Stacks via Liquid Stacking.https://t.co/mtCi5wBoUo pic.twitter.com/NlQe9LNfRf
— Stacking DAO (@StackingDao) May 7, 2024

However, these weren't the only big milestones of the last two weeks. Let's take a closer look at what you have missed so far.

Updates on Stacking DAO Signers Network.

With a track record of $7B+ staked and 99.9% up-time, Kiln Finance joins the Stacking DAO Signers network. Working with an enterprise-grade staking platform like Kiln will bring a top-performing Signer to Stacks.

With a track record of $7B+ staked and 99.9% up-time, @Kiln_finance is joining the Stacking DAO Signers network.

Working with an enterprise-grade staking platform like Kiln will bring a top-performing Signer to @Stacks.

🧵 ⬇️ pic.twitter.com/FfBizyTMTh
— Stacking DAO (@StackingDao) April 26, 2024

Chorus One, another leading staking infrastructure provider for the largest Web3 enterprises, has joined the Stacking DAO Signer network. Even Newman Capital Venture Capital acknowledged Chorus One's significant contribution to Stacks' security.

.@ChorusOne is a leading staking infrastructure provider for the largest Web3 enterprises.

Over 100k people stake with their public nodes, which average 99.9% uptime.

By joining the Stacking DAO Signer network, they will make a massive contribution to @Stacks security.

🧵 ⬇️ pic.twitter.com/94KrSdwfrP
— Stacking DAO (@StackingDao) April 28, 2024

Restake, which offers advanced staking infra and is backed by Cowa Mining, the largest BTC miner in the EU, also joins the Signer network.

Offering advanced staking infra is @restakestaking specialty & they are now part of Stacking DAO Signer network.

Backed by @CowaMining, the largest BTC miner in EU, they bring new portfolio companies into the ecosystem.

Their experience in running reliable Bitcoin infra will be… pic.twitter.com/tPxewadAGQ
— Stacking DAO (@StackingDao) May 3, 2024

Lastly, DeSpread, the Web3 strategy consultant and staking validator with $296 million in AUM, has joined the Stacking DAO Signer network. Their inclusion as a Signer will make the ecosystem more resilient.

.@DeSpreadTeam, the Web3 strategy consultant & staking validator with $296 million in AUM, joins Stacking DAO Signer network.

They also actively invest in @Stacks protocols and assist them with growth strategy.

Their inclusion as a Signer will make the ecosystem more resilient. pic.twitter.com/jyt7pYZ4lM
— Stacking DAO (@StackingDao) May 8, 2024

What happened in Stacks DeFi related to Stacking DAO?

One thing is certain: stSTX reinforces its position as the go-to asset for DeFi on Stacks.

It's no wonder why industry experts like Blockworks featured Stacking DAO in their daily newsletter. They noted Stacking DAO as one of the Stacks pioneers unlocking new use cases to activate the Bitcoin economy.

Stacking DAO was featured in the @Blockworks_ daily newsletter! 📰

It's time for the whole Web3 to learn about Liquid Stacking and the DeFi ecosystem on the leading Bitcoin L2 @Stacks. pic.twitter.com/i2PPKaenCG
— Stacking DAO (@StackingDao) April 30, 2024

Hermetica launched the stSTX earn vault in another exciting update, enabling new yield sources and point opportunities. Users who deposit stSTX into Hermetica vaults will receive a 50% points boost.

If you are interested in learning how to use your stSTX in Hermetica, here is a comprehensive guide:

The @HermeticaFi stSTX Option Vault enables users to earn additional yield on your stSTX.

This quick guide explains how stSTX holders can use stSTX in Hermetica Vaults.

🧵⬇️ pic.twitter.com/yrOiShxmHT
— Stacking DAO (@StackingDao) May 7, 2024

What are the other ongoing initiatives and news related to Stacking DAO?

Stacks, the leading Bitcoin L2, hosted a 5-Day (re)Stacking & Giveaway Week event, which included Stacking DAO.

To mark the event, Stacks published a thread to educate users about Stacking DAO and the benefits of Stacking.

Don't forget to stack your STX to support the @Stacks network 🤲

Stacking DAO is the easiest way to secure Stacks

STX deposited in Stacking DAO is delegated to enterprise-grade node operators with >99% uptime

And until cycle 84 users get a 20x one-time boost on new deposits 👀 https://t.co/HQ9IjBG2Ir
— Stacking DAO (@StackingDao) May 5, 2024

Appreciating community educators such as:

DekaDub (Community Support at Stacks) for publishing a guide on STX Stacking highlighting the importance of Stacking DAO to LST

Let's dive into @StackingDao stSTX

Since its inception, StackingDAO has pioneered Liquid Stacking on Stacks, backed by a grant from the @StacksOrg 🟧

StackingDAO is committed to a decentralized, community-driven future, enhancing both network security and user rewards
— DekaDub🟧🍋 (@Deka_Dub) May 3, 2024

Stacksy for creating an informative thread on stacking DAO points.

🌟@StackingDao Points Explained ⭐️

🔒 Hold $stSTX: Earn 1 point per day for each stSTX in your wallet.

🚀 Engage in #DeFi: Up to 2.5 points per day for participating in DeFi activities.

👥 Refer Friends: Gain 10% of the points your friends earn.

🎖️ Special NFTs: Extra points… pic.twitter.com/idCgtJrsbI
— Stacksy.btc (@Stacksybtc) May 3, 2024

Stacking DAO leads the charge in further securing the network, as brilliantly explained by Fractured's thread.

🟧 With the upcoming @Stacks Nakamoto Release, the role of those stacking their $STX is going to change!

A quick thread on what will be different and how @StackingDao is leading the charge to further secure the network 🧵👇 pic.twitter.com/uoA28RCSnd
— fracture.btc (@fractured_data) May 3, 2024

Roman started a discussion about the importance of Stacking DAO in the Stacks ecosystem.

Is Stacking really that important to a secure @Stacks future?

Of course, we all love reliable, secure and seamless network

That's where @StackingDao comes in - the backbone of a robust Stacks network🧶👇 pic.twitter.com/bTzeHQxgAi
— Roman K (@neddfil) May 7, 2024

Tim appreciates the protocols on Stacks, Highlighting Stacking DAO's impressive feat despite the current bearish sentiment.

I'm impressed by how well protocols on @Stacks performed despite the current bearish sentiment.@StackingDao alone peaked at 16M+ deposits against 2M withdrawals in April.

That means that for every 100 people who deposited, roughly 88 people did not withdraw.

Impressive! 🟧💯 pic.twitter.com/ZZ29KFBDOa
— Tim (@_nottim) May 2, 2024

Scorpy posted about Stacking DAO forming strategic partnerships with top validator operators.

◻︎◻︎@StackingDao has formed strategic partnerships with leading validator operators, including Luganode, Kiln, Chorus One, and ALUM Labs.

☐ How does this collaboration bring benefit to @Stacks network?

They enhance its legitimacy and resilience;

☐By partnering with… pic.twitter.com/ePjM86E0rH
— Scorpy (@Sscorpy_) May 8, 2024

iiaone encouraged users to supercharge their Stacking DAO points with the Nakamoto Odyssey 20x boost.

Stackers, don't miss the boat!

You have about ONE WEEK LEFT to supercharge your @stackingdao points with the Nakamoto Odyssey boost! Enjoy a whopping 20x points boost for new STX deposits and a 2x referral point boost for bringing friends on board.

And, loyal stackers, be… pic.twitter.com/1oryWI4Oqk
— iiaonΞ // 1%. 🧙🏿‍♂️ (@iiaone) April 30, 2024

Lastly, Algorithm commends Stacking DAO for an ATH TVL in an open public stacking protocol across Stacks since the launch of Stacks 2.0.

This record needs to be celebrated in Stacks ecosystem:

50,000,000+ $STX TVL in @StackingDao Liquid Stacking protocol

ATH Total Value Locked in an open public stacking protocol across Stacks since the launch of Stacks 2.0

That's an incredible milestone & Signers are poised🤯 pic.twitter.com/NytW6KPS98
— Algorithm.btc (@godfred_xcuz) May 2, 2024

Finally, Stacking DAO has processed another ~100,709.50 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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