Stacking DAO Cycle Update: Whales borrowing stSTX on Zest

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

The current annual yield on Stacking DAO stands at 9.40% (based on data from the last two cycles), with over 56M STX in TVL (approximately $100M). Interest in Stacking DAO remains strong, also given by the attractive APY.

DeFi Updates Related to Stacking DAO

STX City has made it super simple for token creators to select stSTX holders as airdrop recipients. It has never been easier to tap into Stacks DeFi power users.

A few whales on Stacks are longing STX beta by borrowing stSTX against STX/stSTX at 0.5% APY on Zest. Proof that stSTX is unlocking liquidity in the ecosystem and enabling new DeFi use cases.

If you want to start your Stacks DeFi journey with Stacking DAO, here is a simple tutorial on how to mint stSTX and earn up to 10% APY on STX in 10 seconds

The Nakamoto Activation is going live tomorrow at Bitcoin block 867,867, and Stacking DAO is ready for it. The upgrade will enable fast blocks, meaning anyone will be able to mint stSTX and deploy it in DeFi within seconds.

Other initiatives and news related to Stacking DAO

khoanguyen.btc, founder of STX City, shares his perspective on how stSTX has played a pivotal role in unlocking liquidity on Stacks. He highlights how many DeFi protocols, including Bitflow, have benefited from Liquid Stacking.

The latest "What's Happening on Stacks" thread is live, offering an easy way to stay updated on all the key events and developments on Stacks every two weeks.

If you want to learn more about how sBTC can thrive with the launch of cbBTC and Babylon, while unlocking BTC yield on Stacks through integration with DeFi protocols, don't miss this thread.

Stacking DAO Discord has been buzzing with new activities, including meme competitions, WL/NFT giveaways, Zealy challenges, and more. Congrats to @allaboutstarz, @venta_by, and @minioncult for winning the $100 meme competition prize! Make sure to join the Discord server if interested in these activities.

Stacking DAO community members have been crafting top-notch art and memes featuring the mascot, Mr. Smack. Notably, Stacksy and Tim have created some standout versions!

Finally, Stacking DAO has processed another ~199,385.00 STX in Stacking rewards.

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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 Discord community: https://discord.gg/KEQfXJnJYj

Join Stacking DAO Zealy space to earn rewards and more: https://zealy.io/cw/stackingdao