Liquid STX Mining

Inspiration

I believe in STX as a L2 solution for Bitcoin. In order for STX to succeed as a L2 solution, it must continue to maintain decentralization efforts in its own network even if the history of STX network is anchored to the Bitcoin.

A big source of weakness in the PoX mechanism is the centralization and lack of competition in the mining space. I want to contribute in strengthening the STX network and making sure that we reduce this centralization risk.

What it does

Liquid STX Mining is a decentralized STX mining pool using the stacking rewards from liquid staking pools to mine STX. As the pools provide liquidity through issuance of 1:1 backed STX tokens, we can continue to maintain liquidity while providing higher passive yield for stackers.

How we built it

This is a general pitch and is not built yet currently.

Challenges we ran into

Finding data and information on STX mining.

Accomplishments that we're proud of

I am proud of the innovative solution that I thought of to be able to find a large pool of capital to use for mining as it is difficult to raise capital while providing benefits to every participant in the ecosystem.

What we learned

STX mining is relatively opaque as there is not much data or public information on it. It is a very lucrative business and there are very few players mining consistently.

What's next for Liquid STX Mining

I want to build out this idea through finding a co-founder that is technically proficient

Built With

• powerpoint