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PoX-5 hardfork: activated.
The PoX-5 hardfork upgrades Proof of Transfer, the consensus mechanism where miners spend BTC to mine Stacks blocks, and lays the foundation for Bitcoin Staking.
More info below on what this means. ↓
stacks.btc
@Stacks
A Bitcoin L2 enabling smart contracts & apps with Bitcoin as secure base layer 🟧
Regular Stacks Updates: stackssnacks.com
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- Starting Bitcoin block 966,350 (~Sep 10) Stacks distributes 1 BTC per month through a 90-day incentive program with @ZestProtocol and @bitflow. Rewards paid in BTC and target DeFi activities: → Borrowing USDCx against sBTC and STX → Liquidity activity in core USDCx pairs
- 392M STX restaked after the PoX 5 fork. That's 88% of last cycle's total. Stacks is growing Bitcoin.
- "A BTC holder today primarily holds the asset for pure price exposure, lacking access to any native, underlying yield that naturally accrues value over time."
- Stacks DeFi TVL: @ZestProtocol $64M @GraniteBTC $7.5M @HermeticaFi $5.3M @bitflow $2.6M Lending holds 90% of it. BTC holders don't want to trade their bitcoin, they want to earn on it without selling. Latest from @castle_labs 👇
