Bitcoin Unleashed: Q3 2021 In The Stacks Ecosystem
A better internet on Bitcoin has long been the shared dream of the Stacks community. This quarter, though, saw its manifestations truly awaken.
As if you can't tell by the quote, I'm pretty excited for Dune. In some ways, Dune's spice is a good comparison for Bitcoin. Beyond its obvious use as a currency, it is a scarce resource that requires great effort to mine. Attempts to replace or replicate it are never satisfactory, it enables both thought and function not possible without it, and it is something still not yet fully understood, but which clearly influences the world around it in a major way.
And yes, it even enables space travel (way beyond the moon, too).
Herein lies the lesson from Dune: They embraced spice. They found ways to enhance and unleash it to serve everything from their health to their technology. This is what the Stacks community has been doing for Bitcoin since Stacks 2.0 launched.
In a little over 9 months, we've seen things done that have never been done on Bitcoin before. From NFTs that earn a BTC yield, to decentralized loans that repay themselves, Stacks and its builders have begun to unleash the full potential of Bitcoin.
Stackers, we're not just welcoming this evolution but driving it. Thank you for everything you've done and continue to do. For the rest of you, don't worry, we'll be here when you wake up.
Mitchell Cuevas and the Stacks Foundation Team
Below you'll find highlighted news and content from the past quarter sorted by theme. Contains heavy doses of the following:
🚀 Bitcoin DeFi blooms as Bitcoin moons
💸 Stacking strides through $1 Billion TVL
🦄 Bitcoin NFTs arrive and thrive
🔥 STX is storming up social and market charts
⭐ Stacks Accelerator teams star for Stacks
➕ Much more
You can also browse the archive for more detailed updates from previous bi-weekly editions published throughout the quarter.
Join next week's Stacks Town Hall for a recap of Q3 + what to look forward to in Q4. We'll also be giving away special edition NFTs to a few town hall attendees. ➡ Register now
🚀 Bitcoin DeFi
Meltem Demirors shared her excitement for the Arkadiko mainnet launch, which leverages the unique relationship between Stacks and Bitcoin to enable unique self-paying loans.
#DefionBitcoin is here ~$25M TVL in 1 day 👀💰
— Arkadiko Protocol (@ArkadikoFinance)
Oct 21, 2021
1/ proud to back @ArkadikoFinance via a strategic investment from @CoinSharesCo
we are excited to build, buy, and partner with projects in the @Stacks ecosystem
— Meltem Demirors (@Melt_Dem)
Oct 21, 2021
Miami Coin Marches Toward $20M
Continued excitement and mining, along with the recent surge in Stacks price has the Miami wallet stuffed with funds ready for the city to put to good use.
The current Miami City Wallet balance is valued at $19,849,062.19 (8,620,931.32 STX): miamining.com/mia
— MiamiCoin City Wallet (@MiamiCoinWallet)
Oct 21, 2021
The ALEX team launched their testnet on Oct 10th and has since completed tests with nearly 600 people. ALEX’s core product is essentially a zero-coupon bond (in conventional finance) powered by Stacks. A key benefit of this product is reduced uncertainty about a loan’s interest rate, resulting in better financial planning.
60 Hours into our TestNet, Update👇
🚀 A Total of 1281 invite codes sent since our TestNet launch on Oct 10, 8PM EDT
🚀 A Total of 594 testers completed
🚀 1.3% fail rate on faucet
🚀 300 new codes were sent out an hour ago.
Complete shrl.ink/JR2V for Invite Code
— ALEX (@ALEXLabBTC)
Oct 13, 2021
Despite Ethereum being the blockchain of choice for smart-contract capabilities, there has been a push to bring decentralized finance to the Bitcoin network.
The sponsorship is the first of its kind, being paid directly with the bitcoin yield generated via Stacking on the Stacks blockchain.
If you're interested in Bitcoin DeFi, check out my two new articles on the topic:
Intro to Bitcoin DeFI: danheld.substack.com/p/bitcoin-defi
Introduction to @Stacks (A Bitcoin DeFi protocol): danheld.substack.com/p/bitcoin-defi…
— Dan Held (@danheld)
Jul 15, 2021
DeFI Pulse doesn’t list bitcoin DeFi projects like @SovrynBTC or @Stacks.
One would be in top 15 of TVL list and the other would be top 25.
Why are they not included? 🤔
— Pomp 🌪 (@APompliano)
Jun 9, 2021
Earn BTC While Shopping With GoSats
🥁 Hola! 🥁
Our biggest update yet is now live, the GoSats bitcoin chrome extension!
Now you can stack free #bitcoin for shopping by installing the Chrome extension.
Download the extension here:
Watch the demo 👇
— GoSats 🌋 - The Bitcoin Rewards App (@gosatsapp)
Jul 28, 2021
💸 Stacking strides through $1 Billion TVL
That's billion, with a ₿.
stacking.club $STX #Stacking
— mitchell.btc ((( ₿ ))) (@mcuevasm)
Oct 20, 2021
🦄 Bitcoin NFTs
NFTs on Bitcoin are exploding thanks to Stacks creators. Check out this edition dedicated to Bitcoin NFTs from throughout the Stacks ecosystem.
Hint: The answer is yes. NFTs are launching on Bitcoin. It’s being done through Stacks, which settles its transactions to the leading crypto’s blockchain. And, be sure not to miss your fellow Stacker, Alla from Layer, being quoted in Benzinga’s breakdown of NFTs this week.
We are really happy to announce that we are bringing Satoshibles NFT to Bitcoin via @Stacks 💪
This is going to be a first in the NFT space! 🚀
Find out more here: satoshibles.medium.com/nfts-on-bitcoi…
— Satoshibles (@satoshibles)
Sep 17, 2021
The popular “Punk” NFT craze has hit the Stacks community! Stacks Punks have amassed nearly $500,000 in transactions so far, with some Punks selling for upwards of 10,000 STX.
Stacks Accelerator team Rare Sense’s NFT platform, Superfandom connects creators, celebrities, and influencers to their fans through NFTs. Superfandom enables creators to easily launch NFTs that allow exclusive experiences, such as social media collabs or in-person interactions.
The Boom team launched Boomboxes, a novel type of NFT that offers rewards via Stacking. Boomboxes are transferable and allow owners to redeem a percentage of Stacking rewards at any time. In just a quarter, they crossed over $1M Stacked all-time.
We've crossed $1 million in Boombox stacked value (all-time)! Many thanks to each and every one of you joining us on this ride!
— Boom (@nft.btc) (@boom_wallet)
Oct 3, 2021
⭐Stacks Accelerator Stars
Missed the first-ever Stacks Accelerator Demo Day? You’re in luck, both sessions are now available. These teams showed us what’s coming to Bitcoin soon and it’s an exciting glimpse into a future not far away. The impact of these teams will reverberate through the Stacks Ecosystem sooner rather than later.
💸 DeFi and Fintech → Watch Now
🌅 NFTs & Web 3.0 → Watch Now
excited to see all of the projects building on #bitcoin - invested in one @Stacks ecosystem project already 👀 and looking for more!
— Meltem Demirors (@Melt_Dem)
Sep 9, 2021
watching Stacks Accelerator #NFT day. instead of sleeping #upallnight#blockchain
— Justin Roberti (@sensible)
Sep 10, 2021
300+ in the room for Bitcoin startups demo day by @StacksStartups.
25 new startups presenting over two days: Bitcoin DeFi & NFTs on Bitcoin.
I’m fired up for unleashing the full potential of the Bitcoin economy.
— muneeb.btc (@muneeb)
Sep 9, 2021
First Patent for Tracking Genetic Material via Blockchain
Eggschain, a healthcare technology company that combines genetics and blockchain to track genetic material, announced its pioneering, patented solution for tracking and tracing the storage and transfer of blood, genome, tissues, organs, DNA, RNA, sperm, eggs, embryos, and other biospecimens. Eggschain is proudly built on Stacks.
Combining the power of Stacks with AI, the Blocksurvey team continues to innovate on the world of privacy-first forms. GPT-3 surveys enable users to generate relevant survey questions fast.
GPT-3 Surveys by BlockSurvey: Generate questions for surveys in seconds producthunt.com/posts/gpt-3-su… by @wlsnbr
— Stacks Ventures (@StacksStartups)
Jul 16, 2021
The Sigle team will soon be launching a stacking monetization model for their decentralized blogging platform. Readers will be able to lock up STX in support of writers who can, in turn, earn the BTC yield generated through stacking.
💰 STX Cryptocurrency
One project aiming to combine the features of DeFi with the security of the Bitcoin network is Stacks (STX), a layer-one blockchain protocol designed to bring smart contracts and decentralized applications (dApps) to the Bitcoin network.
Wow $STX 🚀🪐🛸👽
— LunarCrush (@LunarCrush)
Oct 18, 2021
TOP 10 COINS BY LUNARCRUSH ALTRANK
October 10, 2021
$STX $SHIB $XPR $ONE $VIDT $XYO $SCRT $LINA $SPS $OHM
Lunarcrush Altrank is a unique measurement that combines altcoin price performance relative to Bitcoin and other social activity indicators across the entire crypto market.
— PHOENIX 🇺🇦 (@pnxgrp)
Oct 10, 2021
Coinbase Custody Adds STX Support
Coinbase Custody now supports deposits and withdrawals for Stacks $STX. Details here → custody.coinbase.com/assets
— Coinbase Institutional (@CoinbaseInsto)
Sep 2, 2021
Brittany Laughlin on Coindesk TV To Chat Coinbase Prime
Developers in the Stacks ecosystem recently demonstrated that Bitcoin DeFi is possible today. Longtime Stacks community members Friedger Müffke, Asteria, and Jude Nelson in collaboration with other Stacks community developers, deployed working Bitcoin swaps with NFTs and other crypto-assets.
Native Bitcoin swaps are now live!
Why is this a big deal? Tweet thread👇
— muneeb.btc (@muneeb)
Jul 26, 2021
Stack your MiamiCoin (MIA) and earn rewards with Okcoin. Earn up to 430% APY* rewards. The minimum stacking amount is super low and Earn charges no fees, so get ready to start earning.
India’s Largest Exchange Lists STX
Stacks (STX) on WazirX ⚡️
You can now buy, sell, trade STX in our USDT market.
But wait, there's more!
👉 STX/INR is coming soon
👉 Watch this space for more exciting news about @Stacks
and WazirX collaboration!
Stay tuned 🙌
— WazirX: India Ka Bitcoin Exchange (@WazirXIndia)
Sep 8, 2021
Binance USD (BUSD) is a 1:1 USD-backed stablecoin issued by Binance (in partnership with Paxos). Approved and regulated by the New York State Department of Financial Services (NYDFS), The BUSD Monthly Audit Report can be viewed from the official website.
Coming soon this fall, Stacks users around the world will be able to use native Wrapped Bitcoin across the Stacks network, aka xBTC. Stacks developers will also have access to programmable xBTC with the help of Hiro System’s developer tools.
We're super-excited to announce today that Wrapped Bitcoin will soon be launching on @Stacks. 🚀 🌕 link.medium.com/6VU4QuZB2ib
— wrapped.com (@WrappedFi)
Aug 26, 2021
📊 New Stacks Data Portals
Daemon Technologies has released an updated design of the STX Mining Monitor. This newest release provides an overview of recent mining activity in the STX mining market and gives all users a snapshot of on-chain activity on both the Stacks and Bitcoin blockchains.
Discover the latest on-chain data from Stacks 2.0 including transactions per day and growth of unique addresses over time. The Sigle team plans to add more here, so let them know what you want to see!
Stacks holder distribution, smart contracts, mempool, wallets, pools, prices, and more can be browsed and navigated in this robust new data portal indexing the Stacks chain.
Stacking.club: New Stacking Overview Page
🥞 stacking club update 🥞
Very excited to announce a new page on stacking.club, an overview page for all stacking cycles! This new page gives you insight into trends and metrics across all cycles.
Explore all stacking cycles here -> httstacking.club/cycles/allt
— aulneau.btc (@aulneau_)
Jul 11, 2021
⛓️ Stacks Technology
As congestion has been an issue during hot NFT launches, Stacks Core Developers are hard at work on several methods to give builders the speed, security, and scalability options they need to thrive.
Check out Stacks Founder Muneeb Ali’s latest forum post addressing questions around Stacks scalability and potential optimizations that can be made to network capacity. The scalability properties of Stacks and its design tradeoffs are unique and it’s worth understanding them.
Stacks 2.1 is a proposed network upgrade to the current Stacks 2.0 mainnet released in January. The upgrade will not happen automatically, so we’ve compiled information about the origin, status, voting plans, and included upgrades to help educate ecosystem stakeholders on what comes next and how to get involved.
At long last, appchains are live on the Stacks testnet! They represent one of a few promising scalability solutions for the Stacks blockchain.
My write-up describing appchains: gist.github.com/jcnelson/c982e…
Live mining contract: explorer.stacks.co/txid/ST17ABWV7…
— jude.btc (@[email protected]) (@JudeCNelson)
Sep 27, 2021
Released earlier this year in time for the launch of Stacks 2.0, the wallet extension has matured enough that it is now recommended for regular production usage, including interacting with web apps and managing STX and other Stacks-based assets.
Clarity Universe graduated its first cohort, helping 100 new developers get started on their smart contracts for Bitcoin journey. Clarity Universe offers a 6-week course, starter contracts, and a talent portal.
Daemon Technologies partnered with faculty at Hong Kong University of Science and Technology (HKUST) to bring students a 6-week pilot course on Clarity.
Clarinet is our new go-to tool for local Clarity smart contract development. It is designed to facilitate rapid smart contract development, testing, and deployment. It consists of a Clarity REPL and a testing harness.
Tutorials and Microblocks and Documentation, oh my! 🦁🐯🐻
Take a look at what we'll be jamming on the next few months. Can't wait for you all to see wallet design updates, microblock UX, loads of new docs, and fresh content on the blog & Youtube.
— Hiro Systems (@hirosystems)
Aug 17, 2021
Syvita has created an open source Clarity library for executing various bitcoin-related operations in smart contracts on Stacks. The library currently enables cross-chain transaction verification for both Catamaran swaps and Sypool and is available for all developers to integrate now.
This software update is a point-release to change the transaction selection logic in the default miner to prioritize by fee instead of nonce sequence. This release’s chainstate directory is compatible with chainstate directories from 126.96.36.199.0.
🤝 Stacks Integrations and Partnerships
Blockchain.com continued its support for Stacks by listing the asset on their Exchange. The listing is now live and the initial listing includes STX-USDT, STX-USDC and STX-USD pairs.
The Orbit Chain team will integrate the Stacks blockchain and turn their attention to creating bridges between Stacks’s Bitcoin-connected blockchain and Orbit Chain’s growing ecosystem of public blockchains.
‘Acorns for Crypto': Round up into BTC, Stacking
Round up your spare change with RoundlyX to build a Stacks position. With Okcoin and RoundlyX, you can easily dollar cost average into Stacks and then earn BTC rewards on your holdings!
Have you tried #DeFi on #Bitcoin? That's @Stacks!
You can round up your everyday purchases into $STX with and @Okcoin!
Dollar-cost averaging with interest doesn't get better than that.
— RoundlyX (@RoundlyX)
Aug 17, 2021
The Stacks Korea Chapter was pleased to share that popular South Korean wallet provider, D'CENT, has added support for Stacks (STX).
❤️ Community & Ecosystem Expansion
The Stacks Chapters Program, supported by grants from the Stacks Foundation, works with community leaders around the world to grow and educate the global Stacks community. This piece shines a light on the incredible progress and impact that Chapter Leads in Pakistan, the MENA region, Turkey, China, and Korea have made over the last 2 quarters.
The Stacks Pakistan team recently hosted XPLORE, one of the largest blockchain conferences in the region. The event featured talks by numerous tech industry leads and the final round of Stacks Pakistan’s nationwide blockchain hackathon.
Stacks Map illustrates a rapidly growing ecosystem
🧵1/ Creating a thread to document the growth of @Stacks Ecosystem, with quarterly Ecosystem Map updates!
Stacks 2.0 went live on Jan’21
1st Sept 2021 - Stacks Ecosystem Map v1
— Ethan (@zrixes)
Sep 2, 2021
📝 Can't Miss Content
Jolocom, a Stacks Grant recipient, launched their new GDPR-compliant and Stacks supported blockchain identity management app, SmartWallet 2.0. By using blockchain to provide identity management, users can store their identity documents on their device, control who can see their documents, and understand how their identity is used.
Miami Mayor Francis Suarez discusses the launch of ‘MiamiCoin’ (which is built on Stacks) & the evolution of the city’s “tech ecosystem”. Suarez says the city is focused on “differentiating its economy” by “creating the new wave of technological products”.
Stacker Chats: Talking Bitcoin DeFi and @jack
On the latest edition of ‘Stacker Chats’ Gina & Muneeb talk cross-chain Bitcoin transactions on Stacks and Jack Dorsey’s new Bitcoin DeFi project.
In this Stacker Chats episode, Gina of Hiro Systems sat down with Philip De Smedt, CEO and co-founder of Arkadiko, the first stablecoin on Stacks that uniquely enables your collateral to earn a yield.
[UDC 2021] Stacks enables Bitcoin with smart contracts: Muneeb Ali, co-founder and CEO of Stacks and Hiro, spoke during the second day of UDC 2021, a blockchain conference hosted by Dunamu (the company that operates the Upbit exchange).Stacks is an… dlvr.it/S6nfTb
— 코인데스크 코리아 (@coindeskkorea)
Sep 2, 2021
A small note about these updates: Every quarter the team and I greatly enjoy compiling these, yet each quarter the attempts to be comprehensive become more futile. We've opted to simplify and highlight, but if we've left out something important to you, please reply and we can add it.
Disclaimer: The information shared in this email is strictly for informational purposes. You should not take its content, opinions, and/or descriptions provided as technical advice, legal advice, financial advice, or investment advice. See full disclaimer at stacks.org/terms.