STX (STX)

$STX breaking the 50 day https://t.co/fgVuDPxj4a

📌 Stacks Monthly Ecosystem Update (Must-listen recording) ◆ Key Highlights Monthly town hall hosted by Kate, Stacks Labs Content Lead. Shared updates on Bitcoin staking progress, Treasury Committee results, and major app updates. · Presenters: Alex Miller, Rick, Claire, Rena (Endowment), Tycho (Zest), Diego (Bitflow), Publius (AIBTC) ◆ Bitcoin Staking & SIP Progress (Alex Miller) · All security reviews completed and modifications incorporated · Official audit reports from two auditing firms to be released soon · SIP has virtually reached its final version · Voting to proceed in July; if passed, PoX-5 will be applied via hard fork by end of July ▸ Important for STX Holders · All STX lockups will be automatically released during the hard fork · Re-locking is mandatory · The first cycle will be an STX-only staking cycle · In the initial few cycles, Bitcoin bonds will be absent or minimal, so STX yields are expected to be much higher than usual ▸ Market Perspective · Crypto market downturn has persisted for the past few months · Consensus is forming that we are returning to a 4-year cycle · Cycle bottom estimated for early September to October · Ensuring the launch of Bitcoin staking aligns with the market recovery period to secure runway ◆ Marketing & Growth (Rick) · Significantly expanded Stacks exposure in key search terms such as self-custody Bitcoin yield and Bitcoin-native finance · High ranking for productive Bitcoin-related queries in AI prompts/searches · Stacks is preempting the "Bitcoin Native" category · Major overhaul of Stacks platform, including website, is planned · Multiple major app announcements expected in July · Institutional accessibility complete, including Coinbase Coin50 Index ranking 40th, Grayscale Trust, 21Shares ETP, and Fireblocks integration ◆ Foundation Grants & Governance (Claire) ▸ Interim Grant Achievements · Voltify, Runes Capsule mainnet launched · Degen Labs mobile app live on Google Play · Stacks Agent gaining developer traction · BNS1 social login flow live · Boom activated 70+ merchant storefronts · Full recap blog post coming soon ▸ Governance · SIP-045 and SIP-044 (Clarity 6) to proceed in the same voting window · Connection flow built into the Ballot platform (two votes in one session) · This week is CAB voting week · Zero Authority team supporting CAB member onboarding ◆ Treasury Committee Q2 Results (Rena, Endowment) ▸ Market Conditions · Crypto market downturn since the beginning of the year, with approximately $220B flowing out of the global crypto market in Q2 alone (liquidity shifting to AI/stocks, etc.) · Stacks, as a high-beta Bitcoin asset, fell approximately 25% in Q2 · Bitcoin drawdown is on a 4-year cycle, declines last 12-13 months, and rebounds accelerate faster than previous cycles (2018, 2022 cycles validated) ▸ Treasury Management Principles · Long-term treasury (on-chain locked assets) remains untouched · Short-term holdings of 112 million STX to be used as operating capital for the next 12 months · The endowment aims for a 10-25 year lifespan ▸ Two Notable Signals · BlackRock IBIT: Recorded the largest single-day inflow of its two-year ETF operation this quarter → Institutional capital has not dried up · In May, STX saw a single candle spike of $0.32 on Binance market → Increased miner bids expand reward capacity for 2-week cycles → Market buying pressure = directly linked to expanded bond issuance capacity ▸ Bitcoin Staking Opportunity · ETH/SOL staking market: $38-50B in assets · Total Bitcoin staking: Less than $2B · Standing at the forefront of a huge untapped market · Fireblocks integration completed, securing infrastructure for institutional access to Bitcoin bonds · UTXO Management (Nakamoto Asset Management division) is the first partner ▸ Grant Program · All Q1 grantees are in Milestone 3 (user activation phase) · Q2 grants closed, selection announcement expected this weekend (DeFi, Perps, RWA, Agentic, Privacy tracks) · dGrants revival: 3 stewards selected, community operations maintained ◆ Zest Protocol (Tycho) ▸ Token Related · Binance Futures listing in June (most important liquidity for new tokens) · Followed by Bitget, Bybit Futures listings ▸ Product Updates · Swap interface introduced to Zest web app (STX can be used to purchase ZEST, based on Bitflow pools) · 785 sBTC deposited, approximately 1.6% APY · USDCx borrowing rate approx. 2% → Effective cost of BTC-backed borrowing approx. 0.2% (Lowest level across all crypto) · Whale case: 50 sBTC collateral for 1.6 million USDCx borrowing · Bear market liquidations handled successfully, 0 non-performing loans maintained for 2 years · Bitcoin Collateral Vaults undergoing internal testing ▸ Bitcoin Staking Linkage Outlook · Bringing staked Bitcoin yield on-chain creates Bitcoin yield/leverage yield use cases · Bitcoin anchor assets with percentage yields are unique to this ecosystem · Other chain BTC DeFi yields: 0-0.1% level · Stacks: 1-3%, up to 6% with leverage · Related product announcements expected within weeks ◆ Bitflow (Diego) · Cumulative processed trading volume surpasses $3.3B (swap + liquidity + aggregator) · HODLMM swaps alone approaching $300M · Capital efficiency: Zest pool 30-day volume $2.78M / TVL $100K → 28x volume/TVL ratio · USDh pool 30-day $1.2M, approx. 10x ratio · ZEST price surge reached ceiling, second pool activated · HODLMM is establishing itself as a repeatable launch infrastructure · Infrastructure: 99.9% uptime, pool data API response time under 1 second · Agent dashboard launched (AIBTC 1,000+ agents registered) · BFF Army Education Hub: Dozens of bootcamps, approx. 800 participants, approx. 600 new wallets, confirmed inflow to Zest/StackingDAO, etc. · Leo token to be launched as HODLMM's first memetoken in July (12,000+ holders, no bridge required) ◆ AIBTC (Publius) · "Bitcoin will be the currency of AI" · Create agents at https://t.co/DfKUnAuRIY, interact with 1,000+ agents · Supports Bitcoin L1 + Stacks + Lightning (99% of usage on Stacks) · Approximately $25,000 worth of Bitcoin has flowed through agents to date · AIBTC Legions concept to be unveiled (within 1-2 weeks) - Bitcoin pools controlled by agents through capital-weighted voting - First case is AI inference legion - Send BTC to receive AI inference service, 8% fee goes to treasury · Forecasts "by 2030, 99% of crypto transactions will be performed by agents" ◆ Conclusion · Bitcoin staking (self-custody BTC yield) to launch this summer · Updates to continue at next month's town hall

I've talked about @Stacks many times before because the core idea always resonated with me: make BTC more productive. Since Bitcoin is the biggest asset in crypto, the capital markets around it still feel super early. And what I mean is that other teams are building in the same broader BTCFi direction. They're basically Bitcoin L2s trying to bring existing DeFi patterns to Bitcoin, usually through EVM-style execution, bridges, or app-layer ecosystems. But the Stacks angle feels a bit different because the focus is on making BTC more useful without changing the ethos of what it was meant to be in the first place. Really looking forward to what the team is building here. Disclosure: I am a long-time $STX holder.