🍿 STX20 Shows the Need for Bitcoin L2s & Tim Draper Shares Excitement for Stacks

This weekend, a group of self-described ‘Degens’ put the Stacks layer to the test by unleashing their vibrant community to mint with their new ‘STX20’ protocol, bringing an Ordinals-like model to the Stacks L2. Meanwhile, VC Tim Draper believes applications built on bitcoin will perform similarly to how Microsoft applications did in the internet boom, and is “pretty excited about Stacks”. Let’s look a this week’s Stacks snacks.

🍿 Stacks Snacks

• STX20, an experimental protocol as version of Bitcoin inscriptions got introduced on the Stacks layer.

• Stacks sees the largest block ever registered with 10,371 transactions, thanks to the first STX20 mints.

• Venture Capitalist Tim Draper says he’s pretty excited about Stacks and explains his Bitcoin thesis.

• Foundation Capital lists Stacks as effort to give Bitcoin additional scalability and functionality.

• Messari publishes the latest edition of the Crypto Theses for 2024, including thoughts on Stacks & Bitcoin L2s.

• Coinbase releases 2024 Crypto Market Outlook predicting elevated activity for Bitcoin on secondary via L2s like Stacks.

• StackingDAO launches stSTX on mainnet.

😋 Other tasty content

• Velar is rolling out the sBTC Testnet Pool.

• ALEX passes 500 million in transaction volume.

• Arkadiko introduces Arkadiko 2.0 with a short thread.

• ALEX Decentralized Finance shares Bitcoin Oracle roadmap.

• Bitflow Co-Founder Diego Mey shares STX20 marketplace teaser.

• CoinDesk highlights Stacks after comments from VC Tim Draper.