Gm Stackers
😋 Stacks Snacks
UTXO Management, the Bitcoin native asset management arm of Nakamoto Inc., just became the first institutional participant in Bitcoin Staking on Stacks. The whitepaper dropped a few weeks ago and institutions are already moving. Bitcoin Magazine picked it up too.
Within 24 hours, Hermetica filled an additional 25 BTC in capacity, bringing total hBTC deposits to 75 BTC. 5.3% APY since day one without BTC ever leaving custody. The interesting part isn't that hBTC earns yield, it's how.
Zest now takes native BTC deposits at 1.58% APY. This means native BTC in, BTC (plus yield) out. Oh and Bitcoin Collateral Vaults are coming soon. Zest staying busy 🍊
👀 Other Tasty Content
Tenero mapped out the Bitcoin Staking Funnel. $1.5T+ in idle BTC sitting in wallets, ETFs, and treasuries doing nothing. Their take: self custodial staking on Stacks is the chokepoint that wakes it all up.
Bitcoin News covered the Bitcoin Yield Q1 report and called Stacks "one of the clearer yield dashboards and one of the most active BTC lending venues." Not our words 👀
Missed the Stacks Monthly Ecosystem Update? Catch the recording.
Happy stacking, Stackers 🟠
Stacks is a Bitcoin layer for smart contracts. It enables decentralized applications to use Bitcoin as an asset and settle transactions on the Bitcoin blockchain. Stacks exists to unlock Bitcoin’s full potential as the largest, most valuable, durable, and decentralized asset. Learn more here.