Strong Q3 progress for STX.
As the incoming CEO of Stacks Labs, I’ll start sharing frequent updates and hosting quarter | Hanami
Strong Q3 progress for STX.
As the incoming CEO of Stacks Labs, I’ll start sharing frequent updates and hosting quarterly update calls.
Quick summary typed here as we release a detailed Q3 blog later (speed matters).
- There has been a 72.15% increase in BTC yield over the last 4 cycles. This is a result of SIP-45 activation that attracted more miners, increased mining efficiency, and strengthened STX/BTC ratio.
- Locked STX increased from 392M (at the time of the Satoshi One upgrade) to 448M over 4 cycles. The 20M jump right before Bitcoin Bond 1 went live was especially interesting as it shows the economic loop working.
- Anchorage announced support for Bitcoin Bonds, along with Fireblocks and Fordefi. Distribution to institutional clients through custody providers they already use is key.
- Bond 1 sold out for capacity, with large institutions like 21Shares, UTXO Management, HashKey, etc. participating.
- New signers like Ankr, The Tie, and HashKey Cloud came online — institutional infra providers for institutional-grade Bitcoin capital markets.
- Satoshi One upgrade was successfully live. With 99.98% uptime. One small network delay as signers upgraded, but the best-executed network upgrade yet.
The economic loop in (1) and (2) is especially interesting. BTC yield is increasing while bitcoin staking capacity demand (STX needed) is going up as well. As more BTC gets deployed in upcoming bonds, things could get really interesting.
A lot more happened in Q3, but these were some highlights for me. We’ll release a detailed Q3 update blog soon.
My focus is on capital flows, growth, and execution speed. Forward!
(Typed with two thumbs on a Sat in Korea.)
— Muneeb