Some quick Stacks updates: — The Satoshi upgrades I hardfork went as smoothly as we could’ve hoped. Core devs have been monitoring the network, and we regularly push code updates as needed. — As part of the upgrade, new signers came online, further decentralizing and increasing the reliability of the signer set. A few of these signers were offline at the boundary of cycle 141, causing a temporary pause in blocks that was quickly resolved. See the 99.94% uptime because of this temp issue. — Cycle 141 got 392.4M STX staked. This required massive upgrades across wallets like Leather, Xverse, custodians, pool operators, DeFi apps, etc. I expected that hitting 300M would be great, and exceeding this to almost 400M (approx 80% of historical highest levels) straight away is a strong sign of participation and of market confidence among long-term holders: they’d rather go through new steps to upgrade instead of leaving. — On the Binance monitoring tag, I had a call with them on Thur. We’ve been a great partner to Binance for 6 years now without any issues. They clearly recognize that Stacks is a blue-chip project. I explicitly discussed any risk of “delisting” and the FUD around it, especially in Korean markets. They communicated (a) no delisting risk and (b) no concern about liquidity or trading volume. They seem happy with all the information we have provided about the hardfork and with how clearly we communicated the token emissions update. The next review meeting has not happened yet. Unfortunately, the monitoring tag process got triggered/flagged before the hardfork, and we just need to wait for the next meeting and a fresh review. I’m personally not concerned about the monitoring tag at all and will update the community as soon as the next review meeting happens. I’m also personally in touch with execs at Binance in addition to our dedicated team. All of them have been super helpful and transparent. Their recommendation is to communicate the details to the community to address any FUD. I hope this update helps. — On the Genesis bond, we’ve picked Bitcoin block 966,350 (approx Sep 10) for the Genesis bond. This is when the institutional participants in staking start getting announced. Genesis bond will demonstrate the full system on mainnet, and the first real bond will launch a month later, with monthly bond issuances following. It’s an extremely exciting time where we’re going after a potential $100B BTC staking market. I’ll separately write about our innovations here and how we’ve unlocked something completely not possible before, and how direct value accrual to STX happens as more Bitcoin gets deployed in staking and goes into our DeFi. Start of on-chain Bitcoin capital markets! — On trading markets and liquidity: in recent months/weeks, given negative sentiment and especially the unfortunate Binance monitoring tag, the liquidity and trading volumes are lower than before. These levels still meet the liquidity requirements of various exchanges. However, the Stacks endowment is working with partners to improve liquidity further. Healthy trading markets for STX are critical to a successful launch of bitcoin staking, as large institutions should be able to easily get access to the STX they need globally. I’m available on X and Telegram community channels for any questions. I’ve been listening to all feedback and questions, and it’s been very helpful. Our global community is our strength, and their passion shows! Forward 🚀

Some quick Stacks updates: — The Satoshi upgrades I hardfork went as smoothly as we could’ve hoped. Core devs have been monitoring the network, and we regularly push code updates as needed. — As part of the upgrade, new signers came online, further decentralizing and increasing the reliability of the signer set. A few of these signers were offline at the boundary of cycle 141, causing a temporary pause in blocks that was quickly resolved. See the 99.94% uptime because of this temp issue. — Cycle 141 got 392.4M STX staked. This required massive upgrades across wallets like Leather, Xverse, custodians, pool operators, DeFi apps, etc. I expected that hitting 300M would be great, and exceeding this to almost 400M (approx 80% of historical highest levels) straight away is a strong sign of participation and of market confidence among long-term holders: they’d rather go through new steps to upgrade instead of leaving. — On the Binance monitoring tag, I had a call with them on Thur. We’ve been a great partner to Binance for 6 years now without any issues. They clearly recognize that Stacks is a blue-chip project. I explicitly discussed any risk of “delisting” and the FUD around it, especially in Korean markets. They communicated (a) no delisting risk and (b) no concern about liquidity or trading volume. They seem happy with all the information we have provided about the hardfork and with how clearly we communicated the token emissions update. The next review meeting has not happened yet. Unfortunately, the monitoring tag process got triggered/flagged before the hardfork, and we just need to wait for the next meeting and a fresh review. I’m personally not concerned about the monitoring tag at all and will update the community as soon as the next review meeting happens. I’m also personally in touch with execs at Binance in addition to our dedicated team. All of them have been super helpful and transparent. Their recommendation is to communicate the details to the community to address any FUD. I hope this update helps. — On the Genesis bond, we’ve picked Bitcoin block 966,350 (approx Sep 10) for the Genesis bond. This is when the institutional participants in staking start getting announced. Genesis bond will demonstrate the full system on mainnet, and the first real bond will launch a month later, with monthly bond issuances following. It’s an extremely exciting time where we’re going after a potential $100B BTC staking market. I’ll separately write about our innovations here and how we’ve unlocked something completely not possible before, and how direct value accrual to STX happens as more Bitcoin gets deployed in staking and goes into our DeFi. Start of on-chain Bitcoin capital markets! — On trading markets and liquidity: in recent months/weeks, given negative sentiment and especially the unfortunate Binance monitoring tag, the liquidity and trading volumes are lower than before. These levels still meet the liquidity requirements of various exchanges. However, the Stacks endowment is working with partners to improve liquidity further. Healthy trading markets for STX are critical to a successful launch of bitcoin staking, as large institutions should be able to easily get access to the STX they need globally. I’m available on X and Telegram community channels for any questions. I’ve been listening to all feedback and questions, and it’s been very helpful. Our global community is our strength, and their passion shows! Forward 🚀

Source:https://x.com/muneeb/status/2088627014504698252