Stacks brought its first institutional Bitcoin into staking during Q3 after the PoX-5 hard fork. Almost all liquid staked Bitcoin on the network now sits as lending collateral on Zest Protocol. STX has handed back a large part of its August-October rally despite the stronger network data. The token is testing a support zone where a key moving average and a retracement level overlap. STX, the native token of the Bitcoin smart contract layer Stacks, trades near $0.35 on Tuesday after losing roughly 19% over seven days, even though the STX Ecosystem Report for Q3 2026 shows the network pulled about 735 BTC into its new Bitcoin Staking product across the first two bonding periods. That gap between improving on-chain numbers and a weakening price has pushed STX back into the area that needs to hold if the rally that began in mid-August is to survive.
735 BTC Across Two Bonds The quarter turned on the PoX-5 hard fork, which went live on July 30 at Bitcoin block 960,230 and unlocked every staked STX token, forcing holders to restake under the new contract. They restaked 392M STX almost immediately, the figure climbed to 448M by the end of September, and it reached 493M once Bonding Period 2 opened on October 8.
The Genesis Bond opened on September 10 and filled all 230 BTC of its capacity, with ETP issuer 21shares, HashKey Cloud, Nakamoto Inc. subsidiary UTXO Management and Sypher Capital among the first participants. Stacks Labs sized that bond deliberately small so institutions could test the product live. The second bond doubled it to 505 BTC, and 483 BTC of that came through liquid staking on Stacking DAO.
Metric Latest figure Change in context STX staked 493M STX Up 25%+ from 392M after the fork BTC bonded ~735 BTC 230 BTC, then 505 BTC sBTC supply 2,487 BTC End of Q3 stBTC supply 636 BTC 97% posted on Zest Weekly DEX volume $16.7M 12-month high, week of Sept. 28 Source: Stacks Labs, Q3 2026 ecosystem report
Why Bitcoin Staking Locks Up STX STX holders care about Bitcoin deposits because of how PoX-5 works: it introduced protocol bonds, which pair BTC timelocked on the Bitcoin base layer with STX locked on Stacks as staking capacity, so every new tranche of Bitcoin needs STX sitting beside it. Bonding Period 2 alone required 6.7M STX alongside its 505 BTC, and the yield is paid in BTC. Stacks Labs says Bond 2 targets 3%, while Stacking DAO estimates about 2.3% a year for stBTC holders.
With a market capitalization of $627.55M at $0.3458, STX has roughly 1.81B tokens in circulation, which puts the 493M staked figure at around 27% of supply. Much of that stake is returning capital that the fork had temporarily unlocked, so the recovery above 392M is the part that reflects fresh demand.
Where the Staked Bitcoin Ends Up stBTC runs on sBTC, the Bitcoin-backed token on Stacks secured by a set of institutional signers, and nearly all of it ends up in one place: of the 636 BTC in stBTC supply, 97% is posted as collateral on Zest Protocol,
the network’s largest lending market, which reports more than $122M in deposits, $42M in borrows and 800 BTC of Bitcoin-denominated collateral. Zest also runs a levered staking vault that loops stBTC for extra yield, and it has processed over 1,500 liquidations since launch without bad debt. That record matters more as concentration grows, because a single liquidation engine now carries nearly all of the network’s staked Bitcoin.
STX Price Tests the $0.33 Zone STX/USDT daily chart. Source: Alexander Stefanov/TradingView STX climbed from about $0.118 in mid-August to a $0.459 high in mid-October, a gain close to 290%. During the first leg of that move the 14-day RSI pushed above 80, a reading that signals buyers were paying up at an unusually stretched pace, and it then stayed mostly between 55 and 75 while price ground higher through September. The index has now dropped to 45, below the 50 midline and well under its own average of 62, which means short-term momentum has passed to sellers.
The longer trend still leans positive, because in mid-September the 50-day EMA crossed above the 200-day EMA, a golden cross that marks the point where the average price of recent weeks overtook the longer-term average. Price has already lost the 0.236 Fibonacci retracement at $0.3785 and now trades just above $0.3318, where the 50-day EMA meets the 0.382 retracement at $0.3287. Fibonacci retracements measure how much of a rally has been given back, and this overlap makes $0.33 the first area where buyers tend to defend a trend.
A daily close below $0.3287 would leave $0.2884 as the next support, with the 200-day EMA at $0.2703 below it. A move back above $0.3785 would put the October high back in play.
Monthly Bonds Set the Q4 Test Bond 3 opens around November 10, and Stacks Labs expects custody integrations, including Anchorage, to bring more institutions in from that round onward, with a 50 BTC minimum for self-custodial participants. New bonds follow monthly through the end of 2026 with larger capacity each time, so each one will show whether Bitcoin demand keeps pace with supply and how much additional STX gets locked.
Epoch 4.1, the next network upgrade, targets activation in early December and makes Clarity 7 the default language version for new smart contracts, with the activation block height due at least 30 days in advance. Muneeb Ali, the Stacks co-founder, took over as CEO of Stacks Labs on October 15.
The Stack Sats incentive program pays out 1 BTC a month to Bitflow traders and Zest lenders until December 10, and the Stacks Endowment intends to use its participation data to design a longer-term DeFi rewards framework. Bitflow, the main exchange on the network, also plans to ship a new concentrated-liquidity design in Q4 that it says will handle at least ten times more swap throughput, which would matter if bond sizes keep doubling.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
Stacks has laid out its fourth-quarter game plan, and it centers on getting more Bitcoin locked into its system.
The Bitcoin layer 2 protocol says Q4 will focus on growing BTC bonds, putting that BTC to work in ecosystem apps, and shipping the Epoch 4.1 network upgrade in early December.
The priorities arrived alongside the protocol’s Q3 Ecosystem Report, released on October 15, 2026.
Monthly bonds and a December upgrade Stacks plans to run Bitcoin Staking bonding periods on a monthly schedule. The first of these monthly windows, Bond 3, is slated to open around November 10, 2026.
Bitcoin Staking has drawn 735 BTC in total across its first two phases. That figure splits into 250 BTC from the inaugural Genesis Bond and 505 BTC from Period 2.
The other big Q4 item is Epoch 4.1, the next network upgrade, which Stacks is targeting for early December. Epoch 4.1 will make Clarity 7 the default for new smart contracts on the network.
Stacks says the exact activation block height will be announced 30 days ahead of time.
Staking growth and a leadership shift The Q3 report also pointed to a jump in STX staking. After the PoX-5 upgrade, the amount of staked STX climbed from 392 million to 493 million, an increase of more than 25%.
STX rose approximately 50% over the four weeks leading to October 13, 2026, outperforming Bitcoin across that stretch. The research findings tie that outperformance to increased institutional participation in liquid staking.
The report landed alongside a leadership change. Stacks founder Muneeb Ali transitioned to CEO of Stacks Labs as the report was released.
With the new role came a long-range strategic vision branded the “Satoshi Upgrades.” The plan aims to expand Bitcoin’s capabilities in three areas: capital markets, privacy, and post-quantum security, with a timeline running through 2030.
What this means for Stacks and BTC holders For developers, Epoch 4.1 is the item to circle on the calendar. Clarity 7 becoming the default for new contracts means teams building in December and beyond should plan around the updated version. The 30-day notice on the activation block height gives node operators, app teams, and anyone running infrastructure a month of notice before the switch flips.
Stacks is juggling a new bonding cadence, an app-integration push, a December upgrade, and a CEO transition, all in a single quarter.
The near-term scorecard is simple: watch Bond 3 intake around November 10, watch for the Epoch 4.1 block height announcement, and watch whether the BTC flowing into Stacks starts showing up inside actual apps.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Stacks says its Bitcoin Staking feature has pulled in around 735 BTC across its first two bonding periods on mainnet. That figure arrived in the project’s Q3 2026 ecosystem update, published October 15.
How the 735 BTC broke down The total came from two separate windows. The first, called the Genesis Bond, opened on September 10, 2026, and contributed 230 BTC.
The second bond opened around October 10, 2026, and drew approximately 505 BTC. Its capacity was roughly 500 BTC, which means it was effectively filled to the brim.
Most of that second round came through a single channel. Around 483 of the roughly 505 BTC in Bond 2 was staked via Stacking DAO’s stBTC, a liquid staking token.
The stBTC route let a large share of Bond 2 stay in circulation as collateral across various decentralized finance applications while those coins kept earning staking yield at the same time.
The yield itself is projected at around 3% APY, paid weekly in BTC.
STX staking climbs after PoX-5 Stacks also reported that staking of its native STX token rose over 25% following the PoX-5 hard fork. That upgrade took effect on July 30, 2026. Since then, staked STX climbed from 392 million to 493 million tokens.
PoX stands for Proof of Transfer, the consensus mechanism Stacks has used since 2021. Rather than burning energy like Bitcoin miners, Stacks miners commit BTC to participate in the network. According to the update, those miners have committed over 4,200 BTC since the mechanism launched in 2021. PoX-5 is the latest revision of that system, and the Genesis Bond followed its activation by about six weeks.
Who showed up Stacks named 21Shares, HashKey Cloud, UTXO Management, and Sypher Capital among the institutions that participated. On the custody side, integrations came from Fireblocks, Fordefi, and Anchorage Digital.
What this means for Stacks and Bitcoin yield Around 483 of Bond 2’s roughly 505 BTC flowed through stBTC, meaning a single liquid staking provider accounted for the bulk of the second round.
Stacks expects Bond 3 to launch around November.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
With a Saturn Cloud Stack, every new customer's inference service is a single deployment, running in an isolated tenant cluster on the operator's own GPUs.
, /PRNewswire/ -- Saturn Cloud, the AI token factory platform, and vCluster Labs, the platform operators use to build and run their own AI cloud like a hyperscaler, today announced a partnership to help AI clouds sell managed, per-token inference on their own GPUs.
As a first step, Saturn Cloud is coming to vCluster Stack, a single, reusable, pre-validated deployment template that installs the Saturn Cloud platform inside an isolated tenant cluster. The partnership gives AI cloud providers a repeatable way to launch a managed inference service, where each customer gets their own isolated environment and per-token endpoints on the operator's GPUs. This follows Saturn Cloud's integrations with NVIDIA DSX OS and NVIDIA Run:ai, which give operators on NVIDIA infrastructure the same managed platform without building it themselves.
"The neoclouds we talk to want to sell inference without reinventing how they isolate each customer," said Sebastian Metti, founder and CEO of Saturn Cloud. "With Saturn Cloud as a vCluster Stack, our token factory, fine-tuning, and per-token billing deploy straight into a tenant the operator already trusts. One deployment instead of a custom integration for every customer."
Saturn Cloud Sells the Tokens, vCluster Isolates Each Customer, Stacks Repeats at Scale
Saturn Cloud turns GPUs into per-token inference customers can call. Operators get per-token endpoints, fine-tuning, and usage billing in a self-service portal under their own brand. Inference is the first Stack, and the same platform also runs dedicated GPU capacity, managed fine-tuning, and distributed training on the same fleet.
vCluster gives every customer an isolated cluster of its own. Each customer gets its own tenant cluster with a virtualized control plane. With Private Nodes, each tenant also runs on dedicated nodes, with network, storage, and compute isolated per tenant.
Stacks packages the whole environment so it deploys the same way every time. The Saturn Cloud Stack describes what to install, in what order, and what must be healthy before the next step. Each deployment becomes its own managed environment, with its own health status, logs, and clean removal.
One Deployment for Launching Managed Inference
Consider an AI cloud that wants to offer enterprise customers private inference. With vCluster and Saturn Cloud, the workflow is straightforward. The operator creates the customer's tenant cluster on Private Nodes, running on GPU servers they already own. They deploy the Saturn Cloud stack into it, and the customer can start calling per-token endpoints. Onboarding the next customer follows the same automated process, consistent every time.
A Faster Route to Revenue on GPUs AI Clouds Already Own
AI cloud providers can now define the environment once, then deploy per customer so inference sells alongside GPU capacity and Kubernetes, Slurm, and Ray clusters on the same fleet. Customers get a private inference service with endpoints ready to call.
"AI clouds are moving from renting GPUs to selling services, because the margins are in the services, not the servers," said Lukas Gentele, co-founder and CEO of vCluster Labs. "The providers that win will launch a new service for every customer without a new build. vCluster Stacks and Saturn Cloud make per-token inference one of those services: packaged once and sold to every customer, each in an isolated tenant cluster of its own."
The First Saturn Cloud Stack Is Available Now
The first version of the Saturn Cloud Stack, built by vCluster engineers from Saturn Cloud's Kubernetes installation, is available today. Operators can adapt it to their own environments.
Learn more about Stacks in vCluster Platform 4.12, or contact Saturn Cloud or vCluster Labs to plan a managed inference offering.
About Saturn Cloud
Saturn Cloud is the AI token factory platform for neoclouds, AI Factory operators, and enterprises. It turns GPU infrastructure into managed services for fine-tuning, model serving, and per-token billing, with standard inference endpoints, distributed training, and managed environments. Enterprise security and governance are built in, across public, private, and on-premises environments. Learn more at saturncloud.io.
About vCluster Labs
vCluster Labs is the platform operators use to build and run their own AI cloud, like a hyperscaler. vCluster turns raw GPUs into cluster products they can sell, from bare metal provisioning through managed Kubernetes, Slurm, and inference clusters, with tenant isolation at the infrastructure layer. The result is more margin per GPU, less dependence on a few big customers, and new managed services live in days instead of months. Trusted by fast-growing AI cloud providers including Nebius, Groq, Firmus, and Corvex, and by enterprises including Adobe, Samsung, and Deloitte, across 100K+ GPUs. Learn more at vcluster.com.
Red Robin's lineup includes a new limited-time burger, returning fan-favorite burgers to value menu, bottomless refresher beverages and more starting Oct. 19
KEY POINTS:
Starting Oct. 19, Red Robin's new Prime Rib Stack Burger will be available for a limited time at participating locations nationwide. The Red Robin Prime Rib Stack Burger features a juicy beef burger patty, sliced prime rib, Monterey Jack cheese, caramelized onions and garlic aioli on a black-and-white sesame seed brioche bun, served with a bottomless side.
Red Robin is bringing back two fan-favorite burgers, the Bleu Ribbon Burger and Burnin' Love® Burger, that will both be available on the Big YUMMM Deals menu on Oct. 19. Starting at $9.99*, guests can enjoy an entrée, bottomless side and beverage, offering even more delicious options at a great value.
Red Robin launches new line of bottomless Refreshers with five different options. Guests can energize any Refresher flavor with Red Bull®.
, /PRNewswire/ -- Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) is introducing the new, limited-time Prime Rib Stack Burger, a meat-on-meat masterpiece for guests looking for a premium burger experience. That's not all, Red Robin is bringing back two fan-favorite burgers to the Big YUMMM Deals menu, delivering even more YUMMM and value. The new menu and returning items will be available at participating Red Robin locations nationwide starting Oct. 19.
Starting Oct. 19, Red Robin’s new Prime Rib Stack Burger will be available for a limited time at participating locations nationwide. The Red Robin Prime Rib Stack Burger features a juicy beef burger patty, sliced prime rib, Monterey Jack cheese, caramelized onions and garlic aioli on a black-and-white sesame seed brioche bun, served with a bottomless side.
Red Robin’s lineup includes a new limited-time burger, returning fan-favorite burgers to value menu, bottomless refresher beverages and more starting Oct. 19. For more information on the new menu offerings or to find a location, visit RedRobin.com/new-menu-items.
The Red Robin Prime Rib Stack Burger delivers an over-the-top burger experience made for the meat lovers seeking bold, indulgent flavors. The limited-time burger features a hand-pressed beef patty, tender sliced prime rib, Monterey Jack cheese, caramelized onion and garlic aioli on a black-and-white sesame seed brioche bun, served with a bottomless side.
The burger goodness doesn't stop there. Red Robin is also bringing back two fan-favorite burgers, the Bleu Ribbon Burger and Burnin' Love Burger®, to its Big YUMMM Deals menu, giving burger lovers even more craveable choices at a great value. The Bleu Ribbon Burger features HEINZ 57® Sauce, bleu cheese crumbles, crispy onion straws, lettuce, tomato and green chili aioli on a brioche bun, while the Burnin' Love Burger returns with fried jalapeño coins, salsa, pepper jack cheese, lettuce, tomato and green chili aioli on a brioche bun, both served with a bottomless side and bottomless beverage.
"Burgers are in our DNA, and we wanted to create a burger that brings a little extra indulgence to the table. The Prime Rib Stack Burger is piled high with all the good stuff – a juicy beef patty, tender sliced prime rib, melty cheese and plenty of flavor in every bite," said Brian Sullivan, executive chef and vice president of Culinary & Beverage Innovation at Red Robin. "We're carrying that same spirit into our beverages, with our new bottomless Refreshers, which tap into some of the most fun and current beverage trends our guests crave. From an over-the-top burger to bold, playful drinks, we can't wait for guests to dig in and try all the delicious new items coming to Red Robin."
Red Robin isn't done rolling out new flavors just yet! From appetizers to desserts, even more satisfying menu items are joining the lineup, including:
Spinach Artichoke Dip: Cheesy spinach artichoke dip topped with grated Parmesan and served with warm tortilla chips.
New Chicken Wing Flavors: Available in Lemon Pepper, which combines classic lemon pepper seasoning with a savory citrusy punch, and Lemon Pepper Buzz, which adds a spark with Red Robin's signature Buffalo-style sauce for a tangy, spicy finish.
Signature Grilled Chicken & Broccoli: Tender grilled chicken breast finished your way with a choice of ancho marinade, Whiskey River® BBQ sauce, teriyaki or blackened.
Cookie Dough Milkshake: Vanilla soft serve blended with cookie dough, topped with whipped cream, chocolate syrup and cookie dough. Also available in chocolate soft serve.
Salted Caramel Brownie Milkshake: Vanilla soft serve blended with chocolate chip brownies, salted caramel and chocolate, topped with whipped cream and caramel sauce.
To wash down all those mouthwatering flavors, Red Robin is launching a new line of Bottomless Refreshers. Guests can energize any Refresher flavor with Red Bull®, giving them a colorful, refreshing option to sip alongside their favorite meal. The new beverage will be available in a variety of flavors including Tropical Dragon Fruit, Mango Passion Lemonade, Sunset Lemonade, Poppin' Purple Lemonade and Raspberry Limeade.
For more information on the new menu offerings or to find a location, visit RedRobin.com/new-menu-items.
*Not valid with other offers or rewards. The Big YUMMM Deals meal options are available for dine-in at participating locations for a limited time. Offer valid for to-go and delivery orders placed at RedRobin.com or on the Red Robin app at participating locations for a limited time. Offer not valid for third-party delivery orders. Availability, pricing and menu items may vary by location. Bottomless sides and beverages are not available for to-go or delivery orders. Hot tea or coffee beverage choices are not available for to-go or delivery orders. No substitutions permitted. Additional fees apply to upgrades and add-ons. Offer subject to change without notice. Full terms & conditions at RedRobin.com/the-big-yummm.
About Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB)
Red Robin Gourmet Burgers, Inc. (www.redrobin.com), is a casual dining restaurant chain founded in 1969 that operates through its wholly owned subsidiary, Red Robin International, Inc., and under the trade name, Red Robin Gourmet Burgers and Brews. We believe nothing brings people together like burgers and fun around our table, and no one makes moments of connection over craveable food more memorable than Red Robin. We serve a variety of burgers and mainstream favorites to Guests of all ages in a casual, playful atmosphere. In addition to our many burger offerings, Red Robin serves a wide array of salads, appetizers, entrees, desserts, signature beverages and Donatos® Pizza at select locations. It's easy to enjoy Red Robin anywhere with online ordering available for to-go, delivery and catering. Sign up for the royal treatment by joining Red Robin Royalty® today and enjoy Bottomless perks and delicious rewards across nearly 500 Red Robin locations in the United States and Canada, including those operating under franchise agreements. Red Robin… YUMMM®!
Stacks token [STX] was trading around the $0.4182 price area on October 13 after a slight touch of $0.4502. Separately, Stacks Labs had reported second Bitcoin staking round, which was full with 500+ BTC and joined by over 6.7M STX.
The filled round shows participation in a program that pairs Bitcoin with locked STX, but it does not show why its price rose.
What the filled staking round means In its October 12 update, Stacks Labs said most of Bond 2 filled through Stacking DAO, with the Xverse pool also participating. The program hopes to give a return to users of 3% on their bitcoin, paid in BTC, with no guarantees on return.
Through Stacking DAO, users receive stBTC [representing the share of their position], and they can use it in financial apps in Stacks [for example, as collateral to borrow USDCx], and they continue to receive staking rewards.
The distinction between participation routes matters because:
Approved direct participants keep their Bitcoin locked under their own custody. Open pools use sBTC, Bitcoin-backed asset on Stacks, and are not fully self-custodial Bonding STX limits its availability during the lock period, but those tokens are not permanently removed.
STX retreats from $0.45 The daily chart showed STX up 1.83% from its previous daily close at the time of this writing. It remained about 7.1% below the session high, with the trading still going on.
The latest two candles actually topped out at a higher price but quickly came back down. Hence, the $0.45 and $0.46 area stands out as an obvious hurdle.
Source: TradingView Its trading prices have hovered above the key averages after this rise, supporting the rally. Holding above $0.40 will give another opportunity to attempt the resistance.
If that level gives way, traders could start looking at the $0.37–$0.38 price areas. If it trades steadily above $0.46, the outlook for recovery looks good
Another staking round is approaching Bond 3 is expected to launch around November 10, according to Stacks Labs. Anyone wanting to take part directly must hold at least 50 BTC and be approved, but it can also be done through partner pools according to the requirements set by them.
The next round will show how the level of participation has increased or decreased. For STX’s immediate outlook, it remains to be seen whether buyers can defend the $0.40 price area.
Final Summary Bond 2 filled about 500 BTC of capacity, with more than 6.7 million STX bonded alongside it. STX remained above the $0.40 price level, but its pullback from $0.45 means nearby resistance remained unchallenged.
This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.
While major cryptocurrencies remain choppy, STX, the native token of the Bitcoin layer-2 project Stacks, is rallying. The cryptocurrency has surged nearly 10% in 24 hours, 14% over the past week and more than 50% in four weeks, outperforming bitcoin BTC$83,473.49, ether ETH$2,515.18, XRP (XRP) and other cryptocurrencies.
The outperformance likely reflects investor interest in Stacks’ non-custodial bitcoin staking architecture. This framework lets BTC holders stake and earn yield directly on the main Bitcoin blockchain while retaining strict control of their private keys. In contrast, traditional frameworks require users to wrap their assets into synthetic tokens (like wBTC) or move funds over cross-chain bridges to earn additional yield.
Stacks’ framework relies on a mechanism called "bonding," which requires participants to lock up assets to secure the network. The "Bonding Period 3,” due in November, requires participants holding native STX to lock a specific ratio of STX alongside their BTC — equivalent to roughly 5% of the total value of their BTC — to successfully secure protocol stacking capacity.
This creates a positive feedback loop for STX: As more BTC moves into the Stacks ecosystem, a larger portion of STX is systematically locked up and removed from the active market. By tying bitcoin liquidity directly to STX scarcity, the architecture skews demand-supply dynamics heavily in favor of long-term price appreciation.
Period 3 follows Periods 1 and 2, which served as preparatory phases to safely transition signers and bootstrap initial liquidity.
STX is not the only coin to have surged over 24 hours. BDX, REDNER, and PYTH are other major gainers, adding 6% each. It’s a sign of liquidity increasingly pivoting to coins other than the major cryptocurrencies.
Still, the broader context remains tightly bound to macroeconomic indicators. Analysts are getting ready for Wednesday’s U.S. Consumer Price Index (CPI) report, which could heavily influence expectations for upcoming Federal Reserve interest-rate decisions. Stay alert!
Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's "Crypto Week Ahead."
What’s trendingLedger says 'spy' chip inside CryptoBilis Ledger devices transmitted wallet keys over mobile network (CoinDesk): Covert hardware implanted in some Ledger crypto wallet devices read users’ 24-word recovery phrases and sent them to an attacker over a mobile phone network.Global semiconductor stocks sell-off over AI boom worries pulls Asian shares lower (AP): Global shares were mixed, but a selloff in chipmaker shares pulled Asian shares lower, with South Korea’s benchmark Kospi index falling more than 5%. U.S. futures edged higher, and oil prices fell.Bitcoin whale that sat through the March 2020 crash moves $378 million (CoinDesk): A bitcoin whale who received their coins days before the Covid crash of March 2020 and sat through it has moved $377.6 million worth of BTC.U.S. Treasury yields fall as energy prices pull back (CNB): Bond yields fell after energy prices dropped in early trading as investors looked ahead to key economic data releases this week.Today’s signalEther's daily chart. (TradingView)The chart shows ether’s daily price swings in candlestick format.
The second-largest crypto by market value has fallen back into its established yellow consolidation rectangle. It is currently clinging tightly to that range.
If prices break past the upper end of the consolidation, the market may revisit the recent high of $2,800. If the dual support of $2,400 — the lower end of the consolidation and the bullish channel — gives way, then it would mean an end to the rally from the July lows.
Stacks (STX) has climbed 6.74% in the past 24 hours to $0.4119, extending its weekly gains to 10.28% as interest grows around the network’s Bitcoin staking program and its upcoming November bonding period.
Summary
Stacks gained 6.74% over 24 hours and traded near $0.4119, according to supplied CoinGecko data. STX recorded $108.7 million in daily trading volume, with market capitalization reaching approximately $772 million. Stacks requires participants to lock STX worth 5% of their Bitcoin holdings for protocol bonding. Analyst Elite Crypto identified $0.476 resistance and suggested $0.70 as a potential breakout price target. The third Bitcoin staking bonding period is expected around November 10, according to CoinMarketCal’s calendar. CoinGecko market data showed STX recording approximately $108.7 million in daily trading volume, with a market capitalization of $772.4 million. The cryptocurrency traded between $0.3776 and $0.46 during the previous 24 hours, outperforming several major digital assets during the observed period. Its gains followed the launch of Stacks’ institutional Bitcoin staking program, which requires participants to lock STX alongside their Bitcoin holdings.
Stacks price rises as Bitcoin staking attracts attention According to CoinGecko data, STX had risen 10.28% over seven days, while another performance snapshot showed gains of 29% over 14 days and 51.5% over 30 days. The token remained approximately 89.3% below its all-time high of $3.86 despite the recent recovery.
Stacks’ rally comes as the blockchain develops financial services that allow Bitcoin holders to earn BTC rewards without transferring their assets through traditional cross-chain bridges. Its self-custodial staking system lets participants lock Bitcoin directly on the main Bitcoin blockchain while retaining control of their private keys.
Stacks Labs explained that participants must pair their BTC with STX worth approximately 5% of the Bitcoin position’s value. The required STX allocation determines the staking capacity a participant can access during a bonding period.
The program distributes Bitcoin rewards generated through Stacks’ Proof of Transfer mechanism. Miners contribute BTC when competing to produce blocks, and the network allocates those rewards to eligible participants.
Under the initial arrangement, approved participants lock their assets for approximately six months and receive BTC rewards weekly. Stacks has stated an annualized target yield of approximately 3%, although the actual amount depends on mining activity and network conditions.
The recent STX price rally linked to Bitcoin staking followed growing participation in the protocol’s first institutional bonding program. The initial Genesis Bond attracted approximately 230 BTC and 3.57 million STX from participants including 21Shares, HashKey Cloud, UTXO Management and Sypher Capital.
Stacks prepares third Bitcoin staking bonding period Following the initial program launch, attention has turned toward Bonding Period 3, expected to open around November 10. CoinMarketCal listed the event as the next stage of Stacks’ Bitcoin staking program, although the calendar date remains an estimate.
Under the protocol’s current design, participants must lock STX valued at 5% of their bonded BTC holdings. The mechanism creates demand for STX from users seeking to access Bitcoin staking capacity, with the required quantity determined by the value of the Bitcoin committed.
For example, a participant bonding $1 million worth of BTC would need approximately $50,000 in STX under the current ratio. The requirement applies to the initial PoX-5 phase, while the future PoX-6 system is designed to determine its ratio through market-based mechanisms.
Stacks Labs confirmed in its October 7 technical update that PoX-5 began operating after the July 30 hard fork. During this phase, the Stacks Endowment sets bonding capacity, target yield and the BTC-to-STX ratio.
Each bonding period lasts approximately six months, with new periods opening around once a month. Direct participation remains limited to approved participants during the initial phase, while pooled staking provides another route for users seeking exposure.
The subsequent PoX-6 phase is intended to remove the whitelist and introduce open auctions for staking capacity. Stacks Labs has not announced a confirmed activation date, saying the next phase depends on development progress and governance approval.
STX price approaches key resistance near $0.45 Following the recent rally, STX has approached an important resistance region between $0.45 and $0.476. Crypto analyst Elite Crypto suggested that the token had broken out of a descending wedge pattern after reclaiming earlier price levels around $0.203 and $0.288.
While $BTC is pulling back, $STX is moving in the opposite direction.
STX has broken out of a long descending wedge and reclaimed the $0.203 and $0.288 levels. Price is now pushing toward $0.476 resistance.
Normally, STX tends to take cues from BTC because it's part of the… https://t.co/ZGZJ3jEzoD pic.twitter.com/RSATIKd8th
— Elite Crypto (@TheEliteCrypto) October 13, 2026 The analyst identified $0.476 as the next resistance level and outlined $0.70 as a possible target if STX breaks above that threshold. His projection depends on confirmation of the breakout and does not establish that the cryptocurrency will reach the proposed price.
The supplied daily chart showed STX recovering from August lows near $0.12, forming higher highs and higher lows through September and October. Its latest recorded daily high was $0.4502, while support remained near $0.40, followed by 0.35–0.37.
The Moving Average Convergence Divergence indicator supported the recent bullish price structure, although momentum showed signs of slowing. The MACD line stood at 0.0307, slightly above its signal line at 0.0301, while the histogram remained positive at 0.0006.
The narrow distance between the two MACD lines indicated that upward momentum had weakened compared with earlier stages of the recovery. A bearish crossover would increase the possibility of short-term consolidation or a correction, according to the supplied technical analysis.
Stacks (STX) price chart, source: TradingView Meanwhile, the Relative Strength Index stood at 70.95, above its moving average of 68.15. The reading placed STX slightly above the conventional overbought threshold of 70, indicating strong buying momentum alongside increased potential for profit-taking.
A sustained move above $0.45 would strengthen the near-term bullish structure, while a drop below $0.40 could expose the cryptocurrency to lower support around $0.35.
Bitcoin staking program continues expanding through PoX-5 The Stacks Bitcoin staking system began its institutional rollout in September 2026, with the Genesis Bond opening to approved participants. Stacks Labs announced that the program included participation from UTXO Management, 21Shares, HashKey Cloud and Sypher Capital.
Through the protocol, Bitcoin remains locked on the main network using timelock transactions, while the corresponding STX position is committed on Stacks. Participants retain their Bitcoin keys, and the protocol does not use wrapped BTC for its self-custodial staking arrangement.
The system does not include protocol-level slashing of bonded BTC, according to Stacks Labs. However, participants remain exposed to changes in STX prices, the period during which their assets are locked and potential risks involving new smart contracts.
Stacks’ technical documentation states that early withdrawals can return bonded BTC while forfeiting remaining yield. The paired STX commitment remains locked for the original bonding period.
The protocol’s next development stage, PoX-6, will require another governance proposal and approval through the Stacks Improvement Proposal process. Stacks Labs said engineers would use data gathered during PoX-5 to determine the auction mechanisms, reward calculations and participation requirements for the future system.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Stacks, Babylon and Core are among the best Bitcoin staking platforms in 2026 for holders who want to earn rewards while keeping native BTC on Bitcoin Layer 1, although their reward structures and risks differ considerably.
Summary
Stacks targets approximately 3% annualized BTC rewards through Proof of Transfer, although direct staking requires a separate STX commitment and remains restricted during PoX-5. Babylon and Core allow holders to stake native BTC without wrapping or bridging, but rewards are paid in BABY and CORE tokens, with additional staking needed for higher rates. Starknet and Stacking DAO use tokenized Bitcoin positions, offering access to DeFi applications while introducing additional smart contract and liquidity risks. Lockup conditions vary across platforms, with Stacks requiring a six month bond, Babylon using a longer native staking term and Core allowing users to select their commitment period. Advertised yields are not guaranteed, and actual returns depend on reward token prices, protocol participation, withdrawal conditions and staking requirements. For long term Bitcoin holders prioritizing self custody and rewards paid in BTC, Stacks currently offers the strongest combination of those features. Its direct Bitcoin Staking model targets roughly 3% annualized yield, with rewards funded by BTC committed by Stacks miners through Proof of Transfer.
Babylon and Core provide similar native Bitcoin custody arrangements but pay rewards in their respective protocol tokens. Starknet and Stacking DAO use tokenized Bitcoin positions, offering greater flexibility for holders who want to access decentralized finance applications.
Choosing between them requires more than comparing the advertised annual percentage yield. Custody arrangements, reward assets, withdrawal conditions and additional token requirements can make a lower yielding option more suitable for certain BTC holders.
Best Bitcoin staking platforms: Quick comparison PlatformBTC positionRewardsYield sourceCurrent or target yieldSecond tokenMain tradeoffStacksNative BTC on Bitcoin L1BTCBTC committed by miners through PoX~3% target APYSTX worth ~5% of BTC positionSTX exposure and six month bondBabylonNative BTC on Bitcoin L1BABYBABY token emissions~0.04% base APR, up to ~0.60% with co stakingBABY optional for higher yieldSlashing and BABY price exposureCoreNative BTC on Bitcoin L1CORECORE emissions and network feesBelow 0.1% for BTC only; indicative ~2% to 3% with Dual StakingCORE optional for higher yieldCORE exposure for higher rewardsStarknetTokenized BTC on StarknetSTRKNewly minted STRK~4% indicative, variableNone required for stakingTokenized BTC and STRK exposureStacking DAOsBTC based liquid positionBTC denominatedStacks PoX miner BTC bids2.18% displayed APY; earlier ~2.6% net targetNo STX contribution required from usersBTC and smart contract exposure Yields are indicative or targeted and may change. APR and APY are not directly interchangeable. Returns depend on protocol parameters, token prices and participation conditions.
Headline APY alone cannot establish which platform offers the better return for a particular holder. The reward asset, source of yield, withdrawal conditions and risks attached to the Bitcoin position can be just as important.
Which Bitcoin staking platforms keep BTC self custodial on Bitcoin L1? Stacks, Babylon and Core allow BTC to remain native on Bitcoin under the holder’s keys. Starknet and Stacking DAO use tokenized Bitcoin positions that introduce additional infrastructure and different custody arrangements.
Stacks Stacks keeps BTC on Bitcoin Layer 1 through native timelocks, allowing holders to retain control of their Bitcoin keys without using a bridge, wrapped token or third party custodian.
Under the direct Bitcoin Staking model, participants lock BTC on Bitcoin and commit STX separately on Stacks. The two positions form a protocol bond, while the underlying BTC remains under the holder’s keys.
Stacks outlines the direct, pooled and liquid routes on its Bitcoin Staking options page. Direct staking currently requires approval during PoX-5, while the planned PoX-6 upgrade is intended to remove that restriction and allow permissionless participation.
Babylon Babylon similarly lets BTC holders stake native Bitcoin without using a bridge or wrapped token.
Its Bitcoin staking architecture uses Bitcoin scripts to lock BTC while delegating economic security to finality providers and connected networks.
The holder maintains control of their Bitcoin, but the protocol introduces slashing. A portion of the staked BTC can be forfeited if the delegated finality provider violates the relevant security rules.
Core Core’s self custodial Bitcoin staking relies on native Bitcoin timelocks, allowing holders to delegate their stake to Core validators without wrapping or bridging BTC.
The holder chooses a lockup period and specifies a validator and reward address in the staking transaction. BTC becomes available again after the timelock expires.
Starknet Starknet uses tokenized Bitcoin on its own network rather than locking native BTC directly on Bitcoin Layer 1.
Its Bitcoin staking guide identifies supported assets including WBTC, LBTC, SolvBTC and tBTC. Holders delegate those assets to validators and receive STRK rewards.
Users can stake directly through supported wallets or access liquid staking positions that remain usable in decentralized applications.
Stacking DAO Stacking DAO uses sBTC, a Bitcoin backed asset on Stacks, rather than keeping the user’s deposited position as native BTC under a Bitcoin Layer 1 timelock.
Users deposit BTC or sBTC and receive stBTC through its liquid Bitcoin staking product. The token represents an underlying Bitcoin Staking position and remains transferable while rewards accumulate.
The underlying sBTC participates in Stacks Bitcoin Staking through protocol contracts, while Stacking DAO handles the STX pairing required for the bond.
What rewards do bitcoin staking platforms pay? Bitcoin staking rewards can come from miner contributions or newly issued protocol tokens. The five platforms differ in what they pay and how those returns are generated.
Stacks Stacks targets approximately 3% annualized yield paid in BTC, with rewards funded through Proof of Transfer. Stacks miners commit BTC to compete for block production and earn STX rewards, while their Bitcoin commitments provide the funds distributed to eligible stakers.
According to the Bitcoin Staking resource hub, PoX has distributed more than 4,200 BTC since January 2021. Direct Bitcoin Staking participants receive weekly BTC payouts, with protocol bonds receiving priority in the reward distribution process.
The 3% annualized rate is a target rather than a guaranteed return, with actual payouts dependent on the BTC available through the system.
Babylon Babylon pays Bitcoin stakers in BABY, its native protocol token, with rewards funded through new BABY issuance.
The official staking dashboard has displayed base BTC staking APR around 0.04%, with higher rates reaching approximately 0.60% for participants who stake BABY alongside their Bitcoin.
Babylon’s co staking model rewards users who commit both assets, with the boost determined by the amount of BABY staked relative to BTC.
Since rewards are paid in BABY, the BTC value of the return changes with BABY’s market price. A positive BABY reward rate does not necessarily translate into an equivalent increase in the holder’s Bitcoin balance.
Core Core pays Bitcoin stakers in CORE tokens from network block rewards and a portion of transaction fees.
The protocol allows BTC only staking without holding CORE, although the base yield has been below 0.1% in the comparison figures.
Higher returns are available through Core Dual Staking, which requires holders to stake CORE alongside Bitcoin.
The model divides participants into reward tiers according to the CORE to BTC ratio. Users staking more CORE relative to their Bitcoin positions qualify for higher reward multipliers.
Dual Staking returns have been commonly described in the 2% to 3% range, but the actual rate depends on the selected tier, validator performance and changing market conditions. Core does not offer a single fixed APY across every BTC position.
Starknet Starknet distributes rewards in STRK to users who stake supported tokenized Bitcoin assets.
According to its Bitcoin staking documentation, newly minted STRK provides the rewards, with the distribution depending on the amount of Bitcoin staked and the validator’s participation.
Approximately 4% has been used as an indicative Bitcoin staking yield, although the realized rate can differ because STRK issuance, BTC staking participation and the STRK to BTC exchange rate all affect returns.
Users do not need to stake STRK alongside their Bitcoin to participate as delegators. They may, however, need STRK to cover network fees depending on the wallet used.
Stacking DAO Stacking DAO provides BTC denominated yield through stBTC, with rewards sourced from the same PoX miner commitments that support Stacks Bitcoin Staking.
Its initial product documentation targeted approximately 2.6% net annualized yield. The Stacking DAO website displayed approximately 2.18% BTC APY during the October review, illustrating why the live rate should be checked before staking.
Unlike a direct BTC payout, rewards accumulate through the stBTC to sBTC exchange rate. As rewards are collected and reinvested, each stBTC is designed to represent an increasing amount of sBTC.
Stacking DAO supplies the underlying STX requirement through its staking infrastructure. Users are not required to contribute the roughly 5% STX pairing themselves.
What are the main risks and tradeoffs? PlatformMain tradeoffLiquidity and exitAdditional exposureStacksSTX pairing and bond durationEarly BTC withdrawal available; STX remains locked for the bond termSTX price and variable miner revenueBabylonBTC slashingUnbonding process appliesFinality provider behavior and BABY priceCoreHigher yield requires COREBTC unlocks after the selected staking period expiresCORE price and validator performanceStarknetRequires tokenized BTCDelegation withdrawals or liquid staking optionsWrapper, smart contract and STRK price risksStacking DAOAdditional staking infrastructurestBTC transferable; redemptions depend on liquidity or cooldownsBTC signer and smart contract risks Stacks Direct Bitcoin Staking requires participants to commit STX worth approximately 5% of their BTC position for the full six month bonding period. Changes in the STX price can affect the value of that commitment.
BTC can be withdrawn before the bond expires, but doing so forfeits future staking rewards. The associated STX remains locked until the original term ends. Direct bonds do not introduce BTC slashing, although the targeted yield depends on miner BTC commitments.
Participation is currently restricted to approved holders during PoX-5, with the institutional onboarding program directed at holders with at least 50 BTC. Stacks plans to open direct staking to all Bitcoin holders under PoX-6, but the upgrade does not yet have a confirmed activation date.
Babylon Babylon does not require holders to acquire BABY for basic native BTC staking.
Its main risk comes from the slashing mechanism. A delegated finality provider that violates security conditions can cause part of the associated Bitcoin stake to be forfeited.
Staked BTC remains on Bitcoin, but self custody should not be confused with protection against protocol penalties.
Babylon’s staking FAQ identifies a current native staking term of 64,000 Bitcoin blocks, roughly 15 months, although users can request early unbonding under the protocol’s withdrawal rules.
Unbonding involves additional waiting time, and a position cannot be partially unbonded. Holders must withdraw the entire stake through the applicable process.
Core Core allows holders to choose their BTC lockup period when staking, with withdrawals available once that period expires. The official staking interface requires a minimum commitment of five days, although shorter periods are possible through direct Bitcoin scripting.
However, the base reward rate is low. Holders seeking substantially higher returns generally need to purchase or stake CORE alongside their BTC.
Changes in the CORE price can offset the value of rewards earned, and the amount required for boosted staking tiers can change through protocol governance.
Core’s benefit is flexible native custody, while the tradeoff is reliance on CORE exposure for competitive rewards.
Starknet Starknet users must first obtain a supported tokenized version of Bitcoin.
The wrapper’s backing arrangements, bridging process and smart contracts introduce risks not present when BTC remains locked directly on Bitcoin Layer 1.
Rewards paid in STRK add price exposure to the underlying Bitcoin position. Holders seeking liquidity can use liquid staking products, but those introduce additional token and contract dependencies.
Starknet’s strength is access to DeFi applications rather than the simplicity of native BTC custody.
Stacking DAO Stacking DAO allows holders to retain a liquid stBTC position while earning Bitcoin denominated yield.
The token can be transferred, traded or used in supported DeFi applications. It can also be redeemed into sBTC through the protocol’s withdrawal mechanism.
According to the Stacking DAO withdrawal information, instant redemption depends on available reserve liquidity and involves a fee. Standard stBTC withdrawals have a cooldown of approximately 4,200 Bitcoin blocks, or four weeks.
Users do not need to supply STX themselves, but the underlying Bitcoin position depends on sBTC infrastructure and staking smart contracts. Liquidity in stBTC markets can also vary, particularly when holders need to exit quickly.
Which Bitcoin staking platform is best? The best option depends on whether a holder prioritizes native custody, BTC rewards, shorter lockups or the ability to use a staked position elsewhere.
Stacks is best for native BTC custody and BTC rewards Stacks offers the strongest combination for eligible long term BTC holders who want to retain native Bitcoin custody while earning BTC rewards. Its approximately 3% annualized yield target comes with a separate STX requirement and restricted access to direct staking during PoX-5.
Babylon suits holders who want native BTC staking without another token Babylon allows holders to stake native BTC without acquiring BABY. The tradeoffs are relatively low base rewards paid in BABY and the possibility of BTC slashing.
Core is best for flexible native Bitcoin lockups Core suits holders who want more control over their BTC lockup period. Basic staking does not require CORE, although earning higher rewards through Dual Staking involves committing the token alongside Bitcoin.
Starknet is best for Bitcoin DeFi access Starknet suits holders who want their tokenized Bitcoin positions to remain usable across decentralized applications. Its staking model pays rewards in STRK and introduces additional tokenization and smart contract risks.
Stacking DAO is best for liquid Bitcoin staking on Stacks Stacking DAO suits holders who want BTC denominated yield through Stacks without providing STX themselves. Users receive stBTC, which can remain liquid and be used in supported applications, subject to sBTC and smart contract risks.
Conclusion The best Bitcoin staking platform depends on where the BTC is held, what asset participants earn and how those rewards are generated. Stacks, Babylon and Core allow holders to keep native Bitcoin on Layer 1, while Starknet and Stacking DAO use tokenized Bitcoin positions that introduce additional custody and protocol considerations.
Among the platforms compared, Stacks currently offers the strongest overall combination for eligible long term BTC holders prioritizing native self custody and BTC denominated rewards. Its yield comes from miner commitments through Proof of Transfer, without BTC slashing, although holders must accept the approximately 5% STX requirement, six month bonding period and current restrictions on direct participation.
FAQ 1. What is the best Bitcoin staking platform in 2026? Stacks offers the strongest overall option for eligible long term holders seeking native Bitcoin self custody and BTC denominated yield. Babylon and Core provide alternatives for users prioritizing different token requirements or lockup flexibility, while Starknet and Stacking DAO focus more on tokenized Bitcoin and liquidity.
2. Which Bitcoin staking platforms keep BTC on Bitcoin L1? Stacks, Babylon and Core allow BTC to remain on Bitcoin Layer 1 under the holder’s keys. Starknet and Stacking DAO use tokenized Bitcoin positions and additional infrastructure.
3. Which Bitcoin staking platforms pay rewards in BTC? Direct Stacks Bitcoin Staking pays rewards in native BTC, while Stacking DAO provides BTC denominated yield through stBTC. Babylon pays BABY, Core pays CORE and Starknet pays STRK.
4. Where does Bitcoin staking yield come from? Stacks distributes BTC committed by miners through Proof of Transfer. Babylon pays rewards through newly issued BABY tokens, Core distributes CORE block rewards and network fees, and Starknet pays newly minted STRK. Stacking DAO draws BTC denominated yield from the underlying Stacks Bitcoin Staking mechanism.
5. Is Bitcoin staking safe? Risks vary by platform. Native BTC staking avoids certain bridge and wrapper risks, but participants may face slashing, lockups or additional token exposure. Tokenized alternatives can introduce smart contract, custody and liquidity risks, while advertised yields are not guaranteed.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Bitcoin has spent most of its life as the asset you buy, store, and try not to look at too often. Stacks wants to give it a job.
On October 7, 2026, Stacks founder Muneeb Ali published a vision document describing what he calls the “Satoshi Upgrades.” The goal is a set of protocol changes that would turn Stacks into a hub for Bitcoin capital markets by 2030.
The plan rests on three pillars: capital markets, privacy, and post-quantum security.
The three pillars of the Satoshi Upgrades The first pillar is Bitcoin capital markets, built around yield generation and collateralization. The core components include scaling self-custodial BTC staking and yield generation, and lending activity collateralized by bonded BTC.
The second pillar is privacy, specifically enhancements designed for institutional-grade transactions.
The third pillar is post-quantum security, aimed at protecting against emerging quantum computing threats.
Every one of these activities is meant to settle on Bitcoin’s Layer 1, the base blockchain itself.
Bonds, institutions, and a new CEO The vision did not arrive out of nowhere. It follows the PoX-5 hard fork, which activated on July 30, 2026, and introduced protocol bonds for Bitcoin staking.
The first offering, the Genesis Bond, sold out in September 2026 after raising approximately 230 BTC. Institutional buyers included 21Shares, HashKey Cloud, and UTXO Management.
Stacks then opened Bond 2 in October 2026 with a capacity of 500 BTC, aimed at liquid staking options.
Ali is set to become CEO of Stacks Labs on October 15, 2026, succeeding Alex Miller, who will move into advisory roles. Ali plans to prioritize accelerating institutional business development and streamlining the leadership structure.
Ali announced that Stacks Labs intellectual property will be transferred to the Stacks Endowment, an entity with no shareholders.
A two-year roadmap is expected to follow, focusing on privacy features, post-quantum technology, and expanded yield markets, while extending STX’s utility as capital.
What this means for BTC holders and STX For Bitcoin holders, the proposition comes down to self-custodial yield and BTC-backed lending, which would let long-term holders put idle coins to work without selling them or surrendering custody.
The Genesis Bond offers an early read on demand. A fully subscribed raise of approximately 230 BTC from names like 21Shares and HashKey Cloud suggests institutions are receptive to Bitcoin-linked yield at that size. Bond 2 at 500 BTC is the next real test.
For STX, the token sits at the center of the design as a rate-limiting factor in planned capital market activity.
Near-term markers are clear: watch Ali’s October 15 start as CEO, the subscription pace of Bond 2, the release of the two-year roadmap, and the completion of the transfer to the Stacks Endowment.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
NEW YORK, NY / ACCESS Newswire / October 7, 2026 / As AI adoption explodes, enterprises are stumbling in their efforts to demonstrate a material return on investment, according to a new report from WSJ Intelligence and Code and Theory, a Stagwell (NASDAQ:STGW) agency.
Enterprises now have an average of 183 AI tools. Yet the vast majority (85%) don't have the systems to connect their tech, despite 94% of respondents saying that better orchestration of tools is essential to growth.
These are the key findings from a new study of 801 C-suite executives at U.S. companies with at least $500 million in annual revenue. The results point to what the report defines as "the orchestration gap," a widening distance between deploying AI and operating as a connected, agentic enterprise.
While 85% of the C-suite say AI must now deliver measurable ROI, the opposite appears to be occurring. Three in five executives say tool proliferation has left strategic execution stagnant. And two-thirds of organizations routinely uncover redundant AI investments.
As the report points out, a lack of clear ownership at the top is core to the issue. Nearly half (42%) of CEOs believe they own AI orchestration. Meanwhile, 57% of technology leaders believe the same, and one in four companies admit that no one is clearly accountable.
Executives say that the barriers to orchestration are cultural and structural rather than technical. The main culprits are siloed mindsets and corporate culture (61%), fragmented data and incompatible data models (58%), the absence of a centralized operating layer (56%), skill set gaps (38%) and budget (29%).
Other notable takeaways include:
Only 15% of AI investments currently operate as a unified system with shared intelligence across the organization. Yet more than two-thirds of companies have not issued an RFP for a centralized orchestration system. 78% of executives report that customer-facing channels lack a unified data model and brand architecture. 18% apply the same governance and accountability standards to AI agents that they apply to human leaders. Dan Gardner, Co-Founder of Code and Theory, says: "What business leaders are experiencing now feels very different from the early promise of AI. AI hasn't proven it can autonomously achieve value on its own. Businesses are struggling to connect the people, systems and data around it. What they are missing is an orchestration layer. Once that layer is in place, the opportunity expands from individual efficiency to unlocking value across the entire business."
The full report, "The Orchestration Gap: Why AI Investment Isn't Driving Enterprise Performance," is available at codeandtheory.com/orchestrationgap.
About Code and Theory
Code and Theory is the digital transformation agency where the C-suite comes together to create change. Our differentiated balance of 50% creatives and 50% engineers at scale allows us to bring strategy, creativity and technology together in one integrated offering. This enables our clients to gain competitive advantages in how they operate, market and serve their customers. Code and Theory is Stagwell's (STGW) digital transformation network, which includes its flagship agency, Code and Theory, along with Create. Group, Current, Instrument, Kettle, Left Field Labs and Truelogic. Code and Theory is the most decorated agency of the past three years, with 20 top agency honors, including Ad Age, Adweek and Fast Company. Our clients include Amazon, IBM, JPMorgan Chase, Microsoft, NBC and the NFL. For more, visit codeandtheory.com.
About WSJ Intelligence
WSJ Intelligence conducts best-in-class bespoke thought leadership for commercial clients of The Wall Street Journal, Barron's, MarketWatch, Mansion Global & Investor's Business Daily. Using various qualitative and quantitative methodologies and rigorous analysis, WSJ Intelligence collaborates with clients to create compelling and clear executive-level narratives and uses our world-class brands as distribution channels. WSJ Intelligence is a unit of The Wall Street Journal advertising department. The Wall Street Journal news organization was not involved in the creation of this content.
Media Contact
Kenneth Hein
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SOURCE: Stagwell
View the original press release on ACCESS Newswire
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Muneeb Ali is back in charge at Stacks Labs. His opening move was a pledge to transfer intellectual property to the Stacks Endowment, the entity that funds the company’s work.
Ali, a co-founder of the Bitcoin-focused Stacks network, paired the IP pledge with a two-year roadmap. It centers on Bitcoin privacy and post-quantum technology, and he also committed to a public call with token holders within 30 days.
What Ali is promising Ali is set to formally take the CEO role at Stacks Labs on October 15, 2026. He replaces interim leader Alex Miller, who will shift into an advisory role.
The IP transfer pledge is the headline commitment. The technology and assets developed at Labs would sit with the Endowment rather than with the company doing the building.
That matters because of how the money flows. Stacks Labs is funded by the Stacks Endowment under SIP-031, the governance framework that sets out how the Endowment finances Labs’ operations.
Founder-led entities in the Stacks ecosystem have previously aligned assets with the Endowment, so Ali’s pledge follows an existing pattern rather than inventing a new one.
The two-year roadmap sets out several priorities:
Institutional-grade privacy for Bitcoin-based activity Post-quantum security, meaning cryptography designed to hold up against future quantum computers that could break today’s encryption A 100x capacity improvement for the network Expanded capital markets for Bitcoin yield Institutional engagement more broadly The holder call is expected within 30 days of the late-September announcement.
The market noticed STX, the network’s native token, rose approximately 28% after news of Ali’s return to leadership.
The timing also lines up with a product milestone. Self-custodial Bitcoin staking went live on Stacks in September 2026, with rewards starting to flow to participants in mid-September.
How Stacks got here Stacks Labs was formed as part of a significant restructuring of the Stacks ecosystem in 2025. That reorganization separated the builders from the funders. Labs handles development work, while the Endowment controls the purse strings under SIP-031.
Alex Miller led Labs on an interim basis through that period. His move to an advisory role keeps him in the picture as Ali takes over day-to-day leadership.
What this means for STX holders and the ecosystem The IP transfer pledge is arguably more important than the price move. By pledging IP to the Endowment, Ali is signaling that Labs’ output belongs to the ecosystem’s funding body. A pledge is not the same as a completed transfer, and the specifics will matter.
The holder call is the first checkpoint. Expect questions about what IP is covered, when the transfer would happen, and how SIP-031 governance would apply to it.
Watch three things in the coming weeks: Ali’s official start on October 15, the timing and content of the holder call, and any concrete terms for the IP transfer to the Endowment.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Yesterday, Bitcoin ETFs posted a net inflow of $118.8 million, while Ethereum ETFs recorded a net outflow of $201.9 million.
According to monitoring by Farside Investors, U.S. spot Bitcoin ETFs saw a net inflow of $118.8 million yesterday, with IBIT alone posting a net inflow of $122 million. Ethereum ETFs, meanwhile, recorded a net outflow of $201.9 million, marking their sixth consecutive daily net outflow, and all of the outflows were attributed to BlackRock’s ETHA.
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Hark, from the founder of Figure AI, is now officially live, accessible on Web, iOS, and Android.
Beating AI News (from Dongcha) – Figure AI founder Brett Adcock’s personal AI assistant Hark Pro is now fully available, launching on web, iOS, and Android, with free access open to all. The free version of Hark Pro has no feature restrictions, only usage limits. The $20/month Pro2 plan offers double the usage, while the $100/month Pro3 plan provides 10x the usage. All three plans have identical functionality; upgrades are solely for higher usage quotas. Hark can retain user information long-term and uses its own cloud computer to operate websites on behalf of users. It supports running up to six browsers simultaneously, handling tasks like food ordering, shopping, emails, and bill payments, and integrates with Google Workspace and Microsoft 365. Hark also includes long-term project conversations, on-demand small app generation, and action cards that proactively identify to-dos and process them with one click. For instance, after detecting bills or unused subscriptions, users can directly ask Hark to make payments or cancel them. Since Hark stores website passwords and credit card details, the company has built a dedicated encrypted vault named "Secured by Hark". The official notes that passwords and card information remain encrypted, and even Hark itself cannot access them directly.
The top 3 altcoins of the second week of October, Midnight (NIGHT), Pump.fun (PUMP), and Stacks (STX), gained between 21% and 69% over seven days.
However, all three rallies have now reached major resistance zones on the daily chart. Whether those zones break or hold may decide the next leg.
Midnight (NIGHT) Price Rejected Below $0.055NIGHT rose 68.5% over the past week and roughly 200% from its July low. The move came weeks after Midnight’s pivot from developers to builders.
The rally tagged the $0.052 to $0.055 supply zone, which capped price in March. Sellers stepped in immediately, and NIGHT now trades at $0.0451, down 7.6% in 24 hours.
NIGHT daily chart / Source: TradingviewThe Relative Strength Index (RSI) cooled from above 85 but remains overbought near 75. Meanwhile, breakout volume stayed well below March levels, suggesting limited conviction.
A daily close above $0.0466, the 0.786 Fibonacci level, could reopen the path to $0.055. In contrast, losing $0.040 support may send NIGHT toward $0.035 and then $0.030.
Pump.fun (PUMP) Price Holds Above $0.0060PUMP gained 27.3% this week, extending a rally of roughly 457% from its mid-2026 low. The project’s ongoing token buybacks have kept it in focus.
Price broke above the $0.0050 to $0.0054 zone, which rejected PUMP in late August. It now trades at $0.00646, just above the 0.618 Fibonacci level at $0.0060.
PUMP daily chart / Source: TradingviewThe RSI sits near 70. However, it printed a lower high than in August while price set a higher high, a possible bearish divergence.
Holding $0.0060 could push PUMP toward the $0.0071 to $0.0075 resistance zone and later $0.0090. A daily close below $0.0060 may trigger a retest of $0.0050 to $0.0054.
Stacks (STX) Price Tests the $0.40 BreakoutSTX added 20.9% in seven days and roughly 237% since its August low near $0.118. Binance added STX to its Monitoring Tag in July, before the rebound began.
The token now trades at $0.3965, pressing into the $0.381 to $0.396 zone that capped price in January. Volume supports the move, with sharp spikes during both the August reversal and the early October push.
STX daily chart / Source: TradingviewThe RSI holds steady near 70, although it also shows a lower high than in August.
A daily close above $0.40 could open the way to $0.4528, the November 2025 high. Conversely, a drop below $0.381 would signal a failed breakout, exposing $0.325 to $0.341 and then $0.285.
Of the three, STX is the only one actively testing a breakout, while NIGHT is fighting a fresh rejection.
Disclaimer
This Analysis reflects BeInCrypto's editorial interpretation of information and data available at publication and may become outdated. It is general and non-personalised, does not consider your circumstances, and is not investment research, financial, investment, legal or tax advice, an offer or a recommendation. Forecasts, targets, technical analysis and forward-looking statements are uncertain and may not materialise; past performance and indicators do not predict future results. References to assets, products or providers do not imply endorsement. Crypto-assets and financial products may result in total loss. Verify material information before acting.
Stacks Labs CTO Adriano Di Luzio has started talking publicly about PoX-6, the next planned version of the network’s Proof of Transfer mechanism. In an October 3, 2026 video, he walked through what he sees as the biggest difference between the upcoming upgrade and the system running today.
The timing matters. PoX-5 only went live this summer, so Stacks is already sketching its successor while the current version is still collecting data.
The broad direction is clear. PoX-6 is planned as the fully decentralized, algorithmic end state of the Stacks staking model.
From curated bootstrap to code-driven auctions To see what PoX-6 is meant to change, start with PoX-5. That hard fork activated on July 30, 2026, at Bitcoin block 960,230.
PoX-5 introduced Bitcoin staking through a structure called protocol bonds. Participants lock BTC on Bitcoin Layer 1 and pair it with STX on the Stacks network. The result is a self-custodial yield product: holders earn returns without handing their Bitcoin to a third party.
The upgrade also preserved rewards for existing STX stackers.
The community vote on SIP-045, the proposal behind PoX-5, cleared with over 99.99% approval.
PoX-5 runs in a bootstrap phase overseen by the Stacks Endowment. During this period, key parameters are curated rather than set by an automated process. Targets for institutional participants sit around a ~3% annual percentage yield on BTC, with a 5% minimum STX pairing.
PoX-6 aims to remove that layer. According to the project’s planned design, the curated parameters would give way to a community-governed framework. Two mechanisms stand out:
Blind auctions for bonding capacity. Instead of allocations being set by the Endowment, capacity would be distributed through consensus-driven blind auctions. Participants submit bids without seeing what others offer, a format used to limit gaming and front-running.
Automated yield adjustments. Yield rates would be adjusted on-chain by the protocol itself rather than by a committee. Reservation and yield adjustment are both expected to rely on consensus-encoded mechanisms.
What is and isn’t settled Specific implementation details for PoX-6 have not yet been ratified. The design direction is public, but the final mechanics still need to pass through Stacks’ governance process.
Much of what PoX-6 becomes will depend on how PoX-5 performs. The bootstrap phase is effectively a live experiment, and its performance metrics are expected to shape the parameters and guardrails of the next version.
STX remains the native token used for stacking and locking under both PoX-5 and PoX-6. The pairing requirement means any growth in BTC participation also routes demand through the Stacks token.
Leadership changes alongside the roadmap The PoX-6 discussion arrives during a leadership transition at Stacks Labs. Founder Muneeb Ali is set to take over as permanent CEO on October 15, 2026.
Institutional participation has already begun under PoX-5. The bootstrap structure, with its curated parameters and Endowment oversight, was built in part to give those early participants predictable terms.
What this means for BTC holders and STX stackers For Bitcoin holders, the pitch is native yield without surrendering custody. PoX-5 offers a version of that today, and PoX-6 aims to make the terms market-driven rather than set by a foundation.
Moving to auctions and algorithmic yields could reduce reliance on the Stacks Endowment and make the system more transparent to outside participants.
The auction model may also change the economics for participants. Blind bidding for bonding capacity introduces competition. A fixed ~3% target is easy to model. A rate set by on-chain mechanics responding to participation is less predictable.
For STX holders, the 5% minimum pairing in the bootstrap phase ties the token directly to BTC staking activity.
The things to watch are concrete. First, how PoX-5’s metrics look as the bootstrap phase matures, since those numbers are expected to inform PoX-6. Second, whether a formal proposal for PoX-6 emerges and how the community votes on it, given the near-unanimous result for SIP-045. Third, how Muneeb Ali’s return as permanent CEO shapes the pace of the transition.
Until PoX-6 details are ratified, the upgrade remains a direction rather than a finished design. Di Luzio’s video signals where Stacks wants to go. The governance process will decide how it actually gets there.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
“My library is an archive of longings,” Susan Sontag wrote in her journal more than 40 years ago. It’s one of those lines that people like me see in a book — her son, David Rieff, published it in a collection of her journals — and write down in a notebook of their own_ _as something to remember, to think about.
Because all libraries are archives of longing: places to imagine, to investigate, to escape. They’re where the information is. They’re where people can go to dream, to plan, to think and above all to learn.
Librarians make that possible. John Maher and Elisabeth Egan, colleagues on The New York Times Book Review, interviewed dozens of them this summer, asking about their jobs and lives and discussing what they provide and need to survive. Here’s what they told us.
What does it mean to be a librarian in the United States right now?
Librarians are defenders of democracy. We’re defenders of the freedom to read. We’re protectors of patron privacy. Libraries are one of the few places in this surveillance economy that are not trying to collect and sell your data to come and use our facilities. — Ed Garcia, Cranston, R.I., Cranston Public Library
We’re a caring profession. We’re supposed to be helping people, not advocating. — Tamika Barnes, Atlanta, Georgia State University Library
What challenges do libraries face today?
Restricted access to information — whether that is book bans, or if people can’t get to a certain location, or if they’re immigrants or new Americans and they don’t even know exactly what a public library is. — Joan Firestein, Baltimore County, Md., Baltimore County Public Library
The loudest voices in the room seem to be people that don’t like libraries. They’re the ones showing up to board meetings complaining about the books they don’t like. Some libraries are being defunded entirely. I don’t think most communities really want that. I don’t even think most conservative communities want that. I see a lot of home-school families with conservative backgrounds, and they’re using the library every day. — Holly Eberle, Algonquin, Ill., Algonquin Area Public Library District
What were your most memorable interactions with people?
A gentleman who had retired needed to go back to work. He did not have email, didn’t have a phone but knew he wanted to be a part-time cart pusher at Walmart because he could walk there and it would supplement his Social Security income. He came in, and we worked with him one day a week for about an hour.
He would come back every now and again to check his email and then he stopped showing up. I went three, four months not knowing what happened to him. Then I went to Walmart one day and saw him pushing carts. He called me over and said, Hey, I got the job. — Conrrado Saldivar, Natrona, Wyo., Natrona County Library
What would librarians do with $10,000 more in their budgets?
I could completely overhaul my nonfiction section. When I started 10 years ago, a paperback was $4.99 or $5.99, and they are $9.99 or $10.99 now. Picture book hardcovers used to be $14 or $15, and now they’re at least $19 or $20. My budget has stayed stagnant or gone down, and book prices have only gone up. We still have Pluto books — Pluto doesn’t even exist as a planet anymore! With $10,000, I could buy every brand-new book that year. $10,000 feels like the moon. — Shawna Dees, Roseville, Minn., Roseville Area Schools
What do they wish we knew about running a library?
We are, in fact, educators. We don’t just sit behind the desk. We do more than just check out books. We educate the whole person. And we don’t know all the answers, but we can show you where to find the answers. — LeeSa McGhee, Milwaukee, Clarke Street School, Milwaukee Public Schools
There’s so much more they told our reporters. And don’t sleep on the comments section!
The now-shuttered Chi Phi fraternity house at Cornell University. — Heather Ainsworth for The New York Times
This case has reverberated across the nation, provoking shock and anger and engulfing Cornell in crisis. Here’s the latest.
War in Ukraine
Politics
Botched Execution
Other Big Stories
Joe Biden’s administration struggled to earn trust. The Trump administration is making the same errors, Karine Jean-Pierre, Biden’s White House press secretary, argues.
A.I. is technology. Stop talking to it like it’s human, a researcher argues.
Friendships that are less active can still be strong ones, a psychologist writes.
**Oxford Street: **Look at these historic photos of London’s famous shopping road.
A.I.: People in China are using chatbots for entertainment, relationships and farming advice. The government is trying to set limits.
Is Claude conscious? Some people at Anthropic are trying to convince religious leaders it could be. Click the video below to watch.
The New York Times
270
— That is at least how many Catholic clerics abused nearly 1,000 children over a century across three Massachusetts dioceses, according to a report released this week by the state attorney general. Read about the investigation.
M.L.B.: The Atlanta Braves beat the Philadelphia Phillies 6-2 in the decisive Game 3 of their National League Wild Card series.
W.N.B.A.: A’ja Wilson had 36 points and 10 rebounds, leading the Las Vegas Aces to a 94-83 closeout win over Caitlin Clark and the Indiana Fever.
N.F.L.: Deshaun Watson led another go-ahead, fourth-quarter drive for the Cleveland Browns, who edged the Pittsburgh Steelers 27-24.
Christopher Testani for The New York Times. Food Stylist: Simon Andrews.
Taco soup has about as much to do with traditional Mexican cuisine as Dr Pepper has business with the C.D.C., but it’s still plenty delicious. Inspired by the hard-shell tacos filled with ground beef you may have eaten in middle school, but made grown-up with fire-roasted tomatoes, green chiles and jalapeños, it’ll provide a warm and cozy welcome to the weekend. Go wild with the toppings: Chopped avocado, pickled red onion, grated Cheddar, pickled jalapeños, sour cream, tortilla chips and lime wedges are all, to my mind, mandatory. Check out this recipe.
Miranda Lambert — Katie McCurdy for The New York Times
Miranda Lambert has been a country superstar for more than two decades, a self-described “gun-toting redneck” with songs — “Gunpowder & Lead,” “Kerosene” — to match. She came to The Times recently, poured herself a mug of “charm juice” (Tito’s and soda) and spoke with the “Popcast” hosts Jon Caramanica and Joe Coscarelli about country music’s long-running cold war with female performers, the surrender of old grudges and the payoff of being “unmanageable.” It’s great. She produced “Choosin’ Texas” for Ella Langley! They talk about the work.
More on culture
Give your gums some love. Really. Forty-two percent of U.S. adults over age 30 show signs of gum disease.
Look at Wirecutter’s Hall of Fame product recommendations. (This was the most clicked story in The Morning yesterday.)
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Take our news quiz.
Here is today’s Spelling Bee. Yesterday’s pangram was honeymooned.
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Thanks for spending part of your morning with The Times and me. See you tomorrow. — Sam
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Stacks founder Muneeb Ali is returning as Stacks Labs CEO, opening a new leadership chapter centered on growing Bitcoin-based financial infrastructure.
Muneeb will be replacing interim CEO Alex Miller, who is shifting into an advisory role following his role in establishing Stacks Labs.
This leadership transition comes as Stacks shifts its focus towards adoption after completing various key infrastructure milestones.
Ali returns with institutional expansion in focus The Stacks network already collaborates with 21Shares, UTXO Management, HashKey Cloud, Anchorage Digital, and Fireblocks as far as Bitcoin staking is concerned.
Additionally, the Genesis Bond was launched with 250 BTC from four institutions, reinforcing Stacks’ push into institutional Bitcoin products.
Anchorage Digital furthermore recently introduced custody infrastructure in support of BTC-denominated rewards while the principal remains on Bitcoin L1.
Beyond institutional adoption, the incoming CEO also identified 100x capacity, institutional-grade privacy, and post-quantum development among his top priorities as he took over his new position.
Ali noted on an X post that he will be working alongside CTO Adriano Di Luzio and the wider team on these important initiatives.
Stacks is also extending institutional engagement across Hong Kong, Korea, and the larger Middle East with the broader objective of bringing more Bitcoin capital into applications built around Stacks.
Source: X STX surges 28.8% after Ali’s return Stacks’ [STX] price responded sharply after news emerged that Ali would return to lead Stacks Labs. Notably, the token surged 28.8% over 24 hours, reaching approximately $0.4039 during the rapid rally.
The rapid move was majorly centered on the renewed attention surrounding Ali’s leadership and Stacks’ plans for its next major development phase.
Additionally, the response was also attributed to the discussion around Bitcoin’s expanding application layer, which renewed attention across the market.
Ultimately, the new leadership transition now puts the institutional expansion, greater network capacity, and Bitcoin-native applications at the center of STX’s next chapter.
Source: CoinGecko Final Summary Muneeb Ali’s return puts institutional expansion and Bitcoin infrastructure back at Stacks’ center. STX jumped 28.8% as investors responded to the renewed leadership and development roadmap.
1 October 2026 | 10:54 Stacks and Midnight gained more than 30% over 24 hours. NEAR, FET and Ethena also advanced, extending altcoin strength despite pressure from high bond yields.
Key Takeaways Stacks and Midnight gained more than 30%. NEAR’s new fund expands U.S. investment access. High bond yields still challenge riskier investments. The five gainers cover Bitcoin applications, privacy, AI and synthetic dollars. Their advances follow a broader improvement documented in Coindoo’s September 27 review of the altcoin recovery, which found that strength had spread across more tokens.
Project 24-hour gain Stacks (STX) 30.8% Midnight (NIGHT) 30.5% NEAR Protocol (NEAR) 12.5% ASI Alliance (FET) 11.7% Ethena (ENA) 10% Market snapshot, October 1, 2026. Figures show rolling 24-hour price changes at 07:40 UTC.
The earlier market review also identified more tokens moving onto exchanges and substantial futures positioning. Those conditions matter when holders take profits: available buyers need to absorb the selling, while leveraged positions can amplify a reversal.
Recent project announcements give investors additional reasons to assess these assets. They provide possible support for interest in the tokens, although they have not been established as the causes of the daily gains.
Stacks gives institutions a route into Bitcoin staking Stacks supports smart contracts and financial applications connected to Bitcoin. In the announcement shared by Stacks, Anchorage Digital said it was building custody support for a service that would let institutions commit BTC for a term and receive rewards in BTC.
NEW: @Anchorage is building support for Bitcoin Staking on Stacks.
Institutions can enroll and fund a BTC Bond directly via their Anchorage account, earn weekly BTC rewards, and reclaim principal at maturity.
BTC stays in custody at a federally chartered bank on Bitcoin L1. pic.twitter.com/AdhMFv311a
— stacks.btc (@Stacks) September 24, 2026
Anchorage’s description says the Bitcoin would remain on its original network under the bank’s custody. The service uses Stacks’ PoX-5 mechanism; it does not change how Bitcoin itself reaches consensus. Participating clients would also commit STX and handle the required registration.
That STX commitment links institutional participation to the token. Wider use could increase demand to hold and commit STX, although participants may already own the tokens they need. The amount of capital entering the programme will therefore matter more than the custody announcement alone.
NEAR’s fund brings exposure into brokerage accounts NEAR also has a new route for investors, through a U.S.-listed fund. Bitwise launched NRR on NYSE Arca on September 29, giving brokerage customers exposure to the smart-contract network’s token without managing a crypto wallet.
The trust also intends to stake NEAR. As explained in Coindoo’s coverage of the fund’s staking feature, earned rewards are intended to add to the assets backing its shares. The amount reaching investors depends on the tokens actually staked, the rewards earned and fund expenses.
For the token market, growth in newly issued fund shares can increase the trust’s NEAR holdings. Buying and selling existing shares between investors does not necessarily do so. Changes in holdings and share creations would show whether the new product is attracting additional exposure; redemptions could work in the opposite direction.
Midnight’s messenger offers an early privacy example Midnight allows applications to verify information while keeping selected data private. A September 29 report from the Midnight Messenger developer described iPhone and Android apps in internal beta. Identity registration used Midnight’s test environment, while encrypted messages stayed outside the blockchain.
The developer also reported sponsored registration, so users would not need tokens to sign up. That illustrates Midnight’s NIGHT/DUST model: NIGHT holdings generate DUST, the resource used to fund transactions. Applications can use that resource to pay users’ costs. This makes the funding model easier to understand, but the messenger remains an early test rather than evidence of substantial commercial demand for NIGHT.
FET’s AI plans sit alongside a recent exploit FET is the token associated with the Artificial Superintelligence Alliance and is used for fees, services and staking in the Fetch.ai ecosystem. The alliance advertised a September 29 discussion about ASI:Chain, its planned blockchain for AI workloads. That communication describes development ambitions rather than a new source of established token usage.
Ethena plans stock-linked trades to diversify income ENA is Ethena’s project token, distinct from its synthetic dollar USDe. On September 25, Ethena announced Binance as the first venue for a proposed strategy combining stock-linked tokens with equity derivatives.
The plan is to hold a stock-linked token and take a short position designed to offset its price movements. Ethena aims to earn income while limiting exposure to the stock’s direction. Coindoo’s explanation of the strategy examines how this could diversify revenue beyond crypto-market funding.
The risk is that the stock-linked token and its hedge can price differently, especially when liquidity is thin or the underlying stock market is closed. Reliable performance could strengthen confidence in Ethena’s business, while losses or difficult exits could weaken it. Any benefit to ENA holders would still depend on how the token captures value from that business.
Softer inflation has not removed the pressure from yields Even successful project developments compete with conditions outside crypto. The September 30 inflation report reduced the urgency for another Fed rate increase, according to Reuters. Annual core PCE inflation was 3.0%, matching July’s revised rate. The report was better than feared, without showing a new annual decline.
A reduced threat of further tightening can encourage investors to hold riskier assets. Yet October 1 bond-market reporting showed that Treasury yields remained elevated. Higher yields raise financing costs and make interest-paying investments more competitive. The dollar’s rise to a more than three-month high adds another concern: dollar strength can accompany tighter funding conditions internationally.
Oil could ease or intensify that pressure. Reuters reported on October 1 that recovering Gulf exports were easing supply concerns. A sustained improvement could reduce future inflation pressure, while renewed disruption linked to the U.S.-Iran conflict could revive it.
The next scheduled U.S. employment report arrives on October 2 at 8:30 a.m. Eastern time. Investors will assess hiring, unemployment and wages together:
Moderate hiring with easing wage growth: This would offer less inflationary pressure without necessarily signalling a sharp economic slowdown. Strong hiring alongside persistent wage pressure: Markets may revive expectations of further tightening, putting upward pressure on yields. A sharp deterioration in employment: Recession concerns could outweigh relief over the interest-rate outlook and weaken demand for speculative assets. The rally’s durability will become clearer when holders take profits. Buyers absorbing that supply through spot purchases would be more encouraging than gains accompanied mainly by growing leverage. If bids hold while yields remain high, it would suggest demand can withstand restrictive financing conditions.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
Muneeb Ali, the co-founder of the Stacks protocol, is becoming CEO of Stacks Labs, the entity responsible for steering core protocol development and ecosystem growth.
A community vote held in July 2026 delivered roughly 99% support for staking upgrades within the Stacks ecosystem.
What Stacks Labs actually is, and why it matters Stacks Labs was formed in 2025 following community approval of SIP-031, a governance proposal that formalized the organization’s role in overseeing protocol development, developer relations, and ecosystem expansion. With around 33 employees operating globally, it is a lean outfit relative to the ambitions it is pursuing.
The core product underlying those ambitions is sBTC, a decentralized asset pegged to Bitcoin that allows BTC holders to participate in DeFi activities without wrapping their coins through a centralized custodian. That framing is exactly what the planned “genesis bond” is designed to demonstrate, a product tied to self-custodial BTC yield that is slated to launch around upcoming network events in 2026.
The protocol itself has been building toward this moment since 2013, when Ali and his co-founders launched the project under the name Blockstack. It rebranded to Stacks in 2020 and runs on a consensus mechanism called Proof of Transfer, or PoX. Rather than competing with Bitcoin’s own security model, PoX anchors Stacks transactions to the Bitcoin chain directly, essentially borrowing Bitcoin’s proof-of-work security to backstop a smart contract layer built on top.
Developers on Stacks write smart contracts in a language called Clarity, designed to be predictable and auditable in ways that Ethereum’s Solidity is not.
Ali’s track record and what he brings to the role Ali holds a Ph.D. in Computer Science from Princeton University and has raised more than $200 million across his various roles and projects over the course of his career. Before focusing on Stacks Labs, he led Trust Machines, a company building applications on top of Bitcoin’s growing software stack.
Prior to Ali’s appointment, Stacks Labs was led by Alex Miller, who oversaw the organization’s formation and early operational structure following the SIP-031 community approval.
What investors and developers should watch The staking upgrade vote and the genesis bond announcement represent two distinct signals worth tracking separately. The vote tells you about internal ecosystem health: near-unanimous community support is rare in crypto governance, where voter apathy and factional disagreement are the norm. A 99% approval figure suggests the Stacks community has coalesced around a shared technical direction, which reduces the governance risk that tends to stall protocol upgrades.
The genesis bond is a different kind of signal. It is a product, not a vote. When it launches, it will provide observable data on whether retail and institutional BTC holders actually want self-custodial yield. Demand for the bond will be a leading indicator of sBTC adoption at scale.
Stacks Labs has 33 employees, a bold 2026 product roadmap, and a market that will eventually compare its Bitcoin DeFi offering against alternatives that will emerge from other ecosystems.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.
Anchorage Digital has announced plans to build support for Bitcoin staking on the Stacks platform, enabling institutional investors to fund Bitcoin bonds and receive weekly BTC rewards. This development is part of a broader initiative to enhance institutional access to Bitcoin-yield products without altering the underlying Bitcoin protocol. The program involves locking BTC on Bitcoin’s Layer 1 and STX on Stacks for a fixed period, allowing participants to maintain custody of their assets while earning BTC-denominated yields. Anchorage’s move is seen as a step towards increasing institutional engagement with Bitcoin through Stacks.
Key Takeaways Anchorage’s support for Bitcoin staking on Stacks suggests growing institutional interest in BTC yield products. The development appears consistent with increased demand for Bitcoin, which could influence market sentiment positively. While supportive of Bitcoin’s price, the move is not viewed as a transformative change to Bitcoin itself. What to Watch Markets will be monitoring how the introduction of Bitcoin staking on Stacks by Anchorage impacts BTC demand and institutional participation. Key indicators include any shifts in Bitcoin’s price ahead of the September 26 price threshold. Potential regulatory developments or changes in macroeconomic conditions could also play a significant role in influencing Bitcoin’s market dynamics.
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Term Structure
Contract Odds Δ since publish Volume 24h September 26 2026 98% — — View market → September 26 2026 1.7% — — View market → September 26 2026 0.8% — — View market → September 26 2026 96% — — View market → September 26 2026 55% — — View market →
Stacks [STX] has reached roughly 13% in the past day at press time, as capital flow across the Perpetual and Spot Market continued to strengthen.
In the Spot market specifically, traders had purchased more STX across multiple crypto venues and moved them into private wallets for holding as the Netflow turned negative.
Negative Netflow suggests overall accumulation, and at press time, that figure had reached roughly -$165,000 in Netflow following a $5.90 million buy.
Source: CoinGlass The accumulation has been building for days. Over the past ten days, the market has seen clear accumulation, with a netflow of -$1.15 million. In the past three days, that figure reached roughly -$1.03 million, according to CoinGlass.
Moreover, continued Spot buying could increase the chances of the STX rally being sustained in the long run. For now, accumulation appears to be the most obvious trend the market could follow.
Perpetual flow sparks STX rally The Perpetual market flow also contributed to the gains, with the Funding Rate and Open Interest (OI) both seeing positive surges that reflected on price. Notably, The Perpetual OI has surged 24%, reaching a high of $38 million at the time of writing.
Source: CoinGlass A surge in capital often links to growing investor confidence, whether in short or long positions. The surge in Funding Rate suggests that investors are bullish on price and are positioning to go long on the asset.
CoinGlass reports that the Funding Rate reached a reading of 0.0101%, a trend it has maintained for days leading up to the rally, which confirms that investors are firmly bullish.
Slim liquidation gap limits conviction The liquidation gap remains minimal in the market, suggesting that the gap between STX long and short positions remains slim.
CoinGlass shows that liquidations among short positions reached $71,000, while long-position liquidations reached roughly $54,000 in the market.
A slim gap between long and short liquidations can often reflect a lack of conviction among traders to go fully long in the market.
Source: CoinGlass What is often seen in a stronger bull market is that investors are likely to accumulate more, while short traders are stop-hunted, forcing them to lose more as the trend favors long traders in the market.
Final Sumamry STX gains 13% as Spot Market accumulation and negative Netflow show increased buying pressure.
Rising Open Interest and Funding Rate support bullish positioning, although the narrow liquidation gap shows limited conviction.
CHICAGO, ILLINOIS - SEPTEMBER 08: Justin Jefferson #18 of the Minnesota Vikings jumps to catch a pass while under pressure during the game against the Chicago Bears at Soldier Field on September 08, 2025 in Chicago, Illinois. (Photo by Patrick McDermott/Getty Images)
Getty Images
It’s Week 2, and well, Week 1 was interesting. Far from being below-average scoring, thanks to a few teams, that narrative was blown out of the water…and note to self…never doubt Ben Johnson again. The Chicago Bears only scored 59 points in their win over the Carolina Panthers. It was the highest-scoring Week 1 game in NFL history. The New Orleans Saints and Detroit Lions played overtime only to have the Lions win on a missed two-point conversion attempt, 31-30, and the Green Bay Packers blew a 21-point lead to lose to the Carson Wentz-led Minnesota Vikings 22-39.
The question is, is this scoring frenzy a trend or an aberration? As we head into Week 2, Vegas would have us believe the latter.
On the main slate, there are three games that meet our scoring threshold: Washington Commanders at Dallas Cowboys,-4.5, 50.5; the Minnesota Vikings at Chicago Bears, -4.5, 47.5; and the New Orleans Saints at Baltimore Ravens, -8.5, 46.5.
Then there are quietly balancing on the could-be, maybe a shootout: Jacksonville Jaguars at Denver Broncos, -2.5, 45.5 (just an aside if anyone saw the Jags and Broncos play last week explain to me how the Broncos are favored in this game); the Niners are predicted to have the highest team total (35.75) this week in what is a 13.5 spread against the Miami Dolphins; and Bryce Young goes into the Mercedes-Benz Stadium on a field and a team he seemingly owns in a game that has the Panthers a 2.5-point favorite and an over/under 43.5.
So let’s get to it.
RecapCHARLOTTE, NORTH CAROLINA - SEPTEMBER 13: Jalen Coker #18 of the Carolina Panthers makes a reception during the game against the Chicago Bears at Bank of America Stadium on September 13, 2026 in Charlotte, North Carolina. (Photo by Jared C. Tilton/Getty Images)
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Last week it was important just to go. The MilliMaker was won with 273.98 points:
QB J. Love, 24.48 points, 1.72% drafted
RB J. Gibbs, 37.60 points, 42.75% drafted
RB D. Henry, 38.30 points, 9.28% drafted
WR C.Watson, 35.70 points, 4.35% drafted
WR D. Moore, 24.00 points, 4.43% drafted
WR J. Cooker, 36.80 points, 7.45% drafted
TE D. Goedert, 23.70 points, 10.08% drafted
Flex D. Swift, 35.40 points, 9.75% drafted
DST Steelers, 18.00 points, 10.86% drafted
Thoughts
Although they correlated QB-WR, there was no bring-back on the Minnesota side. The only other correlation was RB/WR in the Chicago-Carolina game. The rest of the players were one-offs who exceeded their projections and were, for the most part, under 10% drafted.
A cash game single entry (double-up)was won with 226.60 points.
QB T. Shough, 29.20 points, 13.78% drafted
RB J. Gibbs, 37.60 points, 80.99% drafted
RB D. Swift, 35.40 points, 6.44% drafted
WR A. St. Brown, 28.70 points, 39.57% drafted
WR P. Washington, 19.30 points, 4.81% drafted
WR J. Coker, 36.80 points, 2.99% drafted
TE J. Johnson, 14.40 points, 33.14% drafted
Flex L. McConkey, 19.20 points, 9.92% drafted
DST Bears, 6.00 points, 1.18% drafted
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Thoughts
Four players did not exceed their projection/cost point: Washington, Johnson, McConkey, and the Bears. Utilization of the game environment was more evident: QB-WR-TE/RB-WR in the Saints/Lions game, which was the second-highest total game. And the RB/WR in the highest-scoring game on the slate.
Best StacksFor the best sacks, we are seeking out the best game environment. If one team pushes, can another team follow? Or do we have a team that will keep pushing even if they get ahead?
QB D.Prescott $6400 + RB J. Williams $6400+ WR C. Lamb $7300 +WR R. Flournoy $3800/ WR S. Diggs $5300
This lineup leaves you with $5200 for the three (3) remaining positions.
ARLINGTON, TEXAS - SEPTEMBER 28: Dak Prescott #4 of the Dallas Cowboys congratulates Javonte Williams #33 of the Dallas Cowboys after Williams scored a touchdown against the Green Bay Packers during the fourth quarter in the game at AT&T Stadium on September 28, 2025 in Arlington, Texas. (Photo by Stacy Revere/Getty Images)
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Washington’s defense pressured Jalen Hurts on 9.4% of his dropbacks last week. It resulted in 18 pressures and three sacks. And while they held Saquon Barkley to 83 yards, half of those yards (42) were on one run. That is one of the five explosive plays the Commanders’ defense allowed, including a 64-yard catch by Dontayvion Wicks.
Last season, the Cowboys’ defense gave up the most rushing touchdowns to quarterbacks. Their issues with mobile quarterbacks continued in Week1 as Jaxon Dart averaged 4.9 yards per carry, gathering 54 yards on 11 attempts.
The Cowboys’ 44.4% blitz rate resulted in 11 pressures and two sacks.
QB C. Wentz $4600 + WR J. Jefferson $7800 + WR J. Addison $5100/ WR L. Burden $5700 + TE C. Loveland $5000
MINNEAPOLIS, MN. - SEPTEMBER 2025: Minnesota Vikings quarterback Carson Wentz (11) looks to throw to Vikings wide receiver Justin Jefferson (18) for a first down during the first quarter as the Vikings take on the Bengals at US Bank Stadium in Minneapolis, Minn. on Sunday, September 21, 2025. (Photo by Elizabeth Flores/The Minnesota Star Tribune via Getty Images)
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This lineup leaves you $5450 for the remaining four positions.
This game has the widest possible outcome. Ben Johnson has had good outings against Brian Flores’ defenses. If that happens this week, the Vikings will be pushed to match the offensive outings.
The Chicago Bears defense: In Week 1 collected 16 QB hurries, 22 pressures, two sacks, and an interception. They also allowed Bryce Young to throw for 361 passing yards with three passing touchdowns and one rushing touchdown. Their EPA allowed per play of +0.18 ranks 26th for the week.
Caleb Williams in 2025 faced Brian Flores’ defense in Weeks 1 and 11. In Week 1, he faced 16 pressures on a 37.2% blitz rate. Williams went 21-of-35, 210 yards, 1 touchdown, and zero interceptions. In Week 11, he was blitzed 66.7% with 14 pressures. Williams finished 21-of-29, 269 yards, two passing touchdowns, and two rushing touchdowns.
QB T. Lawrence $5800 + RB B.Tuten $5800/ WR J. Waddle $6500
This mini stack allows you to double up on other games.
DENVER, CO - DECEMBER 21: Trevor Lawrence #16 of the Jacksonville Jaguars runs with the football past D.J. Jones #93 of the Denver Broncos during the first quarter at Empower Field at Mile High on December 21, 2025 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)
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You have $5350 for the remaining six positions.
It’s early, but after Week 1, the Jaguars looked impressive, and the Broncos looked lost. The Broncos’ defense had 28 missed tackles. They allowed Kenneth Walker to average 7.5 yards per carry while amassing 173 yards, including a 60-yard touchdown run.
The Jaguars’ defense pressured Deshaun Watson 44.8% (fourth-most for the week), collected five sacks, one interception, and one forced fumble.
One-Offs or ContrarianThese lineup suggestions do not depend on the game environment but instead focus on high-ceiling potential.
QB B. Young $5400 + WR T. McMillan $6100
ATLANTA, GEORGIA - NOVEMBER 16: Bryce Young #9 of the Carolina Panthers interacts with Atlanta Falcons running back Bijan Robinson (7) after the NFL 2025 game between Carolina Panthers and Atlanta Falcons at Mercedes-Benz Stadium on November 16, 2025 in Atlanta, Georgia. (Photo by Kara Durrette/Getty Images)
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This leaves you with $5500 for the remaining seven positions.
Young has consistently played well in Mercedes-Benz Stadium and seemingly owns the Atlanta Falcons. The only question is, who is he bringing with him?
For his career, he is 4-1 against the Falcons. In the game in Atlanta last year, he was 31-of-45, 448 yards, with three passing touchdowns and zero interceptions. For his career against the Falcons, he has averaged 226.6 passing yards with seven touchdowns and two interceptions.
QB G.Smith $4800 + RB B. Hall $6200/ WR C. Watson $6200
EAST RUTHERFORD, NJ - SEPTEMBER 22: Quarterback Geno Smith #7 of the New York Jets looks to pass against the Buffalo Bills during the fourthd quarter in a game at MetLife Stadium on September 22, 2013 in East Rutherford, New Jersey. The Jets defeated the Bills 27-20. (Photo by Rich Schultz /Getty Images)
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This lineup leaves you with $5467 for the remaining five positions.
Jets played 13 personnel (three tight ends) 17.5% of the time last week ( 5th most) and ran 72.7% of the time out of this formation (ninth-highest rate).
The Jets’ defense had the third-highest blitz rate (46.2%), a pressure rate of 38.5%, and finished with five quarterback hits and three sacks.
Jordan Love has a 53.8% completion rate when pressured and a 51.5% completion percentage when blitzed.
QB J. Herbert $6000 + WR Q. Johnston $5000 + WR T. Harris $4000/ RB A. Genty $6800 +WR T. Tucker $4500
This lineup leaves you $5925 for the remaining four positions.
LAS VEGAS, NEVADA - SEPTEMBER 15: Justin Herbert #10 of the Los Angeles Chargers throws a pass against the Las Vegas Raiders during the second quarter at Allegiant Stadium on September 15, 2025 in Las Vegas, Nevada. (Photo by Sean M. Haffey/Getty Images)
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Check the status of Ladd McConkey before finalizing any lineup with the Chargers.
DraftKings Main SlateRemember to keep an eye out for last-minute injuries, and it’s fall, so weather starts to become a factor.
Stacks just gave institutions something they’ve been quietly asking for: a way to earn yield on Bitcoin without handing over their keys. The network’s Genesis Bond went live on September 10, aligned with Bitcoin block 966,350, and four institutional participants collectively locked approximately 250 BTC into the program.
The participants, 21Shares, HashKey Cloud, UTXO Management, and Sypher Capital, are staking Bitcoin through a six-month bonding period that targets roughly 3% APY, paid out weekly in BTC. That yield doesn’t come from lending or rehypothecation. It comes from Stacks miners through the network’s Proof-of-Transfer mechanism.
How the Genesis Bond actually works Participants lock their BTC directly on Bitcoin Layer 1 using a timelock script. The coins never leave the base chain.
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Alongside that locked BTC, participants hold a position in STX, the native Stacks token, worth approximately 5% of their Bitcoin position’s value. This STX is held on the Stacks network. The combination of locked BTC on Layer 1 and STX on Stacks creates what the protocol calls a “protocol bond.”
Yields flow from Stacks miners who commit BTC as part of the Proof-of-Transfer (PoX) consensus mechanism. Miners on Stacks essentially pay Bitcoin to mine STX blocks, and that Bitcoin gets redistributed to stackers. Since PoX launched in January 2021, the mechanism has distributed over 4,200 BTC to participants, valued at more than $500 million at historical prices.
At the end of the six-month term, participants recover full custody of their locked Bitcoin. No bridges, no wrapped tokens, no third-party custodians sitting between the institution and its BTC.
Sypher Capital participated through a slightly different route, using StackingDAO’s pooled staking infrastructure. The other three institutions bonded directly.
The road to institutional stacking UTXO Management became the first institutional participant in Stacks stacking back on May 28, serving as a proof of concept for the broader Genesis Bond. Earlier in 2026, Stacks integrated Fireblocks custody support. The biggest technical prerequisite was the PoX-5 hard fork, which activated around July 29-30. That upgrade enabled the specific bonding and yield distribution mechanisms the Genesis Bond relies on.
Why 3% on Bitcoin matters more than it sounds The 5% STX requirement introduces exposure to a second asset. If STX drops significantly during the bonding period, the effective return measured in dollar terms could be diminished even if the BTC yield arrives as promised.
A second bonding period is planned for early October 2026 with expanded capacity. The longer-term roadmap points toward a permissionless model where any institution, and eventually any holder, could participate without needing to be part of a curated cohort.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Zest Protocol’s new levered Bitcoin staking vault is now live on Stacks. The zvstBTC vault, the protocol’s first automated Stacks Vault product, marks a notable step in the slow but steady effort to make Bitcoin actually productive in DeFi.
The concept is straightforward in theory, even if the plumbing underneath is anything but. Users deposit Bitcoin assets like stBTC or BTC into the vault and receive zvstBTC shares in return. The vault then runs a leveraged loop: posting stBTC as collateral in Zest’s lending market, borrowing sBTC against it, and recycling those borrowed assets back into staking positions to amplify the base yield.
How the yield math works The unlevered staking rate for stBTC, the liquid staking token issued by Stacking DAO, sits at roughly 2.6% APY. Zest’s vault aims to stretch that to 6-8% APY through its looping strategy.
The gains don’t arrive as separate token distributions. Instead, they accrue directly into the vault’s net asset value, meaning the price of each zvstBTC share gradually increases over time.
Initial deposits are capped at 10 BTC. That’s a deliberate constraint, not a limitation born of low demand. Capping early capacity lets the protocol stress-test the strategy with manageable risk before opening the floodgates.
Zest’s track record and the trust question Zest Protocol’s Stacks lending market has maintained a peak total value locked of over $100 million. More importantly, it has reported zero bad debt since launching in March 2024. The vault’s architecture relies on two key assets within the Stacks ecosystem: stBTC, issued by Stacking DAO, provides the base staking yield and serves as the primary collateral, while sBTC functions as the borrowable asset that enables the leverage loop.
What this means for Bitcoin DeFi A 6-8% target APY on Bitcoin is competitive with many Ethereum-based staking products. The Stacks network settles directly to Bitcoin’s base layer, which matters for the subset of investors who care deeply about where their trust assumptions actually live.
Zest has also introduced STX token incentives to encourage broader participation in the vault ecosystem.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Zest Protocol is putting real money on the table to juice activity on its Stacks lending market. The platform just launched a rewards program that will distribute the equivalent of 0.5 BTC per month, roughly $116K at current prices, in STX tokens to users who supply sBTC or borrow USDCx.
The program, which kicked off on September 10, runs for 90 days through December 10, 2026, with a total pot of 3 BTC spread across participants.
How the rewards actually work The monthly STX rewards are split evenly between two groups: sBTC suppliers and USDCx borrowers. To earn a share, USDCx borrowers need to maintain a minimum 20% time-weighted loan-to-value ratio throughout the period.
On the supply side, sBTC depositors don’t even need to enroll. Their participation is tracked automatically through daily pro-rata snapshots taken on-chain, meaning rewards scale proportionally with how much you deposit and for how long.
For sBTC suppliers specifically, the incentives translate to an additional 0.6% APY layered on top of whatever organic borrow interest they’re already earning, paid in STX and verified through transparent on-chain data.
Zest’s track record and the bigger picture Zest Protocol has been operating on the Stacks blockchain since its launch in March 2024. In that time, the platform hit a peak total value locked north of $100 million, and notably hasn’t reported any bad debt.
The platform’s Stacks Market V2 includes pair-specific risk parameters, which means each collateral-debt combination gets its own risk profile, and partial liquidations, a mechanism that lets the protocol sell only enough collateral to bring a position back to health. Supported assets on the platform include sBTC, STX, stSTX, and USDCx.
The incentive program is part of a broader initiative called the Stack Sats program, which Stacks itself is backing to drive DeFi engagement across its ecosystem.
What this means for Stacks DeFi Zest Protocol is positioning itself ahead of upcoming product releases, including leveraged Bitcoin staking vaults. By building liquidity and user engagement now, the protocol is essentially pre-loading its balance sheet before new features go live.
Rewards based on verifiable on-chain snapshots remove the trust assumptions that plague centralized reward programs. Users can independently verify that distributions match their participation.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Zest Protocol users will receive STX equivalent to 0.5 BTC per month in DeFi incentives, powered by the Stacks Endowment. The current plan divides that funding equally between sBTC supply and qualifying USDCx borrowing on Zest Protocol's Stacks lending market.
For sBTC suppliers, the proposed rewards support supplying without taking out a loan. For USDCx borrowers, the allocation rewards borrowing positions that meet the program's LTV requirement.
Key takeaways:
Monthly funding will be paid in STX, with a budget equivalent to 0.5 BTC.Half is planned for plain sBTC supply, with no borrowing required.Half is planned for qualifying USDCx borrowing at 20% LTV or more.Supply incentives aim to facilitate future Levered Bitcoin Staking Vault borrowing.How the DeFi incentives will be allocatedThe current plan directs equal shares of the Stacks Endowment funding to two activities: supplying sBTC and borrowing USDCx. The supply allocation supports keeping sBTC available in the lending market. The borrowing allocation supports users taking out eligible USDCx loans against their collateral.
The split is:
sBTC supply: Half of the monthly funding goes to users supplying plain sBTC, without needing to borrow.USDCx borrowing: Half of the monthly funding goes to borrowers meeting 20% LTV.
Both allocations concern Zest Protocol's Stacks lending market. The funding is denominated in BTC value but distributed in STX, rather than paid out as BTC.
What sBTC suppliers will earnThe sBTC supply estimate is approximately 0.6% APY, combining interest from organic sBTC borrowing activity with STX incentives. Suppliers can participate without taking out a loan or entering a vault. Over the coming months, organic lending interest will likely account for more of that yield as Bitcoin Staking-driven borrowing grows. The incentives support sBTC supply while borrowing demand develops.
Bitcoin Staking helps build a base rate for sBTC on StacksBTC supply offers remarkably little yield elsewhere. Today, Aave's Ethereum V3 Core market displayed a WBTC supply APY below 0.01%, less than one basis point. A 0.6% sBTC supply APY combines organic borrowing interest with incentives, while Bitcoin Staking provides a source of borrowing demand that can support yield beyond the incentive period.
Zest Protocol's Stacks Market is building a base rate for sBTC around that demand. The Levered Bitcoin Staking Vault posts stBTC as collateral, borrows sBTC, and stakes the borrowed sBTC into more stBTC. The process repeats within the strategy's risk limits, connecting Bitcoin Staking yield to demand for sBTC loans.
That gives Stacks a route to a durable advantage in Bitcoin DeFi. Higher sBTC supply yields attracts more BTC liquidity and a base rate for sBTC backed loans. Bitcoin Staking creates the economic reason for that capital to come and stay: yield that can increasingly be supported by borrowing demand.
Which USDCx borrowers will qualify?The other half of the monthly allocation is planned for USDCx borrowers who meet an LTV eligibility requirement. LTV describes the value of a loan relative to its collateral. Eligibility requires LTV above 20%. The proposed rewards apply to borrowing USDCx.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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HashKey Cloud said on Sept. 7 that it had joined Stacks as a launch partner for self-custodial Bitcoin staking.
Summary
HashKey Cloud joined Stacks as a Genesis Bond participant and an sBTC signer operator officially. The institutional Genesis Bond is scheduled to launch around September 10, according to Stacks developers. Bonded Bitcoin remains timelocked on Bitcoin while participants pair it with locked STX tokens separately. HashKey Cloud says its staking infrastructure spans more than 40 different blockchain networks globally today. sBTC signers coordinate Bitcoin deposits and withdrawals using a threshold-based approval system collectively onchain today. The agreement gives the infrastructure provider two roles: participating in the inaugural Genesis Bond and joining the signer network securing sBTC.
HashKey Cloud operates under HashKey Holding Limited. Stacks founder Muneeb Ali presented the collaboration during the HashKey Cloud and Cactus Custody “Yield on Trust” event in Hong Kong.
The company says its node and staking infrastructure covers more than 40 blockchain networks. Stacks reported that HashKey Cloud manages about HK$29 billion in staked assets. These figures come from the companies and were not independently audited for the partnership announcement.
HashKey Cloud will participate in the first Genesis Bond HashKey Cloud will join the first institutional cohort using Stacks’ new Protocol Bond system. Stacks said in an official announcement that the Genesis Bond was expected to begin around Sept. 10.
The launch date remains an estimate. Stacks has not announced an exact activation time, final capacity or participant allocations. Technical or operational conditions could also alter the schedule.
The first cohort includes institutional participants such as digital asset manager 21Shares and UTXO Management, a subsidiary of Bitcoin treasury company Nakamoto Inc. The Genesis Bond is intended to demonstrate how institutions can earn BTC-denominated rewards without transferring their Bitcoin to a centralized custodian.
Bitcoin committed to the product remains visible on its base blockchain. The arrangement should allow observers to inspect the relevant timelock transactions without relying exclusively on reports from Stacks or participating institutions.
The phrase “Bitcoin staking” requires context. Bitcoin uses proof-of-work and does not support staking through its native consensus system. The Genesis Bond does not change Bitcoin’s consensus rules.
Stacks instead uses Proof of Transfer, commonly called PoX. Stacks miners commit BTC while competing to produce blocks. The protocol distributes part of that Bitcoin to qualifying participants as rewards.
Bitcoin remains under the holder’s keys Stacks’ PoX-5 design introduces a Protocol Bond that connects two separate commitments. The participant timelocks BTC on Bitcoin’s base layer and locks a corresponding amount of STX on Stacks.
According to the project’s technical documentation, a bond lasts 12 Stacks reward cycles, or approximately six months. The Bitcoin remains in a wallet controlled by the holder’s keys rather than moving to a centralized custodian or wrapped asset.
The participant must also lock STX through a signer-manager contract. The two positions are cryptographically associated and operate together for the bond term.
PoX-5 permits only one active staking position for each Stacks principal. A participant cannot use the same principal for an STX-only position and a Protocol Bond simultaneously. The protocol also prevents one principal from holding two concurrent bonds.
The documentation allows early withdrawal. However, participants leaving before the scheduled end of a term forfeit their remaining rewards for that cycle. Recovering the BTC principal still requires the holder’s signature.
Rewards initially accrue as sBTC. A participant may request native BTC by supplying a Bitcoin payout address, provided the selected signer manager supports base-layer withdrawals.
Native BTC settlement is not available under every configuration. If the withdrawal cannot be processed within the participant’s maximum transaction-fee setting, the payment falls back to sBTC.
As crypto.news reported, Stacks is targeting an annualized Bitcoin yield near 3% during the initial phase. The rate is a protocol target, not a guaranteed return. Actual rewards may vary with miner commitments, available capacity and network conditions.
HashKey Cloud will help secure sBTC transfers HashKey Cloud will also operate as a signer for sBTC, the Bitcoin-backed asset used within the Stacks ecosystem. Stacks previously confirmed that HashKey Cloud, Ankr and The Tie had joined the signer set.
sBTC is designed to represent BTC on Stacks at a one-to-one ratio. Users can deploy it within Stacks applications while the underlying Bitcoin remains governed by the network’s signer system.
Signers collectively authorize deposits and withdrawals between Bitcoin and Stacks. No individual signer can independently move the BTC backing sBTC.
Stacks said the system maintained a 70% approval threshold throughout the latest signer rotation. Operations such as withdrawals require approval representing at least 70% of participating signer weight.
Adding HashKey Cloud brings an Asia-based infrastructure provider into the signer group. Stacks described the expansion as improving institutional access and distributing operating responsibility across additional companies and regions.
Those benefits remain Stacks’ assessment. A larger signer set does not remove every technical or governance risk associated with sBTC.
Users still depend on enough signers remaining available and following the protocol correctly. Software failures, signer outages or coordination problems could delay deposits and withdrawals. Smart-contract faults could also affect services built around sBTC.
Self-custody reduces exposure to a single custodian, but it does not eliminate risks arising from Stacks contracts, wallet software, signer managers or the sBTC system.
Genesis Bond access will remain limited initially Stacks plans to introduce Protocol Bonds in stages. Initial Genesis Bond access focuses on institutions and professional market participants rather than unrestricted retail participation.
The project’s staking guidance says bond capacity will be allocated to approved partners during the bootstrap phase. Some capacity may become available through selected pooling providers.
Wallet compatibility is another requirement. Leather and Xverse support PoX-5 functions, while Ledger users need Stacks application version 0.26.15 or later for transactions carrying the new spending conditions.
Participants must also consider the prepare phase at the end of each reward cycle. During the final 100 Bitcoin blocks, the protocol rejects new staking transactions, position updates and withdrawal requests.
HashKey Cloud has not disclosed how much BTC or STX it plans to commit. The company also has not published participation fees, customer eligibility requirements or a list of supported jurisdictions.
Its announcement cautioned that Bitcoin staking services may be unavailable in some regions because of local laws. HashKey Cloud did not guarantee any investment return.
The Genesis Bond’s expected launch is the next event to watch. Confirmation of the activation time, committed Bitcoin, participating institutions and available capacity would provide the first measurable evidence of demand for the product.
Xverse launched Bitcoin staking through sBTC on Stacks on Sept. 7, making the feature available in version 2.9 of its self-custodial wallet. In its official launch announcement, Xverse said users can put existing bitcoin to work and receive additional bitcoin through the fee-efficient sBTC representation on Stacks.
The product does not lock native BTC directly on the Bitcoin base layer. Xverse’s technical overview says participants use sBTC, which is backed one-for-one by bitcoin held through the Stacks signer system, and pair it with STX. That structure introduces different risks from simply holding BTC in a wallet.
Staking pairs sBTC with a smaller STX position A position combines sBTC with STX worth roughly 5% of the deposited sBTC, according to Xverse. The STX is neither a fee nor collateral; it establishes eligibility and links the position to a Stacks identity. The bitcoin-denominated rewards accrue to the sBTC side rather than the STX balance.
Xverse said users can obtain an STX shortfall inside the staking flow. Each participant receives one position per bond and may add sBTC or STX before the bond begins. Once it is active, the position remains fixed unless the user withdraws the sBTC or waits for maturity.
Rewards target about 3% but can vary The protocol targets an annual percentage yield of roughly 3%, with distributions arriving in sBTC about once every two weeks. The realized return depends on the bitcoin committed by Stacks miners and the amount deposited alongside it, so the target is not a guaranteed rate.
Each bond runs for six months. Before registration, users can withdraw both assets. After a bond starts, sBTC can be removed early, but the paired STX remains locked until maturity. Xverse also warns that the staking contracts are new and that sBTC depends on its signer set and continued peg to bitcoin.
The launch opens retail access to the Genesis Bond Xverse’s rollout gives wallet users pooled access to the Stacks Genesis Bond without meeting a large standalone minimum. BlockchainReporter previously reported that 21Shares joined the same Bitcoin staking program as an institutional participant. The two developments involve different access channels: 21Shares supplied capital to the bond, while Xverse now offers a wallet interface for individual positions.
The Genesis Bond is scheduled to begin near Bitcoin block 966,350, which Xverse estimated around Sept. 10 in Stacks reward cycle 143. The precise timing remains block-dependent. Later bonds are expected to open roughly monthly, but available capacity and deposit windows may close before a scheduled start.
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Bitcoin has become one of the world’s largest pools of digital capital, yet only a small fraction participates in onchain financial activity.
Summary
Stacks plans to use self-custodial Bitcoin Staking as an entry point for BTC holders, targeting roughly 3% annualized rewards paid in Bitcoin. Its roadmap moves from attracting Bitcoin capital to scaling network infrastructure and expanding into lending, trading, perpetual markets and programmable BTC. StackingDAO, Bitflow, Zest Protocol and Hermetica are developing liquid staking, trading, credit and yield products that could give staked and Bitcoin-linked capital more uses across the ecosystem. Other crypto ecosystems built large economies around staking, lending and decentralized trading. Bitcoin, by comparison, still lacks a universally accepted home where holders can put BTC to work without taking on custody, bridge or foreign-chain risks.
That is the problem Bitcoin-native finance is trying to solve.
The term describes a financial system built around Bitcoin as the productive asset, with services such as staking, lending, borrowing and trading anchored to Bitcoin rather than requiring holders to move their wealth into another blockchain economy. Stacks is pursuing that model through a 2026 roadmap built around three connected stages: attract Bitcoin capital with self-custodial yield, scale the infrastructure needed to support greater activity, then expand the financial applications available to that capital.
The official roadmap is currently presented as a 2026 plan rather than a formal roadmap extending through 2030. Its direction, however, describes a longer-term effort to build lending, trading, programmable capital and other financial services around Bitcoin. The central question for the coming years is whether Stacks can turn that roadmap into the ecosystem where BTC holders move from passive ownership to active financial use.
Bitcoin Staking could become the entry point for idle BTC Many Bitcoin projects have tried to make BTC productive, but each approach introduces different trade-offs.
Core already offers self-custodial Bitcoin staking using Bitcoin’s CheckLockTimeVerify timelocks, but rewards are paid in CORE. Babylon also keeps staked BTC native to Bitcoin, but its security model includes slashing, meaning delegated BTC can face penalties if protocol security conditions are violated.
Stacks is proposing a different combination. Under its Bitcoin Staking design, participants create a protocol bond by locking BTC on Bitcoin Layer 1 and pairing it with STX worth approximately 5% of the BTC position. The BTC remains under the participant’s keys, while the paired STX secures access to staking capacity. The current target yield is approximately 3% annualized and paid in Bitcoin.
The source of that yield is Proof of Transfer, or PoX, the consensus mechanism Stacks has operated since January 2021. Stacks miners commit BTC as they compete to produce blocks and receive STX rewards. The BTC committed by miners then flows to eligible participants. Stacks says the mechanism has distributed more than 4,200 BTC since launch.
That gives the planned product an economic structure different from staking systems funded entirely through new token issuance. The reward pool comes from BTC spent by miners as part of Stacks block production rather than from creating a new reward token or lending participants’ Bitcoin to borrowers.
The product is not yet established at scale. As of July 16, 2026, PoX-5 was operating on a private testnet with integration partners testing bonding, reward distribution and exits ahead of a public testnet and potential mainnet activation. Mainnet still depends on the Stacks governance process and successful testing.
That distinction matters. Bitcoin Staking could become the top of the Stacks capital funnel, but the thesis remains dependent on execution.
The roadmap moves from capital to infrastructure and finance Attracting BTC is only the first step. A Bitcoin-native financial system also needs enough performance, liquidity and application depth to give holders reasons to keep using their capital after earning an initial yield.
The Stacks roadmap organizes that process into three phases. Bitcoin Staking anchors capital. Infrastructure improvements prepare the network for greater DeFi and automated activity. The final phase expands Bitcoin-native finance across lending, trading and programmable capital. The workstreams are progressing concurrently rather than waiting for each previous phase to finish.
On performance, Stacks core developers are targeting a 100-fold improvement in throughput through efforts including Clarity Wasm. The roadmap also calls for continued core improvements and optimization of the sBTC bridge. Stacks has separately set a goal of supporting up to 10,000 active AI agents as programmable financial activity grows.
The longer-term financial layer includes self-custodial Bitcoin lending, trading, perpetual markets and programmable BTC that software agents can use. The roadmap also explores allowing sBTC to pay transaction fees, which could reduce the need for users or automated agents to acquire a separate gas asset before interacting with applications.
For institutions and large Bitcoin holders, that combination matters because yield alone may not justify moving substantial capital into a new financial environment.
StackingDAO, Bitflow, Zest and Hermetica build the next layer The wider Stacks ecosystem is already assembling several of the financial primitives needed to move BTC beyond a single staking product.
StackingDAO provides the liquid staking layer. It currently operates liquid Stacking products for STX and has outlined plans for a Bitcoin liquid staking token as Bitcoin Staking develops. A BTC liquid staking token, or BTC LST, would represent an underlying yield-producing Bitcoin position while remaining usable elsewhere in DeFi.
The role is comparable in structure to the function liquid staking tokens serve in Ethereum’s DeFi economy. Without a liquid representation, staked capital remains harder to use elsewhere. With one, the same economic position can potentially provide liquidity, serve as collateral or participate in additional financial strategies.
Bitflow supplies another necessary piece: markets where Bitcoin-linked assets can trade and find liquidity.
The protocol operates a decentralized exchange and aggregator on Stacks and has introduced HODLMM, a concentrated-liquidity engine designed for more capital-efficient markets. A future BTC LST would need liquid trading venues to maintain an effective market and provide holders with practical entry and exit routes.
Zest Protocol adds credit markets. Its existing Stacks market allows users to lend Bitcoin-linked assets and borrow against collateral, while its planned Bitcoin Collateral Vaults aim to let users borrow stablecoins against BTC without moving their Bitcoin off Layer 1. Zest says those vaults are scheduled to launch in 2026 and are designed around self-custodial Bitcoin collateral rather than a conventional wrapped-BTC structure.
Hermetica provides yield products and a Bitcoin-linked monetary layer through hBTC and USDh. The hBTC vault deploys BTC exposure into onchain strategies including lending, staking and basis strategies, with realized profits accounted for in Bitcoin terms. Hermetica describes the product as redeemable for native BTC, while its current documentation shows that withdrawals remain subject to protocol cooldowns and Bitcoin settlement times.
Its USDh product provides a Bitcoin-backed synthetic dollar that can serve as a stable asset within the same financial environment. Hermetica’s hBTC documentation describes a strategy that can use BTC-linked collateral in lending markets and deploy borrowed stablecoins into additional yield opportunities, connecting Bitcoin collateral, credit and stable liquidity within one system.
Together, these protocols illustrate what comes after Bitcoin Staking.
From Bitcoin yield to a Bitcoin-native financial economy Ethereum and Solana showed how staking can become more than a standalone yield product. Once users begin earning on an asset, demand can develop for liquid staking, collateral markets, decentralized exchanges and structured strategies that make the staked capital more useful.
Stacks is attempting to build a similar progression around Bitcoin without simply copying another chain’s security and custody model.
Its strategy starts with a product designed to keep BTC on Bitcoin L1 while generating BTC-denominated rewards. The roadmap then connects that capital to faster infrastructure and an ecosystem spanning liquid staking, trading, credit and yield products.
Bitcoin-native finance will not be defined by one staking product. It will be defined by whether Bitcoin can function as productive capital across staking, lending, liquidity and programmable applications without forcing holders to abandon the properties that made them choose Bitcoin in the first place.
Stacks is building toward that outcome. Bitcoin Staking is intended to open the door. The ecosystem developing behind it will determine how far the capital travels once it enters.
FAQ How is Stacks Bitcoin Staking different from other self-custodial options? Stacks’ proposed design combines three features: rewards denominated in BTC, no protocol-level slashing of Bitcoin principal and an early exit mechanism that returns BTC while forfeiting remaining rewards. Core also offers self-custodial staking but pays rewards in CORE, while Babylon’s security model includes BTC slashing. Stacks Bitcoin Staking remains in testing and has not yet established a mainnet operating record.
What is Bitcoin-native finance? Bitcoin-native finance is a financial ecosystem where Bitcoin serves as the productive asset across activities such as staking, lending, borrowing, trading and structured strategies, with infrastructure anchored to Bitcoin rather than requiring holders to move entirely into another blockchain economy.
How does Bitcoin Staking on Stacks work? The current design requires participants to lock BTC on Bitcoin L1 and pair it with STX worth approximately 5% of the BTC position. The two assets form a protocol bond. BTC committed by Stacks miners through Proof of Transfer funds Bitcoin-denominated rewards, with a current target of approximately 3% annualized yield during the planned bootstrap phase.
What is a Bitcoin liquid staking token? A Bitcoin liquid staking token represents an underlying staked or yield-producing BTC position while remaining transferable and potentially usable in DeFi. It can allow holders to maintain exposure to staking rewards while using the liquid token for trading, liquidity or collateral. StackingDAO has outlined plans to develop a BTC LST as Bitcoin Staking on Stacks develops.
21Shares, the digital asset manager behind the world’s largest suite of cryptocurrency exchange-traded products, is joining the Stacks Genesis Bond, the inaugural institutional cohort for Bitcoin Staking on Stacks. The firm’s announcement on September 3 said it will stake its own Bitcoin treasury holdings through the bond ahead of its September 10 launch.
An Institutional Test for Bitcoin Staking The Genesis Bond is designed to demonstrate Bitcoin Staking end-to-end with institutional participants and infrastructure providers before the mechanism opens more broadly. 21Shares oversees more than $6.5 billion in assets under management across more than 60 crypto ETPs globally, and its participation links Bitcoin-native yield to the traditional investment ecosystem.
By committing its treasury, the manager is not simply observing the rollout. It will participate directly in Bitcoin Staking on Stacks, a move that frames the bond as a working proof for how institutions can put idle Bitcoin to use while retaining control of the underlying asset.
How the Genesis Bond Works Bitcoin Staking lets holders earn rewards paid in Bitcoin while their Bitcoin remains on the Bitcoin blockchain. In the bond structure, participating Bitcoin is locked for a fixed term with an early exit option, and the full amount is returned when the term ends. Holders do not need to move their Bitcoin to another network or hand it to a third party to earn rewards.
The first Stacks Genesis Bond bonding period is expected to begin in October, following the September 10 launch of the bond itself. Until then the program remains a demonstration for institutions and professional investors rather than a broadly available product, and the mechanics are being tested in a controlled setting before wider rollout.
Productive Bitcoin Gains Institutional Traction Interest in productive Bitcoin has been building across the Stacks ecosystem, with liquid staking providers such as Stacking DAO preparing stBTC for the same upcoming release. 21Shares’ participation adds a large, regulated asset manager to that institutional push.
The company did not disclose the size of the Bitcoin stake it will commit or the yield it expects. Those details, along with the full roster of the Genesis cohort, remain to be confirmed as the launch approaches.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
Forget vibes-based investing as a joke. The Stacks ecosystem just made it a product.
The Stacks Vibe Index went live in early September 2026, offering a real-time sentiment dashboard that pulls data from roughly a dozen community channels across Discord, Telegram, and X. Built by Vibewatch, a community intelligence platform, the tool distills all that chatter into a single score designed to tell you whether the Stacks community is feeling optimistic, anxious, or somewhere in between.
The dashboard is accessible at stacks.vibewatch.io and already features data from several prominent Stacks projects, including Bitflow, StackingDAO, HermeticaFi, and ZestProtocol.
How it works and who’s behind it Vibewatch was founded by Brandon Marshall and funded through a $10,000 grant from the Stacks Endowment, announced back in July 2026.
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The platform aggregates text-based sentiment from multiple community hubs, then processes it into a composite score alongside thematic highlights.
Beyond the live dashboard, Vibewatch publishes weekly in-depth sentiment reports. The first edition dropped on August 24, 2026, breaking down the top themes and most influential voices across participating communities.
The tool also supports API and MCP access through the x402stacks endpoint, which means AI agents can query the sentiment data programmatically.
Why sentiment tools matter for layer-2 ecosystems Traditional market sentiment indices in crypto tend to focus on Bitcoin or Ethereum, pulling from broad social media mentions and trading volume. They’re useful for macro reads but nearly useless for understanding what’s happening inside a specific ecosystem.
The timing is notable too. Stacks has been navigating several significant developments in 2026, including the PoX-5 rollout and broader Bitcoin staking initiatives.
The bigger picture for community-driven analytics Vibewatch plans to extend free subscriptions to Stacks ecosystem partners, effectively embedding its sentiment data into the operational toolkit of projects building on the network.
For investors watching the Stacks ecosystem specifically, the Vibe Index adds a new data point to the due diligence process. Rather than relying solely on TVL figures, transaction counts, or token price action, stakeholders can now cross-reference those hard metrics against the qualitative temperature of the community.
For the Stacks ecosystem, which reported growth metrics in Q2 2026 that suggested expanding developer and user activity, having a dedicated sentiment layer is a maturity signal.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
In brief OpenClaw shipped version 2026.8.1, branded OpenClaw 2.0, built by 933 contributors including 569 first-timers. The update rebuilds the browser app, adds shared multiplayer cloud sessions, moves session storage and implements features clearly aimed at enterprise buyers. It lands as Nous Research's Hermes Agent keeps stealing users frustrated with OpenClaw's setup headaches. OpenClaw shipped its biggest update ever over the weekend. The team calls it OpenClaw 2.0. They also called it "accidental," which, fine, we'll get to that.
The release notes touch installation, messaging, memory, skills, models, automations, the browser, native apps, plugins, and security—basically everything a user should know.
Myriad: When will OpenAI release GPT-6? Click to make your prediction.Per the announcement post, 933 contributors, 569 of them first-timers, contributed to the project with more than 16,000 pull requests. That's roughly half of every PR OpenClaw has ever merged, shipped in a single release.
What OpenClaw actually is, for the uninitiatedOpenClaw is a self-hosted, open-source framework that turns an LLM into an agent that doesn't go away when you close the tab. It lives on your machine, wakes up on its own schedule, and talks to you over WhatsApp, Telegram, Discord, or Signal instead of waiting politely in a chat window. Give it permission and it'll touch your email, your calendar, your files, your shell.
Austrian developer Peter Steinberger built it after stepping back from his company PSPDFKit. His project gained a record 147,000 GitHub stars in weeks and started a whole ecosystem of spin-offs and one deeply strange AI-only social network called Moltbook.
Steinberger joined OpenAI in February to run its personal-agent push. OpenClaw itself did not join OpenAI. It moved into its own nonprofit, the OpenClaw Foundation, with OpenAI listed as one partner among Microsoft, GitHub, Nvidia, Atlassian, and Tencent. Independent, allegedly.
Why "accidentally" is the right wordThe plan for this Openclaw update was actually kind of small and focused on simplifying installation and rebuilding the browser app. That's it.
Then the team actually tried to do it properly, touching memory, models, plugins, messaging, and security. Before this release, OpenClaw had shipped 106 releases in 230 days—basically daily. Going seven weeks without shipping anything was, by their own admission, not normal.
They spent that extra time making sure existing installs wouldn't break on upgrade, which is pretty normal if you have used Openclaw before. Hence the flashing warning in the release notes about backing up sessions before you touch the new SQLite storage.
So “accidental” is not a marketing line. It's the team admitting scope creep in public. Two small fixes—onboarding, browser—pulled in everything else because everything else touched the same code they were already rewriting.
Hannes Rudolph, Openclaw’s Community Manager, frames it as OpenClaw eating its own dog food: once the team started running its own workflow through multiplayer sessions, the gaps in the old single-user design became too obvious to leave alone. So they didn't. That's how you get 16,000 pull requests instead of two.
What's actually newSetup now starts by checking what you already have—an existing Claude or ChatGPT subscription, an API key, a local Ollama model—before asking you to configure anything new. It tests if the model actually works before saving it, then dumps you straight into a real conversation instead of a settings screen nobody wanted to see.
The Control UI was rebuilt around chat instead of a separate overview dashboard, which puts it in the same visual family as ChatGPT, Claude, and Gemini. Files, Git diffs, pull-request status, a browser panel, and a terminal all live around the conversation now instead of forcing you to alt-tab through five different tools.
The team claims a simulated latency test cut initial JavaScript requests from 140 to 45 and startup time from 1.6 seconds to 575 milliseconds. Faster is faster; take the number for what it's worth.
The multiplayer pitchThe headline feature is shared cloud sessions—an agent's work becomes something a colleague can walk into mid-task without the context evaporating. Steinberger said on X that his own team ditched individual local coding harnesses for a shared setup at team.openclaw.ai, calling local harnesses "relics of the past."
Security caught up to match. OpenClaw 2.0 adds request-specific approvals, command permissions scoped to specific arguments, more complex things include Docker and Podman sandboxing, role-enforced execution, and a team-scoped Secret Store that can slot a credential into a request without ever showing it to the model.
The catch: sandboxing and approvals are still off by default. OpenClaw's own docs say one Gateway equals one trust domain, not a wall between people who don't trust each other. If your company needs actual tenant isolation, you're standing up separate Gateways—OpenClaw calls them "cells"—not flipping a switch.
The competition is heating upOpenClaw hasn't had the field to itself. Nous Research's Hermes Agent, first tagged in March, built its whole pitch around not being OpenClaw: procedural memory that turns successful workflows into reusable skills automatically, and security defaults that don't assume you're the only person who'll ever touch the machine.
OpenClaw splits a Gateway daemon from the agents it routes to. Hermes crams the conversation loop, tool dispatch, and memory into one agent class—messier to scale, simpler to reason about. The general verdict floating around all year: OpenClaw wins on ecosystem and channel breadth, Hermes wins on self-improvement and not shipping wide open by default.
OpenClaw 2.0's new sandboxing narrows that gap. It doesn't close it. The hardened settings still require someone to actually go turn them on.
How to get itExisting users update through the normal CLI path. Read the fine print first—sessions created after the SQLite migration won't show up if you downgrade later without a backup.
New users go through OpenClaw's setup guide, now with guided onboarding across Mac, Windows, Linux, iPhone, iPad, and Android, plus staged imports for anyone jumping over from Claude, Codex, or Hermes itself.
It's still free, still MIT-licensed, still living at github.com/openclaw/openclaw.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief OpenClaw shipped version 2026.8.1, branded OpenClaw 2.0, built by 933 contributors including 569 first-timers. The update rebuilds the browser app, adds shared multiplayer cloud sessions, moves session storage and implements features clearly aimed at enterprise buyers. It lands as Nous Research's Hermes Agent keeps stealing users frustrated with OpenClaw's setup headaches. OpenClaw shipped its biggest update ever over the weekend. The team calls it OpenClaw 2.0. They also called it "accidental," which, fine, we'll get to that.
The release notes touch installation, messaging, memory, skills, models, automations, the browser, native apps, plugins, and security—basically everything a user should know.
Myriad: When will OpenAI release GPT-6? Click to make your prediction.Per the announcement post, 933 contributors, 569 of them first-timers, contributed to the project with more than 16,000 pull requests. That's roughly half of every PR OpenClaw has ever merged, shipped in a single release.
What OpenClaw actually is, for the uninitiatedOpenClaw is a self-hosted, open-source framework that turns an LLM into an agent that doesn't go away when you close the tab. It lives on your machine, wakes up on its own schedule, and talks to you over WhatsApp, Telegram, Discord, or Signal instead of waiting politely in a chat window. Give it permission and it'll touch your email, your calendar, your files, your shell.
Austrian developer Peter Steinberger built it after stepping back from his company PSPDFKit. His project gained a record 147,000 GitHub stars in weeks and started a whole ecosystem of spin-offs and one deeply strange AI-only social network called Moltbook.
Steinberger joined OpenAI in February to run its personal-agent push. OpenClaw itself did not join OpenAI. It moved into its own nonprofit, the OpenClaw Foundation, with OpenAI listed as one partner among Microsoft, GitHub, Nvidia, Atlassian, and Tencent. Independent, allegedly.
Why "accidentally" is the right wordThe plan for this Openclaw update was actually kind of small and focused on simplifying installation and rebuilding the browser app. That's it.
Then the team actually tried to do it properly, touching memory, models, plugins, messaging, and security. Before this release, OpenClaw had shipped 106 releases in 230 days—basically daily. Going seven weeks without shipping anything was, by their own admission, not normal.
They spent that extra time making sure existing installs wouldn't break on upgrade, which is pretty normal if you have used Openclaw before. Hence the flashing warning in the release notes about backing up sessions before you touch the new SQLite storage.
So “accidental” is not a marketing line. It's the team admitting scope creep in public. Two small fixes—onboarding, browser—pulled in everything else because everything else touched the same code they were already rewriting.
Hannes Rudolph, Openclaw’s Community Manager, frames it as OpenClaw eating its own dog food: once the team started running its own workflow through multiplayer sessions, the gaps in the old single-user design became too obvious to leave alone. So they didn't. That's how you get 16,000 pull requests instead of two.
What's actually newSetup now starts by checking what you already have—an existing Claude or ChatGPT subscription, an API key, a local Ollama model—before asking you to configure anything new. It tests if the model actually works before saving it, then dumps you straight into a real conversation instead of a settings screen nobody wanted to see.
The Control UI was rebuilt around chat instead of a separate overview dashboard, which puts it in the same visual family as ChatGPT, Claude, and Gemini. Files, Git diffs, pull-request status, a browser panel, and a terminal all live around the conversation now instead of forcing you to alt-tab through five different tools.
The team claims a simulated latency test cut initial JavaScript requests from 140 to 45 and startup time from 1.6 seconds to 575 milliseconds. Faster is faster; take the number for what it's worth.
The multiplayer pitchThe headline feature is shared cloud sessions—an agent's work becomes something a colleague can walk into mid-task without the context evaporating. Steinberger said on X that his own team ditched individual local coding harnesses for a shared setup at team.openclaw.ai, calling local harnesses "relics of the past."
Security caught up to match. OpenClaw 2.0 adds request-specific approvals, command permissions scoped to specific arguments, more complex things include Docker and Podman sandboxing, role-enforced execution, and a team-scoped Secret Store that can slot a credential into a request without ever showing it to the model.
The catch: sandboxing and approvals are still off by default. OpenClaw's own docs say one Gateway equals one trust domain, not a wall between people who don't trust each other. If your company needs actual tenant isolation, you're standing up separate Gateways—OpenClaw calls them "cells"—not flipping a switch.
The competition is heating upOpenClaw hasn't had the field to itself. Nous Research's Hermes Agent, first tagged in March, built its whole pitch around not being OpenClaw: procedural memory that turns successful workflows into reusable skills automatically, and security defaults that don't assume you're the only person who'll ever touch the machine.
OpenClaw splits a Gateway daemon from the agents it routes to. Hermes crams the conversation loop, tool dispatch, and memory into one agent class—messier to scale, simpler to reason about. The general verdict floating around all year: OpenClaw wins on ecosystem and channel breadth, Hermes wins on self-improvement and not shipping wide open by default.
OpenClaw 2.0's new sandboxing narrows that gap. It doesn't close it. The hardened settings still require someone to actually go turn them on.
How to get itExisting users update through the normal CLI path. Read the fine print first—sessions created after the SQLite migration won't show up if you downgrade later without a backup.
New users go through OpenClaw's setup guide, now with guided onboarding across Mac, Windows, Linux, iPhone, iPad, and Android, plus staged imports for anyone jumping over from Claude, Codex, or Hermes itself.
It's still free, still MIT-licensed, still living at github.com/openclaw/openclaw.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Oleg Nesterov is the founder and CEO of MindK, which builds AI agents and custom software for U.S. healthcare revenue cycle management.
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Healthcare revenue cycle management (RCM) is a solved problem if you believe stats from vendors. Eligibility runs 96% electronically by CAQH's count, and claims often move down standardized rails. Ads now sell AI in revenue cycle management as the path to an "autonomous" back office. But walk onto any billing floor, and you may see people log in to payer portals by hand, rekey data that already exists and work denials one at a time.
This is true for all tasks that require both judgment and keystrokes. Prior auth is only 40% fully electronic. Attachments sit at 24% in medical spaces and are falling. Appeals, follow-ups and exceptions often don't get a standard transaction at all. Every day, I talk to medical billers who verify benefits mostly by hand.
In this space, I've found that everything with a standard transaction gets automated, and everything that requires deciding and then acting gets a work queue and a person to sit in it.
AI arrived in revenue cycle management with a promise of change, but it did not reach execution.A coordination system tells a person what to do. An execution system does it. RCM leveraged the first for two decades and called it the second. The AI revolution promised to change all of that. According to MGMA, 68% of medical groups reported adding or expanding AI tools in 2025. In another MGMA poll with a different set of 260 respondents, 68% said AI had not led them to redesign a single role or change staffing.
The reason for this is in what these tools can actually do. Most RCM AI recommends. It scores a denial by the likelihood of overturn, drafts the appeal letter and flags a documentation gap before submission. Then it routes the task back to a person to log in and finish. The human still produces the keystrokes.
Coordination has real value. But it does not free your staff from logging in to up to 11 or more portals a day. Every forced login is software admitting it cannot take the action itself and handing it to someone who can. A single prior authorization can mean checking eligibility in portal one, submitting in portal two, reading status in portal three and documenting in an EHR that connects to none of them. This fully electronic process can still take, from what I've seen in the industry, 10 minutes or more of manual work.
This is why a practice can roll out AI across every function and end the year with the same number of billers logging in to the same portals. Anywhere a workflow ends with a human typing into a payer's website, the AI advised and a person executed.
You still can't out-appeal the payer's AI by hand.On the other side, payers have already automated decisions. According to the 2025 CAQH Index, more than half of health plans now use AI in administrative workflows, against roughly a quarter of providers. A denial engine reads a claim, applies current policy and returns a decision in seconds. On the provider side, the response is a person opening a portal, reading the denial reason, pulling the record and assembling an appeal by hand.
According to HFMA, up to 65% of denied claims are never reworked. There are more defensible denials than there are biller-hours to defend them, so the appeal window closes before anyone reaches the claim.
This is why "appeal more aggressively" is not a plan. A team that doubles its appeal volume by working nights still loses ground if denials arrive faster than any human queue can get through them.
The fix is an execution layer, and being 'agentic' does not automatically make it happen.The alternative is an execution layer that acts. It logs in to the portal, reads the denial or the policy, decides what the claim needs and takes the next step itself, up to and including placing the call to the payer. The work that used to end at a human can then end at a completed action.
A real execution layer works both ends of the denial. An "agentic" solution is not an execution layer unless it meets the following criteria:
• It must log in to portals and deal with credentials, two-factor authentication and session timeouts—the unglamorous 80% of the job.
• It must read explanation-of-benefits files, remittances, denial letters and payer policy PDFs—all of it unstructured, inconsistent and frequently scanned.
• It must decide, appeal, correct, resubmit or write off—under payer-specific rules that change every month.
• It must act, including on the phone. A meaningful share of payer work still ends in a phone call, and an agent that cannot call a payer does not help billers.
"Agentic" on a vendor's slide does not guarantee any of this. Most tools carrying the label still read and recommend, then hand the action back to your biller.
There is a test any buyer can run inside any demo: Count how many logins the product removes and ask whether it changes the org chart or simply hands your team a better queue. If the headcount and the logins look the same after you go live, you bought a dashboard with a new adjective.
The clock is ticking.There is a deadline attached to this. CMS-0057-F requires payers to expose FHIR APIs, including for prior authorization, by January 1, 2027. That converts execution from brittle screen-scraping into a clean engineering problem. Being ready to consume those APIs on day one is a huge opportunity. Given build lead times, that readiness is decided now, not in December 2026.
So, change the question you ask of AI in healthcare revenue cycle management. Stop grading it on what it knows and start grading it on what it closes. Your stack already has a nervous system. It is time it grew hands.
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Stacks is teasing another institutional participant joining its Bitcoin staking program this week, building on momentum from a protocol upgrade that lets big players earn yield on BTC without ever giving up custody of their coins.
The announcement, shared on social media, follows the platform’s PoX-5 upgrade that went live on July 29, 2026, and the onboarding of UTXO Management as the inaugural institutional staker back in late May. With a Genesis Bond launch expected in late August, Stacks appears to be stacking up commitments at a deliberate pace.
How Bitcoin staking on Stacks actually works Bitcoin holders lock their BTC on Layer 1 using a timelock script, meaning the coins never leave the Bitcoin blockchain. They then pair that locked Bitcoin with a small amount of STX, Stacks’ native token, creating what the protocol calls a “protocol bond.” The Bitcoin stays under the holder’s control the entire time.
The yield target sits at roughly 3% APY in BTC, paid out over six-month periods. That return comes from miner bids through the Proof-of-Transfer mechanism, not from lending or rehypothecation. The initial institutional capacity has been capped at approximately 3,000 BTC during what Stacks calls a “managed bootstrap phase.”
The PoX-5 upgrade and institutional infrastructure The PoX-5 hard fork passed its governance vote with over 99.99% approval in July 2026. The upgrade was codified through two Stacks Improvement Proposals, SIP-044 and SIP-045, and activated on July 29 to coincide with a Bitcoin block milestone.
Stacks integrated with Fireblocks in June 2026 to handle institutional custody requirements. UTXO Management, the asset management arm of Nakamoto Inc., became the first institution to commit BTC to the program on May 28, 2026, locking a portion of its Bitcoin holdings while keeping them on Layer 1.
Why institutions care about BTC-denominated yield The Genesis Bond, expected to launch in late August 2026, will serve as the first formal institutional Bitcoin bonding event on the platform, giving institutions a clear entry point with defined terms.
The cadence of announcements — one inaugural staker in May, infrastructure integrations in June, a protocol upgrade in July, and now a second institution ahead of the Genesis Bond in August — suggests Stacks is executing a deliberately sequenced rollout designed to build confidence before scaling up.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Stacks [STX] has been on the higher side of late, with the asset’s gains crossing well over 127% in the past few weeks alone, a pattern that has continued since the start of the day.
The rally, however, doesn’t appear to be sustainable, with the growing outflow of capital across the perpetual market and conditions on the chart pointing to overheated sentiment that could force the price even lower from its current level.
The flow of capital remains slim There’s been a growing capital concentration among short traders in the perpetual market, dictating the direction of flow for STX as likely being bearish.
Data shows that the Funding Rate has plummeted to about -0.1244% at the time of writing, which remains one of its steepest levels yet.
Source: CoinGlass A negative Funding Rate implies that there’s more capital concentration in short positions, with traders anticipating a further decline in price from the current level at which it trades. An aggressive negative rate hints that the downward pull could be strong.
Similarly, sellers have dominated STX’s perpetual market volume ratio. The Taker Buy/Sell Ratio, which details whether taker buyers or sellers are in control based on readings above or below 1, says the latter is in control.
The Taker Sell Ratio at the time of this analysis has fallen to 0.80, confirming that there has been growing short volume, despite the price yet to catch up.
The market is overpriced The Bollinger Band analysis of STX price found that, at the time, investors had overbought it, and the price was trading far above its fair value.
This happens when the price trades into the red line, or upper band, of the BB. At that time, the price was significantly above this zone. What follows is usually a decline, as demand begins to decline.
Likewise, the Relative Strength Index, which tracks the strength of price movements, has shown the same signal, as it crossed into its own overbought zone above 80.
Source: TradingView Using the Bollinger Band as a tracker, the present fair value for the price would be the mid-band level, which is the blue line, at the $0.15 price point on the chart. This could act as a support zone, as it historically does.
The upside is capped Using the one-month liquidation heatmap to analyze STX and identify cluster zones on the chart, which are areas of unfilled orders above and below the price, shows that there’s limited upside.
Cluster zones appear as shaded areas on the chart. Zones above the price can pull it higher, while zones below can attract it lower.
Source: CoinGlass At the moment, the cluster above remains minimal, suggesting that there’s a limit to how far the price could rally from this level. A move into the upward zone would then be followed by a decline in price, as the upward clusters are dominated by sell orders.
Final Summary STX faces growing selling pressure as negative Funding Rates and a low Taker Buy/Sell Ratio point to strong short-side positioning. Overbought momentum and limited liquidation clusters above the price suggest STX could struggle to extend its rally.
The cryptocurrency market staged a remarkable recovery last week, with several coins posting double-digit gains. Stacks (CRYPTO: STX), a Bitcoin (CRYPTO: BTC) Layer-2 token, outperformed them all.
STX Doubles in ValueSTX exploded over 100% to become the market’s most successful cryptocurrency in the last seven days. The gains widened after a 6.45% uptick on Monday.
STX’s trading volume spiked 6.36% over the last 24 hours to $437.74 million, signaling strong buying interest.
The STX rally followed Bitcoin’s strong weekly gains, which lifted the cryptocurrency to $80,000 for the first time in more than three months.
STX is the native coin of Stacks, a layer-2 solution that helps the development of decentralized applications on the Bitcoin blockchain. Put simply, it helps unlock Bitcoin’s DeFi use cases.
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These Coins Also Returned A HandfulOfficial Trump (CRYPTO: TRUMP) ranked among last week’s biggest winners, with the President Donald Trump-themed memecoin surging 80% to become the market’s third-largest gainer.
PENGU, the native token of popular NFT brand Pudgy Penguins, jumped nearly 70% over the week, while frog-themed memecoin Pepe (CRYPTO: PEPE) lobbed 63%.
The overall cryptocurrency market expanded 24% in a week from $2.18 trillion to $2.72 trillion.
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Photo: Sebastian Duda on Shutterstock.com
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PANews reported on August 25 that, according to SoSoValue data, affected by combined factors including Bessent possibly deploying nearly $1 trillion in the TGA to buy bonds and the United States expanding economic sanctions against Iran, crypto market sectors resumed their upward trend. The Layer 2 sector stood out, rising 3.02% in 24 hours, with Polygon (POL) up 8.50%, Stacks (STX) up 4.76%, and Mantle (MNT) up 2.82%. Meanwhile, Bitcoin (BTC) rose 3.22%, touching $80,000 during the session; Ethereum (ETH) rose 2.38%, breaking back above $2,500 during the session.
In other sectors, the Layer 1 sector rose 2.21% in 24 hours, with Solana (SOL) up 6.14%; the CeFi sector rose 2.08%, with OKB (OKB) up 6.49%; the PayFi sector rose 1.97%, with Telcoin (TEL) up 7.81%; the Meme sector rose 0.44%, with dogwifhat (WIF) up 5.80%.
In addition, the DeFi sector fell 0.27%, but Ondo Finance (ONDO) was relatively resilient, rising 5.80%.
Ankr, the decentralized infrastructure provider, has been added to the sBTC signer set on Stacks, joining a small group of operators tasked with validating and securing Bitcoin-pegged transactions on the Layer 2 network.
For those unfamiliar with the setup: sBTC is a token on Stacks that’s pegged 1:1 to Bitcoin. The signer set is the group of operators who collectively approve the minting and movement of sBTC, functioning like a multi-signature committee that keeps the peg honest.
How the signer model works The initial sBTC signer set launched with 14 operators after one original nominee withdrew before go-live. Transactions require approval from at least 10 of those 14 signers, a threshold designed to balance security with operational efficiency.
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Signers aren’t chosen at random. Operators must meet strict criteria around uptime, geographic diversity, and technical capability.
sBTC deposits went live on mainnet on December 17, 2024, with withdrawal functionality expected to follow in March 2025.
What Ankr brings to the table Ankr operates a Bitcoin Secured Infrastructure platform that provides RPC services, validator solutions, and customizable tooling aimed at Bitcoin-related protocols.
“We’re thrilled to support Stacks and sBTC to build Bitcoin’s future.”
That’s Ankr Co-Founder and CEO Chandler Song, who framed the partnership as part of a broader push to extend Bitcoin’s utility beyond simple value transfer.
Ankr’s participation aligns with the Stacks Foundation’s “Best and the Brightest” campaign, an initiative that highlights key institutional supporters of sBTC.
The bigger picture for Bitcoin DeFi The sBTC signer model is designed to evolve over time. The current structure is intended as a stepping stone toward a more permissionless system, with plans to integrate signer selection with Stacks’ Proof of Transfer consensus mechanism, which itself is anchored to Bitcoin’s own blockchain.
Broader rotations within the sBTC signer set have been noted over time, with other institutional participants cycling in and out.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
