Loading...
Market
Story
Stacks Launches sBTC, Unlocking $2T in Bitcoin Liquidity with 5% Yield and 1,000 BTC Ceiling
Dec 17, 2024, 04:54 PM
The Stacks network has officially launched sBTC, a Bitcoin-backed asset designed to enhance the Bitcoin ecosystem and facilitate decentralized finance (DeFi) activities. Users can lock their Bitcoin in a multi-signature protocol and receive sBTC in return, which allows for various DeFi operations such as trading, lending, and arbitrage. The launch is significant as it aims to unlock over $2 trillion in Bitcoin liquidity for DeFi. sBTC is backed 1:1 by Bitcoin and offers an annual yield of 5% for holders, with rewards distributed bi-weekly. The initial supply is capped at 1,000 BTC. Key industry players, including BitGo and Ankr, support the initiative, which is seen as a major advancement in Bitcoin's programmability and usability in the DeFi space. The launch is expected to attract more liquidity and engagement within the Bitcoin community.
View original story
Similar markets
BitGo • 25%
Asymmetric • 25%
Ankr • 25%
Other • 25%
Trading • 25%
Lending • 25%
Arbitrage • 25%
Other • 25%
Less than 500,000 • 25%
500,000 to 1,000,000 • 25%
1,000,001 to 1,500,000 • 25%
More than 1,500,000 • 25%
Less than 1,000 • 25%
1,000 to 5,000 • 25%
5,001 to 10,000 • 25%
More than 10,000 • 25%
Less than 5 • 25%
5 to 10 • 25%
11 to 20 • 25%
More than 20 • 25%
0-10 • 25%
11-20 • 25%
21-50 • 25%
51+ • 25%
Stacks consensus mechanism • 25%
DeFi lending • 25%
Liquidity mining • 25%
Other • 25%
Over 100,000 holders • 25%
50,000 to 100,000 holders • 25%
10,000 to 50,000 holders • 25%
Less than 10,000 holders • 25%
Less than $1 billion • 25%
$1 billion - $5 billion • 25%
$5 billion - $10 billion • 25%
More than $10 billion • 25%
Less than 5,000 BTC • 25%
5,000 to 7,500 BTC • 25%
7,501 to 10,000 BTC • 25%
More than 10,000 BTC • 25%