Bitfinex Praises Stacks for Exceptional Bitcoin Usage

Bitfinex has recognized Stacks as a leading protocol in terms of actual Bitcoin usage, highlighting its growing relevance in the broader market. The exchange listed the native STX token on April 8, 2025, and took on the role of a network signer, contributing exchange-grade liquidity to the Stacks network and participating in its operational security.

The mechanism behind Stacks, called Proof-of-Transfer (PoX), has resulted in more than 4,000 BTC moving on-chain since 2021. This is roughly $400M worth of Bitcoin at current prices flowing through a single layer-2 protocol's consensus engine.

sBTC, a Bitcoin-backed asset that lives natively on Stacks, surpassed 5,000 BTC in deposits as of late 2024. The STX token powers transactions, enables governance participation, and allows holders to earn stacking rewards denominated in Bitcoin.