HashKey Cloud Backs Stacks' Genesis Bond Pilot for Native Bitcoin Yield
HashKey Cloud has become the second institution to participate in Stacks' Genesis Bond pilot. The Asian infrastructure provider will deploy Bitcoin on Stacks, making it a key player in the network's native Bitcoin yield experiment.
In this arrangement, HashKey will time-lock BTC on Bitcoin and retain the keys. The company will also pair the position with STX worth roughly 5% of the committed Bitcoin. This means that while Bitcoin stays on Bitcoin, the return depends on Stacks' miner economics and is therefore variable.
Stacks targets about 3% annualized from BTC committed by its miners, which can result in payouts for participants. However, these payouts depend on STX and Stacks miner economics, making them subject to change.
The Genesis Bond pilot is set to begin around September 10, at which point the total BTC committed will become visible on-chain. HashKey's allocation has not been disclosed.