Stacking DAO Launches Liquid-Staked BTC, Aims to Unlock Idle Capital
Stacking DAO has announced stBTC, a new liquid-staked version of Bitcoin designed for use on Stacks' upcoming Bitcoin Staking release. This allows BTC holders to earn yield through staking while keeping their capital liquid and accessible across the rest of the Stacks ecosystem.
The launch of stBTC aims to address the large pool of idle Bitcoin, which currently sits at a significant majority of its total supply. By enabling this new form of staking, Stacking DAO seeks to give BTC holders an opportunity to put their capital to work and participate in on-chain finance.
According to Tycho Onnasch, Core Contributor at Stacking DAO, 'Bitcoin has never had a true staking economy of its own, and stBTC for Bitcoin staking on Stacks is our answer to that gap.'