Stacks Community Approves Bitcoin Staking Upgrade with Over 99% Vote
The Stacks community has approved the Bitcoin Staking upgrade, SIP-045, with over 99% of votes cast in favor. The upgrade will allow participants to lock BTC in a timelocked contract on Bitcoin's base layer and pair it with locked STX to earn yield paid in bitcoin.
A companion proposal, SIP-044, which brings Clarity 6 and new staking post-conditions, also passed alongside the upgrade. Voting opened July 6, and the hard fork is targeted for around July 29 at roughly Bitcoin block 907,740.
Muneeb Ali, Stacks co-creator, said that 'Bitcoin is the world's most trusted asset precisely because of its design and safety principles on the L1.' He added that holders can now earn yield denominated in BTC, trustlessly, while their Bitcoin stays exactly where it belongs.