Xverse Unleashes sBTC Staking on Stacks with Version 2.9
Xverse has launched Bitcoin staking through sBTC on Stacks, making this feature available in its self-custodial wallet version 2.9. This allows users to put their existing Bitcoin to work and earn additional Bitcoin through a fee-efficient representation of Bitcoin on the Stacks network.
The product does not lock native BTC directly on the Bitcoin base layer, but rather uses sBTC which is backed one-for-one by Bitcoin held through the Stacks signer system. When pairing sBTC with STX, users receive roughly 5% of their deposited sBTC in STX value, establishing eligibility and linking the position to a Stacks identity.
The target annual percentage yield for this staking program is around 3%, with rewards arriving in sBTC about once every two weeks. Each bond runs for six months, after which users can withdraw both assets if desired, or remove early but leave the paired STX locked until maturity.