- Stacks hits an all-time high with over 150 million STX locked in DeFi applications.
- Bitflow emerges as a key liquidity hub on Stacks with advanced trading features.
DeFiLlama just revealed that over 150 million locked STX is the all-time high for Total Value Locked (TVL) in Stacks decentralized finance (DeFi) apps. This important turning point emphasizes how Stacks’ DeFi ecosystem is being adopted and trusted more and more.
With Bitflow bringing several improvements based on the successful models from Ethereum’s DeFi protocols, the Bitcoin DeFi ecosystem is likewise experiencing ongoing innovation as the TVL keeps growing. We go into great detail on these fascinating advancements in this week’s “Stacks Snacks”.
Bitflow: The Emerging Liquidity Hub
Announcing its protocol as the new Liquidity Hub on Stacks, Bitflow offers a number of sophisticated features, like an aggregator, stable swaps in the Deep Liquidity Curve style, liquidity pools in the Uniswap style, and several trading routes.
Designed to improve trading efficiency and liquidity inside the Stacks ecosystem, these features give users a range of strong options for their DeFi activity.
Popularity Increases for Liquid Stacking Asset (STX)
Developed by Stacking DAO, the liquid stacking asset stSTX is now the most widely available Stacks-based token in the ecosystem, according to community leaders. This accessibility is predicted to encourage more interest and involvement in the Stacks ecosystem, fostering a more diverse and involved community.
Developments and Community Involvement Methodology.Prominent Stacks community member btc shared Hiro’s Signer dashboard, which, after the Nakamoto upgrade and the launch of sBTC, now has over 30 signers. Inside the Stacks ecosystem, this infrastructure improvement facilitates more safe and effective transactions.
Unique Liquid Stackers $stSTX
This is looking pretty health, don’t you think?@StackingDao
Link on next piece of the 🧵1/2 pic.twitter.com/OKIAFbBe5w
— Ortege AI (@OrtegeAI) June 19, 2024
Ortege, in the meantime, has announced that user engagement for StackingDAO is significantly rising as the unique Liquid Stackers get closer to the 25,000 mark. Grayscale has also released an in-depth “STX Deeper Dive,” which offers thorough analysis of STX’s prospects and future in the larger cryptocurrency space.
As of writing this, STX is trading at about $1.72, up 6.60% over the last 24 hours. Gains of 1.85% over the last week are indicative of this optimistic trend and rising investor interest in STX.