Stacks recently released its Q3 report with updates.
Here's a short TL;DR + some of my thoughts ↓
→ Bitcoin Staking
The first two staking rounds brought in 735 BTC, with 21Shares, HashKey Cloud, and UTXO Management among the participants.
→ Liquid Staking
@StackingDao accounted for 483 BTC of the 505 BTC in the second round. It now has 636 BTC worth of stBTC in circulation.
→ STX Staking
The amount of STX staked has grown by over 25% since the PoX-5 upgrade, from 392M to 493M STX.
→ Lending
@ZestProtocol now has over $122M in deposits and $42M in loans, with around 800 BTC used as collateral.
→ Trading
Trading across Stacks DEXs reached $16.7M in a single week in September, the highest in a year, with
@Bitflow leading the activity.
My guess is that BTC staking will end up benefiting more than just the staking protocols.
More people borrowing against their staked BTC → more activity in lending markets and DEXs → more fees going to different parts of the ecosystem.
Quite the opportunity for the entire ecosystem.
Disclosure: I'm a long-time
$STX holder and Stacks supporter.