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Stacks DeFi Show #104
Recorded: March 24, 2026 Duration: 0:32:27Space Recording
Full Transcription
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Music Music Music Music Music Music Music Music Music Music Oh I'm going to go to the next video. I Oh I'm going to go to the next video. Thank you. Hey everyone, let's wait just a few more minutes.
I want to invite a few people on the Twitter space.
Just a few more minutes of patience. you Hey JP, can you hear me?
Yeah, you come through loud and clear.
What's up, Nur?
How are we doing, the advisor?
Doing great, doing great.
So I think we can start.
Tycho is not going to join today.
Inferior Roops will be coming soon to the show, but we can get started.
If there's someone that wants to talk, make sure to raise your hand.
I like to try to ask for the mic and we'll try to make you a speaker.
Before starting, as always, it's important to say that stocks, once I've mentioned that nothing
that's been said here is financial advice.
And having said that, let's start to dig into what happened the last week around stocks.
So, before giving you, so maybe before digging into, as always, let's introduce ourselves.
So, I'm going to start myself and then jp is going to go
through it i'm the advisor the btc i've seen i create content about bitcoin tools mainly focus
on stacks and cover bitcoin defy and i actively say work within the ecosystem, helping virus protocols and stocks with marketing activities.
And JP, would you want to introduce yourself?
Yeah, what's up, guys? I'm GP.
I am the community manager for Zest Protocol and Stacking DAO,
also the co-host of Deorganized Media's Let's Go Morning Show.
It goes live on Fridays, where we cover everything and talk uh to all
the builders from the space um also an nft artist and just have my hands in a lot of things that are
taking place here in the stacks ecosystem thoroughly integrated and uh you know
trying to get everybody to to see what is going on and what value Stacks brings to Bitcoin.
Nice.
So first of all, quite a few things have occurred on Stacks in the last week.
I feel like one of the most important news that we've seen is the blockchain that Stacks
with its latest upgrade boosted
defy capacity up to 30x and it's already been pinned here in the chat i think this is huge
because like as you onboard more people and developers you want to make sure that
and developers, you want to make sure that the Bitcoin Defined Stocks can support more users
and at the same time enable developers to do more complicated stuff, which require more capacity.
So I think this is just like a trend that we've seen in the last few years.
We started with Nakamoto, like before we had 10 minutes blocks, then it became super fast, takes a few seconds for block.
Then, defect capacity has been improving.
Also, even the blocks are getting confirmed faster than when Nakamoto was first, when it first went live.
So I feel like this is just a big step up with stocks and towards the right trend.
Like we keep seeing the improvement.
And JP, do you have a comment on this or not really?
Yeah, yeah. I feel like 30X is a whole lot. The capacity is getting, it's awesome to see that so many updates have been shipped in Q1 2026. It's got me feeling like what's happening the rest of the year right we've got three more quarters and look at how much has been shipped already just in the first three months of 2026 so um really really bullish right now um feeling blessed
Yeah, yeah.
I feel like 30X is a whole lot.
to to be here and seeing everybody else find the value where we've seen it where we've been building
where we've been chipping away at this block for for some time so uh really good to see bigger accounts talking about stacks as well as you know
the defy activities that you can do here in the bitcoin ecosystem
yeah and like also seen like on stacks account i think this went a bit under the radar
but some not like a long time ago munib went to this Samarit conference, this crypto conference in Samarit.
And basically, they share that 80% of leaders now view Bitcoin as an established part of the global portfolios.
15% of the total supply is now held on institutional balance sheet.
the total supply is now held on institutional balance sheet and six to seven percent yield is
possible from cost storage via technical breakthroughs on stocks and especially in this
moment where people feel like crypto retail like the twitter is a bit down you see less activity
we don't realize that there is another side, which is institutions. Like retail might be a bit more quiet for retail right now,
but institutions are definitely buying a ton of PTC
and they want to earn yield on it.
And Stacks is like on the front,
like leading the way to unlock all of that yield.
So I think this news went a bit under the radar
because people might be too focused on crypto Twitter.
But it's institutions that are actually going to drive Bitcoin.
Not drive Bitcoin innovation, but the demand of institutions is what's going to bring more and more developers to Bitcoin and like accelerate innovation around Bitcoin. So I think this is really, really promising.
And yeah, as always, we're going to do some back and forth for us for now,
me and you, JP. So we'd love to have your opinion on this.
Well, I think that, you know, the self-custodial Bitcoin staking kind of goes over people's heads how important that is. There's these different rules that these institutions have to follow and being compliant to enable to hold Bitcoin so that they're able to self-custody their Bitcoin, don't have to give it to any other platform and they could begin to earn yield on it
is such a huge novel uh thing it's hard to to kind of wrap your head around this is not you know
been people were not able to do this before so it is a huge innovation and i'm really really excited
to see uh what happens right i saw really, really good post yesterday on the timeline
from DeFi Warhol. It was also reposted from the main Stacks handle, kind of breaking down why
self-custodial Bitcoin staking is so important and why it's such a huge deal you know these institutions won't have to you know compromise to earn yield and that's
huge yeah you touched on an important point where lately a few crypto educators have been covering
stocks for example stacy moore and the defy world but i really like defy viral posts like it touched stuff because everyone's taking sbtc
sex ecosystem and again like talking about institutions and what they want they want
bitcoin yield but they won't they don't want to compromise on security like they need to have a
certain let's say framework to invest if invest. If they cannot maintain that framework,
they're not going to deploy BTC on-chain.
And self-custodial BTC staking,
which is the first holy grail for Bitcoin DeFi,
is going to enable institutions to join
because basically they don't need to lose custody on BTC to earn
yield.
And it's definitely something big that's going to come to stocks.
And especially when you mix it with dual staking, it's going to give more utility to STX.
So this is a big, big deal.
And then you have all this, you have Hermetica, you have Zest, you have Bitflow, which are really trying to win over Bitcoin DeFi.
For example, I've seen a post from, I think it was
Dylan, about how much volume the BTC-USD
pairs on a Bitflow. And so imagine if
Bitflow can win over the BTC-USD
swap,
let's say market,
if it becomes the main market for BTC-USD flow.
Then you have Zest with borrowing,
if you can really win the borrowing side.
And then you have Hermetica with CoolVaults,
then you really get like the pillars of Bitcoin,
DeFi and institutional adoption.
You were still a bit early, but I think it's really promising
what we're heading towards.
Yeah, I agree.
I agree.
I love the way that you put it.
They are the pillars, right?
We have many, many options here within the Stacks ecosystem
for people to put their Bitcoin to work.
We've got liquid stacking tokens, staking tokens, which is huge.
You're able to stay liquid while earning that 10%, up to 10% APY from POX.
Proof of transfer is such an awesome concept concept and um you know i i love that it
is so malleable you can do a lot with it um you know we have borrowing and lending here
we we have other devs that are that are working on more options so it's just it it really is
coming together and it's looking very, very bright.
I love the way that, you know, DeFi Warhol kind of highlighted, you know, Bitflow, Zest, Hermetica.
And, you know, you can't sleep on the AI BTC devs. What they've been doing with the autonomous agents is amazing.
You know, I was hanging out with the Bitflow crew and building on Bitcoin. I think it was
like last week or the week before, and they were talking about sponsoring a trading competition
again. They did one of these before where these agents were just trading on chain, different
assets and identifying different strategies. And I feel like there's going to be more of that.
That's going to become the norm. Everybody's going to have an agent.
Some are going to choose to vibe code and create their own apps,
but it's more feasible than ever before.
I do feel like seeing Bitflow do 160 mil and the BTC USD pair was huge.
Big shout out to Dylan and Diego.
I know they've been working working really really hard on uh
shipping shipping hodl uh so it's it's really cool to see that they're getting some traction
and um you know that that btc usd pair is getting some action 160 mil is no small feat
yeah indeed and talking about ai like you see like cloud, for example, release, you
got this cool like update. Now I realize how much AI agents like AI can play a big factor
on Bitcoin. So I really, really love what, what Ibtc is doing. Because, because if you really get agents to use BTC or store BTC,
the plot in D, find whatever you can think about,
it can definitely become a powerful, let's say, new tooling and source of innovation.
And it's something that I've yet to play around with.
So I haven't yet launched an agent
which has launching capabilities via IBTC,
but I've seen many people on stacks
already played with it
and have only good words
and good stuff to talk about it.
JPI have tested it for now.
So this is one of the things that i wanted to do this week i wanted to set up an ai agent in the weekly screen share in the
in the zest discord i'm just going to go ahead and do it i've been working on getting a different
machine kind of set up i want to put clot on it start playing around with uh clod a bit but uh you know just kind of dipping my toes in
and spinning up an agent um with the aibtc devs and i'm going to do it live and record it
and show how you know uh straightforward the process is because uh from what i'm seeing um
they've got a really really nice very concise on how to do it how to get set up and started
very concise on how to do it, how to get set up and started. So definitely want to make a video,
the project, the process. That way people can see like, oh, hey, well, this is how long it took.
This is how easy it is to get started. And I feel like a lot of the transactions volume is going to be agents trading in the near future.
I feel like we saw a lot of unique active wallets spike in February.
I don't know how many of those were agents, right?
I would like to say, you know, 50% of them maybe.
You know, like that's exciting to me you know thinking that uh
that agentic layer for bitcoin is is being built in real time and i also see i want to i want to
highlight the ai btc pulse handle as well i've been paying attention to that and uh you know
whenever one of these agents earns some sats um you know it'll it'll go and post that to the timeline as well as if a new agent
comes online it also introduces it and says hey this agent just came online you know so
i've been paying attention to that handle so i i like to see you know that they're showcasing what
is going on through um their x handle you know really cool stuff um i'm really excited too you know these agents are
learning new skills every single week you know uh i i think it was about two weeks ago maybe
maybe a little less i saw on the timeline that um one of these agents uh has a skill that involves
zest and they they parked some sats over in Zest to start earning yield.
You know, from whatever, however they earned it, they decided to go park it on Zest.
So I thought that was pretty cool.
It's only a matter of time and they decided that on their own, you know, so it's crazy, man.
Yeah, it is.
And changing a bit the subject, there's two things I want to talk about, but I've seen a grant post about Stacks DeFi TVL growth.
And basically, the TVL on stocks hasn't really went down in the last few quarters,
which is interesting given the downturn of the stocks
of the crypto market.
It means that we've seen many ecosystems
where TBI went down,
getting less volume, less supplies.
Yet it looks like people are sticking around on stocks and keeping their
liquidity in and i think it's mainly to reason like if there is a with sv2 for instance and before
i mean there's three components but that's v2 launched when you have bitflow.llm and now you're
going to have hermetica hbtc and they give a strong reason to keep your SBTC on stocks
because they earn yield with dual staking.
Then there's a ton of stable coniquity
which can be borrowed,
and then you can convert it to SDCH
and earn some staking yield with Hermetica.
So I might be wrong, but my assumption is that
given stocks unique, let's say, DeFi ecosystem
and well-staking, there are strong reasons for the liquidity that is already on Stacks
to stick around, despite, let's say, the bear market, whatever you want to call it,
or at the downturn moment for the crypto ecosystem.
So that was something really, really interesting that I found.
related to DeFi,
I've seen also
Jacob, the founder
of Hermetica, I've seen like a
post where basically the
first cap of 25 BTC
has been rich for HPTC.
And I guess like we're getting
closer and closer to HPTC vault uh maybe jp have
a few words about it maybe you know a bit more about it like of course maybe you can give a
explain really quickly what is the hpc and why do you think uh it's exciting for stacks ecosystem
well yeah absolutely um i'm just gonna go ahead and throw their post from February up
there into the nest for anybody to jump on the wait list there. They are accepting people to
get signed up for HBTC vaults, right? So it's really cool to see that people will be able to bring their BTC to Hermetica,
go and earn yield in one place,
make the strategy very, very simple and straightforward.
Behind the scenes, it is using different strategies
within our ecosystem that people have to go to multiple platforms to execute.
that people have to go to multiple platforms to execute.
So being able to just go to one of these protocols
and being able to supply your BTC
and putting it to work is really cool.
Simplifying the complex DeFi strategies
that OGs within this ecosystem have been using all along.
So just making it a one-stop shop
like hey go supply your sbtc get into the hbtc vault and uh you know you're in the game
indeed like i found pretty cool like i've been a big proponent of bitcoin vaults for a long time
We've been a big proponent of Bitcoin vaults for a long time.
Like my opinion is the easiest way we can get retail,
but also maybe institutions to deploy BTC.
Because let's say if you have to manually implement
certain strategy, takes time, you need to follow them.
You need to be sure you're not gonna get maybe liquidate
and stuff like that.
And so what HBTC does is automatically running
efficiently, different strategies.
So they may deposit HBTC on Zest, borrow stable coin,
convert it to the CCH, staking it,
but in an optimal way,
but what do you turn around getting liquidated?
So all these smalls are making,
let's say advanced HBTC strategies
is accessible to everyone.
And this is the way you onboard retail
because now you can just start the move,
just deposit and you can make X percent.
It's way less complicated.
And I see Rubes is a speaker right now.
Not sure if he can talk. guys so i am uh sorry i'm late
no worries real rubes what's up hey guys how's it going doing great doing great and not sure
like what you missed when john exactly but um yeah cruci if you have any i mean we've been
covering about abit stocks news of the last week cruci if you have any I mean we've been covering about a bit this tax
news of the last week Chris if you have anything to share like something that you noticed about
the crypto market something you wanted to share yeah I kind of caught the last probably five
minutes so I kind of joined in when GP was talking about him setting up his AI agent which is very
cool I'm a couple of steps ahead of that at the moment myself.
So I've got my agent on AI BTC at the moment, and he's, I say he, you know, he's affectionately
known as a he now to me, but that's how I refer to him. But so I've got TFI as my agent,
which is the Tenero, the Tenero dinosaur is the X profile picture. And they're currently running PRs on GitHub.
They're doing bounties, quests, interacting with other agents,
which is pretty cool.
I'm not giving it an awful lot of direction at the moment.
I'm kind of just running it and seeing where,
just out of curiosity, where it ends up.
So that's quite an exciting journey that's going on.
And obviously the AIBCC guys are really killing it there.
I know last week I think it was 140 agents.
Now it's 220, I think, plus or even more.
I do expect this thing to kind of snowball out as more and more people get involved.
It wouldn't surprise me if, you know, 500 and even 1,000 agents come very, very quickly.
So exciting things there.
Obviously, HBTC filling filling the cap which is amazing
um i was lucky to get on the wait list and add a little bit of um bitcoin there which is very cool
very smooth experience and uh excited to see how that develops as well but there's just lots going
on to be honest at the moment we're from people that don't know in the audience i'm the co-founder
of tenero which is a token analytics platform for the Bitcoin ecosystem, including, of course, Root, which is Stacks.
And at the moment, we're currently integrating the HODL MM pools from Bitflow.
Also speaking to Jacob and the Hermetica team about something that will be coming up in the next couple of weeks about integrating HPTC potentially.
So that's quite exciting times as well um but yeah i feel like there's a lot of a lot of stuff going on in the
ecosystem despite the you know market conditions things being quite quiet on x and so on but i do
feel like the the stacks eco is still going strong still you know heads down building and uh yeah It's been an exciting time still.
Yeah, indeed.
On the other side,
is there something we want to tease or feel like just working in the background for now?
Yeah, we're still kind of heads down building.
We've got a big long roadmap of things we want to keep adding,
teams we're collabing with,
so we're still going ahead with that.
Obviously, I mentioned speaking to Jacobacob and hermetica team potentially doing something there with hbtc as things kind of open up there um so that's a little bit of a teaser um working
on the hodl mm side adding the pools from bitflow which also relates to to leo so leo is going to be
the first meme coin on the hodl MM, so definitely pay attention to that.
People can kind of use their stacks in Leo for the best potential kind of like liquidity use for them to earn the most fees and so on, which is quite exciting.
Tenero has also been added as a skill to the AI BTC network, so people can use their AI agents and use the Ten Arrow skill, which is very cool.
So I'm using that for my agent at the moment. I think quite a number of other ones are using it for market stats and price and liquidity and volume and all those kind of things.
And yeah, we've just got a lot on at the moment. It feels like we've't got enough time in the day.
Indeed.
I feel like especially with the all AI accelerating,
people try to learn as much about AI at the same time,
try to keep up with the crypto ecosystem,
which already was stuff just following the crypto ecosystem,
not following both.
It's almost a full-time job.
And something else I wanted to mention, because I don't think maybe all the people are aware of it.
Last week, I was like the voting for the CIP 3940 and 41,
where basically it was introducing passwordless smart wallet onboarding without showing
failed transaction and also addresses chain growth via chain state brewing so it's a bit more scalable
and i think like some of them are a bit more technical but what i found really interesting is
in terms of user experience is it's like this improvement for less field transactions.
Obviously, for instance, Solana had some of these issues in the past.
Once you remove those, the user experience really improves.
But even better is the passwordless smart wallet onboarding.
I think one of the biggest, not issues, but blockers of adoption around crypto
is like wallet onboarding
and avoiding to have a password like social login
and stuff like that
just make it much, much easier to onboard in the future.
So I'm really curious to see how maybe Stacks,
DeFi or Stacks applications in the future
might use this feature.
And what else?
I think we, I mean, I don't have any much to share for this week.
Do you guys, JP or Rubs, have something you wanted to share or talk about?
Yeah, yeah.
So the AIBTC devs also know since we're kind of on this topic
announced that they're going to be doing here i'll throw it up in the nest as well
uh so starting tomorrow agents will earn btc for reporting news to ai btc.news 50 000 over 30 days
full announcement on our x space at 9 30 a.m pt and that's going to be at 12 30 p.m pt or est today
so i'm looking forward to hearing a little bit more about this i feel like they're building a
network for um you know spreading the the news far and wide and uh getting these different agents
activated so i just thought this is very interesting.
So they're bootstrapping a lot of cool initiatives right now.
So I'd definitely be paying attention.
Like I said, I'm going to be in the Zest Discord on Wednesday
at 1 p.m. ET setting up my agent
and kind of documenting the process.
So definitely give the aibtc dev
handle a follow and uh get into the zest discord guys but um yeah that's that's about it man
nice groups do you have something you wanted to share something else um nothing extra on on my
side i think i kind of covered again i only
jumped in late apologies but um yeah to follow me um follow at tenero underscore io um follow at
leocoin stx to kind of keep up with updates there and there's always stuff going on i'm always
pushing stuff out on my ex or whether it be tenero or leo But yeah, nothing else to add from my side. Everything's looking pretty cool, I think.
Nice.
So I think we can just stop here for this episode.
And maybe as usual, a reminder that make sure to check StackingDow
and Zest Twitter pages, Twitter accounts for the latest news.
And if you want to be part of the Stacks community,
you want to have some chats, some interactive activities,
make sure to join StackingNow and Zest Discord
where GPS is handling them.
But for the rest, I think we can just stop here for this episode
and see you next week uh for a new weekly
show right on guys have a blessed rest of your week and uh you know take it in stride you guys
have a good one i hope the high frequencies follow you and that love surrounds you catch you on the
flip side bye bye everyone
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