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Stacks DeFi Show #74
Recorded: July 15, 2025 Duration: 1:03:19Space Recording
Short Summary
The Stacks DeFi Show number 74 showcased significant developments in the Stacks ecosystem, including the closure of SIP 31 voting, a partnership with Nansen for enhanced analytics, and impressive yield opportunities with USDH. Community engagement is on the rise, with over 100,000 quests claimed in the Zeely campaign, highlighting the growing interest in Bitcoin DeFi.
Full Transcription
Thank you. Thank you. Thank you. you
Jam Jam everyone can you hear me
Perfect, so let's wait for a few minutes.
It should be here.
Worst case, we can get started with Roots, with Jack.
Let's wait one minute. Okay. Okay. Maybe we can get started.
Okay.
Okay.
Okay, maybe we can get started while we're waiting for Tyco.
So thanks everyone for joining the Stacks DeFi Show number 74.
For those that are new, this is the place to learn more about Stacks, Bitcoin DeFi, and
everything that happens in the stocks ecosystem.
Oh, here is Tycho at the speaker.
Just in time.
Hey, Tycho, feel free to do your usual intro.
No, no, go ahead. I think you were on a roll.
I think you were on a roll.
Yeah, exactly. Keep going.
I was saying that.
Welcome to our run
to this active issue number 74.
And as a reminder,
everything that is being said in this,
you see,
Twitter space is not financial advice,
but let's maybe get getting started
with a few introductions.
Maybe I can start
and then we have Tycho,
Roox and Jack.
So I'm the advisor at WTC.
I work, I say I handle marketing operation
for Stacking the ONS desk.
And I also actively create content about Stacks
and Bitcoin DeFi.
So make sure to check my Twitter account
if you enjoy these topics.
And I will keep it short.
So I will let Tycho start this intro.
Yeah. Welcome everyone. and i will keep it short so i will let taiko start this intro yeah welcome everyone 74 the stacks defi show and uh on on the way to 100 but uh but yeah exciting times i guess the voting for
sip 31 closed so um but yeah i'll do a quick intro and then hand it off to to others and then we can
we can really get started but yeah i'm I'm Tycho, co-founder of Zest Protocol,
the largest DeFi protocol on Stacks,
where you can borrow against your STX Stacks,
against your BTC, most importantly.
And yeah, very excited to talk more about that,
also contributing to Stacks itself and stacking it out together with the advisor
and yeah I guess
handing it over to Rubes
and then feel free to hand it over
to Jack and other people who I might not
see due to
excess, sometimes small bugginess
but Rubes go for it
Yeah hey guys thanks for having me again
to Stacks DeFi Show 74, looking forward
to it, I'm Rubes for those that don't know me I'm the co-founder of LeoCoin on Stax and also stxtools.io, which is an analytics platform on Stax and one of the most well-used daily apps as well. And I'll pass it over to Jack.
Hey, GM everybody. Always a pleasure to be here. Stax DeFi Show number 74. I'm Jack.
I am a co-founder of the Roo community here on Stax and also a Hermetica affiliate,
Bitcoin's first Bitcoin-backed stable, USDH. Guys, I don't know if you've looked today,
19% APY on your stables via USDH right now.
30-day average over 10%.
It's bullish.
It's a bullish time of year, guys.
Looking forward to this.
Yeah.
Diego, how about you go next, brother?
Morning, guys.
Good morning, everyone.
Jack, Rick.
Who else do we have?
The advisor.
Stacking down Rubes.Dial, Rubes.
Shout out Rubes, good job on the liquidity.
Jack, Zas, Tyco, everybody.
Yeah, I'm Diego, co-founder of Bitflow,
backsegregator, DeFi protocol on Stacks.
We are powering many of the apps in swaps the liquidity infrastructure across many
of the defy apps including this call and we continue on making waves the flow has been
number one in transactions last seven days last 30 days active users as well
Last seven days, last 30 days, active users as well.
We see an increase in demand from Stacks as well.
There's a lot of opportunity for Stacks and tokens itself.
Bitcoin all-time high.
Lots to be happy about.
Usually summer is kind of dead, but this is definitely a Biflo summer or Bitcoin summer.
So happy to be here.
Amazing.
Is that everyone?
Maybe just a quick checker sometimes.
There's more people out there.
I think, yes.
I think, yes.
Cool.
I see some great people in the audience maybe who can invite up later.
Like Hero Gamer, Brandon, you know, updates on the SIP, Zeli, all these things.
Also crazy. I see, like, I only see cats.
There are only cats here.
Everyone is rocking a Leo PFP.
Maybe a quick update from you, Rubes,
how that's going, growing the Leo army on stacks.
Yeah, the cat army is real.
It's crazy to see so many LeoCat PFPs.
I was trying to actually put together how many there is,
and I think I got up to almost 200 that I actively followed
that had LeoCat PFPs, which is pretty cool.
Actually, stats-wise, for the LeoCat collection,
we have the highest number of owners for a PFP collection on Stax.
We have 3,300 owners, I think, around that number.
It's the highest amount of owners for a collection,
which is cool.
We also passed Megapont
in terms of number of secondary sales as well.
So I think we're up to like 3,400 secondary sales now,
which is the third highest on Stax,
only behind, I think it's the StaxPunks collection,
and I think it's Wasteland Apes, I think, are the highest with about 5,000.
So still a little way off to get to number one for secondary sales,
but yeah, all Stats are looking good.
I think we're up like 4x from what it was,
which for NFT doesn't sound a huge amount for like mean coins but for for nfts
and in a very very quiet period for them that's that's some really good stats i mean we've done
like almost 9 000 stacks volume in the past week um we're number one for bitcoin and stacks
collections on gamma for volume in the past 30 days uh they also put a feature out about us on
the explore page as well so that's that's currently
up which is cool but yeah the the leo cats are looking pretty strong at the moment along with
uh obviously the leo token as well um we've got diego from bitflow here um the bitflow pool opened
just under two weeks ago um and i think it's at 160 or 170k locked in the LP now, which is looking really, really good.
People who are LPing and staking that LP are currently earning 91% APY for this two-week period.
I was just speaking to the guys actually in the Telegram DMs as well.
We're going to be cooking up another 30 days of a million Leo each day for those stakers as well,
which at the moment is about $320, $330.
So yeah, those stakers are going to be eating well for the next month at least,
and we'll be looking to continue past that period as well.
Yeah, I mean, amazing.
Maybe, Diego, any comments on that?
I think Leo is one of the top volume pairs right now on Bit4?
I think it's the top pair.
I'm looking at it now.
Like Rubes just said, we also did zero trading fees for the first,
what was it, two weeks, Rubes?
Yeah, yeah, two weeks.
And now we're going to start start going up but that is also what
drives organic yield but it is it is the top pool right now it's probably the
uh one two three four five it's a top six pool in general general so we have uh stacks usdc
sbtc and stacks stacks and st stacks then you got usdc and usdh usda usdc and then you have
sbtc and pbtc and then leo so leo on 170k right now with that juicy 91 91 percent if you want
not a financial advice but meow nice nice nice nice yeah i think uh i mean i'm also thank you very much rubs for the
for the leo cat you shared with me and i'm uh proud i'll be the proud owner and i'll
diamond hand it i have a lot more as well so i'm very happy hoarder of of maybe six or seven NFTs. Not the biggest NFT guy, I have to say, but I'm very happy.
That was a very nice Leo.
But yeah, very glad you got it.
And I saw the Leo community welcomed you a lot as well.
I saw a huge amount of activity around the post as well, which is good to see.
Yeah, amazing.
Amazing, amazing stuff but
maybe just as a quick note
I'm not co-host right now but maybe
the advisor if you see any builders
who want to speak or something feel free to just
move them in
move them in
I feel like
we can invite you or a gamer
maybe
just the betas yeah we should definitely do that maybe we should do some I feel like we can invite your gamer. Oh, yeah. That's right. I mean, maybe talk about the SIP just a bit.
Yeah, we should definitely do that.
Maybe we should do some quick updates as well
on what happened this week.
I mean, Diego, you're already kind of getting started
on what's been happening on Bitflow.
But maybe we should start there, and then we
just do a quick round of all the amazing protocols
that we have. Yeah, I think we definitely are having a meme summer on Stacks. I think
all it takes is that flip of a switch that we are independent of all the other meme stuff
that's happening on another chain. It's good to see Leo taking the lead
because it is driving a lot of attention
and we are in an attention economy.
It's driving a lot of attention to memes again on Stacks in general.
So this drips down to all the other pools.
We also relaunched the Bob emissions,
building a Bitcoin by Jake has also a really high APY, I think 91%. And we are launching World Peace. I think Flat Earth is also coming. We got Shark launched last week. We got Nasty, Flat Earth is also coming and a few others. So it just shows like, you know, how valuable and how strong the community is.
Right now we are, it is summer.
So we are heads down building and trying to make everything better.
We have a lot of UX stuff on the front end, just making it easy for users to understand what's happening.
Dialogues, toast, pop-ups,
notifications, that type of stuff.
The transactions are happening super fast on stacks, sub five seconds.
By the time you click on the explore link, the transaction is done, right?
So we have to follow up on that.
We are beefing up our database to show those updates and those
transactions, also bringing in transaction history. Not everyone can read the Explorer,
so it's kind of, you know, not for everybody. And we got to make it easy for a regular user that is
not, you know, navigating the Explorer every day, just understanding what the transactions are, where it's going. So we got a lot of small incremental changes that will stack up over the course of this month, including new wallet integrations that allows users to come in with just native Bitcoin and start, you know, maybe DCA into any of these tokens or just participating in the pools as well.
into any of these tokens or just participating in the pools as well.
We also are going to, we are sort of, I think Stacks has done a good job in attracting international
users or use-based in general, Nigeria, South Korea is obvious, but we're also seeing a
lot of demand for Brazil and South America in general uh so we
are sponsoring the first dog summit which is basically a Bitcoin summit to be honest it's
going to be held in Sao Paulo first week of August there's going to be some awesome speakers
um and this is a or a community organized event uh by the dog holders and uh Bitcoin and they
just want to learn more about L1 they want to learn more. And they just want to learn more about L1.
They want to learn more about L2. They want to learn more about DeFi.
And Brazil is the second largest market in America for anything and everything that you
can think of in terms of commerce or DeFi. So it's a big opportunity. We are translating a
bunch of the content to Portuguese. I am preparing a keynote
as well, but there's going to be tutorials, workshops in Portuguese, one-on-one, walking
through and onboarding these users. I think it's a big opportunity where, for example, in Nigeria,
users are okay with English. Where in Brazil, it's a little bit different. So definitely excited for that. I know Stacks and Xverse is also sponsoring.
So a big opportunity there to like onboard
and just educate more users.
You know, it's in our backyard.
There's a lot to be done and shared with them as well.
Yeah, I think that's what I can think on for now.
Yeah. Amazing. Amazing. Amazing. Great updates there.
I see there has been the Nansen announcement an hour ago.
Do you know more about this, the advisor?
Yeah.
First of all, for those of you that don't know about nansen nansen is probably
i mean one of the leading uh on channel analytics platform in crypto so like usually it enables
users to check which smart contracts are getting boss interactions which tech coins are getting
bought sold by a smart investor so basically anything you want to analyze on chain uh nothing is the platform to
do that and they're now also going to integrate stacks which means that from now on you'll be able
to monitor say transactions happening on stacks let's see maybe who is buying who is selling
certain tokens maybe exchanges and i think this is really important because people maybe in the ecosystem
have always looked for advanced analytics platforms.
And we have some really nice ones.
But Nansen really is like the top tier in the game.
And I also think it reinforced this trend of, you know, we had WarMall.
We had a few campaigns to bring new users, and now we have Nansen.
So we see, let's say, the roadmap playing out on like more integration of top tier protocols and projects in crypto. That's great. I mean, we'll see a lot more of these announcements,
but having Nansen is very bullish,
very bullish indeed for all of us.
And, yeah, I mean, Jack, tell us more. So the APY on USDH is through the roof.
Tell us more why that is.
I mean, I know the answer,
but I think this is a good thing to dive into for the audience.
Yeah, so the way that the yield works on USCH, look, if you're new here, you always want to know where the yield comes from, right?
So when you're talking about a stablecoin that has built-in yield, you really want to know how it happens.
And the yield in USCH's case comes from the open
market, from the perpetual futures. When you have a position in a perpetual futures markets,
whether you're short or long, every eight hours, there's going to be the opportunity for longs to
have to pay shorts or shorts to have to pay longs. So Hermetica's yield is generated when longs have to pay shorts.
And so this comes from funding.
And in case you've been sleeping under a rock for the past few days,
Bitcoin has reached all-time highs.
And you've had days here where it broke the all-time high like three times in one day.
So people are obviously very heavily invested in
Bitcoin futures. And this helps juice up the yield that USDH stakers get just by holding a Bitcoin
back dollar. So absolutely massive. And I don't know if you all noticed, but Hermetica itself is very interested in how users of the platform, what they're thinking, what kind of feedback they have to offer, very responsive in dealing with building out this whole system.
And I don't know if you've noticed, but Jacob, the CEO of Hermetica, put out a poll the other day asking the community what you would like to see and gave
several different options. One of those options being a USDH with a Bitcoin yield mechanism.
You know, right now, when you stake USDH, you get USDH as your yield, right? So I don't know maybe be on the lookout because usdh with a bitcoin payout has
um has won the poll so um i'd be paying attention to that this this is pretty cool
amazing and and and then you know also pinned the post here from the the sort of you know the
strategy right like there's a very high yielding strategy on stacks right now
by borrowing stables against staked stacks
or against SBTC and swapping them into USDH
and earning the yield.
Maybe you want to share a few words about that too.
I mean, I can do it too.
Yeah, and I mean, it's great because right now,
we're especially seeing this idea around Bitcoin DeFi or BTCFi,
however you want to say it, everyone's talking about it. And the awesome things about the Stacks
ecosystem, the Stacks ecosystem has been building out this capability well before other people had
even thought about it, well before it became a meta. And so the reality is you already have DeFi on Bitcoin that works today on Stacks.
A lot of people are still building towards this end.
And because of protocols like StackingDow and Zest,
protocols like stacking DAO and Zest, you have just so many opportunities to safely
earn yield on real yield on your assets. So, you know, just like the most basic
loop you can do is by, you know, stacking some STX, you get your stacked STX liquid token, you deposit that at Zest, and you can borrow USDH against it and then go stake that USDH in Hermetica.
And you've just increased your yield exponentially just from holding STX.
exponentially just from just from holding STX and that's just one there's every day you seem to see
And that's just one.
more posts from people who were who were discovering more strategies to to earn better
and better yield here and um that say all that to say this like that's what bitcoin defy is
it already exists it's here we're participating in it how much how much Bitcoin
liquidity or are you up to and zest right now last time I looked it was it was something crazy like
almost like 70 million dollars yeah a bit over a mpc so it's a good it's a good amount and um and yeah
borrowing ticking ticking up but there's still a lot of a lot of space left there for for some
very profitable profitable yield strategies so yeah that's exciting because like also there the
this is the thing i've been most to the left, right? Like the advisor, you've been tracking kind of the debt created, you know, against state
stacks and state stacks BTC.
I know we talked a lot about this and that's also like a very good marker of health, right?
For the ecosystem, like how much is being borrowed against STX or, you know, STX-based
assets.
Of course, you know, stacks is all about BTC, but STX utilization is, of course, equally as important.
Any thoughts on that?
Yeah, I feel like the easiest way to describe
what is happening with stacking all STs
is that they're becoming, as I said,
the pristine collateral of Stacks.
So obviously, BTC the pristine collateral of stocks. So obviously BTC is like pristine collateral,
but the stock in all STs by powering 5 million worth
of borrowing liquidity between Arcade Eco and Zest
were effectively becoming, let's say,
pristine collateral of stocks.
Also because what they enable is, for example,
to use STX while running yield to borrow.
So basically, for example, if you have STX,
you could borrow against it and use the SBTC yield
that you get every day to repay the loan.
So it has definitely like big advantages
It has definitely like big advantages to use stacking DAO alesthesus collateral on stocks.
to use stacking of LSTs as collateral on stocks.
And I feel like also the fact that stacking DAO last cycle didn't see again confluence,
it's the further proof that people are leaning towards using the alesthesus collateral as
the asset for activity on stocks.
Very exciting stuff.
And then, yeah, there's still some space right on the caps, too.
So Borong and Stake Stacks and Stake Stacks PTC
is still possible.
So very. Yeah, indeed. Stacks and StakeStacks BTC is still possible.
Yeah, indeed.
And more coming with SIP31.
I think we should talk also a bit about this.
We have HeroGamer here if you're here too,
but very curious to hear about the progress.
What do you want to say, the advisor?
Yeah, maybe talking about SIP 31, like StackingDAO, the voters on StackingDAO, like 99.8% voted for the SIP, which I think it was something for Friday.
I think you're going to talk about the SIP 31.
Do you know how many addresses StackingDow voted?
How many accounts?
I would need to ask the devs to check.
So I don't know the exact amount right now.
Yeah, so on the scx.eco front, yeah, I'm pretty sure.
We're just checking the votes right now.
But yeah, pretty sure it's passed.
Overwhelming pass, like over 90-something percent.
So yeah, the voting has closed.
And we're just getting the devs to cross-check to make sure the votes are accurate, you know, to the point of every single STX.
And pretty sure Mitchell and the team will be publishing the results sometime soon.
So yeah, good to hear StackingDAO is also supportive of the SIP.
StackingDAO users love DeFi.
Yeah, I was looking back to see how much StackingDAO vote had in the Nakamoto period.
And I think back then you had like 15 million voting power, but now you guys have over 80 million, right?
Yeah, it's an all-time high in STX CBL and stacking down.
So it's just every day a new all-time high.
And yeah, I expect this to grow probably too, right? With, with CIP 31. I mean,
that's what it's, what it's for is like, people will be, you know, using looping strategies and
sort of generally the on-chain ecosystem becomes more liquid and that, you know, becomes a big,
a big driver, right? For, for liquid staking demand. So yeah, I think some people almost don't even have STX. They might only have STX now, like majority of their holdings.
I mean, it makes sense, right? I was thinking of maybe writing an article about this or a bit more of a longer piece of research. But if you mint state stacks, right, or state stacks BTC, you get yield like today, right, instantly.
You don't have to wait until the start of the next cycle
to start receiving your yields.
You get it like instantly today.
And, you know, if you have some stacks where you buy some,
maybe sometimes you sell some or you move it somewhere,
like this is like quite nice.
Because if you think about it, right,
like let's say you you stack natively which
obviously you know has no fees right at least on stacking down um but say you stack natively
and you you keep that for like two months and then you unstack again then you've probably lost like
you know 20 25 percent of of the yield of those two months, right? Because at some point you were like for two weeks,
not earning anything, right?
And, but with the LSD, it's like, you know,
you just like mint it, you immediately start earning.
And when you sort of get out, you kind of get out
and then you stop earning, right?
And even if there's like this 10% fee, right?
That's on the LSDs on stacking now,
that's still like if you were stacking for like two, three months,
you know, that's less yield that you lose
than if you were native stacking and waiting for the cycle to start, right?
So native stacking actually makes a lot of sense
if you're like have SDX and you're planning to hold that
like for the, you know the next year or longer,
then this makes a lot of sense.
But if you want a bit of flexibility and stuff,
then the liquid stacking is more profitable in many ways.
I wonder if you are a true, true DGEN
and want to go complete liquid stake in Maxi
and just the super, super power user
and you want to maximize every cent, so to speak.
Because currently, they still have to keep
a little bit of STX in gas.
I wonder if there will be, in the future,
there will be a world where you can just convert everything into ST, STX and pay the gas.
You want to fully utilize every pence in liquid staking world.
Therefore, you would be able to pay the gas in ST, STX.
Yeah.
No, I think that's a strategy you can take right
you have to have enough enough gas just for one bitflow swap right so you can buy you can get
some swap some of your state stacks for uh for stx and then then you you can you can do transactions
again so no not not a bad idea not a bad idea at all. Yeah, so really good stuff.
So Hiragamer, what's ahead for the SIP?
So it's passed, you're tallying up the votes.
And what's going to happen now?
Yeah, I think Alex indicated last week on the call,
indicated last week on the call.
Basically, they'll have to organize the paperwork,
setting up the endowment structure via the Cayman Island way.
Therefore, I think just some setting up of the organization to do,
I believe the developers also need to implement
some of the minor technical details
so that the tokens can be minted, etc.
So I believe they are doing some of these work
over the next couple of months.
Yeah, so that's what I know. Yeah. doing some of these work over the next couple of months.
Yeah, so that's what I know.
Okay, so we can expect more.
There's also a town hall, I think, tomorrow, right?
So we can expect a bit more information, do you think?
I'm not sure about the town hall yeah I don't know
is that tomorrow
I think that's on Thursday isn't it
Thursday maybe
I have a hold in my calendar
for a town hall that is tomorrow
maybe that's more of a monthly
thing
but anyway there is a space is tomorrow guys Maybe that's more of a monthly thing.
But anyway, there is a space is tomorrow, guys.
I'm pretty sure Alex will be keeping us posted.
He's pretty good in making sure everybody's aware of the latest status. I think you also said about after the sip, he will let everybody know what's going to happen next
i think there might be even an article published regards to that so yeah just keep following the
stacks account and alex miller's account brilliant brilliant brilliant brilliant brilliant and that's
where um that's where we get all the juice from so amazing so. So yeah, watch this space. I mean, I heard that like probably we'll see some incentives starting to roll like in August.
So we're getting pretty close to that.
So very, very exciting.
We also have Brandon here who is diligently running probably the greatest DeFi campaign
in Stacks history.
So how's all of that going, Brandon?
Hey, hey, everybody.
Good morning.
Yeah, it's been going very well.
For those that don't know, Stacks has, yeah, had this campaign going on
Zeely for about almost three weeks now.
about almost three weeks now. We're in week three. And we actually just this morning crossed over
We're in week three.
100,000 quests that have been claimed. So demand is very strong. And yeah, things have been going
very well. Right now, we're currently in what we're calling season two, which is all focused on stable coins.
And specifically, we're very focused on both USDH and AEUSDC. And there's a lot of quests that are,
you know, associated with that, whether you're going on Zest and depositing, you know, some
AEUSDC on Zest and seeing what that experience is like and earning
a little yield there, deploying USDH and staking it on Hermetica, deploying AEUSDC on Granite to
earn some yield, swapping between AEUSDC and USDH on Bitflow. So it's really cool that we have so
many different DeFi apps that are all participating and
all helping to power this experience. And yeah, it's just been going very, very well so far.
I'm actually currently working on the distributions for the NFTs. For people that complete them,
you get free NFTs. There's over 50,000 STX in total that is going to be given out as part of this campaign.
So there's just, there's a lot that's being rewarded and a lot of people participating.
So yeah, we've been really happy with it so far.
Awesome. Awesome. Awesome. Awesome. That, yeah, I mean, I've seen like a lot of people like, or like a little, you know, in search of users kind of completing quests and things like that.
And just curious, Diego, maybe from your perspective too,
because swapping is a large part of the questing as well.
And I think you're probably the person who is,
together with Brandon, the most experienced with DeFi quests,
as is the advisor, I think.
I mean, you three are actually, you're all very experienced with it.
But curious what you've seen on the Bitflow side
as a result of the campaign.
Definitely, I think what we're monitoring right now
is net new wallets, you know,
trying to put all the numbers together and figure out,
okay, how many new users are we onboarding on chain?
I think for us, we always expect summer to be a little bit low, but we are seeing, you know, spikes and increases in general swap activity.
We have been on Zeely for over a year now, but now it's the first time that we can actually do on chain activity.
Zeely for over a year now, but it's now it's the first time that we can actually do on-chain activity.
So we are seeing not only, you know, a growth in general swaps, but also in community engagement.
You know, people are coming back to Discord and, you know, participating and trying to find answers and questions.
And we are seeing a demand from our support desk as well.
We have a knowledge base, we have a ticket.
So whenever we see those increase,
it means like there's new users in town.
They're trying to find answers.
They're trying to find easy ways to do hard things.
And it also pushes us as a DeFi protocol
to simplify a lot of things, right?
People are like, okay, I'm looking at the pools pools page how do i know which one i'm getting emissions which one i'm not which ones is complete
so we created a whole knowledge base around that right so based on on those that initial feedback
we are sensing that there's a lot of new users and all it takes is you know uh getting that wallet
doing a swap and seeing how easy it is. And then from that point on,
we should be seeing what we call LTV, lifetime value of that user and how often they come back
to these protocols. But it is a, I consider Zilli a top of the pyramid type of campaign.
consider Zillia top of the pyramid type of campaign.
It is awareness, but it's awareness with some conversions.
But most important is we're getting thousands of people
hearing about Stacks, testing out Stacks,
installing Stacks compatible wallets,
visiting these pages.
So we are seeing the numbers picking up. It's hard to benchmark to last summer
or to the previous month because usually Q1 and Q2 are usually, you know, there's more activity.
But I think that's the reason we're seeing ongoing activity on chain,
even though we're in the middle of a technical summer break.
Yeah, I can just share a couple of numbers.
Just looking at just this past week.
So we're currently in season two for stable coins that started last Wednesday.
So we're almost one weekend.
Bitflow has actually two quests.
And the way that these quests work is they're actually most of them are
redeemable daily so you can come back and perform the same action every day um there's two quests
for bitflow one is to swap to ae usdc one is to swap to us and we have nearly 6 000 claims uh
successful claims of just two quests so So hopefully my connection's okay.
I see there's a connection issue with Twitter.
Perfect.
But yeah, so just Bitflow alone, right?
We're seeing almost 6,000 successful swaps
just in the past six days since the sprint opened.
So pretty incredible stuff.
And yeah, certainly, you know, when we're
looking at how the quests are designed, we are trying to optimize for, you know, actual growth,
right? Not just, oh, I created a wallet, I have moved some coins in, claimed the quest,
moved those same coins to another wallet, claimed the quest from the other wallet, right? We're looking at actual growth of TVL, actual, you know, new users,
and trying to optimize those, the designs of the quest in order to satisfy that.
I'll use Zest, you know, as an example, right?
They, the Zest quests require people to hold an asset in their wallet for, it can be 24 hours or three days or five days or however long.
So there's a holder requirement there.
So you have to actively hold it in Zest in order to be able to claim that quest.
So that's just one example of how we're sort of optimizing for growing actual TVL during the campaign.
So it's not just the same tokens that are being swapped around from wallet to wallet.
Yeah, got to have the civil resistance.
I mean, it's very important to get all these things in crypto.
The rewards are going to the right people,
the people who've deserved it most.
Yeah, really great stuff.
And GPSC, Peace Love Music, how's it going?
What's up, Tycho?
I hope everybody's having a very blessed start to their day.
Lots of bullish stuff going on in our ecosystem.
We just got a Nansen partnership with Staxx.
That's brand new.
So just kind of deep diving into what Nansen provides with their AI integration.
Yeah, I think we're going to deep dive this in the screen share today.
Amazing. Amazing. yeah i think we're gonna we're gonna deep dive this in the screen share today amazing amazing any any highlights from the from the deorganized morning and nightly shows that you've been uh you've been you've been having i think isn't
munib coming on one as well soon or was that today today is that another one is that leather
lounge where he was dude it would be so cool to have
Munib on the morning or night
show. So if we could make that happen,
we would love to get to talk to him.
But I think he was on
Leather Lounge.
Yeah, he was on Leather Lounge
with Longstreet a couple weeks ago.
Shout out to Longstreet.
That was actually his final Leather Lounge,
I believe.
But yeah, definitely worth a listen.
And listen to the end as well.
Longstreet had a really,
just a really nice little speech
that he gave at the end,
which was great.
And he's not leaving the ecosystem,
so it wasn't like a goodbye.
But yeah, shout out to Sean.
Yeah, but as far as de-organized, yeah, like big shout out to Sean. And yes as far as deorganized yeah like big shout out to sean and yes his his
message at the end was was phenomenal um definitely go back and listen to that it's a great episode
but on deorganized last night we had a crypto dude in boostex um he he was talking a little
bit about stacks pay and what he's doing with creating storefronts and POS system,
kind of bringing everything that he's been building full circle.
It's kind of like the final piece of the puzzle.
And I said that it's going to make freedom go parabolic, freedom to transact.
And I really love it.
I think it's worth going back and giving it a lot.
Fantastic. Fantastic.
Fantastic.
No, amazing.
Amazing.
So things are popping off and things are sort of also very well aligned, right?
I mean, Bitcoin performing very well over the past few days. And then I think also one thing that will be a very inevitable catalyst for stacks is outside of everything we talked about, outside of the SIP, outside of bringing more capital on chain, putting stacks on the path towards a billion TVL.
billion TVL right like outside of all of those things I think one thing that's also very
interesting is that um um you know you see this rise now of like well there's the Ethereum
narrative but also especially all these Ethereum treasury companies right so like Wall Street is
like very excited about Ethereum right they've had the the IPO of Circle everyone is sort of
excited about programmability about DeFi Then there are all these treasury companies, right?
The Ethereum treasury companies that are acquiring a lot of ETH.
And Wall Street is kind of like, you know, discovering this thing of like,
well, there is like staking, you know, it's like the first time they hear about staking.
And then like, well, there is like DeFi and there's like Aave and lending, right?
I mean, Aave hit 50 billion TVL yesterday or the day before, right?
So that's a milestone.
It hasn't hit before.
And I think Aave right now is probably like, you know,
among the 40 largest sort of banks in the world, right?
Or if you would sort of put it in that list, it's like, it's up there.
So, yeah, so everyone is, you know,
Wall Street is all over staking, they're all over DeFi,
they're like, wow, this is exciting.
And before you know it,
like this Ethereum narrative can really catch on
and people will start asking these questions of like,
oh, actually, like, you know,
Michael Saylor, you have all this Bitcoin,
but like, where's the security budget going to come from?
Because Ethereum has a security budget.
But if Ethereum gathers a bit of base and a bit of steam,
then people will start asking these questions again.
And yeah, the answer is obviously the kind of stuff that we're building.
I'm not necessarily saying that the full answer to all these problems is stacks,
but it is the oldest, largest and most reputable community
really taking a stab at this Bitcoin programmability,
Bitcoin sustainability question.
So as that evolves and as this narrative,
ETH narrative is kind of, you know, going to expand and take hold,
then, you know, there are a lot of people with a lot more money
than all of us combined who will have very big problems.
And, you know, we've been working for the past years
to help solve those, right?
So, yeah, so that's kind of like a bit of a takeaway as well that i've had from the past you know the past the past week of
sort of seeing what's what's what's happening but um but yeah jack like feel free to just uh
talk over me if you have a burning uh you know something to interject with no it's we're we're
talking about so many amazing things here it's's easy to take it for granted, right?
But we already talked about the DeFi on Bitcoin, how we can solve these complex problems, how
long Stacks has been at work.
And something really cool happened this morning.
I had a call with a team that's looking to integrate into Stacks.
a team that's looking to integrate into Stacks. And they're very already integrated with the
greater Bitcoin, L2, and MetaProtocol ecosystems, right? And so I was asking them, I was like,
well, why Stacks? What's got your attention? And they're like, you're the only ones with a community. Like y'all have a real community.
That's the alpha that needs to be on every space, right? Because you can have all of the other things. You know, you can have the hype, you can have the budget. By the way, now that SIP 31 passes,
we're going to have the budget and the hype follows, but we've already got the product and we've got the community. And you've seen, you've seen so many airdrops in this space over
the years, so much money spent. I don't know what dollar amount you can assign to the value of the
Stacks community, but it's massive. And that was just very viscerally demonstrated to me this
morning. Um, you know, speaking to these people, like we've got the
community guys. So I'm not surprised that the Zeely campaign is doing amazing. I'm not surprised
that, you know, we're seeing growth when things are supposed to be slow. We were just ahead of
the narrative. We were just early. And now is the time where you really see all these things coalesce
and things are really going to happen in a big way.
So I was very excited about that, and I just wanted to share it
because we just got to keep doing what we're doing, guys.
We're winning.
Yeah, but if I may add on to that, Jack and Tycho,
I think when we start seeing LinkedIn talking about DeFi more and more often, right, it paints a very positive picture of where we're heading from two years ago.
And for those that are boomers that are still on LinkedIn.
I was going to ask, are you on LinkedIn, Diego?
I am.
I am.
I have an account, too.
I have an account, too.
I have to say I don't check it that much, but I should maybe do it more.
I'm starting to go back.
That's where the alpha is at.
Yeah, exactly.
I'm starting to go back for that reason.
I'm seeing like one thing that you actually use hashtags, which is makes it super easy for you to filter conversation around DeFi, blockchain and so forth.
But what we're seeing is, you know, there's a lot of thought leaders.
Like, for example, if, like, we all know LinkedIn is used for hiring, right?
So blockchain is the top hard skill in demand,
followed by cloud computing, by far, on LinkedIn.
So just that alone, right?
There's a lot of professionals there, and these are where companies are hiring.
And you're also seeing the likes of FedEx, Delta, U.S. Customs, you know? So just that alone, right? There's a lot of professionals there. And these were companies are hiring.
And you're also seeing the likes of FedEx, Delta, U.S. Customs, you know, these like institutions and corporations and government agencies that are, you know, looking for more information.
They're looking for more education.
They're looking for thought leadership.
They're participating in DeFi and crypto discussions more than ever.
And they're engaging in that community.
And I've been telling this to my team and everybody else that I speak to that we kind of sometimes needs to step away from our bubble because there's a lot happening.
And like you said, there's a demand for Bitcoin denominated markets and Bitcoin markets in general.
And I think they need to hear about stacks and they need to hear about what's happening.
You know, for example, the Kingdom of Emirates
just adopted crypto payments using Cardano blockchain.
Why did they do that, right?
There's also certification on blockchain counsel.
You know, why are there, you know,
councils like that that are certifying blockchain experts.
So there's a lot going on,
like outside of the Twitter bubble
that it's like very bullish
and very positive to the ecosystem.
And I think it's definitely worth a look.
And when you see that happening,
I think it's a really good example
of what's about to come.
There's definitely going to be a supply shock.
We talk about it every time. But there's definitely new people coming in. And these are,
you know, 35 to 45 year olds that, you know, now they got the green light to go ahead and invest,
to get treasury, to get Bitcoin in the books, to start earning yield. Mara, the mining company,
in the books to start earning yield. Mara, the mining company, acquired equity stake in 2Prime,
which is a fund that manages institutional investments. And they just did a 20 million
equity investment in 2Prime. This was like a LinkedIn post a few hours ago. And this is going
to be used to generate yield for Mara on Mara's behalf. Right.
So, yes, it's bullish. I think, you know, we're just beginning of that institutional adoption and it's going to be much, much bigger than what we expected.
Yeah, the amount of money coming in right now is the supply shock is about to be ridiculous right now. And really, I think the thing to pay attention to is be aware of the FOMO that's coming. And don't act rashly when things start getting crazy, because it's probably getting into silly season very soon.
Actually, shout out.
I think there is a town hall tomorrow at 11 a.m. Eastern time.
That's what I have on my calendar right next to the Zest town hall.
So there is a Stacks town hall scheduled at the same time.
So I don't know if we want to make sure that we...
Yeah, same here.
I think I'll have to be at the Stacks town hall,
but I think we'll split up split forces.
I think the advisor will take the Zest town hall and we'll run we'll run with it i didn't realize that there was a conflict because i like
to jump into that that zest town hall too it's always a great great vibe there but i'm also
going to have to go to the stacks town hall oh i hear you i hear you yeah maybe you can move it
if it's yeah it's also a good one. Yeah.
What's it?
I think if I look at the invite list, there's a lot of people.
So I also want to make a suggestion, a community-wide suggestion.
GP and I were talking about stacking stacks and comparing it to staking Ethereum this morning. And I started to just absorb the calling it stacking.
So I think we should just refer to just stacking on Ethereum from now on
and subtly just manipulate the consciousness there.
Subliminal.
Well, but staking on stacks is stacking because you're stacking stats, right?
With stake stacks PTC and native staking, of course.
Otherwise, you're still stacking STX.
Yeah.
Oh, it's a nice one.
It's a nice one.
I think Mitchell came up with that.
So yeah.
But amazing.
We have a lot of people here.
And maybe we want to slowly move to the outros
before we're uh we're we're
at the hour but um maybe gpp's love music you uh you have it you have something going on right
after this maybe you guys want to cookie go first and then we just you know pass it on to the next
person well there's a lot going on in the ecosystem today. I'll run down what I know off the top of my head.
We have the Hermetica Hangout coming up.
We got our on Stacks at 3.
Dave's All Things Crypto is at 5.30.
The GPSC Nightly Show is at 7 p.m. There's all sorts of stuff happening.
And guys, make sure you check out the Stacks.org
slash use Stacks contest page that has been updated we've got that
sorted out every couple of days there's an opportunity to win like 600 stacks by participating
and using some of the amazing projects building on stacks so get out there and use stacks
yeah yeah uh definitely check out the use stacksacks campaign. Guys, it's very based. There's plenty of ways that we can earn within our ecosystem, including these different social campaigns. I love seeing the community get activated and rewarded for being mobilized.
activity schedule in both the stacking down and zest discords we have the zest meme point sprint
big shout out to all the sponsors the community founders that are sponsoring the zest meme point
sprint we got rude leo flat peggy nasty and st stx all within the zest community chest that you
could be uh you know participating in these based activities to you know pack your bags right so
um get into the zest
discord get into the stacking down discord we're gonna have a screen share around 1pm et and uh
you know we'll deep dive the uh whole ecosystem and take a look at what's going on and you know
we're gonna have a content creation workshop going on too so uh get into the discords guys
get mobilized get activated let's have some fun i almost forgot learn ta with landy at 1 p.m too lots going on
awesome hopping from from one to the next but uh HeroGamer, Rube, Stiego, Jack,
any big last words where you want to draw people after this?
Yeah, keep watching for the Stacks Foundation handle for the voting results.
And if you're not in stacks discord actually there's a contributors
hub um activities going on where you can earn small bounties there as well so do get into stack
discord as well if you're not yeah i think uh stay stay tuned Make sure you follow all of these guys up here and many of the guests that are following this show as well.
Don't forget your Leo farming reward.
We also got Bob building on Bitcoin farming rewards up.
We got ST stacks and a couple others.
So make sure you guys are farming those yields.
You guys are farming those yields.
We are working hard, listening to the feedback,
improving a lot of the app front-end user experience as well,
making it easy for DeFi users to onboard DeFi users
so they can understand what they're doing on DeFi.
Lots to come in this quarter as well.
Flex pools, concentrated liquidity,
new L1 experience as well with Bitcoin assets and native Bitcoin wallets, DCA. We're also combining the earns in the pool, making it easy for people to automate a bunch of DeFi liquidity provision.
So, yeah, stay tuned.
Follow Biflo.
Join the Discord.
Join the conversations.
We love the feedback.
And we're building based on the community feedback.
So it's very, very important to us.
And looking forward to next week.
Yeah, you know, here's the deal.
We're sitting here talking about all these spaces and all these events and everything, and it's packed daily.
And there was a time, not all that long ago, even though a year in crypto feels like 10 in the real world, where you might have two stack spaces a week.
You didn't have Zest. You didn't have Bitflow. These things were still ideas. These things were still
being worked on. And here we are today with all of this amazing tech. The community has grown
organically around it. We're winning. Okay. So pay attention. Now's the time. This is what you've
been waiting for. And make sure to catch Deorganize in the morning and the evening.
Let's go, guys.
Amazing.
Did we say, Rupes, any big last takeaways?
Maybe just myself.
I think JP already covered it, saying that. Any big last takeaways? Maybe just myself.
I feel like JP already covered it,
saying that make sure to join Stacking.dow and Zest Discord.
He's engaging with the community.
There's many activities for Stacks community.
And especially now with all these integrations,
I expect more people to join the ecosystem.
And Stacking.dow and Zest Discord can be a home for them to expand more people to join the ecosystem and Stacking.dlss discord can be
a home for them to know more people and engage with the ecosystem.
And make sure also to follow Stacking.dlss on Twitter because there's a lot of things that
the projects are cooking and make sure to stay updated.
Yeah, and then from the Leo side and the Stacks tool side,
definitely check out the Bitflow LP at the moment.
The 90% APY is looking,
you know, it's been pretty consistently
between sort of 50% and 100% now
for the last two weeks.
We're launching the next phase,
which is going to be another month-long campaign there with bit with the guys at bitflow um there will be some more trading
incentives to go to the lb stakers from from the bitflow side they've been good there with a
special promo as well um it'll be a million leo per day again so just over 300 and 330 dollars a
day for the for the stakers which is you know a real big juicy reward for people um the leo cat
nfts go go ahead and grab one join the movement um we have the leo coin art space tomorrow um and
i think the the actual open call um art submissions for that is going to be next week so definitely
give that handle a follow as well loads and loads of stuff on loads of bounties on we had meow
mondays yesterday we had a bunch of giveaways for for holders and yeah it's uh there's actually just so much going on i can't even
remember it all but it's there's lots going on check it out follow me follow leo coin and uh
yeah i enjoyed the conversation today guys very bullish
yeah that's right that's right and um you know squeeze those yields. Loop up your SDX.
It's a very interesting strategy.
And then, of course, the cheap borrowing of AUSDC
and the high USDH yields.
Yeah, that's kind of like what it's about this week in StaxDeFi.
So, yeah, take a look at that.
Take a look at all the great applications that are here.
And then we're going to be back next week, 10 a.m. Eastern Time, Tuesday.
Same time, same place for 75.
Yeah, with more news and all the latest from the ecosystem.
But yeah, until then, it was great to talk.
And yeah, see you guys next week or in all the other spaces
that we're having today tomorrow and the day after tomorrow and the day after that and that and that
so uh yeah fantastic speak soon .
