Today, Blockdaemon announces integration with the Stacks network as a Signer (or “Stacker”), enabling Bitcoin L2 rewards for institutions holding STX and looking to secure the Stacks network. In addition, Blockdaemon is also a newly committed Signer, joining an open and decentralized Signer set.
Blockdaemon now offers two key services: a Blockdaemon validator for STX holders to delegate to and, for those seeking a personalized solution, private white-label validators tailored to meet individual needs.
With the anticipated Nakamoto Release and sBTC, Stacks is set to enhance transaction speeds and introduce transactions backed by 100% of Bitcoin's finality. This evolution positions Bitcoin as a fully programmable, productive asset, opening up new possibilities for use cases across the digital and financial landscapes.
With this support, Blockdaemon is committed to supporting the long term success of Stacks. This reinforces our commitment to further bolstering the Bitcoin economy, bringing our robust infrastructure to the leading Bitcoin L2 ecosystem.
If you’re interested in stacking STX, contact us today.
Key Features of Stacking
Stacking is the process of locking STX tokens to participate in the Stacks network's security, generating Bitcoin rewards in return. Blockdaemon now offers enterprise-grade Stacking for institutional clients.
- Dynamic Minimum Stacking Amount:
- The minimum amount of STX required for Stacking is dynamic.
- A useful resource for estimating the minimum STX needed is stacking.club.
- Token Lockup Period:
- Tokens are locked for approximately 2 weeks, with slight variations due to the Bitcoin network's confirmation time variances.
- Stackers must confirm their intention to lock STX before the prepare phase of the next reward cycle, which is the last 100 Bitcoin blocks of the ongoing reward phase.
- No Slashing Mechanism:
- Unlike staking mechanisms on other blockchains, Stacking in the Stacks network does not have a slashing mechanism. This means Stackers do not risk losing their stacked STX.
- Rewards:
- Rewards for Stacking are paid out in BTC, not STX.
- The original STX tokens are unlocked at the end of the cycle without any deduction for participation.
- Generating additional STX is possible through means separate from the Stacking process.
Blockdaemon’s Role in the Stacks Network
Blockdaemon enters the Stacks network with industry-leading expertise and credentials. Since 2017, we have set the benchmark in blockchain infrastructure. We are ISO-27001 certified, a testament to our commitment to security. With over 70 global points of presence and round-the-clock support, we ensure an institutional-grade experience.
"Blockdaemon is proud to be named as one of Stacks' Foundation newest Signers. Together, we aim to drive innovation within the Bitcoin L2 category, by leveraging on our strong infrastructure as well as the years of experience we have in the space. This announcement underscores our shared dedication to advancing Bitcoin ecosystem's potential and solidifies our companies as key contributors to its ongoing development." - Gaetan Thabot, Head of Protocol and Foundation Partnerships at Blockdaemon.
“Today’s announcement is a significant step toward our mission of bringing Bitcoin to a billion people around the world in a fast, cost-efficient, and secure way.” says Andre Serrano, sBTC Resident at The Stacks Foundation. “The addition of these Signers demonstrates a commitment to fostering greater decentralization of the Stacks network. Together, we are poised to unlock exciting new use cases for Bitcoin.”
Blockdaemon’s role underscores our commitment to a decentralized future, rooted in Bitcoin's original vision.
Get Started
Blockdaemon aligns with the Stacks network in a shared vision: to advance the Bitcoin ecosystem. Together, we strive to empower developers, institutions, and enhance Bitcoin's functionality.
To get started Stacking, or to learn more about Blockdaemon’s services, contact the Blockdaemon team today.
About Stacks
Stacks is a Bitcoin L2 that enables smart contracts and decentralized applications to use Bitcoin as a secure base layer. The 2024 Nakamoto and sBTC releases will bring faster speeds and transactions backed by 100% Bitcoin finality. Stacks is the current leading Bitcoin L2 by developer traction and market cap and is poised to help unlock Bitcoin and its $500B in passive capital as a fully programmable, productive asset. The Stacks (STX) token, used as gas on the L2, was the first to undergo an SEC-qualified sale in the United States. The project explicitly decentralized with the mainnet launch in 2021. In the Stacks ecosystem, there are currently 30+ contributing entities including a non-profit Stacks Foundation, a developer tooling company Hiro, Xverse, Trust Machines, Mechanism, Bitcoin L2 Labs, ALEX, Bitcoin Frontier Fund, and more.
About Blockdaemon
Blockdaemon: Blockdaemon powers the blockchain economy with its suite of industry-leading infrastructure solutions. Blockdaemon was founded in 2017 and has become a globally established, single integration partner for accessing premier blockchain networks. Blockdaemon provides integrated business solutions to exchanges, custodians, crypto platforms, financial institutions, and developers using our end-to-end suite of blockchain tools, including dedicated nodes, APIs, staking, liquid staking, MPC tech, and more.
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