StackingDAO Completes Allocation of 150 BTC Staking Pool

The first staking pool of Bitcoin (BTC) for StackingDAO has been fully allocated with 150 BTC. This signifies the initial demand confirmation for the Stacks (STX) based Genesis Bond. The overall PoX-5 Bitcoin staking program aims to accommodate approximately 3000 BTC, with the StackingDAO pool accounting for about 5% of this total. Other participating pools, such as Xverse and Fast Pool, still have room for new participants. StackingDAO has set the initial pool capacity for stBTC at 150 BTC, with stBTC representing a liquid staking token that indicates a Bitcoin staking position. Users can deposit sBTC or BTC and receive stBTC in return. The Genesis Bond does not transfer BTC to a bridge, and Stacks Labs has stated that BTC will be locked in the time lock of Bitcoin Layer 1, with 5% of the bonded BTC value being locked in STX. Rewards will come from the BTC paid by Stacks miners for block generation. The Genesis Bond is scheduled to start on September 10 at Bitcoin block 966350, with the registration deadline on September 9 and the first reward expected on September 17. The yield is set at an initial target of 3% per annum based on BTC.

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