1/ 🧵👇Ultimate thread for @Stacks - The Uprising Bitcoin Layer
The Bitcoin narrative is here and bigger than ever; if you've been following $STX from the previous weeks, you're probably new and have found your way from #Ordinals.
2/ I've seen a lot of wrong info from various influencers, This thread is your DYOR, and I'll sum up why it can be one of the most significant projects for 2023. DISCLAIMER: not a financial advice, and I have exposure to some of the projects mentioned.
3/ I've been monitoring $STX closely since being heavily involved in the ecosystem for more than four years at its Foundation. Let's start with a bit of history.
4/ Stacks wasn't built on quicksand, and it has a long-standing history; in crypto, there are a lot of vaporware projects. Stacks origins date back to 2013, with @muneeb and @ryaneshea as they talk about using Bitcoin as the foundational layer.
5/ Fast forward, Blockstack FKA $STX, BNS & the virtual chain design were born. Shoutout to the stellar engineers who brought this to fruition. Big S/O to coin-slayer @JudeCNelson, @AaronBlankstein, @heynky, @YukanL et. al
cc: @bns_dao
6/ Stacks always followed the long and heavy route since it went for the first reg-A token sale approved by the SEC. Now, we see how important this is, with SEC cracking one thing after another.
7/ FYI, Stacks is backed by top-tier people from your favourite thought leader @naval, @tyler, to thesis-driven VCs such as @usv, and even @Harvard Endowment and Placeholder VC with @cburniske
8/ We realise now how vital it is to have a legitimate backer since most web 3 VCs aren't thesis-driven and played a significant role in the recent collapse & crypto hype beast culture. I find it bizarre they hold meme tokens in their balance sheet. We deserve better.
9/ One of the most notable milestones was the launch of Stacks Mainnet last January 14, 2021. This is the 1st part of Stacks' innovative design; it enabled various features such as settling $STX transactions on Bitcoin blocks benefitting its security.
10/ It also enabled stacking to earn native $BTC while locking your $STX. cc: @aulneau_
11/ After the launch, the ecosystem focused on building and enriching the ecosystem. Quarter after quarter, we can see that the developer traction and Stacks was named the #1 web project in Bitcoin.
12/ By total developers, Stacks is project #28 in the industry. Bitcoin itself is project #6 by devs. See this report from @ElectricCapital @avichal
13/ Now, let's go over some of the projects on STX, there's a lot of development, but here are some. Let's start with DeFi on Bitcoin
@ALEXLabBTC is Uniswap on Bitcoin
@ArkadikoFinance is @MakerDAO on Bitcoin, but your loans repay themselves thru Stacking.
14/
@Stackswap_BTC is Sushiswap on Bitcoin
@ZestProtocol is @maplefinance on Bitcoin
@LNSwap - Do you love lightning? This one is for you, you can swap your BTC into order asset in STX
@LiquidiumFi Borrow against your NFT like x2y2
15/ What about NFTs/Ordinals? Here's a compilation for you.
@trygamma the biggest marketplace on $STX, you can now even see Ordinals at it, check this one with @DeGodsNFT . There's no doubt they will release support for Ordinals trading in their marketplace
16/
@tradeportxyz NFT aggregator on $STX $APT $NEAR
@HeyLayer is Stacks version of SuperRare
Remember Collections >650K NFTs have been minted on Bitcoin's Stacks layer and Ordinals crossed 150K let's look at some of the most popular collections on $STX cc: @LeonidasNFT
17/ @MegapontNFT the most popular and the biggest shareholders in terms of volume is releasing a 10K Ordinals NFT collection
You also have @CrashPunks @satoshibles and @bitcoin_birds
18/ Of course, we even have Hardware such as @Ryder_ID where you can use your Ordinals in the physical world. A tap is all you need to create wallet, swap NFTs, and enter a space.
19/ Now, there are more gems in the $STX ecosystem, but this is a high-level overview so you can get a scoop of the overall ecosystem. Time to look at what's coming and why it can be exciting not just for $BTC, $STX but for the entire space in general.
20/ Little alpha, the official release of Stacks 2.1 is finally upon us! What does this mean? We all know the holy grail in crypto is making Bitcoin a productive asset. Think like an Etherean; imagine if BTC can be ultrasound money.
21/ Use #Bitcoin for DEFI, NFTS, and much more which we are seeing now with Ordinals. Stacks 2.1 will enable this much further w/o scalability issues or exorbitant fees.
22/ This update will strengthen STX connection to Bitcoin. You can expect these major upgrades:
- Decentralized BTC peg
-100% Bitcoin security for tx ordering
-fast blocks (in-between Bitcoin blocks).
23/ It will all come back to Bitcoin, we say. Bitcoin will become the foundation for a more secure Web3, and you'll see more and more how Bitcoin will move in and out of Bitcoin layers such as Stacks.
24/ Now, are you bullish on Bitcoin layers? Or did you even enjoy this thread? We're relasing more educational content @Ryder_ID
Save the date: Stacks 2.1 upgrade has a target activation date: Bitcoin block height 781,551 - ETA roughly ~20+ days.
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