Stackingdao
Stacking DAO is a Liquid Stacking protocol on Stacks that makes Stacking easily accessible to anyone and unlocks liquidity for Stacked STX through stSTX, which can then be used across DeFi.
How does it work?
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- Anyone can participate in Stacking by depositing STX into the protocol.
- Users will then receive stSTX, a liquid representation of stacked STX that accrues in value as Stacking rewards are collected.
- Finally, stSTX can also be used across DeFi to earn additional yield.
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How do I receive STX Stacking rewards?
The Stacking process yields BTC rewards, which are then converted to STX. These STX rewards are not deposited into users’ wallets; instead, they are automatically placed in the smart contracts that back stSTX.
A user’s total amount of stSTX remains unchanged, however, when redeeming the underlying STX, the user receives the Staking rewards in addition to the deposited STX tokens.
Where can I use stSTX tokens?stSTX can be used across the Stacks DeFi ecosystem to earn additional yield and points. New integrations are constantly being added and can be viewed on the Stacking DAO site.
The live integrations are:
- Zest (https://www.zestprotocol.com)
- Bitflow (https://www.bitflow.finance)
- Velar (https://www.velar.co)
- Arkadiko (https://arkadiko.finance)
- Hermetica (https://hermetica.fi)
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Who are the Signers used by Stacking DAO for STX delegations?
STX is delegated to the best enterprise-grade Validators/Signers in Web3, with a track record of optimal node uptime and billions in assets under management. These Signers are responsible for running nodes while STX tokens are safely controlled by Stacking DAO smart contracts. The stacked STX are evenly distributed among all Signers, helping to secure the Stacks network by bootstrapping a distributed set of Signers.
How can I unstack my STX position?You can swap your stSTX to STX anytime through Bitflow for instant liquidity. Otherwise, you can get your STX back via Stacking DAO, but it will take up to 14 days to withdraw (length of 1 Stacking cycle).
By initiating the withdrawal process on Stacking DAO, users will burn their stSTX and receive a temporary NFT that represents their withdrawal amount. Once the Stacking cycle is over, users can use the NFT to claim and withdraw their STX.
Read the docs for further information on the withdrawal process: https://docs.stackingdao.com/stackingdao/the-stacking-dao-app/withdrawing-stx
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