探寻Stacks生态下一个百倍Alpha「BTC生态」
Original - Odaily
Author - Asher
Editor - Qin Xiaofeng
Stacks: Bitcoin Layer 2 Solution
Basic Information
The Stacks public chain was co-founded by Muneeb Ali and Ryan Shea in 2013. It was originally named Blockstack and later renamed Hiro Systems PBC. A major feature of this project: financing under Reg A under the supervision of the SEC, and is a blockchain project that meets SEC regulatory standards. As of today, Stacks has completed 5 rounds of financing, with a total amount of US$88 million (as shown below).
Image source:Rootdata
According to official news, Stacks will launch a version called Nakamoto in the first quarter of 2024. The biggest highlight of this version is the transaction speed, which will be increased from the 10-30 minute block speed currently bound to Bitcoin L1 to 5 seconds. Out of blocks.
Inscription section drives Stacks popularity
This round of craze for inscription blocks has also come to the Stacks chain. Since the launch of Stacks first inscription project STXS, the price of STX has risen from US$1 to currently around US$1.5, an increase of 50%.
Image source:coingecko
And, the most noticeable thing is that after STX exploded from the Inscription project STXS, most exchanges have stopped withdrawing coins in the past week. Today, exchanges have gradually opened currency withdrawals, but most exchanges have also increased currency withdrawal fees. The picture below shows the current situation of currency withdrawals from exchanges to on-chain wallets.
Exchange currency withdrawal status
ecological development
Image source:DefiLlama
By analyzing data on the Stacks chain, the ecosystem is still in its early stages, with TVL of nearly $60 million. If the concept of BTC L2 can be caught up with the product upgrade in 2024, it is very likely that there will be several projects with a market value of over 100 million or even billions. So, what are the sectors and corresponding leading projects that deserve attention at present? Odaily will sort out the currently popular projects in this ecology for everyone.
Inscription plate
In this wave of inscription craze, the Stacks chain also has its own local inscription project. Although it is not as popular as Ethereum and Solana chain inscriptions, the inscriptions issued on Stacks have also run their own leading project STXS, which is also the first inscription project issued by the chain. It is very popular in Europe and the United States and has also received official approval. support. Currently, the inscriptions issued on this chain are ranked according to the current market value as shown below. It is obvious from the picture that the development of inscriptions on this chain is still in its early stages. Even the leading project STXS has a market value of less than 7 million US dollars, and there are only three inscription projects with a market value of more than 100,000 US dollars.
Stacks Inscription Market Value Ranking List
Although the overall market value of the Stacks inscription market is relatively small, there are already places for secondary trading (as shown below). After a version iteration, the current basic experience of trading STX 20 projects on this platform is satisfactory. There are still some complaints:
The Pending time is too long when making a purchase. Since under the current version of Stacks, the speed of block production is synchronized with that of BTC, a simple transfer may take more than 20 minutes. In addition, the platform will require 6 blocks of confirmation after the purchase action is uploaded to the chain, which further extends the transaction time. It is initially estimated that it will take at least nearly 2 hours to complete this series of actions.
Since the chain has few contacts, Gas will not be adjusted, causing the transaction to remain in the Pending state. Since most people have little or no interaction with wallets on the Stacks chain. Therefore, during the transaction, the Gas fee will not be adjusted, resulting in the chain being unable to be uploaded and the chain being stuck (the previous transaction is not completed, and subsequent transactions cannot be carried out). In the end, the new transaction can only be carried out after 256 blocks. A transaction (if a pending transaction on the Stacks chain is still packaged after 256 blocks, it will be automatically canceled).
It is precisely for this reason that when the secondary exchange first came online, the floor price of Inscription Leader STXS dropped from a maximum of $600 in the OTC market to a minimum of around $200, and currently remains around $300. However, compared to other public chains with inscriptions, Stacks developed a secondary exchange in just one week and iterated the second version after Christmas, which is already very fast. If Stacks will increase its block production speed in the first quarter of next year, most of the problems with the transaction will be solved, and its Inscription Ecosystem projects may have good growth, so it is worthy of attention.
Image source:stx 20.com
DeFi sector
ALEX
ALEX is an open source DeFi protocol based on the Stacks public chain. The goal is to provide a complete DeFi product for the Bitcoin network. Currently, ALEX’s status on Stacks is like Uniswap on Ethereum.
ALEX
The current mainnet version of ALEX includes Swap, lending, staking, revenue mining and Launchpad. In addition, as BRC-20 becomes extremely popular, ALEX also launched the BRC-20 order book exchange.
Order book trading
In addition, it is worth paying attention to the Launchpad service on ALEX. ALEX is also involved in the same sector that is currently booming. The latest issue of Launchpad is a re-release of old OG projects. It has a certain community base and deserves special attention.
ALEX is the native token of Alex Labs and a reward medium for the platform to provide liquidity and staking. The current price of ALEX is US$0.375 and its market value is approximately US$245 million.
Official Twitter:https://twitter.com/ALEXLabBTC
Official website:https://app.alexlab.co/swap
NFT sector
Gamma
Gamma is the largest NFT trading platform in the Stacks ecosystem, consisting of three core parts: NFT market, NFT Launchpad and WEB3 social platform. Gamma’s goal is to organically bring together collectors, creators, and investors in the Bitcoin ecosystem to explore, trade, and display NFTs. Users can use Gamma bot to mint their unique digital creations and collect or sell them. Similar to other mainstream NFT decentralized exchanges on public chains, Gamma.io can also be used to create Bitcoin NFTs without coding, and users can successfully create them in just a few minutes.
Gamma
In the past week, the most popular NFT project in the Stacks ecosystem has been Happy Welsh, and its project token has soared dozens of times from zero in the first half of the year to this wave of prices. The total quantity of Happy Welsh is 2000, and the floor price is 70 STX (as shown below).
Happy Welsh
Official Twitter:https://twitter.com/trygamma
Official website:https://stacks.gamma.io/
Wallet section
Xverse
Xverse is a WEB3 encryption wallet built on Stacks and supports the Ordinals protocol. Users can manage BTC assets and Stacks assets through this wallet. At the same time, the wallet also has a built-in stack function. Users can earn Bitcoin income by stacking STX. The current annualized rate of return is 9%.
Overall, the UI of the Xverse wallet is simple, and the wallet creation process is similar to that of many EVM-compatible wallets. A mnemonic phrase is used to restore the wallet. For users who are accustomed to the MetaMask wallet, this greatly reduces the threshold for using the Xverse wallet. After the wallet is created, multiple addresses will be generated at the same time, one is a Bitcoin address, which is used to receive and send Bitcoin assets. One is the Stacks network address, used to manage Stacks-based assets.
Xverse
Official Twitter:https://twitter.com/xverseApp
Official website:https://www.xverse.app/
Leather
Leather is a wallet application built on Bitcoin, formerly Hiro Wallet. Hiro is a development tools company that supports developers on the Stacks blockchain. Similar to the Xverse creation process, it is easy for users who have used MetaMask to get started. At the same time, Leather has some convenient built-in functions. Users can directly use credit cards, debit cards or even bank transfers to purchase STX within Leather.
Currently, the wallet supports browser extensions for Chrome, Firefox, and Brave, as well as desktop versions for MacOS, Windows, and Linux systems. The browser extension version can connect to applications, purchase STX, mint and purchase NFT, and use Ledger hard wallet. The desktop version allows you to participate in staking to earn Bitcoins and protect assets using Ledger hard wallets.
Leather
Official Twitter:https://twitter.com/LeatherBTC
Official website:https://leather.io/
Summarize
Overall, Stacks has not really exploded in this round of market conditions, and it is still early days. If the Nakamoto version in the first quarter of 2024 can be successfully launched, Stacks is likely to explode under the BTC Layer 2 narrative.
If the Stacks ecology explodes, the currently popular Inscription section, Launchpad, and Meme section deserve special attention. At the same time, the infrastructure section should also pay more attention to its data changes and look for Alpha.
IOS
Android