June 23, 2022 · 5 min read
Stacks Demo Days
On June 15th and 16th, Stacks Ventures showcased some of the most exciting developing projects on the Stacks blockchain. The demonstrations ranged from Gaming and Web 3 applications to mining and NFT protocols. Let’s take a look at some of the protocols which are building the future of DeFi on Bitcoin.
The Stacks Ecosystem (June 2022)
StackerDAO is a protocol for building communities on Bitcoin and providing users with the necessary infrastructure and tools for their own DAO (decentralised autonomous organisation). StackerDAO also provides infrastructure for DAO functionality such as governance and treasury management. Through the StackerDAO UI, the management portal can be used to interact with any DAOs a user is a member of.
Depending on the application of the DAO, different smart contract templates are available which are tailored to use-case. Some of the platform’s templates include DAOs for NFT communities, investment clubs and gaming guilds.
Zeer is a security protocol which uses DLT (distributed ledger technology) to assist users in emergencies. When the user’s secret safeword is entered into the app, Zeer contacts appropriate emergency responders and livestreams the user’s locational data. The protocol can also send medical data and live audio visual data to emergency responders. The event is recorded on the Stacks blockchain, similarly to recorded police reports or ambulance response reports.
Xverse is a non-custodial wallet app for Stacks used to connect to DeFi and NFT protocols. The wallet supports BTC and STX holdings as well as STX based NFTs. Users can also use their STX holdings for stacking from within the wallet for 10% APY paid in BTC, while helping secure the Stacks network. Only 100 STX is required to participate in the Xverse stacking pool, which is significantly lower than the requirement for most other pools.
NeoSwap is a liquidity solution for STX-based NFT trading. The protocol allows users to select NFTs as well as fungible STX tokens to be entered into a pooled swap transaction. Users can set a maximum STX spend limit and bid on any NFTs that other entrants have brought into the pool. The maximum spend limit means that several NFTs can be bid on without the user spending more than expected.
Syvita Mining is a protocol for mining the popular CityCoins Stacks project. In CityCoins mining, block-winners are decided at random based on the number of STX tokens they have stacked. Syvita Mining pools users STX together in order to reduce the risk involved, as well as increasing the likelihood of the pool winning the block. The pools are non-custodial and reward payouts take place on a daily basis.
Stacks Degens is a play-to-earn GameFi project which uses Stacks-based NFTs for participation. Players can participate in racing tournaments against other players to earn both BTC and STX rewards. Users can also customise their Stacks Degens NFTs and merge them with other STX NFT collections such as Stacks Punks.
GenoBank is a web 3 protocol for blockchain-based tracing of biosamples and biodata using NFTs. Users can share samples with researchers or doctors and permission to these samples can be revoked at any time. Data markets and universities can also access permissioned samples on the Stacks blockchain. The protocol also recently announced a new anonymous DNA marketplace where users can earn STX for providing DNA information.
Gamma (Previously STXNFT)
Rebranding from ‘STXNFT’, Gamma is an open marketplace for buying and selling STX-based NFTs. The platform has auction functionality similarly to OpenSea, but with lower fees. The top STX NFT collections over the past week included Megapont Ape Club and Bitcoin Monkeys.
Discreet Log Contracts is a protocol for enabling settlement on the Bitcoin blockchain. The group is in the process of developing a bridge to enable smart contracts written in Clarity to settle on Bitcoin, which will unlock billions of dollars BTC to be used for DeFi. Some Stacks protocols such as the lending platform Arkadiko already use these ‘DLCs’ for settlement on Bitcoin.
Novum Insights Stacks Dataverse
The Stacks Dataverse is our own Stacks blockchain explorer which allows tracking of transactions, whale-wallets, NFTs, financial metrics and more. Time-based graphs can be generated showing stats such as number of transactions per block and total daily transactions. The tool provides an in-depth understanding of stacking activity, with info such as total STX locked, APYs and total participating addresses. Top Stacks projects, including some of those listed above can also be explored.
Get started using the Stacks Dataverse.
The Stacks ecosystem is just getting started, and already hosts an abundance of useful DeFi tools secured by Bitcoin. Billions of dollars worth of Bitcoin-based liquidity is being unlocked through Stacks as Bitcoin’s DeFi capabilities are steadily being developed.
Written by Rob Henderson for Novum Insights
(Disclaimer: Please be aware that Stacks Accelerator is currently an investor in Novum Insights at the time of this article’s publication. Novum Insights is also a member of ‘Stacks Accelerator’ cohort-1.)
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