sBTC Goes Live on Stacks
sBTC is 1:1 Bitcoin-backed, tokenized BTC on the Stacks Layer
Hi Bitcoin Builders,
This week, the Stacks ecosystem launched sBTC. It’s a 1:1 Bitcoin-backed tokenized BTC product. sBTC is focused on security and has introduced a set of 15 signers responsible for approving all sBTC deposit and withdrawal operations. Read more here.
The sBTC Rewards Program Page notes that users earn 5% APY on their Bitcoin, paid in sBTC. Blockworks writes, “By bridging bitcoin into sBTC, users become eligible for rewards (bitcoinismore.org) paid out in bitcoin, not points or inflationary tokens.”
Where does the yield come from? Per the Rewards page, “The sBTC Rewards Program is powered by a group of Stackers "Stacking" STX to a designated reward address, contributing their BTC rewards to the program.”
Speaking of Tokenized BTC, we have a special announcement.
This week, BBA released a report called State of Tokenized BTC: A $1 Trillion Opportunity.
It’s a 26-page report analyzing the tokenized BTC ecosystem, written by analyst Tanguy Girault.
Download the report here.
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