Allbridge to become the first token bridge for the Stacks token
Soon after the launch of the Stacks Bridge, more token and NFT transfers will be supported so users can benefit from the security of Bitcoin and the speed of other chains. Multi-chain token bridge Allbridge will become the first to offer Stacks (STX) transfers as part of a partnership with Bitcoin software developer Daemon Technologies.STX is the native token for the Stacks Layer-1 blockchain which settles transactions on the Bitcoin (BTC) network. It currently has a market cap of $1.7 billion. Allbridge currently serves 12 blockchains including Ethereum, various Ethereum-compatible....
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The Bitcoin Odyssey is funded by Digital Currency Group, GBV Capital, White Star Capital and GSR, among other organizations. Cryptocurrency exchange Okcoin, along with the Stacks Accelerator and Stacks Foundation, announced on Thursday the start of the “Bitcoin Odyssey,” a one-year commitment among investment firms to invest $165 million in inventive solutions to help drive Bitcoin (BTC) adoption.The Bitcoin Odyssey is funded by Digital Currency Group, GBV Capital, White Star Capital and GSR, among other organizations, to respond to the rise in interest in decentralized finance (DeFi) and....
Stacks is bridging decentralized finance and the Bitcoin network. BitGo users will now have access to BTC yield directly through STX tokens. Beginning Monday, BitGo will offer institutional token holders the ability to earn Bitcoin rewards through the Stacks token, which is also known as STX. Through a process known as Stacking, STX token holders can earn BTC rewards directly in their wallets. Unlike other yield-earning services, BTC rewards generated through Stacking are not based on a lending auction, which means STX token holders do not need to lend their funds. Rather, Stacks claims....
Blockstack may have successfully transformed its STX token from securities registration to commodity status. Blockstack may be about to go where no token has gone before, by metamorphizing from a security to a non-security, as far as U.S. regulators are concerned.In a Monday blog post, Blockstack CEO Muneeb Ali published a legal memorandum in which the firm argues that its Stacks (STX) tokens will no longer qualify as securities once the new blockchain launches. The firm predicts that Stacks Blockchain 2.0 will be live "at the end of 2020 or the beginning of 2021."But what does the new....
In the past month, Blockstack's STX token quietly rallied 85% as network fundamentals improved and a key mainnet launch approaches. Blockstack's STX might not be on every investor's radar, but the 72nd-ranked cryptocurrency by market capitalization has been doing some serious work behind the scenes.Blockstack (STX) 1-month chart. Source: Coin360.comThe company behind the token was founded in 2013 and raised money from Union Square Ventures, Naval Ravikant, Lux Capital and Digital Currency Group.The initial coin offering actually happened in September 2019, and the fundraise was $28 million....