Stacks 2.0 was successfully launched by miners on January 14th, 2021 and Stacking, as an important part of PoX is now approaching its 5th reward cycle.
For those who are new to the Stacks 2.0 ecosystem, Stacking is locking your STX temporarily to support the Stacks blockchain's security and consensus mechanism. As reward, you earn Bitcoin that miners transfer to you as part of Proof of Transfer (PoX) mining.
Just like how Bitcoin miners run mining software to support the Bitcoin blockchain and earn BTC, you can support the Stacks blockchain and earn BTC just by buying and locking up STX tokens.
Each reward cycle lasts about 15 days or roughly two weeks. Currently the average APY for the last three cycles have been over 20%. However, in order to participate in Stacking, there is a dynamic minimum threshold of tokens you must lock up to earn rewards. For the first two cycles, the minimum was 70100 tokens locked, and in the last cycle, the dynamic minimum increased to 80100. This minimum will continue to rise if more stackers begin the participate in Stacking. (learn more)
Introducing the Xverse delegated Stacking pool.
With the Xverse pool, users are able to earn rewards with as little as 500 STX tokens, and better yet, their tokens never leave the wallet, meaning the STX tokens stay in the Xverse wallet, users do not need to send their STX to anyone, thus removing the associated risk.
Currently, users are able to stack for two reward cycles, and they will receive their reward Bitcoin payout directly into their Xverse wallet at the end of the two cycles.
Xverse’s fee structure is fully transparent because the pool is implemented through a smart contract. This gives users a very clear and auditable way to see the fees from pooling. Secret Key Labs is offering this service with a fee of 10% on rewards. View the Xverse delegated pool contract.
The Xverse delegated Stacking pool service is opening registration for the 5th reward cycle today, Monday,March 15th. You can participate using the latest version of the Xverse mobile wallet. If you don't already have the app, you can install it here for iOS and Android.
Secret Key Labs founder and CEO, Ken Liao, joined Blockstack PBC (now Hiro PBC) in 2017 as Engineering Partner and one of the first 10 employees. Since joining, Ken has worked on the Blockstack browser, developer tools (stacks.js), and the Stacks wallet. Ken founded Secret Key Labs in 2021, its first flagship product is the Xverse mobile wallet, which is currently in beta. Xverse beta is available to download for iOS and Android in English and Chinese.