tycho.btc
@TychoOnnasch
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π§ Building Bitcoin DeFi @ZestProtocol | Contributor @Stacks @StackingDAO | Previously @trustmachinesco
Joined July 2015
Very excited to be finally sharing this news. Building on #Bitcoin with the best π.
Zest Protocol raises $3.5m Seed round to redefine Bitcoin lending. Led by @drapervc, with participation from @BinanceLabs, @FlowTraders, @trustmachinesco, @goasymmetric and more π€
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Excited to announce @ZestProtocol's BTCz. putting the cz back into btc β¨.
1/ It's time to bring the best of @babylonlabs_io and @Stacks together!. Today, we're announcing Zest Protocol's first BTC yield product: BTCz. BTCz uses Babylon for yield, and Stacks for security. Read how π
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Stacks Nakamoto is coming soon and it's going to be BIG π. Some thoughts here on what's going to happen on @Stacks and how to position π.
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1/ Many asked for an sBTC OP_DROP deep-dive, here we go π§΅.
OP_DROP sBTC peg-ins are going to be @Stacks killer feature. Send BTC from L1 directly to a smart contract on the Stacks L2 with a single Bitcoin L1 transaction π€―. Very few people understand how this works, and how to leverage it.
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xrp is getting attention because tokens issued in the US might not have capital gains tax under trump. @stacks issued stx with sec approved reg-a in the us π₯.
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I think we might have figured out a way to borrow BTC uncollateralized. Fully on-chain, only native BTC txs, powered by @Stacks π.
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π Meet Zest Protocol π. Zest is on-chain Bitcoin capital markets. Undercollateralised bitcoin liquidity for institutional borrowers, zesty yields for individual Bitcoin lenders. We're bringing the $120 trillion bond market on-chain. Zesty.π.
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Years of work went into the @Stacks Nakamoto release. A lot of Bitcoin L2s face similar design decisions as the team that built Stacks. Story time on how early design decisions were made π§΅.
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want to get ready for @stacks season?. 1. buy STX.2. stake STX for stSTX on @StackingDao - the points meta on stacks.3. deploy stSTX on @ZestProtocol and earn points, backed by @BinanceLabs .4. buy @muneeb's cat @LeoCoinSTX on @VelarBTC or @Bitflow_Finance .5. lfg β.
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1/ OP_DROP sBTC peg-ins are going to be @Stacks killer feature this cycle. Send BTC from L1 directly to a smart contract on the Stacks L2 with a single Bitcoin L1 transaction β¨. But how does it work? π.
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Still @Stacks is still the only ecosystem that launched their token in compliance with SEC standards. After the BTC ETF, Bitcoin's leading L2 is now cleared by US regulators. With the Greyscale $STX trust live, I can imagine Stacks to top the list for institutional investors.
π‘ππͺπ¦: SEC drops a three-year investigation into Stacks with no action. Earlier this week, we received word from the SEC that after 3 years, they are terminating their investigation into the @Stacks blockchain (the protocol) and Hiro System (a company) with no action. Stacks.
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OP_DROP sBTC peg-ins are going to be @Stacks killer feature. Send BTC from L1 directly to a smart contract on the Stacks L2 with a single Bitcoin L1 transaction π€―. Very few people understand how this works, and how to leverage it.
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damn @stacks defi tvl on @DefiLlama broke $100m TVL for the first time π₯. bitcoin defi protocols getting ready to absorb billions in btc liquidity post nakamoto and sbtc launch
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For the longest time, it was hard to explain what @Stacks does. No longer. Recent developments of modular blockchains make explaining Stacks much easier to a larger crowd π§΅.
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VC investor that just raised a $100m token fund: . "From what Iβve heard, the engineers in the Stacks ecosystem are some of the best out there".
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The proposed @Stacks Nakamoto consensus rules were posted on Github a few days ago. In the proposal, the security budget per Stacks block would increase 5,000x & periodically reach Bitcoin security π₯. Also, block times would decrease from 10 minutes to seconds. A summary π.
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A bunch of people are still not sure about what the @Stacks Nakamoto upgrade entails. How are fast blocks really achieved, while anchoring the chain even more closely to Bitcoin? π.
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A few unicorn founders have been reaching out with plans to build their next project on @Stacks. Bullish π₯.
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VC today after I mentioned I was surprised by their @Stacks knowledge:. 'Every fund is very interested in Bitcoin right now, and if you're not, you're messing up'.
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Token2049 Dubai was bullish. Deep interest in @Stacks, every fund manager trying to sharpen their Bitcoin L2 thesis, the power of sBTC is slowly beginning to dawn on builders, and most people in the space still don't know where to start wrt building on Bitcoin. Early π§.
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Lots of talk about ZK rollups for Bitcoin on crypto twitter today. Let's look behind the headlines, in a couple of tweets π§΅.
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nakamoto upgrade not priced in.sbtc not priced in. bears thought it wouldn't ship.it's going to get interesting on @stacks.
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The guys at @WrappedFi just ship π’ . Say hello to xUSD a second stablecoin on @Stacks . this is a big step for long term stablecoin peg stability on Stacks.
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So @Stacks is now the only PoW L1 with fully expressive smart contracts that has a significant community of builders. we'll be here for you when validator censorship comes.
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The market is definitely not ready for @Stacks Nakamoto. Ultra fast blocks and BTC on the category defining Bitcoin L2. July 15th testnet will be a key date for things to pick up imo.
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For many, DeFi is a black box. We need more DeFi literacy on @Stacks to inspire the great builders we have to build exciting protocols. I'll do a few threads on fundamental concepts and share hooks for interesting things to build. Let's start with Impermanent loss π§΅.
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sBTC is now collateral on @ZestProtocol. The initial debt ceiling is $1m, allowing users to borrow up to $1m against sBTC collateral - a first on @stacks β¨
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I think DeFi on Bitcoin is the biggest lever to grow crypto. Why? π.
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Stacks 2.1 is <100 blocks away. This is just the beginning. @Stacks core PRs are up 10x this year. Excited for accelerated chain upgrades π₯.
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first nakamoto fast blocks on @stacks, then sbtc. are you ready for the fastest, cheapest, most secure btc derivative yet, anon?.
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It's hard to not be bullish on @Stacks right now. Bitcoin L2s are a category here to stay, there's a clear leader, and low conviction folks dumped their bags after the Nakamoto delay π.
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FTX was by far the most difficult exchange to deal with for the @Stacks ecosystem. refusing to list stx, stacks tokens, aggressively delisting stx from exchanges they acquired etc. $STX was the first Reg-A tokensale in the US, an approach some ppl clearly wanted to discourage. .
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Bitcoin and @Stacks have been my life for almost 3 years now. Leveraging Stacks tech to infinity the next >3 years with @ZestProtocol π«‘.
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So much work has been done on @Stacks Nakamoto over the past 2 years that it's hard to keep track - and it's all going live soon. I'm trying to make time for a Stacks Nakamoto master thread with all the technical details & what it means for apps π€.
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What a lot of people don't know is that there were only a handful of contributors to @Stacks core blockchain development one year ago. Today, there are ~40 blockchain engineers contributing to Stacks core. Many were hired as other chains laid off some of their best engs.
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The largest asset managers in the world shilling our work? Not bad.
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The @Stacks blockchain engineers have come up with some seriously incredible innovations for the future of Bitcoin applications - game-changing stuff. .
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A lot of people have become interested in Bitcoin L2s lately. A question we often get is, would it be possible to build @ZestProtocol on another Bitcoin L2? And why use the @Stacks L2 specifically?. Short 𧡠on why most of Bitcoin DeFi will be built on Stacks.
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The people I've met so far in the @Stacks ecosystem are all very high integrity. Integrity is hard to capture on charts but it really matters. I'm almost looking forward to a bear market to see how well this will hold together.
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BRC-20s are coming to @Stacks with reliable on chain indexers very soon. Things like pooled lending with BRC-20s as collateral will become possible β¨.
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so @Stacks memecoins are on sale as we're 5-6 weeks away from blocktimes going from 20 mintutes plus to retail speed?.
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Feels like we might get an airdrop szn on @Stacks - I heard of two protocols launching in the next month initially without token, potentially more.
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A few years ago, building on Bitcoin was unobvious and asymmetric. Today, building on Bitcoin is becoming obvious and still asymmetric. This thing is just getting started.
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I've spent some time over the past months thinking about ways @Stacks could give its smart contracts write access to Bitcoin. Open-ended thoughts π§΅. 1/16.
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A big congrats to the @Lydian_DAO team for starting their Dutch auction yesterday and becoming the 5th DeFi protocol on @Stacks π. I thought this would be a good time to do a quick state of the union of DeFi on @Stacks . Which money legos should come next? Here are some ideasπ.
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1/5 . "Stacks is the only viable L2 on Bitcoin".- Ken, CEO of XVerse Wallet. Wise words spoken on yesterday's edition of the @Stacks DeFi Show. We were joined by:.β’ Founder & CEO of @XverseApp, @YukanL.β’ Founder of @bsdmoney, @stackatron. Let's dive into the highlightsπ.
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just saw the next version of @stx tools and it's very cool π. kudos to the @LeoCoinSTX team π.
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βEthereum is $250bn, Ethereum L2s something like $60bn. #Bitcoin is $500bn and its L2s are $1-2bnβ. @muneeb with @BQCryptoKorea at @kbwofficial π°π·
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As Bitcoin blockspace gets crowded, payments move to Lightning and more expressive usecases move to Bitcoin smart contract L2s like @Stacks. This is good for Bitcoin.
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@Stacks @StackingDao @ZestProtocol @LeoCoinSTX here to make things fun with @Welsh_Community, @VelarBTC and @Bitflow_Finance for swaps & perps.@HermeticaFi for stables.@asignaio to keep things safe. things are about to unfold π.
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added 100 more folks to @ZestProtocol whitelist π«‘. also an additional $2m in stSTX TVL has been flowing in π.
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true - it's time for @stacks meme season.
$LEO is so undervalued and should 10x from here on proportional value alone. SHIB is 4% the mcap of ETH. PEPE is 2% the mcap of ETH. WIF is 3% the mcap of SOL. POP is 1.3% the mcap of SOL. LEO is only 0.15% of STX. Send it way higher.
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Stacks success in 2024 was measured by core tech upgrades. Stacks success in 2025 will be measured in TVL growth. @ZestProtocol & @StackingDao are here to absorb the capital π«‘.
at the start of 2024 we set the goals to (a) define and create bitcoin L2s as a category and (b) build and ship the core foundations and products for the leading bitcoin L2. stacks nakamoto (multiple launch phases), sBTC launch, and market recognition of bitcoin L2s all happened.
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Speaking about DeFi on @Stacks at 1:20pm ET today. How liquid stacking with @StackingDao is opening doors for Stacks markets on @ZestProtocol β¨
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Some people in @Stacks are longing for nothing. 1. Mint stSTX on @StackingDao .2. Borrow STX against stSTX on @ZestProtocol .3. Sell STX for $not-hing on @ALEXLabBTC . long nothing be happy
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When Bitcoin L1 NFTs get traction, users will soon realise that there is no way to swap those NFTs trustlessly on Bitcoin L1. and then users discover that there are Bitcoin layers like @Stacks that have the technical capacity to swap while state is anchored to Bitcoin π₯.
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USDh borrow cap on @ZestProtocol has been raised from $200k to $300k. Deeper DEx liquidity on @stacks makes this possible - excited for the next cap raise @HermeticaFi π€.
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bought more.
hearing whispers in our ecosystem that the next 4-6 weeks are going to be epic: so many things coming together, kudos to all the hard work behind. itβs time for bitcoin and bitcoin l2s to shine π§.
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babylon's btc staking protocol is the technically most elegant thing i've seen in bitcoin since learning about Stacks' proof-of-transfer 4 years ago. pumped to bring the best of @babylonlabs_io and @stacks together with BTCz on @ZestProtocol π.
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A new dawn for Bitcoin applications π
. We've been hard at work @trustmachinesco to bring some exciting #Bitcoin DeFi apps to life. More details on the apps we're working on coming soon - can't wait to get the community involved, we need you π.
Major news: weβve raised $150M for a new entity to build the largest ecosystem of Bitcoin applications. Bitcoin can be a productive asset and final settlement layer for web3 apps. Say hello to Trust Machines:
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I've been speaking to a lot of large CeFi institutions over the past weeks to do user research for the DeFi app I'm working on. Most are seriously looking into @Stacks with the majority seeking out investment opportunities. Bullish.
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slowly, then suddenly. overnight successes are years in the making π«‘.
itβs time for stacks to wake up the sleeping giant of the bitcoin onchain economy. weβve been preparing years for this π§.
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had a chat with the crypto team from one of the largest banks in the world. they are looking into btc lending and believe that protocols will dominate.
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already crossed $100m π«‘.
With a $90M+ TVL, Stacking DAO is now the largest DeFi app on @Stacks and across any Bitcoin L2. Though only a few months old, the protocol has become a cornerstone of the Stacks ecosystem.
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Stacking does not count as TVL for @Stacks, but liquid stacking does. TVL stats are used by investors to measure ecosystem activity, so minting stSTX on @StackingDao makes a big difference πͺ.
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π¨π¨ We believe the @ZestProtocol X account got compromised, don't interact with any posts from it.
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