Bitcoin’s Rising Tide Lifts TVL of Stacks Blockchain

Quick Look at Stacks Bitcoin DeFi

Who says you can’t teach an old dog new tricks? Interest in Bitcoin has reemerged lately as regulatory FUD has targeted USD-based stablecoins. And the OG blockchain’s identity as a “store of value” has been expanded by forays into Non-Fungible Tokens (NFTs), thanks to Ordinals.

Meanwhile, the Stacks Blockchain is promoting itself as a solution to bring Decentralized Finance (DeFi) to Bitcoin. This year, Stacks is one of the fastest-growing chains in crypto, as determined by increase in Total Value Locked (TVL) according to DefiLlama.

In the past month, TVL on Stacks has grown by 180% to $40 million, making it by far the fastest-growing chain with a TVL of more than $30 million.

Let’s take a look at the DeFi landscape on Stacks:

ALEX

• Name: ALEX
• Type: DEX
• TVL: $31 million
• Description: ALEX is the dominant Decentralized Exchange (DEX) on Stacks.

CityCoins

• Name: CityCoins
• Type: Yield
• TVL: $3.8 million
• Description: CityCoins is a yield protocol where users mine coins for different “cities” in exchange for rewards.

StackSwap

• Name: StackSwap
• Type: DEX
• TVL: $2.1 million
• Description: StackSwap is a DEX and token launchpad.

Arkadiko

• Name: Arkadiko
• Type: CDP
• TVL: $1.9 million
• Description: Arkadiko is a liquidity protocol where users can collateralize their assets and mint a stablecoin called USDA.