TVL locked on stacks protocol increased 400% in the past four months, and most of that is staked ALEX. ALEX is the governance token for the defi exchange by the same name, which operates on stacks protocol and lets users have what looks like all kinds of fun, farming and staking.
The stacks network is a bitcoin Layer2 that allows for smart contracts on Bitcoin, using Bitcoin as its security and with all of its transactions being automatically hashed and stored on Bitcoin blocks themselves.
Stacks is going to be doing a hard fork called Nakamoto. The Nakamoto upgrade is expected to happen between April 15th to the 24th of this year and will allow for stacks transactions to be secured by Bitcoin finality and faster stacks transactions.
After a successful Nakamoto fork, Stack developers expect to take sBTC live within 2 months of the bitcoin halving.
sBTC is really interesting. It will allow us to deploy our own BTC directly to earn yeild, lend and fund on the stacks protocol. We’ll be able to send sBTC to a bitcoin wallet and it will “peg out” as BTC.
The time frame from April 15th through to the 24th when the Nakomoto hard fork is expected happens when Sun is exalted in Aries, and Mercury is retrograding towards Rahu in Pisces.
Astrologically speaking, it would be much much better if the hard fork happens as close to the 15th as possible. That’s because for example, on the 15th Mercury has not yet entered into Rahu’s orb and Venus is still in Pisces.
That’s an important factor because when Venus is in Pisces with Mercury, it creates successful scenarios by activating a Neech Bang Raja Yoga. Since Venus and Rahu are great friends, it will also help Mercury. For the future of stacks, and so that it does well price wise, the best date for the hard fork to happen would be Wednesday April 17th, because Venus will be between Mercury and Rahu, and Moon will be in kendra to Jupiter in the sky. That would be in fact a really powerful chart.