Dear Stackswap Community,
Happy New Year!
During the first half of January, we successfully implemented LBTC, a token pegged to BTC. This will offer increased options to the Stacks ecosystem and will have its stable and transparent price feed through an oracle. Our team has also developed a Vault protocol to accompany the creation of LBTC, to allow users to create a loan collateralized by STSW.
LBTC will contribute to the overall scalability of the Stacks ecosystem with the following features:
- Supplies BTC liquidity to the Stacks ecosystem.
- Opens up the function of STSW tokens as collateral tokens.
- BTC price tracking to create arbitrage trading demand.
- Create even more trade options on Stackswap by combining LBTC for a variety of trading pairs.
Additionally, we started distributing rewards to users who participated in Stackswap’s Beta Launching Event and started having STSW tracked on DefiLlama.
Progress Report
Stackswap Dashboard (at block number 44,855)
Stacks Accelerator Verified Tokens: 7 (+1)
- Stackswap (STSW)
- Stacks (STX)
- Arkadiko Token (DIKO)
- Arkadiko Stablecoin (USDA)
- Miamicoin (MIA)
- Newyorkcity Coin (NEW)
- Lucid Bitcoin (LBTC)
Stackswap Ecosystem and Governance
LBTC Vaults
Vaults created are organized into type A and B based on collateral type to issue LTBC. Currently assets can be collateralized with STSW, with STX Vaults to be released next week.
Summary of Vaults:
Collateral Type : STSW-A, STSW-B
Debt Ratio : A — 225%, B — 200%
Liquidation Ratio : A — 140 % , B — 120 %
Stability Fee : A — 2%, B — 4%
Beta Launch Rewards
As announced November 2021, rewards are distributed to users who participated in the beta event in 3 rounds. The terms of the beta event were tripled LP provision awards, with no locking period of liquidity required. The available rewards (1 of 3x) will be available from block 44,744, with the next claimable dates in 12 months (2 of 3x) and 24 months (3 of 3x).
- Block 44,744
- Block 97,304
- Block 139,864
Block numbers are determined on the Stacks Network and can be seen here. Beta Launch Rewards can be claimed here.
User Guide
We are preparing a user guide regarding main features such as Swap, Farming, Staking, and Vault. Users will be able to learn about the service easily through GIF-based illustrations and will be able to give feedback on how the guides can be improved.
Stackswap Tech Updates
- Testing and implementation of Vaults
- Application of debt ratio, testing on minting and burning
- Router swap test and deployment
- Router swap tests focusing on STX and STSW (e.g. STX > STSW > LBTC)
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