Millions of Dollars Worth of BTC Earned by New Institutional Signers Since Nakamoto Instantiation
The first step of the Nakamoto Upgrade, the Nakamoto instantiation, began on April 22nd. Since then, there have been about six Stacking cycles (read more about Stacking here).
Let’s take a look at some of the data since instantiation, with a focus on the signers.
Let’s take a look at some of the data since instantiation, with a focus on the signers.
Nakamoto Introduces the “Signer”
The Nakamoto upgrade is a significant upgrade in the Stacks ecosystem. Nakamoto is following a two-step rollout plan, the next major step being “activation,” slated for August 28.
Once fully activated, Nakamoto brings many significant improvements to the network, like faster block times and 100% Bitcoin finality.
Critically, the Nakamoto upgrade introduces a new role of "Signer." Signers participate in the Stacks protocol by validating and signing the blocks produced by Stacks miners.
Once fully activated, Nakamoto brings many significant improvements to the network, like faster block times and 100% Bitcoin finality.
Critically, the Nakamoto upgrade introduces a new role of "Signer." Signers participate in the Stacks protocol by validating and signing the blocks produced by Stacks miners.
Signers Are Coming Onboard
Since the Nakamoto instantiation, over twenty signers have publicly joined the network, including world-class infrastructure providers who have already been onboarded and have started earning BTC rewards.
Congratulations to the signers who have already been onboarded to mainnet and are listed on Hiro's updated Signer dashboard on the Stacks Explorer.
Congratulations to the signers who have already been onboarded to mainnet and are listed on Hiro's updated Signer dashboard on the Stacks Explorer.
- Xverse
- Fast Pool
- Stacking DAO
- Blockdaemon
- Luganodes
- Alum Labs
- Kiln
- Restake
- Despread
- Chorus One
- Planbetter Pool
- BlockDaemon
- Luxor
- Staking Defense League
- Senseinode
- Figment
- Degen Labs
The data is coming into view
As signers begin to participate in the Stacks protocol, the data is starting to take shape. The Stacks Explorer outlines some details of the signer environment, including:
- Signers and the amount of STX stacked
- Signer geographical distribution
- Stacking cycle progress
- Total STX Stacked
Screenshot taken July 31, 2024
Over 118 BTC Earned
The Nakamoto instantiation took place in April, and over a dozen official signers are now participating in the network.
During this time, these signers have authorized the locking of Stacks tokens by stackers. While signers themselves don't directly earn rewards, they facilitate the process that allows stackers to earn BTC rewards. Based on off-chain agreements, 12 public signers have been associated with over 118 BTC in rewards distributed to stackers.
Two important notes:
If you’re interested in running a Signer, check out the documentation.
We thank these network Signers for helping to secure the Stacks network and congratulate everyone earning native BTC rewards. As the network continues to grow, you can expect new resources you can use to track Signer activity for yourself - stay tuned!
During this time, these signers have authorized the locking of Stacks tokens by stackers. While signers themselves don't directly earn rewards, they facilitate the process that allows stackers to earn BTC rewards. Based on off-chain agreements, 12 public signers have been associated with over 118 BTC in rewards distributed to stackers.
Two important notes:
- The Stacks Explorer highlights public signers. However, there are over a dozen signers that aren’t publicly disclosing their information. Critically, following the Nakamoto upgrade and subsequent Bootstrapping Phase (read more about the Bootstrapping Phase in Bitcoin Writes), the Signer network is open for anyone to join. The Stacks Foundation has worked to improve the accessibility of running a signer to ensure a decentralized signer network.
- As of this article’s publication (July 2024), blocks do not depend on Stacks Signers. But following Nakamoto Activation, they will. Signers will participate in the Stacks protocol by validating and signing the blocks produced by Stacks miners.
If you’re interested in running a Signer, check out the documentation.
We thank these network Signers for helping to secure the Stacks network and congratulate everyone earning native BTC rewards. As the network continues to grow, you can expect new resources you can use to track Signer activity for yourself - stay tuned!