Today, we’re excited to share that the Stacks Foundation has teamed with Brink
to support a new full-time Brink Fellow
, allowing for further expansion of their exceptional work supporting Bitcoin Core. The sponsorship is the first of its kind, being paid directly with the bitcoin yield generated via Stacking
on the Stacks blockchain.
Stacks extends the functionality of Bitcoin, unlocking its full potential as the foundation for a better internet. Given its importance in our vision for the future, we’re extremely grateful to be working with Brink to give back in this way and are delighted to see Stacking directly fuel continued Bitcoin development. For the unfamiliar, Stacking is a key part of Stacks’ unique Proof of Transfer (PoX) consensus mechanism that secures the blockchain. Stackers can support security on the chain by locking their tokens to the network, in turn earning an ongoing 10-12% APY yield paid in bitcoin.
In other words, it’s bitcoin yield fueling Bitcoin development
, how cool is that?
Brink’s intensive one-year fellowship program is led by John Newberry, one of Bitcoin's most prolific contributors. Fellows receive direct mentorship as they begin contributing to Bitcoin Core, including training that covers consensus, peer-to-peer networking, testing and review. By the end of the program, fellows have the skills necessary to make even more high-impact contributions to Bitcoin Core.
Initially, the Stacks Foundation is Stacking 1,320,000 STX for Brink, resulting in rewards paid out roughly every two weeks that will total approximately ~$165,000 (and likely much more) in BTC over the course of the year. The bitcoin is being paid directly to Brink and will be distributed to a fellow who will be announced soon. Over $10,000 in Bitcoin rewards from Stacking have already begun accumulating in Brink’s wallet--you can track the progress on stacking.club.