Earn BTC Rewards while Staking Stacks with Figment

Stacks is a smart contract platform built on top of Bitcoin. Stacks functions similarly to a Layer 2 on Ethereum, allowing for faster, cheaper transactions and new use cases for Bitcoin through programmability. Its native cryptocurrency, the STX token, is used to ensure Stacks network security and govern the protocol.

What is Stacks?

Stacks is a smart contract platform and Layer 2 (L2) built on Bitcoin. It provides native visibility into BTC state as well as full smart contract capability, all backed by the security of Bitcoin. Put simply, Stacks enables the Bitcoin economy to grow. After the upcoming Nakamoto release, Stacks will enable faster and cheaper BTC transactions and provide builders (and their users), the security of 100% Bitcoin finality as well as paths to using BTC as payment for gas fees on the network. Its native cryptocurrency, the STX token, is used to validate the network and ensure security and governance.

What Problem does Stacks Solve?

Transactions on Stacks are significantly faster and cheaper than on Bitcoin. Currently, Stacks blocks coincide with Bitcoin blocks (about one every 10 minutes), but will be upgraded to approximately 5-second block times after the network’s Nakamoto upgrade. Transaction fees are also significantly lower than on Bitcoin. Finally, Stacks brings smart contract functionality to Bitcoin and opens the door to a universe of new Bitcoin dApps.

A major Stacks network upgrade called the Nakamoto release is now in development that will bring writability to the Bitcoin network and allow for easier interaction between native BTC and dApps.

What is Figment’s involvement with Stacks?

Figment is excited to support Stacks with an enterprise-grade Stacking solution. We are also participating in the Stacks testnet. If you are interested in stacking STX, Figment offers a host of services aimed at delivering safe and reliable staking rewards for your assets. Stay tuned for further announcements, staking guides, and more.

Bring the Complete Staking Solution to Your Organization

Figment is a world leading provider of staking infrastructure. Our 250+ institutional clients rely on Figment to provide best in class staking services including complete network coverage, expert insights, detailed rewards reporting, optimal rewards, and seamless integrations.

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Earn industry lead risk-adjusted rewards on digital assets

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Make informed decisions with our tools & insightful data

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Leverage our experts to accelerate your stake and rewards

What makes Stacks Important?

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Proof-of-Transfer (POX)

Stacks uses a unique consensus method called Proof-of-Transfer (PoX) that has both staking and mining components to secure the network. In PoX, a Stacks ‘miner’ opts into Stacks consensus and sends BTC-denominated bids on the Bitcoin L1 for the right to produce a new Stacks block. No material energy expenditures, extra equipment, or specialized hardware is required to mine STX.

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Stacking rewards paid in BTC

Stacking rewards paid in BTC from the Bitcoin mining process. Its native cryptocurrency, the STX token, is used to validate the network and ensure security and governance.

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Lower transaction fees than Bitcoin

Transactions on Stacks are significantly faster and cheaper than on Bitcoin. Transaction fees are also significantly lower than on Bitcoin.

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Smart contract functionality

Stacks brings smart contract functionality to Bitcoin and opens the door to a universe of new Bitcoin dApps.

Staking Stacks with Figment

Point-and-click staking (stake, unstake and view rewards)

Portfolio tracking and comprehensive rewards reporting

Performance insights and analytics

Staking and Rewards APIs for seamless integrations

Utilize preferred third-party custody solutions

Calculate estimated staking rewards

“sBTC has the potential to become a foundational layer of the Bitcoin economy currently being built on Stacks. We are proud to support the Stacks ecosystem and its institutional token holders as an sBTC Signer and Stacking Node Operator on the protocol.”

Clayton Menzel

Head of Strategy at Rio Network

“Figment's support of Stacks is a step forward for the Bitcoin economy. By supporting the Nakamoto and sBTC upgrades, they're supporting an influx of new Bitcoin L2 builders creating new use cases for Bitcoiners and the immense amount of mostly latent capital they hold. Signers of this caliber will go a long way toward establishing sBTC as a go-to asset for use with Bitcoin-first applications and enables a multitude of other signers Signers to support the Bitcoin L2 without technical overhead.”

Mitchell Cuevas

Director of Activation at the Stacks Foundation

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