Stacks Bond 3 Sells Out as BitGo Announces Custody-Based BTC Staking

Stacks’ third bond for Bitcoin (BTC) staking sold out in November, highlighting a use for its native token, STX, while BitGo announced a separate custody option for select institutions. Bullish and 21shares participated in Bond 3, and individual holders also joined through pooled staking. Under the current structure, participants timelock BTC on Bitcoin and lock STX on Stacks worth 5% of the staked BTC’s value. The bond term is about six months. The first two bonds had drawn about 735 BTC by Oct. 15. Bond 2 accounted for 505 BTC, paired with more than 6.7 million STX. Those figures predate the November sellout of Bond 3. BitGo announced Nov. 3 that eligible institutional clients could stake BTC held in BitGo Bank & Trust custody and receive rewards in BTC.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.