The Impact of a Phantom Capital Lock on Rewards

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The total supply lock is actually higher than the total circulation of STX. It's pretty, so it's like a bad bug in a way because it's impacting the rewards that the people are getting. You don't actually have the capital, the protocol thinks that you have a lot of capital lock. And the rewards that should be going to other people, they're now there to you.

Muneeb Ali joins us to discuss how Stacks is bringing DeFi to Bitcoin. We cover Stacks design, the Bitcoin DeFi thesis, L2 security guarantees, Stacks' recent implementation bug and more!

And as usual, we start the episode with our analyst bullpen to discuss Aave's GHO, TradFi announcements, Optimism's Bedrock, Frax governance shenanigans and BitDAO.

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Timestamps:

(00:00) Introduction

(00:55) Hot Seat/Cool Throne

(27:19) Interview Start: Stacks

(42:22) The Proof-of-Transfer Mechanism

(46:55) The Nakamoto Release: A Security Budget Upgrade

(53:21) The Bitcoin DeFi Thesis

(57:49) Bitcoin Subnets

(1:01:10) The “Stack Increase” Bug

(1:17:15) Bitcoin MEV and Censorship

(1:25:03) Increasing Miner Competition

(1:28:37) Reorg Concerns and Orphan Blocks

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Resources:

Stacks

https://www.stacks.co/

Stacks Roadblocks (Blockworks Research Twitter thread)

https://twitter.com/blockworksres/status/1659228801384194049

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Disclaimer: Nothing said on 0xResearch is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Dan, Sam, and our guests may hold positions in the companies, funds, or projects discussed.