As the world's most liquid and highest-valued crypto asset, Bitcoin's DeFi potential has not been fully tapped for a long time. Since its founding in 2017, Stacks has always been a pioneer in Bitcoin financial innovation, taking the lead in implementing smart contracts, lending agreements, and asset tokenization on the Bitcoin chain. BTCFi represents the DeFi application ecosystem built on Bitcoin or its second-layer network (L2), including trading, lending, staking, and other activities that can generate income.
In 2024, Stacks launched sBTC, which is backed by 1:1 Bitcoin reserves, through the epoch-making "Satoshi Upgrade". The deposit limits of the first three rounds (1,000 BTC, 2,000 BTC, and 2,000 BTC) were reached within 72 hours, 24 hours, and 3 hours, respectively, demonstrating unprecedented market demand and institutional confidence.
This report takes a deep dive into how Stacks is leading the development of Bitcoin DeFi (BTCFi), where Bitcoin’s applications go far beyond value storage. With its evolving ecological growth roadmap, Stacks is poised to maintain its leading position in the BTCFi ecosystem.
The roadmap includes Stacks’ core technology upgrades, sBTC, and Stacks DeFi growth plans. Aspen estimates that due to the adoption of sBTC and the increasing recognition of STX by institutions, the price of STX may reach $3.81 in the third quarter of 2025.
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