Key figures from StackingDAO, Stroom, pStake, and Acre gathered for the Staking Sats AMA to talk about Bitcoin staking and its potential benefits. he session covered topics such as attracting Bitcoin users to stake their BTC, user incentives, risks and challenges in Bitcoin staking, and the unique selling points of each protocol.

The panelists discussed how their protocols integrate with DeFi, provide competitive yields, and guarantee security with strong security measures. Dive into the AMA highlights to gain insights into how these protocols are shaping the future of Bitcoin staking and DeFi integration.

X Spaces: Staking Sats

Speakers:

• Leeor Shimron (X (Twitter): Co-Founder @ StackingDAO (X Profile)
• Slava Zhygulin (X (Twitter): CTO & Co-Founder @ Stroom (X Profile)
• Mikhil Pandey (X (Twitter): Co-Founder @ pStake (X (Twitter)
• Bryan Mahoney (X Profile): Co-Founder @ Acre (X Profile)

Index:

1. Panelists Introduction and Project Overview
2. Convincing Bitcoin Users to sStake BTC
3. Users incentives for Staking Protocols
4. Risks and Challenges in Bitcoin Staking
5. Unique Selling Points of each Protocol
6. Bitcoin Restaking narrative and future outlook

1. Panelists Introduction and Project Overview

• Leeor (StakingDAO): Head of Growth, $100M TVL, 40,000 active users, 10% APY on Stacks blockchain.

“We're the leading liquid staking protocol on the Stacks blockchain, having achieved $100 million in TVL within six months, thanks to our innovative approach to staking and user engagement."

• Mikhil (P-Stake): Co-founder, pivoted from Cosmos to Bitcoin liquid staking.

“We realized that Bitcoin has unmatched demand, which is why we've pivoted to focus on liquid staking for Bitcoin, bringing our experience from the Cosmos ecosystem."

• Brian (Acre): Co-founder, Bitcoin in/out liquid staking platform.

“Acre is all about Bitcoin in, Bitcoin out liquid staking, and we're here to tap into the natural desire of Bitcoin holders to grow their wealth while staying true to Bitcoin's principles."

• Slava (Stroom): CTO and co-founder, building Bitcoin liquid staking on Lightning Network.

“Stroom is pioneering Bitcoin liquid staking on the Lightning Network, aiming to contribute to Bitcoin's adoption as a payment system with an innovative approach to staking."

2. Convincing Bitcoin Users to Stake BTC

• Leeor (StackingDAO) suggested a "barbell approach": majority in Bitcoin, small percentage in higher-risk/yield opportunities.

“Bitcoin maximalists might be hard to convince, but a barbell approach—holding most assets in Bitcoin and a smaller percentage in riskier options—can outperform typical strategies."

• Brian (Acre) emphasized innate human desire to grow wealth, even among Bitcoin holders.

“People have an innate desire to grow their wealth, and this extends to Bitcoin holders who are now looking for risk-free or low-risk ways to increase their Bitcoin holdings."

• Mikhil (pStake) noted changing demographics of Bitcoin holders, more open to yield opportunities.

“Bitcoin holders today are not the same as they were ten years ago; there's a growing openness to exploring yield opportunities that weren't there before."

• Slava (Stroom) pointed out basic math: higher risk must offer higher rewards.

“It's basic math; if you take on higher risk, you should expect higher rewards, and that's exactly what we aim to offer with our staking solutions."

3. User Incentives for Staking Protocols

• StakingDAO: Points program, 1 point per day for holding ST-STX.

“For every ST-STX held, you earn one point per day, creating a straightforward incentive for our users."

• P-Stake: Convertible points system, leveraging existing token.

“Our points are convertible to tokens on a monthly basis, allowing users to see real value from their points rather than just speculative hope."

• Acre: Focusing on Bitcoin-native yield, with plans for yield farming opportunities.

“Acre offers Bitcoin-native yield, and we're exploring additional yield farming opportunities to maximize user benefits."

• Stroom: Planning liquidity mining program at mainnet launch.

“We're leveraging a points program to test user behavior before launch, and plan to implement a liquidity mining program when we go live."

4. Risks and Challenges in Bitcoin Staking

• P-Stake identified trust assumptions in custodial solutions as a major challenge.

“Custodial solutions come with inherent trust assumptions, which is why we emphasize minimizing these risks through trustless mechanisms."

• Acre formed a Security Council to oversee financial, security, and regulatory risks.

“Our Acre Security Council is tasked with managing risks across financial, security, and regulatory dimensions, ensuring transparency and user trust."

• StakingDAO highlighted multiple audits and structural safeguards. “We've undergone multiple audits to ensure structural safeguards are in place, protecting users from potential exploits."
• Stroom emphasized the challenge of integrating with DeFi protocols for liquidity.

“Integration with DeFi protocols poses a challenge, but it's essential for liquidity, and we're actively working on building a track record to gain trust from established platforms."

5. Unique Selling Points of Each Protocol

• StakingDAO: Easiest way to stake STX tokens, 10% yield, outperformed Bitcoin by over 280% since 2021.

“With a 10% yield and 280% outperformance since 2021, StakingDAO offers the easiest way to stake STX tokens and earn significant returns."

• P-Stake: Offers both liquid staking and managed self-staking options.

“Our unique managed self-staking option allows users to earn yield without surrendering control of their BTC, setting us apart from other platforms."

• Acre: Bitcoin in, Bitcoin out model with native Bitcoin yield.

“Acre's Bitcoin in, Bitcoin out approach is designed to maximize native Bitcoin yield, catering to those who prefer pure Bitcoin staking without complex tokenomics."

• Stroom: Staking on Lightning Network, contributing to Bitcoin's adoption as a payment system.

“By building on the Lightning Network, we're not only providing staking solutions but also promoting Bitcoin as a true peer-to-peer cash system."

6. Bitcoin Restaking Narrative and Future Outlook

• Mikhil (pStake): Bitcoin is ideal for restaking due to stability and global appeal.

“Bitcoin's stability and global appeal make it the perfect candidate for restaking, providing secure and attractive yield opportunities."

• Leeor (StackingDAO): Skeptical of restaking utility, emphasizes need for real use cases.

“I'm skeptical about restaking unless it presents real use cases; we need genuine demand to support this narrative, not just speculative projects."

• Brian (Acre): Sees opportunities in the DeFi layer for liquid restaking with Bitcoin assets.

“Liquid restaking presents a huge opportunity within the DeFi layer, allowing Bitcoin assets to provide additional security and yield in innovative ways."

• Slava (Stroom): Plans to partner with Ethereum-side projects like Symbiotic or Karak for restaking integration.

“We are exploring partnerships with Ethereum-side projects like Symbiotic or Karak to integrate our liquid staked Bitcoin as a restakeable asset."