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Techub News reports that Muneeb Ali has become the CEO of Stacks Labs. Following this news, the price of STX, the native token of the Stacks ecosystem, has risen by 28.8% in the past 24 hours. Stacks Labs is the core entity focused on the development of the Stacks ecosystem, a Layer 2 network built on Bitcoin. (@coingecko)
Techub News, according to Chainwire, Stacks Labs has released a whitepaper proposing a self-custodied Bitcoin staking mechanism that allows Bitcoin holders to earn native Bitcoin rewards without bridging, wrapping, or giving up custody. The mechanism is based on an upgrade of the existing PoX consensus mechanism and has already distributed over 4,200 Bitcoin rewards. The mechanism is implemented through "protocol bonds," where users pair Bitcoin time-locks with STX lock-ups for a six-month period. This is the first phase of Stacks' 2026 roadmap, aimed at establishing an economic foundation for subsequent native Bitcoin lending and programmable capital products.
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