One of the most hyped projects in the Ethereum ecosystem this year is EigenLayer. EigenLayer enables users to restake their Ethereum and earn yield. Unfortunately, EigenLayer only operates within the Ethereum network. Meanwhile, a significant issue for Bitcoin holders is the lack of effective yield generation. However, with the emergence of Bitcoin Layer-2 ecosystems, as discussed in our recent articles, there's a chance for Bitcoin to yield more effectively. Yet, the Bitcoin ecosystem is different, and many are still unfamiliar with its workings.
Enter Stakelayer, a project offering a solution to create and manage yield via Bitcoin Layer-2. Stakelayer shares similarities with Ion Layer, where users can earn yield by helping secure the network and contributing liquidity. In essence, Stakelayer is a Bitcoin Layer-2 focused on providing innovative staking services for Bitcoin holders, featuring a user-friendly, secure, and transparent UI without hidden fees.
Main Question: Where does the yield come from? The yield stems from Stakelayer's restaking services, which enable users to earn yield from the Bitcoin Layer-2 ecosystem or EVM chain. This can be achieved through lending and borrowing, LP yield, arbitrage trading, and more. Stakelayer functions as a yield strategy manager, eliminating the need for users to navigate various chains and incur multiple gas fees. Users can stake their Bitcoin within a single UI while earning yield simultaneously.
Roadmap: As of the creation of this article, Stakelayer is in its super early stages, having just entered the pre-launch phase in Q1 2024. The Layer-2 Bitcoin innovation is relatively recent, with over 73 Layer-2 Bitcoin projects currently in existence. In Q2, Stakelayer plans to initiate partnerships, launch pre-sale campaigns for early access to early adopters. In Q3, Stakelayer will commence Alpha release and community testing, followed by the main net launch and collaboration with other Bitcoin Layer-2 ecosystems in Q4. Similar to other Layer-2 projects, Stakelayer will release its governance token, Stick Token, enabling token holders to participate in governance decisions.
Tokenomics: Stick Token's use case, as observed during the early stages, seems to revolve solely around governance. The token's release is anticipated in Q2 2024, or upon the completion of the pre-sale quota. Tokenomics allocation includes 30% for community and user incentives, 10% for the team, 5% for marketing and community growth, 10% for partnerships, 15% for development funds, and 10% for liquidity pools.
Participation: Interested users can participate by depositing Ethereum, selecting various chains such as Ethereum, Binance Smart Chain, Polygon, Arbitrum, among others. Despite the promised Q2 token generation event (TGE), delays are possible, and the public sale allocation will be fulfilled gradually. Stakelayer has undergone audits by Solidproof, OXG, and CoinAudit. The team's LinkedIn and Telegram links are available on their official website.
Conclusion: Stakelayer offers an intriguing opportunity for Bitcoin holders to engage with Layer-2 ecosystems and earn yield effectively. While waiting for the TGE, users can already stake their tokens and participate in the project's quests. With collaborations and listings planned, Stakelayer aims to be a significant player in the Bitcoin Layer-2 landscape alongside other projects set to launch throughout Q2 to Q4.
