Alert - STX on the move
As you may have noticed, I include a bunch of tweets from the Stacks ecosystem. I have been following Stacks since late 2017. Yes, I own Stacks as part of my holdings. It also generates 10% in bitcoin every year!
Stacks is one of the few projects that followed the U.S. security laws during the whole ICO boom in 2017. By following the law, they also moved and grew slower as they had to navigate the U.S. legal system. In contrast, most projects discard the law believing in a new era. Many times, this carelessness catches-up with the project. Of course, the million dollar fee is usually only a fraction of the total raise, yet it also involves a lengthy lawsuit that requires significant resources and attention from a project.
In January, Stacks launched 2.0. In the late spring, Trevor Owens, who wrote the book The Lean Enterprise is an early investor in Stacks (since 2014?), hosted a Stacks Accelerator. Only a few weeks ago, the startups had a demo day. Many of them are launching in the coming days and weeks!
However, the Stacks blockchain network is super slow at the moment with a few NFTs projects that seem to launch every 1-2 days. There is a proposal to increase the speed of the STX network in the next 2-4 weeks.
Finally, why have no other U.S. exchanges besides OkCoin listed Stacks? Great question. Probably because STX was considered a security for a few years. Then Stacks announced that Stacks is no longer treated as a security, thereby opening the way for more U.S. listing? Crypto exchanges don’t want to list securities.
Then just over a month ago, Coinbase Institutional tweeted it is accepting deposits and withdrawals. No trading as of yet.
Then yesterday, there was a massive Twitter debate between Adam Black, an early cryptocurrency founder, and Muneeb, the founder of Stacks.