HashKey Cloud revealed that the company has joined as a primary partner in Stacks's self-managed Bitcoin staking program and has officially become a participant in Genesis Bond and the operator of the signatories for sBTC. Developers of Stacks expect that the program targeting institutions, Genesis Bond, will be launched around September 10th, but the exact time and quota have not yet been officially announced.
First batch open to institutions
Stacks This time, for the Protocol Bond initiative, participants are required to lock BTC on the Bitcoin mainchain and to lock the corresponding STX on the Stacks network. The project team states that this design will not alter the native consensus rules of Bitcoin, and the locked BTC will still remain in the wallets controlled by the holders.
Genesis Bond In the initial phase, it is mainly targeted at institutions and professional market participants, and will not be fully open to retail users from the beginning. Stacks This means that the initial capacity will be allocated preferentially to approved partners, and some quotas may be provided through designated pooled services.
Earnings are recorded as sBTC.
Stacks adopts the Proof of Transfer (PoX) mechanism, where miners compete to generate blocks by submitting BTC. The protocol then distributes a portion of the profits to eligible participants. Therefore, what is referred to as "Bitcoin staking" in Genesis Bond is not a native staking mechanism of the Bitcoin mainchain, but rather a profit product designed based on the Stacks mechanism.
According to the project technical documents, a period of Bond is equivalent to 12 reward cycles of Stacks, which is approximately 6 months. Participants can withdraw early, but they will lose any remaining rewards for that period. Initially, earnings are accumulated in the form of sBTC; if the selected signer and manager support withdrawal to the main chain, participants can also apply to be settled in native BTC.
HashKey Cloud joins the signature network
In addition to participating in the first batch of Genesis Bond, HashKey Cloud will also join the network of signatories for sBTC. sBTC is an asset that is 1:1 pegged to BTC within the Stacks ecosystem. The signatories are responsible for jointly approving access operations between BTC on the Bitcoin network and Stacks. A single signatory cannot independently transfer the underlying BTC.
Stacks It has been confirmed previously that HashKey Cloud, Ankr, and The Tie have joined the list of signatories. The project team believes that introducing Asian infrastructure service providers will help to expand institutional access and distribute operational responsibilities across more companies and regions. However, an increase in the number of signatories does not eliminate all technical and governance risks.
Details still to be disclosed before launch
At present, HashKey Cloud has not disclosed how much BTC or STX it plans to invest, nor has it announced the participation fees, customer admission criteria, or the list of supported regions. For the market, the official launch time of Genesis Bond, the actual amount of BTC locked in, the first batch of participating institutions, and the available capacity will become the first quantifiable signals to assess initial demand.
Additional information:HashKey Cloud is affiliated with HashKey Holding Limited. This collaboration was introduced by Muneeb Ali, the founder of Stacks, at the event held in Hong Kong on HashKey Cloud between HashKey Cloud and Cactus Custody.
