Stacks
Stacks is the leading Bitcoin Layer 2 blockchain that enables smart contracts, decentralized applications, and programmable Bitcoin via sBTC. It serves Bitcoin holders seeking yield, institutional capital, developers, and emerging AI agent economies.
- Company typePublic
- Founded2017
- HeadquartersAnaheim, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Stacks does
Stacks is a Bitcoin Layer 2 blockchain originally launched as Blockstack in 2017 and rebranded in 2020, designed to enable smart contracts, decentralized applications, and programmable Bitcoin without modifying Bitcoin's base layer. The network uses Proof of Transfer (PoX) consensus, where miners spend Bitcoin to mine Stacks blocks and earn STX, producing blocks every few seconds while settling finality to Bitcoin approximately every 10 minutes. Core technical components include the Clarity smart contract language (security-first with Bitcoin-state visibility), sBTC (a 1:1 Bitcoin-backed asset secured by a decentralized signer set requiring 70% consensus), and the Nakamoto upgrade activated in October 2024 targeting 100x performance improvement. Sub-products include Stacking (locking STX to earn up to 10% APY in Bitcoin), Dual Stacking (combining BTC and STX for yield), and upcoming self-custodial Bitcoin Staking.
The company serves three primary customer segments: Bitcoin holders seeking yield on over $1 trillion in idle BTC capital (500,000+ funded wallets), institutional Bitcoin capital requiring compliant infrastructure (enabled through Fireblocks' 2,400+ clients, BitGo custody, Circle USDCx, Bitfinex liquidity, and Nansen analytics), and developers building Bitcoin-native DeFi applications using Clarity and sBTC (50+ live protocols including Bitflow DEX, Zest lending, Hermetica yield, AIBTC AI agents). Marketing is community and developer-led via documentation (docs.stacks.co), regional foundations (Stacks Asia, Stacks Korea), Foundation grants, and partner co-marketing with Circle, Fireblocks, and Bitfinex.
Monetization is structural to a Layer 1/2 protocol rather than traditional SaaS: STX functions as gas for transactions and smart contract calls, DeFi protocols generate fees (trading, lending, vault yield), and the Stacks Endowment (2026 budget $27M) and Stacks Foundation administer ecosystem grants. Institutional revenue capture flows through partner integrations rather than direct sales. The foundation has raised approximately $58M cumulatively across a $23M Series A (February 2026), $20M for Bitcoin L2 Labs (2024), and $15M for the Asia Foundation (2024). Total headcount is in the 11-50 range, governed by the Stacks Foundation, with STX token publicly traded on all major global exchanges.
Stacks firmographics
Firmographics- Name
- Stacks
- Legal name
- Stacks Foundation
- Website
- https://stacks.co
- Company type
- Public
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Stacks is the leading Bitcoin Layer 2 blockchain that enables smart contracts, decentralized applications, and programmable Bitcoin via sBTC. It serves Bitcoin holders seeking yield, institutional capital, developers, and emerging AI agent economies.
- Ownership category
- akta.pro rank
Stacks industry classification
Industry- Product category
- Bitcoin Layer-2 Blockchain Infrastructure
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB)
- akta.pro secondary industries
- Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ), Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF), Stablecoin Protocols (Decentralized) (FSADAMAD)
Keywords
Where Stacks is headquartered
LocationHeadquarters
- HQ city
- Anaheim
- HQ country
- United States
- HQ region
- North America
Markets served
Stacks business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Others
Revenue model
- STX Gas Fees: Every transaction, smart contract call, and agent activity on Stacks uses STX as gas. Users pay small fees in STX for network operations including transacting, supplying lending/borrowing, and agent activity. This generates demand for STX as network usage grows.
- Bitcoin Mining Rewards (PoX): Miners spend Bitcoin to earn STX, which is then used to pay stackers who lock STX to secure the network and receive Bitcoin spent by miners as rewards. This economic loop binds Stacks to Bitcoin settlement.
- DeFi Protocol Revenue: Protocols on Stacks (Bitflow DEX, Zest lending, Hermetica yield vaults) generate revenue through trading fees, interest spreads, and vault mechanics. STX serves as the capacity asset for Bitcoin staking, increasing in utility as DeFi grows.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | STX Stacking rewards up to 10% APY paid in Bitcoin |
Go-to-market motion2 records
Distribution channels8 records
Marketing channels7 records
Stacks product offering
Product offeringCore offering
Stacks is a Bitcoin Layer-2 blockchain that brings smart contracts, decentralized finance, and AI agent infrastructure to Bitcoin via the Proof of Transfer (PoX) consensus mechanism. Its core offerings include sBTC (a Bitcoin-pegged asset), the Stacking yield mechanism, Clarity smart contracts, the Hiro developer platform, and an ecosystem of 50+ DeFi protocols. The protocol also operates an institutional Bitcoin Staking pilot backed by $100M in capital.
Product overview
Stacks is the leading Bitcoin Layer-2 blockchain that enables smart contracts and decentralized applications on Bitcoin through its Proof of Transfer (PoX) consensus mechanism. The platform provides a comprehensive product suite: the core Stacks blockchain enables 1:1 Bitcoin-backed programmable assets through sBTC, allowing Bitcoin holders to earn yield while maintaining custody. The native STX token fuels network transactions and serves as staking capacity for Bitcoin Staking. Users can participate through Stacking (earning up to 10% APY in Bitcoin by locking STX) or Dual Stacking (combining BTC with STX). The ecosystem includes institutional-grade infrastructure via Circle USDCx, Fireblocks, BitGo, and Bitfinex, plus 50+ DeFi protocols including BitFlow (DEX), Zest Protocol (lending), Hermetica (yield), and AIBTC (autonomous AI agents). Developer tools include Clarinet, Stacks.js SDK, Hiro Platform, and the Stacks API for building on Bitcoin.
Differentiator
Problem solved
Functional benefit
Brands
- sBTC: 1:1 Bitcoin-backed asset that unlocks BTC's capital for use in DeFi on the Stacks network
- Stacking
- Nakamoto
- Dual Stacking
- USDCx
- Stacks Endowment
Products and services
- Stacks Bitcoin Layer-2 Layer-2 blockchain protocol that brings smart contracts, DeFi, and AI agent functionality to Bitcoin through the Proof of Transfer consensus mechanism. Founded 2013 (as Blockstack), rebranded 2020.
- sBTC A Bitcoin-pegged asset on Stacks that allows BTC to be used in smart contracts and DeFi applications while remaining anchored to Bitcoin's security.
- Bitcoin Staking (Dual Stacking) Yield mechanism allowing STX holders (and, via Dual Stacking, BTC and stablecoins) to earn Bitcoin-denominated rewards by locking tokens to support network consensus. A $100M institutional capital pool backs the program.
- Stacking Core consensus-supporting mechanism through which STX holders lock tokens to participate in block validation and earn BTC rewards distributed by PoX.
- STX (Native Token) The native utility token of the Stacks protocol, used to pay gas fees, participate in Stacking, and secure the network.
- USDCx USDC stablecoin deployed on the Stacks network, supporting stable-value transactions, DeFi, and institutional treasury use cases.
- Clarity Smart Contract Language A decidable, non-Turing-complete smart contract language designed for predictability and security on Stacks, used by developers to build Bitcoin-anchored applications.
- Hiro Platform End-to-end developer platform offering APIs, SDKs, and tools for building, testing, and deploying Stacks applications.
- Clarinet Smart contract development and testing framework for Clarity, enabling local development, unit testing, and deployment of Stacks contracts.
- Stacks.js JavaScript SDK that provides libraries for interacting with the Stacks blockchain, including wallet integration, transaction construction, and contract calls.
- Stacks Blockchain API Hosted REST API providing read access to Stacks blockchain state, transaction history, and account data, used by wallets and applications.
- Leather Wallet Self-custody wallet (formerly Hiro Wallet) used by retail users to hold BTC, STX, and sBTC and to interact with Stacks DeFi applications.
- Xverse Wallet Self-custody wallet used by retail users to manage BTC, STX, sBTC, and Stacks-based tokens and Ordinals.
- BitFlow DEX Decentralized exchange protocol on Stacks enabling trading of BTC, STX, sBTC, and other Stacks-based assets.
- Zest Protocol Bitcoin-native lending and borrowing protocol on Stacks that allows users to lend BTC and sBTC to earn yield or borrow against Bitcoin collateral.
- Hermetica DeFi protocol on Stacks offering synthetic dollar assets backed by Bitcoin and STX collateral.
- AIBTC AI agent infrastructure on Stacks that enables autonomous, on-chain AI agents to transact, coordinate, and execute via smart contracts.
- ALEX (DeFi Protocol) DeFi protocol on Stacks offering token swaps, lending, and yield products.
Quantifiable outcome
- DeFi TVL grew 120.8% QoQ to 488.1M STX
- +8 more outcomes
Companies that use Stacks
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles3 records
Stacks technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
AI capability2 records
Feature8 records
Stacks partnerships and signals
Strategic signalPartnerships
24 partnerships are on record, tiered core, minor and major.
- Stacking DAOcoreStacking DAO announced stBTC, a liquid staked version of Bitcoin designed for Stacks' upcoming Bitcoin Staking release. Stacking DAO has operated STX Staking infrastructure for over two years, managing over $150 million in peak staked capital for 40,000+ stakers. They expect to launch stBTC just before Stacks' Bitcoin Staking release.
- BoPminorBoP (Balance of Payments) signed MoU with Stacks to explore use of stablecoins for cross-border digital remittances. Early-stage exploration of financial inclusion use cases.
- BitflowcoreBitflow launched HODLMM, a concentrated liquidity engine for Bitcoin creating the first deep, on-chain BTC/USD trading venue settled on Bitcoin. Bitflow has processed over $1B in cumulative volume since 2024 and integrates with Stacks blockchain and Circle's USDCx stablecoin for institution-grade orderbook-style AMM functionality.
- FireblockscoreFireblocks integration with Stacks enables 2,400+ institutional clients to access Bitcoin DeFi services including Bitcoin-yielding vaults via Hermetica, BTC-backed loans via Zest and Granite, and BTC-native trading via Bitflow. The integration gives institutional investors access to compliant Bitcoin-yielding strategies and positions Fireblocks as a bridge between institutional-grade custody and the Bitcoin DeFi ecosystem. Launch expected in Q1 2026.
- CirclecoreCircle's xReserve launched with Stacks as a partner, bringing native USDCx (USDC-backed stablecoin) to Bitcoin's leading Layer 2. USDCx is fully backed 1:1 by Circle reserves and issued through a compliant framework. Circle's CCTP and Gateway handle cross-chain movement without third-party bridges. This enables institutions to move between BTC and dollars on Bitcoin rails without compromising compliance.
- BitGocoreBitGo supports BTC and sBTC on Stacks bringing institutional-grade custody, multi-sig security, and institutional compliance workflows to the Bitcoin DeFi stack. As an early Stacks Signer and supporter of sBTC, BitGo enables institutions to use Bitcoin productively through Stacks with qualified custody and compliance workflows consistent with existing BTC operations.
- ImmunefimajorThrough Immunefi's Magnus platform, the Stacks ecosystem runs ongoing, structured security programs with professional researchers including live bug bounties and coordinated disclosures. This aligns with how institutions assess risk before deploying capital through continuous adversarial testing rather than one-time audits.
- WalletConnectmajorWalletConnect and Stacks integration expands access to STX Stacking across the ecosystem, giving users and institutions more ways to earn and connect securely including through integrations like Hex Trust. As leading connectivity layer for the financial internet moving billions monthly, WalletConnect is a critical institutional access point.
- NansenmajorNansen brings professional-grade on-chain analytics to Stacks, enabling funds to track flows, monitor protocol health, analyze risk, and perform real diligence. Nansen's integration signals ecosystem maturity as analytics providers for asset managers and hedge funds don't integrate with ecosystems that aren't being used.
- WormholemajorWormhole planned to connect Stacks with Ethereum, Solana, and other ecosystems using battle-tested infrastructure that has already moved billions. Once live, this positions Stacks as a Bitcoin liquidity aggregation layer with sBTC as a Bitcoin-native programmable asset for secure, decentralized BTC liquidity.
- Zest ProtocolcoreZest Protocol is a Bitcoin-native lending and borrowing market where users deposit sBTC to earn yield or borrow against holdings. V2 launched in 2026 with improved capital efficiency, higher caps, and smoother liquidation mechanics. Major DeFi protocol on Stacks.
- HermeticacoreHermetica offers a Bitcoin-backed yield-bearing synthetic dollar protocol (USDh) and Bitcoin Earn Vault for automated yield strategies. 75 BTC cap filled within 24 hours. Major yield protocol on Stacks ecosystem.
- AIBTCmajorAI BTC is the leading protocol for deploying Autonomous AI agents that use Bitcoin as capital, making economic decisions onchain without human intervention. 150+ autonomous agents deployed with tens of thousands in transactions. On-chain proof exists of AI agents earning Bitcoin autonomously.
- BitfinexcoreBitfinex provides direct liquidity rails into Stacks enabling large trades, tighter spreads, and market making infrastructure. STX is now available on every top 15 global exchange. Bitfinex also serves as a network signer contributing to Stacks' security infrastructure.
- Stacks Asia FoundationcoreStacks Asia Foundation launched with $15 million backing to expand presence in Asia and promote DeFi development on the Bitcoin Layer-2 platform. Foundation aims to foster growth in key Asian markets including Korea, Hong Kong, Singapore, Japan, Southeast Asia, and UAE. Led interim by Kyle Ellicott.
- Hiro SystemscoreHiro Systems provides developer tools that bring web3 to Bitcoin. The Hiro Platform enables writing, testing, and deploying Clarity smart contracts directly from browser. Stacks API by Hiro allows querying blockchain information, broadcasting transactions, and scaling projects.
- GrayscalemajorGrayscale offers public STX trust providing institutional exposure to Stacks token. One of the companies growing Bitcoin with Stacks ecosystem.
- Tenero ResearchminorTenero Research published report identifying Stacks as primary Bitcoin Layer 2 where AI agent economic activity is concentrating. Report based on Bitcoin Policy Institute findings that 48.3% of AI models prefer Bitcoin for autonomous transactions.
- GammacoreGamma is the leading NFT marketplace on Stacks for exploring, collecting, and selling NFTs secured by Bitcoin. Powers the top NFT collections by volume including Megapont Ape Club, Bitcoin Monkeys, and Stacks Punks.
- ALEXcoreALEX is an autonomous Bitcoin liquidity protocol where users can participate as liquidity providers, borrowers, or liquidators. Open-source DeFi protocol modeled on world financial markets.
- Leather WalletcoreLeather is a wallet for Bitcoin and Stacks designed for security, clarity, and growth. Supports STX, BTC, and sBTC with Ledger hardware wallet integration. Major self-custody wallet in the Stacks ecosystem.
- XversecoreXverse is the Bitcoin wallet for everyone supporting iOS, Android, and Chrome. Connects to Stacks apps and stacking pool with Ledger support. Major self-custody wallet in the Stacks ecosystem.
- ArkadikomajorArkadiko is an open-source protocol that mints a stablecoin (USDA) generating Bitcoin yield. Governance token DIKO for decentralized non-custodial liquidity protocol.
- PythmajorPyth provides smarter data for smarter contracts, serving as oracle infrastructure for Stacks DeFi protocols requiring external price data.
Scale indicators21 records
Recent moves7 records
Expansion highlights6 records
Stacks competitors and assessment
Company assessmentOthers
- Alchemy: Alchemy is a leading blockchain developer platform and node infrastructure provider. Comparable as critical infrastructure provider serving the same developer ecosystem building on Stacks and other chains, and a potential integration partner for Stacks' developer tooling stack.
- Chainalysis: Chainalysis is the leading blockchain analytics and compliance platform. Already integrated with Stacks for compliance monitoring; comparable as the institutional trust infrastructure layer that enables institutional capital deployment into Bitcoin DeFi ecosystems including Stacks.
Direct peers
- Babylon: Babylon is a Bitcoin staking protocol that enables BTC holders to stake Bitcoin to secure other chains and earn yield without bridges. Directly comparable as both target idle Bitcoin capital and offer Bitcoin-native yield products, competing directly with Stacks' Dual Stacking and upcoming Bitcoin Staking products.
- Rootstock (RSK): Rootstock is a Bitcoin sidechain/L2 enabling smart contracts and DeFi on Bitcoin using a merged-mining consensus model. Directly comparable as both are Bitcoin L2s offering EVM/Solidity-compatible smart contracts with BTC bridges, competing for the same Bitcoin DeFi developer and capital base.
- Liquid Network (Blockstream): Liquid is a Bitcoin sidechain operated by Blockstream providing BTC-pegged assets (L-BTC) for traders and exchanges. Directly comparable as a Bitcoin L2/sidechain targeting institutional Bitcoin capital with asset issuance and DeFi capabilities, predating Stacks in serving exchange and institutional use cases.
Emerging players
- Sovryn: Sovryn is a Bitcoin DeFi protocol built on Rootstock offering lending, trading, and yield products. Directly comparable as Bitcoin-native DeFi infrastructure competing for the same Bitcoin holder capital seeking productive yield, with overlapping protocol categories (lending, trading).
- Botanix Labs: Botanix is an emerging Bitcoin L2 using EVM with a "Spiderchain" architecture for decentralized Bitcoin bridging. Comparable as a Bitcoin L2 with smart contract capability and BTC bridge infrastructure, competing for the same Bitcoin-native DeFi and developer ecosystem.
Broad incumbents
- Arbitrum: Arbitrum is a leading Ethereum L2 with the deepest DeFi liquidity and developer ecosystem. While not Bitcoin-native, Arbitrum increasingly attracts Bitcoin capital via bridges (Wormhole, LayerZero) and competes for the same DeFi yield-seeking capital pool that Stacks targets.
- Lightning Network: Lightning is the dominant Bitcoin L2 for fast, low-cost payments via state channels. While not a smart contract platform, it competes for the same Bitcoin Layer 2 narrative and developer attention, and is often cited alongside Stacks in Bitcoin scaling discussions.
- Base (Coinbase): Base is Coinbase's Ethereum L2 with deep integration into Coinbase's institutional and retail distribution. Comparable as an institutional-grade L2 with growing DeFi ecosystem; competes for institutional Bitcoin capital via wrapped BTC products and increasingly for Bitcoin-native DeFi mindshare.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Stacks social profiles
Digital presenceStacks compliance and trust
Trust signalCompliance2 records
Stacks financial estimates
Financial estimateRevenue estimate
Valuation estimate
Stacks leadership team
Management profileNumber of profiles
Profiles5 records
Stacks subsidiaries and ownership
Company hierarchySubsidiaries2 records
Stacks funding detail
Funding detailFunding overview
Funding rounds9 records
Investors32 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Stacks M&A and investment
M&A and investmentM&A
Investments7 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Stacks
What does Stacks do?
Stacks is a Bitcoin Layer-2 blockchain that brings smart contracts, decentralized finance, and AI agent infrastructure to Bitcoin via the Proof of Transfer (PoX) consensus mechanism. Its core offerings include sBTC (a Bitcoin-pegged asset), the Stacking yield mechanism, Clarity smart contracts, the Hiro developer platform, and an ecosystem of 50+ DeFi protocols. The protocol also operates an institutional Bitcoin Staking pilot backed by $100M in capital.
Is Stacks a public or private company?
Stacks is a public company. It is classified as venture growth investor backed and is currently operating.
When was Stacks founded?
Stacks was founded in 2017. It employs 11 to 50 people.
Where is Stacks based?
Stacks is headquartered in Anaheim, United States, in the North America region.
How does Stacks make money?
Three revenue lines are on record. STX Gas Fees are the primary driver. The others are bitcoin Mining Rewards (PoX) and deFi Protocol Revenue.
Who are Stacks's main competitors?
Others on record are Alchemy and Chainalysis. Direct peers are Babylon, Rootstock (RSK) and Liquid Network (Blockstream). Emerging players are Sovryn and Botanix Labs. Broad incumbents are Arbitrum, Lightning Network and Base (Coinbase).
Does Stacks have an API?
Yes. Stacks provides a comprehensive developer API ecosystem. The Stacks Blockchain API allows developers to interact directly with the blockchain to query information, broadcast transactions, and scale projects. Additional APIs include Chainhooks (reorg-aware, IFTTT-compatible Bitcoin indexing engine), Stacks.js SDK for decentralized app development, Stacks CLI for blockchain interactions, and the Hiro Platform for browser-based smart contract development, testing and deployment. Developer documentation is at docs.stacks.co.
What industry is Stacks in?
Stacks's product category is Bitcoin Layer-2 Blockchain Infrastructure. Its primary akta.pro industry code is FSAPAEAB, Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption), with a secondary code of FSAPAIAJ, Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails). Its NAICS code is 518 and its SIC code is 6199.