Figment Boosts Bitcoin’s Layer 2 Ecosystem with Stacks Support

Figment Elevates Stacks Layer with Institutional ‘Stacking’ Solution

Figment, a trailblazer in blockchain infrastructure, has made a significant leap by supporting the Stacks layer, bolstering Bitcoin’s Layer 2 ecosystem. With an expansive network encompassing over 250 clients, Figment’s new institutional ‘Stacking’ solution is set to revolutionize Stacks layer functionalities. Their expertise in security and industry practices positions them as a vital contributor to the Stacks network, particularly with the upcoming Nakamoto and sBTC upgrades.

Bitcoin Renaissance Through Stacks Layer Innovation

The integration with Stacks heralds a new era for Bitcoin, transforming it into a productive asset. The sBTC upgrade promises rapid, cost-efficient BTC transfers on Layer 2, alongside enabling more versatile applications. Building a strong validator network is crucial for network security and decentralization, and Figment’s commitment to this endeavor is a pivotal step forward in this Bitcoin revolution.

Figment’s Crucial Role as a Nakamoto Upgrade Signer

Figment’s announcement to become a Signer for Stacks’ Nakamoto upgrade is a game-changer, enhancing Stacks’ capabilities as a complete Bitcoin Layer 2 solution. As a Signer, Figment will validate Stacks blocks and facilitate sBTC transactions, bridging BTC movements between Layer 1 and Layer 2. This integration not only secures the network but also propels the development of scalable Bitcoin applications.

Revolutionizing Bitcoin Staking with Unique Solutions

Stacks stands out as the sole layer offering native Bitcoin yields through its innovative Proof-of-Transfer (PoX) consensus mechanism. This approach inherits Bitcoin’s trusted security features, presenting a significant opportunity for Bitcoin staking. Figment’s early adoption in this sector paves the way for groundbreaking staking products.

Institutional-Grade Services Uplift the Stacks Ecosystem

Figment’s involvement introduces institutional-grade infrastructure to the Stacks ecosystem. Their expertise offers a robust platform for institutions to delve into Bitcoin’s DeFi space with confidence. With Figment, these institutions can engage with Stacks assured of having a seasoned and reliable stacking partner.

Impact on Builders in the Stacks Community

• White Label Services: Figment’s White Label offerings enable builders to incorporate stacking into their applications smoothly, without the complexities of managing a Signer node.
• Seamless Integration: Figment’s adaptable APIs facilitate effortless management of token operations for app developers.
• Enhanced Security and Performance: Optimized for asset security and service resilience, Figment guarantees high uptime, ensuring the safety and performance of staked assets.

The Influence of Figment’s Involvement with Stacks

Figment’s support for Stacks marks a significant stride in advancing Bitcoin’s Layer 2 ecosystem. This collaboration not only enhances network security and decentralization but also opens doors for innovative Bitcoin staking solutions and institutional-grade services in the DeFi space. As Stacks continues to evolve, Figment’s role as a Signer and service provider is pivotal in shaping a secure, efficient, and versatile Bitcoin Layer 2 environment.