Stacks

Stacks is a layer-2 network built on top of Bitcoin that aims to bring smart contracts and decentralized applications to a blockchain that was not originally designed to support them. It is intended for developers who want to build programmable applications that settle on Bitcoin and for users who want to interact with those applications while retaining Bitcoin's security guarantees. The core claim is that apps built on Stacks inherit Bitcoin's properties rather than operating on a separate, independent chain.

Stacks uses a mechanism called Proof of Transfer, in which miners spend bitcoin to compete for the right to produce Stacks blocks, anchoring the Stacks chain's history to Bitcoin's ledger. STX is the native token used to pay for transaction fees and to execute smart contracts written in the Clarity language on the Stacks chain. Holders of STX can also lock their tokens in a process called Stacking, through which they may receive bitcoin rewards from miners, though the data provided does not include details on that reward mechanism.

The protocol collected 3,050 USD in fees over the most recent 24-hour period and 23,846 USD over the trailing 30 days, which annualizes to approximately 290,126 USD based on that 30-day run rate. Fees over the trailing 12 months totalled 168,053 USD. Protocol revenue, meaning the share of fees retained by the protocol itself, was 0.00 USD over both the most recent 24-hour period and the trailing 12 months, indicating that the protocol does not currently capture a separate revenue share distinct from the gross fees paid by users. This means fee-based ratios such as market-cap-to-fees on this page reflect gross user spending against the network rather than any earnings accruing to a protocol treasury.