Key Takeaways
CryptoSlate reports that HashKey Cloud has joined Stacks’ Genesis Bond pilot, time-locking Bitcoin while retaining keys and pairing the position with STX.
According to CryptoSlate, HashKey Cloud will join Stacks’ Genesis Bond pilot by time-locking Bitcoin while retaining its keys and pairing the position with STX worth roughly 5% of the committed Bitcoin. Stacks founder Muneeb Ali announced the participation on X, making HashKey the second institution known for the pilot.
The structure avoids lending and custody transfers. Participants place Bitcoin in a time-locked output on Bitcoin's base layer and keep the keys, meaning the principal stays outside a lending agreement, wrapper, or third-party custody arrangement. However, returns depend on STX exposure, miner economics, and Stacks network activity. Payouts come from a BTC pool committed by Stacks miners competing to produce blocks and receive STX block rewards.
HashKey’s allocation was not disclosed, and the pilot's total committed BTC is expected to appear on-chain when the bond begins around September 10. The first bond operates inside a managed bootstrap rather than an open auction, with the Stacks Endowment setting capacity, target yield, and ratios under PoX-5. Additionally, an open medium-severity issue in the official stacks-core repository identifies a rollover flaw that awaits a public fix or mitigation.
Source & Fact-Check Note
This report is synthesized from coverage by CryptoSlate. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at CryptoSlate ↗
