The current architecture for the Syvita Stacks Mining Pools leverages DLC technology as a way to enable smart Bitcoin transactions that are secure and trustless. It is also a requirement that the pool participants’ funds be held non-custodially, to reduce regulatory overhead.
DLC.Link can provide the management and integrations from Clarity smart contracts to a trusted DLC oracle server solution. DLC.Link integrates closely with the Stacks blockchain, and can provide DLC management controlled by transactions on the Stacks blockchain through Clarity.
10 miners (pool participants who stake Bitcoin to earn STX rewards)
each lock .5 Bitcoin into several DLCs (one per user) with the Bitcoin Lender.
The Lender loans 5 Bitcoin to the Syvita Protocol from their own source of funds. Syvita uses this Bitcoin to mine new STX.
When mining is complete, the mined STX rewards are transferred to the individual miners who locked Bitcoin into the DLC with the Lender. When the STX rewards are transferred, the DLC.Link smart contract should (either automatically or manually) notify the DLC Oracle servers that the DLC should be closed. This finalizes the transfer of each .5 Bitcoin (plus interest) as repayment to the lender.
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Syvita needs DLCs (Discreet Log Contracts) created, one for each . This should be done in a non-custodial way, as to simplify regulatory requirements.
Stacks mining requires a large amount of Bitcoin in order to participate successfully.
Therefore, there is a need for having the ability for pooling together multiple users’ Bitcoin to be an effective miner.
Syvita is taking on this challenge with the Syvita Stacks Mining Pools.
Arkadiko is a decentralized, non-custodial liquidity protocol where users can collateralize their STX tokens and borrow a stablecoin called USDA.
It enables you to gain increased liquidity in the form of a soft-pegged US Dollar stablecoin, while maintaining original asset exposure.
A big challenge and risk today is using Bitcoin in DeFi.
Because the Bitcoin blockchain does not natively communicate with other blockchains, there isn't a secure way to transfer, deposit, or lend your Bitcoin out without entrusting a custodian such as wBTC and opening yourself up to smart contract and third-party risk.