Feb 26•2 min read
Cycle #78
We have received 2.09651550 BTC as rewards.
Dust transactions
There are many dust rewards of 200 sats and 550 sats. We started to ignore these utxos because consolidating them is more expensive then their value. That means that a few sats will rest in the pox reward address. Fpr this cycle, there were 63,600 sats left in the wallet after reward distribution. This is something to keep in mind when doing accounting.
Consolidation Part 1
After 1 week, we
consolidated 1.26685100 BTC - 0.00571096 BTC fees to proxy address:
https://mempool.space/tx/630ec976a7b4e7128b9f4fb8f8fd585735b57690f1232f808cb23d485cbad942
Consolidation Part 2
After the cycle, we consolidated BTC
consolidated 0.82955000 BTC - 0.00308700 fees to proxy address: https://mempool.space/tx/d747801133cef576b0341e6f1e478b488867c0a96712cfe1a23cf4b02eb17918
Total Rewards
After the second consolidation we swapped
1.98325756 BTC to 39,478.70139 STX via aBTC:
a) BTC to swap pool: https://mempool.space/tx/096f4a6deb415bdfb538a318478d387ff84be3957101f71b18f5ab966209d86e
b) swap pool to STX: https://explorer.hiro.so/txid/0x4ce0cab78edb700f9dd24f3c4e58beaee9f757083f1a0baa3ebb294ef591abc2?chain=mainnet
A total of 39,478.700719 STX were distributed to 1360 pool members and 2 contracts. The distribution was based on 48,359,514.769353 STX.
Preparing for Nakamoto Release (5% reserve)
This year, the Nakamoto hard fork will bring sBTC. This means that we will replace aBTC with sBTC. The flow will be similar: wrapping to sBTC, then exchanging to STX and distributing.
However, stackers need to do more work eventually, run stacks and a signer node. We are preparing for that and put around 5% of the rewards aside. We started to build up infrastructure and it will allow us to operate Stacks 3.0 signer nodes.
For cycle #78, we sent 0.10432905 to the reserve. That is around 5% of the consolidated BTC rewards. Unfortunately, a dust output was created due to an issue with the wallet.
Wrapping using aBTC
The rewards were wrapped from BTC to STX via aBTC. This worked quite well and fast. It is transparent and minting aBTC happens automagically. You can read more about aBTC at https://docs.alexgo.io/bitcoin-bridge/abtc-a.k.a-alex-btc
