Análise completa
| Métrica | Valor |
|---|
A waterfall, not a flat rate
Most staking mechanisms pay everyone the same rate off the same pool. PoX-5's reward waterfall is explicitly tiered: paired BTC+STX protocol bonds are the PRIMARY tranche and get paid their target yield first out of each cycle's real Bitcoin miner revenue. Only what's left over after the primary tranche is satisfied flows down to STX-only stakers (a secondary tranche) and into a reserve buffer built specifically to smooth over cycles where miner revenue comes in light. Being a qualifying protocol bond — BTC timelocked, STX paired at or above the 5% minimum ratio — is what buys you that front-of-the-line position.
The 3,000 BTC initial-phase capacity cap matters for the same reason a limited-seats waterfall matters anywhere: it's not that later participants earn a worse rate, it's that a full cap means no primary-tranche slot is available at all until capacity opens up (bonds mature, capacity is raised in a later SIP, etc.). This calculator's capacity-share number is informational context, not a live queue position.
Perguntas frequentes
What is Stacks Bitcoin Staking (PoX-5)?
Bitcoin Staking is an upgrade to Stacks' Proof-of-Transfer (PoX) consensus, formalized as SIP-045, that lets BTC holders earn Bitcoin-native yield without giving up custody — your BTC stays timelocked on the Bitcoin L1 itself (or as sBTC via L2 smart contracts), paired with a corresponding STX lock on the Stacks chain, for a 6-month "protocol bond" period. It's the first mechanism of its kind where the BTC literally never leaves Bitcoin's own chain while still earning yield paid out in BTC.
Why do I need to pair STX with my BTC, and what's the 5% minimum ratio?
The STX lock is what gives your BTC position voting/consensus weight in Stacks' Proof-of-Transfer mechanism — pairing STX alongside BTC is what makes a "protocol bond" eligible for the primary (first-paid) tranche of the reward waterfall. PoX-5's initial phase sets a minimum STX ratio of 5% relative to the paired BTC's value; fall short of that ratio and your position doesn't qualify for primary-tranche treatment, though STX-only stakers still participate as their own separate tranche.
How does the reward "waterfall" actually work?
Miner revenue collected each cycle gets distributed in a strict priority order, like a waterfall filling successive tiers: paired BTC+STX protocol bonds are the primary tranche and get paid their target yield (3% APY in BTC for PoX-5's initial phase) FIRST; whatever miner revenue is left over after that gets split between STX-only stakers (a secondary tranche) and a reserve buffer that exists specifically to smooth over cycles when total miner revenue runs light. Being in the primary tranche is what the BTC pairing buys you — priority, not just participation.
What is the 3,000 BTC capacity cap?
PoX-5's initial launch phase caps total program participation at roughly 3,000 BTC of paired protocol-bond capacity — a deliberate ceiling while the mechanism is new, not a permanent limit. If aggregate demand exceeds that cap, later stakers may not get a primary-tranche slot even with a qualifying STX ratio; this calculator's capacity-share figure is purely informational, based on the publicly stated initial-phase number, and the real cap can change as Stacks' 2026 roadmap phases progress.
Is the 3% APY guaranteed?
3% is described as the PoX-5 initial-phase TARGET yield for the primary tranche, not a fixed guarantee — actual payout still depends on real Bitcoin miner revenue flowing through the PoX mechanism each cycle. The waterfall's reserve buffer exists precisely to absorb shortfalls in low-revenue cycles, but a reserve buffer of finite size can still be exhausted in a sustained downturn in miner fees, so treat the target rate as the mechanism's design intent rather than a contractual promise.