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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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Grayscale announced the creation of Stacks and Near trusts yesterday, according to Jinse Finance. This is the first time Grayscale has created new virtual currency trusts since 2024. Grayscale stated that Stacks will help bring smart contracts and decentralized applications (dApps) into the Bitcoin ecosystem, which will increase institutional interest.
Stacks is a Bitcoin layer2 project founded in 2017. The initial version was completely tied to the Bitcoin UTXO mechanism, so the transaction speed was synchronized with Bitcoin, but the user experience was not satisfactory. The latest Nakamoto upgrade plan will be fully launched in August, bringing transaction speeds of around 10 seconds, greatly enhancing the interactive experience of the Stacks ecosystem.