PANews reported on August 14th that Parity Technologies, the parent company of Polkadot, tweeted that Parity co-founder Gavin Wood will resume his CEO role at the end of August, replacingPANews reported on August 14th that Parity Technologies, the parent company of Polkadot, tweeted that Parity co-founder Gavin Wood will resume his CEO role at the end of August, replacing

Gavin Wood to Restart Parity CEO Role at End of August

2025/08/14 09:48

PANews reported on August 14th that Parity Technologies, the parent company of Polkadot, tweeted that Parity co-founder Gavin Wood will resume his CEO role at the end of August, replacing the departing Björn Wagner. Wood, who was due to step down as CEO in 2022 to focus on protocol development, stated that his return stems from the fact that the architectural foundation has been laid and the market is ready. He stated that his return to the CEO role is intended to accelerate the next phase of growth.

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Botanix launches stBTC to deliver Bitcoin-native yield

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The post Botanix launches stBTC to deliver Bitcoin-native yield appeared on BitcoinEthereumNews.com. Botanix Labs has launched stBTC, a liquid staking token designed to turn Bitcoin into a yield-bearing asset by redistributing network gas fees directly to users. The protocol will begin yield accrual later this week, with its Genesis Vault scheduled to open on Sept. 25, capped at 50 BTC. The initiative marks one of the first attempts to generate Bitcoin-native yield without relying on inflationary token models or centralized custodians. stBTC works by allowing users to deposit Bitcoin into Botanix’s permissionless smart contract, receiving stBTC tokens that represent their share of the staking vault. As transactions occur, 50% of Botanix network gas fees, paid in BTC, flow back to stBTC holders. Over time, the value of stBTC increases relative to BTC, enabling users to redeem their original deposit plus yield. Botanix estimates early returns could reach 20–50% annually before stabilizing around 6–8%, a level similar to Ethereum staking but fully denominated in Bitcoin. Botanix says that security audits have been completed by Spearbit and Sigma Prime, and the protocol is built on the EIP-4626 vault standard, which also underpins Ethereum-based staking products. The company’s Spiderchain architecture, operated by 16 independent entities including Galaxy, Alchemy, and Fireblocks, secures the network. If adoption grows, Botanix argues the system could make Bitcoin a productive, composable asset for decentralized finance, while reinforcing network consensus. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication. Get the news in your inbox. Explore Blockworks newsletters: Source: https://blockworks.co/news/botanix-launches-stbtc
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BitcoinEthereumNews2025/09/18 02:37
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