Stacks ecosystem TVL surpasses $600 million, establishes operational entity and launches $500 million STX donation fund.

According to Mars Finance, the total value locked (TVL) of the Bitcoin Layer 2 network Stacks is expected to exceed $600 million in August 2025, mainly driven by the growth of sBTC bridging Bitcoin assets. An independent operating entity, Stacks Labs, has been established, with Hiro Systems CEO Alex Miller serving as the interim head, responsible for protocol development and ecosystem expansion. The Stacks Endowment fund has officially launched, with 500 million STX (worth hundreds of millions of dollars) allocated over the next five years for developer grants, DeFi incentives, and market expansion. Previously, the SIP-031 governance proposal passed with a support rate of 97.5%, setting a voting record of 303 million STX. The foundation has set up a dedicated page to track the progress of Stacks Labs and the donation fund, but has not disclosed a specific funding allocation timeline.