Demex Daily #142: Stacks Set for Major Nakamoto Upgrade to Boost Bitcoin Layer 2

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Stacks, a prominent Bitcoin Layer 2 network, is gearing up for its largest hard fork yet, dubbed the Nakamoto upgrade. This significant update aims to establish Stacks as a true Layer 2 by reducing block times dramatically from the current 10 minutes to just five to ten seconds. It will achieve this by decoupling Stacks’ block times from Bitcoin’s, enhancing the network's resistance to block reorganizations. Trust Machines supports the upgrade, which is poised to extend Bitcoin’s functionality, particularly in the DeFi sector. Unlike many in the crypto space, Stacks will not support Ethereum's EVM but instead plans to collaborate with networks like Near Protocol, Solana, and Aptos. The hard fork is planned for the first week of June.

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The mobile strategy game Heroes of Mavia has delayed its Ethereum token unlocks after its MAVIA token dropped 65% from its peak price following its February launch. Originally planning to double its circulating supply within a year, the game's team has now adjusted the schedule to keep the circulating supply under 14% until February 2025. Despite an initial price surge following the announcement, MAVIA's price quickly fell as holders sold off their tokens. The game, similar to Clash of Clans, plans to integrate an in-game NFT marketplace using the Ethereum layer-2 network, Base.