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Stacks Ecosystem Q1 2026: sBTC TVL Reaches $545 Million; Zest Protocol TVL Rises to $75.9 Million

Stacks Releases Q1 2026 Ecosystem Metrics: sBTC Total Value Locked (TVL) Reaches $545 Million, and Deposit Caps Have Been Fully Removed; Decentralized Finance (DeFi) Active Deployed Capital on the Stacks Protocol Stands at $121 Million—Zest Protocol TVL Accounts for $75.9 Million, Granite $26 Million, and StackingDAO $20 Million. During the Same Period, the Bitcoin Staking Pilot Product Dual Stacking App Attracted Over $100 Million in Participating Capital. On the Infrastructure Front, Integrations with Fireblocks, BitGo, Circle, and Nansen Are Now Live. Regarding Network Upgrades, Stacks Completed Version 3.3.0.0.6 in March 2026, and SIP-034 Enhancements Increased Network Capacity by up to 30x.

Ondo Finance Submits No-Action Request to the SEC to Advance On-Chain Operations of Its OGM Product

According to Ondo Finance’s official blog, Ondo Finance recently submitted a “no-action” request to the U.S. Securities and Exchange Commission (SEC), seeking confirmation from the SEC that it will not take enforcement action against Ondo’s model for recording and managing certain security interests in tokenized form on the Ethereum mainnet. The request concerns its Ondo Global Markets (OGM) product, which currently offers non-U.S. investors tokenized notes providing exposure to U.S. equities and ETFs. Under this model, the underlying securities remain within the existing legal, custodial, and recordkeeping frameworks; official books and records remain unchanged. Only in limited circumstances are the relevant security interests mapped onto the Ethereum mainnet in tokenized form, held by custodian BitGo to support recordkeeping and operational processes.