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BTC 
STX Stacks officially activates the PoX-5 hard fork, opening a new chapter in Bitcoin pledge
Stacks has officially activated the PoX-5 hard fork, which is a terminal upgrade of its transfer proof consensus mechanism, further deepening Bitcoin and STX. The connection between. This activation marks an important step for the network and lays the technical foundation for self-custodial Bitcoin pledges.
Changes brought by PoX-5
Stacks activated the PoX-5 hard fork at the Bitcoin block height of 960,230, adding consensus infrastructure to Bitcoin pledges. The core of this upgrade is a new product called "Bitcoin Bonds". The product allows users to lock Bitcoin on the Bitcoin network and pair it with STX on Stacks, thereby earning bitcoin-denominated revenue while retaining control of the Bitcoin key.
The participation method is as follows: Bitcoin holders use a time-lock mechanism to lock their BTC on the Bitcoin first-layer network and pair it with STX. The entire process requires no bridging or managed transfer. There is a capacity cap of 3000 BTC during the initial start-up phase, with an expected annualized rate of return of approximately 3%(paid in BTC) and a minimum STX pairing ratio of 5%.
In terms of income distribution, PoX-5 introduces a waterfall distribution model. Holders of negotiated bonds are at the top of the payment queue, with an initial target annualized rate of return of about 3%. Only users who pledge STX will receive 85% of the remaining income, while negotiated reserve funds absorb the remaining 15%.
What does the pledger need to do now
During the upgrade process, all STXs promised through previous contracts will be unlocked because the pledge will be migrated to the new PoX-5 contract. Users must re-pledge before the Bitcoin block height of 962,050 to receive the reward for the first cycle after the hard fork. Independent pledgers can re-pledge immediately after the upgrade is activated, while pool pledgers need to wait for their service provider to update their infrastructure and reopen pledges.
Holders who have not actively pledged do not need to take any action. This hard fork will not generate new tokens and will not affect the STX balance, wallet address or private key. Major exchanges are currently monitoring network stability before reopening recharge and withdrawal functions.
After activation, Stacks plans to launch Bitcoin pledges starting from the institutional-level "Genesis Bond" in late August, and then gradually open up capacity to more participants. The PoX-5 codebase has been audited by Trail of Bits and Clarity Alliance and received additional review from Asymmetric Research.
