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This Week in sBTC - July Recap
July 31, 2023
Dear Bitcoiners,
Bitcoin Summer is here and sBTC is sprinting ahead. There’s been a lot happening over the last few weeks, so let’s dive in.
ICYMI:
🏃♂️The sBTC working group kicked off a ten week sprint, focusing on critical areas of development and streamlining core engineering efforts.
The goals for the sprint are as follows:
✅ sBTC v0.1 goes live as a smart contract — without consensus breaking changes. This will allow us to simplify the go-to-market and start testing under live conditions.
✅ Nakamoto consensus changes, which significantly improve the speed and security of the Stacks network, go live on testnet.
✅ Improvements to testing infrastructure
🎯 There has been significant operational changes to improve communication and collaboration across all contributors in the working group; as well as increased organization and clarity on project scopes.
🧠 This will allow us to ship safer, faster, better code.
🔗 The sBTC project board has moved to the new Core Engineering Github repo.
👉 For more information on the current sBTC engineering initiatives, check out the following documents:
Ready Layer 2: Bitcoin Pitch Competition
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/34e4eb72-2e6a-4576-bead-f6980275e169/Ready_l2_master.png)
Ready Layer 2 is a Bitcoin Pitch Competition focused on generating new ideas and business models for sBTC. The event will be hosted virtually on August 18. Register here.
Q1 2023 sBTC Objective & Key Results
Here’s an overview of the objectives for Q3 2023.
Objective 1: Deliver sBTC Developer Release
sBTC version 0.1 is a developer focused release to enable early testing in live environments. This is a key step on the way toward the Nakamoto release that will support sBTC without consensus breaking changes.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/dfb8aca7-40cf-4c45-be31-8cdcdfd264bf/Screen_Shot_2023-07-31_at_12.00.24_PM.png)
Objective 2: Create an sBTC SDK for developers
This will allow us to validate and test future sBTC versions, and make it much easier for developers to integrate their apps with sBTC.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/9acbd5f9-eed8-4c36-a795-fb1886c110aa/Screen_Shot_2023-07-29_at_1.18.28_PM.png)
Objective 3: Engage participation in early sBTC releases
We aim to get early and iterative feedback on sBTC, to improve the core product and build sustained momentum over time.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/fc3df556-8eef-4737-ad78-2efa5bbae460/Screen_Shot_2023-07-29_at_1.19.01_PM.png)
🌎 Around the Ecosystem
Why Bitcoin DeFi will be built on Stacks - from the perspective of Zest protocol
Introducing Papaya, an open-source, transparent, liquid stacking solution with automated onboarding of PoX rewards as sBTC
Bitcoin Hermetica 🧵: Bitcoin’s Magic Comes to Life with Stacks
The Rise of Bitcoin Layer 2 - by Trust Machines