Bitcoin L2 project Stacks announces the launch of sBTC, a 1:1 Bitcoin-backed asset that allows developers to create productive use cases for BTC, promoting more applications in Bitcoin DeFi, NFTs, and beyond. Users mint sBTC on Stacks after depositing BTC into a multi-signature protocol monitored by a decentralized group of Stacks signers on the mainnet. The current deposit limit is 1,000 BTC. The estimated annualized BTC reward is 5%, with rewards distributed every two weeks.