BTC Protocol Bond Participants

Native BTC protocol bond participants lock BTC on Bitcoin L1 under their own keys and pair that position with locked STX on Stacks. In PoX-5, they are usually whitelisted institutional partners with negotiated capacity, and they receive first-priority Tranche 1 BTC yield if their allocation, L1 lock, and STX commitment remain valid.

Registration is gated by full BTC SPV proofs: for each L1 lockup output, the participant submits the Bitcoin block header, the merkle inclusion path, the raw transaction, and the output index to register-for-bond. The contract verifies the header, the merkle proof, and that the output's script-pubkey matches the expected P2WSH lockup script derived from the participant's parameters before recording the membership.