This change has been in the works since mid-2021, and included a dry run: we’ve been operating in these roles, but without the title changes, for the past three months to ensure a smooth transition. For Hiros and our partners, this will feel like business as usual.
So why the move, and why now? When we first saw the signs of hypergrowth for the Stacks ecosystem, we knew we had to rethink our plans and executive team structure to meet the new opportunities and challenges coming toward us. Just one year after launching, the Stacks ecosystem has outpaced the community’s wildest expectations: from 0 to 350+ million monthly API requests, 50,000 Hiro Wallet downloads, 2,500 Clarity smart contracts deployed, and dozens of companies launched. We’re now the largest and fastest growing Web3 project on Bitcoin.
Continuing to support developers, app builders, and Stacks startup founders from this stage to the next requires us to think bolder and bigger. That’s why in addition to becoming Hiro’s Executive Chairman, Muneeb has become CEO of Trust Machines, a new independent Stacks ecosystem entity that builds valuable Bitcoin applications as well as absorbs and helps other application teams at early stages. Trust Machines is coming out with a fresh round of funding — $150 million — to support the growth of the larger ecosystem.
Muneeb has always been a Day 1 builder. Now that Hiro has found its core purpose and has built a stellar management team to continue the mission, Muneeb can focus on other parts of the ecosystem to help Stacks teams grow and thrive.
Hiro, meanwhile, will double down on building new developer tools and services the ecosystem needs to turn vision into reality. Muneeb and the full board believe Alex’s deep experience with building developer products, including launching and growing Stack Overflow for Teams, combined with Diwaker’s outstanding technical leadership and long history with Stacks are essential to getting us there.
We’ll also be doubling down in terms of team growth: We’re doubling the team this year, and are about to kick off a massive hiring period. Come talk to us if you want to help build Stacks developer tools.
We’re looking forward to another incredible year for Stacks, Hiro, and Trust Machines in 2022, and we can’t wait to see what other exciting developments will come from the Stacks community.