Core, a proof-of-stake blockchain linked to Bitcoin, has achieved a major milestone by surpassing $260 million in dual-staked assets, driven by growing interest from institutional investors in Bitcoin-based decentralized finance. Over 44 million Core tokens have been dual-staked alongside 3,140 Bitcoin, allowing users to earn higher yields compared to traditional staking methods. This innovative dual-staking model enhances rewards significantly, with potential multipliers over 15 times. Core’s success is attributed to partnerships with major custodians like BitGo and Maple Finance, enabling institutions to turn Bitcoin into a productive, yield-generating asset without losing custody. The platform currently leads in total value locked among Bitcoin sidechains, reflecting a shift toward making Bitcoin more actively beneficial for users.
Core Surpasses $260 Million in Dual-Staked Assets as Institutional Interest Grows
Core, a unique proof-of-stake blockchain built on Bitcoin, has reached a significant milestone, amassing over $260 million in dual-staked assets. This achievement reflects the rising institutional interest in Bitcoin-based decentralized finance (DeFi).
As of April 7, more than 44 million Core tokens have been dual-staked with approximately 3,140 Bitcoin (BTC), showcasing the increasing appeal of Core’s innovative approach. Core’s dual-staking model allows Bitcoin holders to earn higher yields by staking their BTC alongside Core tokens. Users can indeed stake BTC separately, but combining it with Core tokens results in enhanced returns, with potential rewards multiplying by over 15 times depending on the number of tokens staked.
Growing Demand for Bitcoin Staking
The momentum behind this milestone can be linked to institutional investors who are integrating Core’s staking model into their operations. Key custodians such as BitGo, Copper, and Hex Trust are providing their clients with access to Core’s protocol, enabling dual staking features. In addition, a partnership with Maple Finance is set to introduce a structured asset that harnesses Core’s dual-staking model for yield generation.
Rich Rines, Core’s initial contributor, emphasizes that institutions are pivotal to the success of this dual-staking model. This collaboration not only offers institutions a way to convert Bitcoin into a yield-bearing asset but also offsets traditional custody costs, marking a significant shift in the Bitcoin ecosystem.
Bitcoin Becoming Productive
At this point, Core holds the largest total value locked among Bitcoin sidechains, estimated at over $400 million, with a 28% Market share. The rise in dual-staked Core tokens underscores the model’s efficacy. Rines notes that the over 44 million tokens staked indicate genuine adoption, with both retail and institutional users eager to make their Bitcoin work for them securely.
Core’s dual-staking system allows long-term Bitcoin holders to benefit without losing custody of their assets. This innovative approach signifies a new era for Bitcoin, transforming it into a productive investment option while promoting long-term user engagement.
Stay tuned as we follow more developments in Bitcoin and DeFi!
Tags: Core, Bitcoin, BTC, dual-staking, decentralized finance, DeFi, institutional investment, cryptocurrency news, blockchain technology
What is Bitcoin DeFi?
Bitcoin DeFi refers to decentralized finance projects that work with Bitcoin. It allows people to lend, borrow, and earn interest on their Bitcoin without traditional banks. This means users can control their funds directly.
Why is the Core blockchain significant?
The Core blockchain is important because it recently reached $260 million in dual-staked assets. This shows that people trust the platform. More assets mean more opportunities for users in the Bitcoin DeFi space.
What does dual-staked mean?
Dual-staked means that assets can be staked in two different ways or platforms at once. This can help users earn more rewards because their assets are working in multiple places at the same time.
How can I get involved in Bitcoin DeFi?
You can get involved in Bitcoin DeFi by creating a crypto wallet and finding a platform that offers DeFi services. From there, you can start staking your Bitcoin or participating in lending or borrowing.
What are the risks of Bitcoin DeFi?
Like any investment, Bitcoin DeFi comes with risks. Prices can be volatile, and there is a chance of losing money. It’s important to research and understand the platforms and practices before getting started.