Bitcoin Revolution: Staking Now Available on Core Chain, Enabling BTC Yield

Core Chain introduces the unique opportunity to stake Bitcoin without wrapping or losing custody, enabling BTC holders to earn yield through the Satoshi Plus consensus mechanism. Additionally, DeFi Technologies' subsidiary, Valour, launches a yield-bearing BTC exchange-traded product (ETP) and a Core ETP, providing investors with increased access to Core's staking opportunities.

Bitcoin Staking Arrives: Core Chain Enables Proof-of-Work Token Yield

In a groundbreaking development, Core Chain, a Bitcoin-powered layer-one blockchain, has introduced the ability for investors to stake their BTC, a previously unavailable option for holders of the world's leading cryptocurrency.

Staking tokens involves committing assets to a blockchain network and earning rewards in the form of a yield, typically in the single digits, over a period of time. This concept has been exclusive to proof-of-stake blockchains, where users participate in the consensus mechanism to validate transactions and secure the network.

However, Core Chain's innovative Satoshi Plus consensus mechanism, which combines Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS), has enabled BTC holders to reap the benefits of staking without compromising the security and decentralization of the Bitcoin network.

This development represents a significant milestone in the evolution of Bitcoin, expanding its utility beyond traditional trading and holding. Core Chain believes that enabling BTC staking will further strengthen its Ethereum Virtual Machine-compatible blockchain.

"Previously, traders could only stake Bitcoin by wrapping the token or losing custody of their assets," explained Core Chain representatives. "Our new offering requires neither, making it a first-of-its-kind non-custodial BTC staking solution."

Yield-Bearing BTC ETPs and Core ETPs Launched

Alongside Core Chain's announcement, DeFi Technologies Inc.'s subsidiary, Valour, has unveiled the launch of a yield bearing BTC exchange traded product (ETP) and a novel Core ETP in collaboration with the Core Foundation.

The yield bearing BTC ETP will provide investors with yield directly from Core Chain's block rewards, offering a novel way to generate passive income from their Bitcoin holdings. The Core ETP, on the other hand, aims to widen investor access to Core's staking opportunities through indirect exposure.

"We are at a pivotal moment in the evolution of digital assets, where the boundaries between traditional finance and decentralized finance are merging," said Olivier Roussy Newton, CEO of DeFi Technologies. "By introducing yield-bearing opportunities to Bitcoin through these ETPs, we are enhancing its utility and offering investors new ways to engage with the world's premier cryptocurrency."

Valour also plans to manage a validator node on the Core Blockchain, with the intention of staking $100 million in BTC through the non-custodial BTC staking product.

Core Chain's Momentum

Core Chain's latest developments follow a period of positive momentum for the blockchain project. In March, the Core Foundation launched the Core Venture Network, committing $15 million to support builders across Africa, Latin America, and Southeast Asia.

A month later, Core announced a new NFT marketplace designed to operate natively on its blockchain. The project also introduced CoreBTC, a bridge to enable seamless transfer of BTC to the Core Chain. Subsequently, the CORE token experienced a significant surge in value, reaching a gain of 218% in just one week.

These advancements underscore Core Chain's commitment to driving innovation in the blockchain space and position the project as a promising platform for empowering investors with novel opportunities in the DeFi and NFT sectors.