KEY POINTS
- Dual Staking boosts $BTC staking rewards for stakers of both Bitcoin and $CORE tokens
- LstBTC is an ERC-20 liquid staking token pegged 1:1 with Bitcoin that earns $BTC rewards in $CORE
- The upgrade is expected to enhance the experience for current stakers and also attract new participants in BTCfi
The Core Foundation, the entity dedicated to growing Core, the largest Bitcoin DeFi ecosystem, has announced that the Core blockchain is adopting Fusion Upgrade, marking a significant step-up in the blockchain's potential for BTC staking.
The Fusion Upgrade further fuses Core and Bitcoin together by implementing two major features that should enhance users' staking experience: Dual Staking, now live, and Liquid Bitcoin Staking (LstBTC), which is set to go live soon.
What is Dual Staking?
In the game-changing Dual Staking feature, BTC stakers can now earn even greater rewards as it boosts Bitcoin staking rewards for stakers of both BTC and CORE tokens.
The feature is transforming Bitcoin and solidifying the role of the world's largest cryptocurrency by market cap from a store of value into a secure, yield-bearing asset.
🚨 Dual Staking is live! 🚨
— Core DAO 🔶 (@Coredao_Org) November 20, 2024
Enhance your Bitcoin yield at https://t.co/x8xTpyKiI0 pic.twitter.com/arTvixiMlM
What is LstBTC?
LstBTC is an ERC-20 liquid staking token pegged 1:1 with Bitcoin. The innovative token enables Bitcoin holders to earn daily rewards in CORE tokens while retaining their Bitcoins' liquidity.
The new liquid staking token resolves the longstanding challenge among DeFi users, which is choosing between staking or liquidity.
Ushering in an Era of Sustainable Staking
Core has long been committed to yield sustainability, and the Fusion Core upgrade is further enhancing sustainable yields, particularly in BTC staking.
"With the launch of Fusion, Core is elevating the possibilities of Bitcoin staking and making the ecosystem more dynamic and rewarding for users," said Rich Rines, Initial Contributor to Core, in a statement shared with International Business Times.
"This upgrade delivers scalability and yield enhancements that will not only improve the experience for current stakers but also attract new participants looking for sustainable returns in the BTCfi space," he added.
Unparalleled Scalability to Revolutionize $BTC Staking
Core is leading the metamorphosis of Bitcoin staking following its launch of the first-ever non-custodial BTC staking protocol that has secured over 7,600 Bitcoin.
Notably, Core is the only end-to-end BTCfi solution that offers both a Bitcoin-secured smart contract platform and a BTC staking yield product, offering users a secure and efficient avenue to stake Bitcoin and CORE.
The Core blockchain has over 100 EVM-compatible decentralized apps (dApps) under BTC miner and staker protection, positioning the chain as the Top 1 Bitcoin scaling chain.
There are now millions of Core adopters since the mainnet launched in January 2023. So far, the chain has logged more than 28 million unique addresses and facilitated over 300 million transactions. It has also passed $900 million in TVL (total value locked), making it a widely trusted Proof-of-Stake BTC layer.
