KEY POINTS
- Hashnote customers can stake $CORE alongside their $BTC through Core's Dual Staking mechanism
- The integration taps into the multi-billion-dollar opportunity in Bitcoin L2s
- There is growing demand for 'secure, sustainable, and scalable Bitcoin yield solutions'
Leading digital asset manager Hashnote today announced a strategic integration with Core, the first and only Proof of Stake (PoS) layer for Bitcoin, offering investors with a unique and secure way to earn higher BTC returns without extra credit or risks associated with custody.
Hashnote will utilize Core's Bitcoin Staking mechanism to provide investors with the opportunity of earning yield on their Bitcoin holdings. The assets will be securely held by Hashnote or one of the leading custodians that are part of Hashnote's growing ecosystem.
Exploring a Multi-Billion-Dollar Opportunity
A recent Galaxy report on Bitcoin Layer 2 technology estimated that approximately $47 billion worth of BTC can be bridged into Bitcoin L2s by the year 2030, and Hashnote's strategic integration with Core is opening a pathway toward this multi-billion-dollar realm.
Core currently holds more than 31% of the Total Value Locked (TVL) share in the Bitcoin sidechain network, highlighting the growth opportunity for Core within the expanding Bitcoin Layer 2 ecosystem.
Under the integration, Hashnote will provide investors with the opportunity to enhance their BTC returns by staking the Core chain's native token, CORE, alongside their Bitcoin, through Core's Dual Staking feature.
🚨 Dual Staking is live! 🚨
— Core DAO 🔶 (@Coredao_Org) November 20, 2024
Enhance your Bitcoin yield at https://t.co/x8xTpyKiI0 pic.twitter.com/arTvixiMlM
Hashnote will oversee the entire process, staking a specified amount of CORE coins on the Core blockchain to amplify Bitcoin rewards. This process offers a "Bitcoin-like exposure," but with the added yield benefits.
"We at Hashnote strongly believe in the vision behind Core. We see their approach as a solid foundation for building a sustainable and innovative blockchain ecosystem," Hashnote CEO and founder Leo Mizuhara said in a press release shared with International Business Times.
"This collaboration showcases the growing demand for secure, sustainable, and scalable Bitcoin yield solutions, especially for institutions. Hashnote's leadership in this space sets the stage for an exciting new era of Bitcoin DeFi," said Hong Sun, an institutional contributor at Core.
The integration positions Hashnote as an early participant in Core's Dual Staking feature, which solidifies Bitcoin from a store of value into a secure and yield-bearing digital asset.
A Path Toward Unique and Secure Avenues to Earn on $BTC Holdings
Hashnote's early adoption of Dual Staking contributes to the Core blockchain's long-term economic security. More importantly, the integration enables the crypto asset manager to offer a safe and stand-out way to earn higher returns on Bitcoin holdings that otherwise could have just been waiting for price pumps.
The best part is, users don't have to worry about additional credits or risks related to digital asset custody since Core's BTC staking mechanism is fully non-custodial.
