George Town, Cayman Islands, Nov. 20, 2024 (GLOBE NEWSWIRE) — The Core Foundation, the entity dedicated to growing Core, the largest Bitcoin DeFi ecosystem, today announced the Core blockchain’s adoption of the Fusion Upgrade, a significant update to the Core blockchain that redefines the potential for Bitcoin staking. The Fusion Upgrade further fuses Core and Bitcoin together by implementing Dual Staking and Liquid Bitcoin Staking (LstBTC).
“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. “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.”
The Fusion Upgrade introduces two key features to enhance the staking experience: Dual Staking, now live, and LstBTC, set to go live soon.
1. Dual Staking:
This feature is a game-changer for Bitcoin stakers, enabling them to earn even greater rewards. Dual staking boosts BTC staking rewards for stakers of both Bitcoin and CORE tokens.
2. LstBTC – Liquid Staked Bitcoin Pegged 1:1 to BTC:
LstBTC is an ERC-20 liquid staking token pegged 1:1 with Bitcoin (BTC). This innovation enables BTC holders to earn daily rewards in CORE tokens while maintaining the liquidity of their Bitcoin—a solution to the longstanding challenge of choosing between staking and liquidity in the DeFi space.
Sustainable Staking and Unparalleled Scalability
The new upgrade underscores Core’s leading role in yield sustainability, particularly in Bitcoin staking. The introduction of liquid staking alongside a dual staking model not only enhances yields but also ensures scalability across the network.
Core continues to lead the Bitcoin staking revolution, having launched the first-ever non-custodial Bitcoin staking protocol that has secured over 7,600 BTC. As the only end-to-end BTCfi solution, Core offers both a Bitcoin staking yield product and a Bitcoin-secured smart contract platform. In addition to staked Bitcoin and CORE, the Core blockchain is also secured by Bitcoin miners who delegate hash power to earn CORE token rewards, offsetting declining Bitcoin block subsidies. Already, Core has attained ~75% of Bitcoin’s hashrate delegated to its security. With over 100 EVM-compatible dApps under Bitcoin miner and staker protection, Core is positioned as the #1 Bitcoin Scaling chain, empowering tens of thousands of daily active users and over $650 million in TVL. The upcoming “Dual Staking” and “LstBTC” products further solidify Core’s dominance, tying CORE and Bitcoin together in perpetuity.
For frequently asked questions about Dual Staking, visit https://docs.coredao.org/docs/FAQs/dual-staking-faqs. For more information about Core Foundation, please visit https://coredao.org/.
About Core
Core serves as the Proof of Stake layer for Bitcoin as the first enabler of Non-Custodial Bitcoin Staking, which secures a fully EVM-compatible BTCfi ecosystem. Since April 2024, over 7,600 BTC have been staked with Core, enhancing Bitcoin’s utility and security. Core is the most Bitcoin-aligned EVM blockchain with ~75% of Bitcoin mining hash power contributing to the network’s security. This breakthrough has amassed millions of Core adopters – over 26M unique addresses, 300M+ transactions, and over 650M TVL since its mainnet launch in January 2023.
