The Core Foundation announced on Thursday that it has launched a BTC-backed liquid staking token on the Bitcoin-backed Layer 2 “Core” network. 🎉

The token, called LstBTC, is an ERC-20 token pegged 1:1 to BTC and will provide daily rewards to its holders.

According to the Core DAO, staking rewards will be paid in CORE tokens. This aims to revitalize the Core ecosystem.

The new token offers BTC holders the opportunity to earn passive income without locking up their assets.