DeFi Technologies launches Core Chain validator and stakes 1,498 Bitcoins

In May, the partners launched the first BTC ETP with yield in Scandinavia.

NEWS

DeFi Technologies will launch a validator node in the Core Chain and stake almost $100 million in Bitcoin

BTC

In it. Toronto-based DeFi Technologies will receive rewards for validating transactions and staking rewards through its subsidiary Valour.

Staking is made possible by the consensus mechanism compatible with Core's Ethereum Virtual Machine on its layer 1 blockchain, powered by BTC. Olivier Roussy Newton, CEO of DeFi Technologies, said:

"We are advancing in our mission of connecting traditional finance with innovative blockchain technology [...] This approach offers our investors a unique exposure to income and growth within the digital asset space."

Stakers maintain custody of their BTC throughout the blocking period and receive rewards on CORE tokens, which are reinvested in the product. CORE staking offers a reward of 11.66%.