BTCFi stands for Bitcoin Finance, a decentralized financial ecosystem built on the Bitcoin blockchain. It aims to provide financial services like lending, borrowing, and trading directly on the Bitcoin network without the need for intermediaries. This system leverages smart contracts and other blockchain technologies to create a secure, transparent, and efficient financial environment for Bitcoin users.
This is Unlocking BTCfi #1 — a fresh take on Core’s journey to the center of BTCfi.
With so much happening in the world of Core, let’s dive deeper into some of the big picture things happening with Core and how it’s all unlocking over $1.3 trillion in BTC value and bring BTCfi to life. That’s what we’ll do in this weekend’s newsletter, brought to you every other Friday. And don’t forget, for all the updates on the Core ecosystem, check out the newly launched newsletter by Token Relations! This is the first issue, so view it as an intro diving into one of Core’s most unique offerings, the first-ever implementation of Non-Custodial BTC Staking.
Core is the first ecosystem to bring Defi to Bitcoin w/ Non-Custodial Bitcoin Staking
Over 1,600 BTC staked worth +$100 Million
That’s right, Core is quickly becoming the go-to network for Bitcoin’s most basic function: HODLing. Core enables Bitcoin users to continue to hold their BTC on Bitcoin, while now also earning yield Naturally, Core is becoming a popular place for Bitcoin storage. While Bitcoin remains the ultimate store of value, Core blockchain is where the magic happens — where staked BTC secures a vast ecosystem of Bitcoin financial applications. With Core, staking is only the beginning. BTC storage may be best on Bitcoin rails, but Core is the future of where Bitcoin value is created, sent, and shared.
Bitcoin is Strengthening the Core Network
Bitcoin staking is a game-changer for the Core ecosystem’s security and utility. By adding BTC staking to Satoshi Plus, Core can gradually benefit from Bitcoin’s $1T+ value storage, bolstering security to Core dapps, CORE holders, and the broader ecosystem. As Core becomes the go-to destination for BTC value, the Core ecosystem becomes the perfect playground for all things Bitcoin. Liquidity, innovation, and utility continue to grow. BTC Staking is the first step towards Core becoming the end-to-end destination for Bitcoin finance by introducing Bitcoiners and their BTC to Core. With Core, BTC is doing something it’s never done before: earning yield. The next step is unlocking more utility to BTC by introducing it to a holistic financial landscape fine-tuned for Bitcoiners. As liquid BTC staking and other mechanisms encourage more BTC to flow onto Core blockchain rails, the Core ecosystem grows even stronger. With BTC flowing into Core dapps, BTC DeFi liquidity can live on Core. Every major on-chain financial action a Bitcoiner commits can deliver value to the Core network and Bitcoin network alike. The CORE token becomes the gas token for Bitcoin finance. Digital Gold (BTC) has met its digital oil (CORE) counterpart. Even further down the line, Core’s BTC Staking can continue to unlock value for the Core ecosystem, particularly with BTC restaking. In the future, BTC staked with Core can be reused to secure other platforms, creating new rewards streams to flow back to Satoshi Plus participants. If Core is the primary driver of this BTC-secured multi-chain future,s Core will be the most valuable security provider in the blockchain universe.
Bitcoin reads:
- DeFi Tech Global Subsidiary Valour Funds Introduces World’s First and Only Yield Bearing BTC ETP in Collaboration with Core Foundation, to German Investors. Dive in!
- Germany’s Deutsche Telekom looking to mine Bitcoin, Chinese telecom Coolpad adds hashrate. Read more.
- Bitcoin staking is now available on Element Wallet, Initially built for Core participants, Element provides a simple, safe, and fun Web3 mobile interface for everyone.
- Core’s BTCfi Summer Hackathon is accepting applications. Apply here.
BTW — If you want to learn more about Bitcoin DeFi and how Core blockchain makes it possible from a technical perspective, read the vision paper, https://www.coredao.org by Core. Stay tuned for more exciting updates in the next edition of Unlocking BTCfi!
