Bitcoin DeFi booms as Core blockchain hits $260M in dual-staked assets
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Core’s Rich Rines told Cointelegraph that the success of its staking model shows there’s a way for Bitcoin to be more productive.
Core, a proof-of-stake blockchain built on Bitcoin, has surpassed $260 million in dual-staked assets as institutional interest in Bitcoin-based decentralized finance (DeFi) continues to grow.
Core’s initial contributor, Rich Rines, told Cointelegraph that as of April 7, over 44 million Core tokens have been dual-staked with 3,140 Bitcoin (BTC). At the time of writing, the assets are worth about $260 million.
Core’s dual-staking model lets Bitcoin holders earn higher yields with CORE tokens. While users can stake BTC at a lower rate, those who stake BTC with Core tokens get an enhanced yield.
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