DeFi Technologies Stakes $100M Bitcoin on Core Chain Validator

DeFi Technologies has launched a validator node on Core Chain and staked 1,498 Bitcoin (BTC), worth approximately $100 million. This move demonstrates the company's ongoing commitment to bridging traditional finance with blockchain technology and its focus on Bitcoin as a core treasury asset.

Key Points:

• Staking Rewards: DeFi Technologies will receive rewards for validating transactions and staking rewards through its subsidiary Valour.
• Core's Consensus Mechanism: Staking is enabled by Core's Ethereum Virtual Machine-compatible consensus mechanism on its layer-1, BTC-powered blockchain.
• Custody and Rewards: Stakers retain custody of their BTC throughout the lockup period and receive rewards in CORE token, which is reinvested in the product.
• Security Measures: Core maintains security by distributing 50% of BTC mining hash power to the blockchain itself.
• Existing Collaboration: DeFi Technologies and Core previously launched the first yield-bearing BTC ETP in Scandinavia using the Swedish krona as the base currency.
• Expansion Plans: The partners intend to launch a Core ETP that will offer yield through BTC staking.
• BTC Reliance: DeFi Technologies has recently pivoted towards greater dependence on BTC, adopting it as its primary treasury reserve asset and purchasing 110 BTC.