Core Foundation Launches Fusion Upgrade, Enhancing Bitcoin Staking Capabilities
TL;DR
The Fusion Upgrade enhances Bitcoin staking rewards, making it more dynamic and rewarding for users, giving them an advantage in the BTCfi space.
Dual Staking and LstBTC are two key features that boost BTC staking rewards and maintain the liquidity of Bitcoin, redefining the potential for Bitcoin staking.
The Fusion Upgrade makes the Bitcoin staking ecosystem more sustainable and scalable, offering users a chance for sustainable returns in the BTCfi space.
The Fusion Upgrade introduces Dual Staking and LstBTC, revolutionizing the Bitcoin staking experience and offering a solution to the challenge of choosing between staking and liquidity in the DeFi space.
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The Core Foundation has announced a major update to the Core blockchain, dubbed the Fusion Upgrade, which aims to revolutionize Bitcoin staking. This upgrade introduces two key features: Dual Staking, which is already live, and Liquid Bitcoin Staking (LstBTC), set to launch soon. These innovations are designed to enhance the staking experience and attract more participants to the Bitcoin DeFi ecosystem.
Dual Staking allows users to earn increased rewards by staking both Bitcoin and CORE tokens simultaneously. This feature addresses the growing demand for more lucrative staking options in the cryptocurrency space. Meanwhile, LstBTC introduces a liquid staking token pegged 1:1 with Bitcoin, enabling BTC holders to earn daily rewards in CORE tokens while maintaining the liquidity of their Bitcoin assets.
Rich Rines, Initial Contributor to Core, emphasized the significance of this upgrade, stating, "Core is elevating the possibilities of Bitcoin staking and making the ecosystem more dynamic and rewarding for users." The Fusion Upgrade is expected to improve scalability and yield enhancements, potentially attracting new participants to the BTCfi space.
The Core blockchain has already made significant strides in the Bitcoin staking arena, having launched the first non-custodial Bitcoin staking protocol that has secured over 7,600 BTC. As the only end-to-end BTCfi solution, Core offers both a Bitcoin staking yield product and a Bitcoin-secured smart contract platform. The blockchain has also achieved approximately 75% of Bitcoin's hashrate delegated to its security, further solidifying its position in the market.
This upgrade could have far-reaching implications for the cryptocurrency industry, particularly in the realm of Bitcoin DeFi. By offering enhanced staking rewards and introducing new liquidity options, Core is positioning itself as a leader in the evolving landscape of cryptocurrency staking and yield generation. The Fusion Upgrade may attract more investors and users to the Core ecosystem, potentially increasing the total value locked (TVL) in Core-based applications and driving further innovation in the space.
Curated from BlockchainWire
