Back to the Blog Main Page
12/06/24
227
DeFi Technologies to Stake 1,498 BTC on the Core Chain
On June 11, DeFi Technologies announced its deployment of a Core Chain validator node to act as an independent validator for the network. This comes as the firm is working on its DeFi Infrastructure business line, with plans to stake 1,498 BTC on the Core Chain to earn rewards via its subsidiary, Valour.
Last month, the firm announced a strategic collaboration with the Core Foundation to develop innovative Bitcoin Exchange Traded Products (ETPs). They also want to introduce pioneering products like Valour’s Yield Bearing BTC ETP and a forthcoming nascent CORE ETP.
This will be achieved by adopting Bitcoin-powered Core Chain towards introducing yield opportunities via BTC staking. Core Chain is an EVM-compatible blockchain that facilitates the integration of BTC miners and BTC stakers into its security to earn rewards.
DeFi Technologies will process transactions and participate in Core’s consensus mechanism to support the Core Chain network’s performance and growth. The firm can also receive rewards for securing transactions by running the node.
“By staking 1,498 BTC and participating in network consensus, we are advancing our mission to bridge traditional finance with innovative blockchain technology, specifically leveraging Bitcoin’s potential. This approach offers our investors unique exposure to yield and growth within the digital asset space,” said Olivier Roussy Newton, CEO of DeFi Technologies.
Valour’s BTC Staking ETP was launched on the Nordic Growth Market exchange last month with the Swedish krona as the base currency. The firm claims the product is the first BTC ETP bearing yield, offering exposure to BTC at a 5.65% yield and 1.9% management fee.
Other ETPs provided by Valour are backed by twelve other coins, including Polkadot and Uniswap, and some of them do not have management fees.
Promotions
