Core Launches Non-custodial Bitcoin Staking and Partners with DeFi Technologies’ Wholly Owned Subsidiary Valour to Launch Innovative Bitcoin ETP

24-04-17 19:30

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Original source: Core

TL;DR

· Core launches non-custodial Bitcoin staking, a feature that makes Bitcoin an asset that can continuously earn liquidity returns for the first time in history.

· DeFi Technologies Inc. Launches Innovative Bitcoin ETP: DeFi Technologies Inc. and Valour have partnered with the Core Foundation to launch groundbreaking exchange-traded products (“ETPs”), including the first yield-generating Bitcoin ETP and a new Core ETP built using the unique blockchain capabilities of the Core network.

· More Income Opportunities with Bitcoin: The BTC Yield ETP introduces a new era for Bitcoin as an active income investment asset that leverages Core’s block rewards to expand Bitcoin’s utility without leaving the Core network.

· Validator Node Management and Bitcoin Staking: Valour Inc. will manage a validation node on the Core network, enhancing network security and efficiency, while Valour will stake $100 million worth of BTC, further solidifying the partnership and merging traditional finance with innovative blockchain technology.

Introduction

Core announced the launch of Non-custodial Bitcoin Staking on April 17, 2024, making Bitcoin an asset that can continuously earn liquidity returns for the first time in history. With ETFs opening up Bitcoin ownership, and the upcoming Bitcoin halving, miner rewards will decrease - non-custodial Bitcoin staking provides more opportunities for all Bitcoin holders to earn returns. Participate in the consensus mechanism of the Core network and strengthen its security without giving up custody of your assets.

Leveraging Bitcoin’s hash time lock technology, non-custodial Bitcoin staking does not require trusting a third party, wrapping assets, or leaving the Bitcoin network in any form to stake Bitcoin. To enhance the security of Core and receive CORE token rewards, any Bitcoin holder can stake Bitcoin directly on the Bitcoin network.

Meanwhile, financial technology company DeFi Technologies Inc. , the first and only publicly traded company bridging the gap between traditional capital markets, Web3, and decentralized finance, announced that its subsidiary Valour has partnered with the Core Foundation.

Valour, a market-leading issuer of exchange-traded products (“ETPs”) that provide simplified access to digital assets, has partnered with the Bitcoin-powered, EVM-compatible Core chain to develop innovative ETP products leveraging Core’s unique blockchain technology, launching the first yield-based BTC ETP and a novel Core ETP. These ETPs are designed to redefine Bitcoin as an investment opportunity in the digital asset ecosystem, providing native yield on Bitcoin through non-custodial Bitcoin staking powered by Core.

The yield-based BTC ETP will provide yield directly from Core’s block rewards, and will also reward validators, CORE token stakers, Bitcoin hash power delegators, and now Bitcoin stakers. The Core ETP will provide investors with yield opportunities through Core’s native staking rewards and aims to expand investors’ access to Core’s innovative staking mechanisms.

As part of this strategic collaboration, Valour will also operate a validator node on Core. This move will not only enhance the security and efficiency of the Core network, but will also enable Valour to earn validator rewards, highlighting the potential of the collaboration between Valour and Core.

In addition, Valour plans to stake $100 million worth of BTC on the Core chain through a newly launched non-custodial Bitcoin staking product.

“We are at a critical juncture in the evolution of digital assets, where the lines between traditional and decentralized finance are no longer blurred, but are converging,” said Olivier Roussy Newton, CEO of DeFi Technologies. “Our partnership with the Core Foundation and the launch of innovative ETPs demonstrates our commitment to leading this transformation. By introducing yield opportunities for Bitcoin through these ETPs, we are not only enhancing its utility, but also providing investors with a new way to interact with the world’s leading cryptocurrency. Our management of validator nodes and significant Bitcoin staking initiatives on the Core network demonstrate our confidence in the future, and we believe that Bitcoin’s underlying technology and DeFi innovation will converge to create unparalleled investment opportunities.”

“We are excited to announce our partnership with DeFi Technologies and Valour. Their vision of inspiring innovative digital products with a traditional financial offering is a perfect fit with the Core Foundation’s philosophy,” said Brendon Sedo, Core Foundation Contributor. “This collaboration not only marks the growth of the Bitcoin ecosystem, but also showcases the potential of Bitcoin as a yield-generating asset. The Core Foundation’s support for these new products further highlights Core’s position as the blockchain that best fits Bitcoin. We are excited about the future and warmly welcome the DeFi Technologies team to join us on this journey together.”

Non-custodial Bitcoin Staking, a Paradigm Shift for Bitcoin

The launch of non-custodial Bitcoin staking ushers in a new era for Bitcoin, partially defining the additional utility that the Bitcoin network and Bitcoin assets bring. For the first time, Bitcoin holders can stake their Bitcoin assets directly on the Bitcoin network without wrappers or any intermediaries, increasing the use and awareness of Bitcoin as a store of value and yield-generating asset. This feature is designed not only to unlock Bitcoin as a yield generator, but also to strengthen the security of Bitcoin’s smart contract protocol – the Core network.

By participating in non-custodial Bitcoin staking, Bitcoin holders can earn staking rewards by participating in the Core consensus process. Their participation in staking helps secure the Core network's consensus mechanism, the so-called Satoshi Plus, contributing to the network's decentralization and Bitcoin alignment.

About Core

The Core blockchain network is a first-layer smart contract blockchain network powered by Bitcoin and compatible with the EVM. Providing security to the Core network with 50% of Bitcoin mining power in exchange for Bitcoin utility and rewards, Core is also the most Bitcoin-aligned EVM blockchain (BTCfi, Bitcoin staking, etc.).

About DeFi Technologies

DeFi Technologies Inc. (NEO: DEFI) (GR: MB9) (OTC: DEFTF) is a financial technology company dedicated to advancing the convergence of traditional capital markets with the world of decentralized finance (DeFi). DeFi Technologies is focused on industry-leading Web3 technologies, serving a broad range of investors and working to popularize emerging finance. Backed by an experienced team of financial market and digital asset experts, we are committed to continuously revolutionizing the way individuals and institutions interact with the financial system. Join DeFi Technologies' digital community, follow us on Linkedin and Twitter, and for more information, please visit https://defi.tech/

About Valour

Exchange-traded products (“ETPs”) issued by Valour Inc. and Valour Digital Securities Ltd. (“Valour”) enable retail and institutional investors to simply and securely access digital assets such as Bitcoin through their traditional bank accounts. Valour is part of the asset management business line of DeFi Technologies Inc. (NEO: DEFI) (GR: MB9) (OTC: DEFTF) .

In addition to their novel physically-backed digital asset platform, which includes 1Valour Bitcoin Physical Carbon Neutral ETP, 1Valour Ethereum Physical Collateral and 1Valour Internet Computer Physical Collateral, Valour also offers a full suite of hedged digital asset ETPs with management fees as low as zero and products listed on European exchanges, banks and brokerage platforms. Valour’s existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (DOT), href="https://valour.com/products/cosmos" rel="noopener noreferrer" target="_blank">ATOM), Binance (BNB), Ripple (XRP), Enjin (ENJ), Bitcoin Carbon Neutral (BTCN), Valour Digital Asset Basket 10 (VDAB10) and 1Valour STOXX Bitcoin Suisse digital asset blue chip ETP with low management fees. Valour's flagship products are Bitcoin Zero and Ethereum Zeo, the first fully hedged, passive investment products in Bitcoin (BTC) and Ethereum (ETH) as underlying assets, completely free of charge.