Core Foundation unveiled the LstBTC token aimed to increase liquid staking capabilities on its network
Core Blockchain Overview - September 12, 2024
Welcome to the Core Blockchain Overview. A one-stop-shop for the Core community to get up to speed on the network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.
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The Core blockchain by the numbers
Network’s daily transactions: 273.3K (-11.06%)
Total unique addresses: 20.93M (+3.05%)
ERC-20 daily tokens transferred: 101K (-38.60%)
Total CORE delegated: 165.2M (+8.26%)
Total BTC staked: 5,551 (+1.97%)
Top 3 Core validators by hybrid score:
The metrics are accurate at the time of publication. The percentage change is over a 14-day period.
Inside the network
🔸What we’re watching: Core Foundation launched LstBTC, a token pegged on a 1:1 ratio with bitcoin, with intentions to provide its network’s users enhanced liquid staking capabilities.
🔸Why it matters: Traditionally, staking bitcoin required users to lock up their assets for a certain amount of time, which limited the capabilities of holders. The LstBTC token aims to provide a solution by offering its users the ability to stake their assets, earn rewards in CORE tokens and simultaneously retain their bitcoin holdings.
This can enhance the capabilities of stakers by allowing them to maintain liquidity. In turn, they can use their tokens for lending, swapping, or other DeFi functions, if they’d like.
As bitcoin is the largest cryptocurrency by market capitalization, LstBTC can become the go-to option for yield generation and integrating bitcoin in the decentralized finance sector.
Since bitcoin is heavily seen as a store of value, many will want to still have access to its upside potential, without directly owning it.
As some investors look to diversify their bitcoin exposure, LstBTC can be an alternative opportunity for them. In turn, if more users engage with LstBTC, the amount of users within the Core ecosystem can expand as well.
🔸The bigger picture: For the Core ecosystem, LstBTC can attract new developers, investors and users to the network who want flexibility in how they use their bitcoin holdings.
If LstBTC can contribute to making bitcoin a store of value, as well as a key player in the DeFi landscape, it can drive greater adoption across the entire blockchain ecosystem and appeal to all types of investors.
Scaling the ecosystem
Core shared highlights from its Ignition Season 1 campaign, with Season 2 set to start Thursday
LemonX announced that its perpetual trading platform is live on the Core network
Entangle integrated Core’s Satoshi Plus mechanism with its photon messaging and bridging tools
Core surpassed $340M in TVL, DefiLlama data shows (chart below)
Check out the Core blog for more updates.
Into the Core community
Set a reminder to listen to the Core community’s experience at Korea Blockchain Week during an X space this Friday Sept. 13
Metaschool released a set of workshops focused around the Core ecosystem and how to build on the network
Prefer visuals? Check out this video that gives an overview of what you can expect
Blocmates shared a video created by YouTuber CryptoTube that dove into the Core network
Core contributors Kieran Dennis and Dylan Dennis launched their podcast focused on Core DAO
By the headlines
You might have seen these CoreAptos-related headlines recently…
CORE: Sustainably Scaling Bitcoin (Alts RSCH on Mirror)
Bitcoin DeFi TVL will top Ethereum’s within 2 years: Core DAO contributor (Cointelegraph)
Join in the fun
Want to dive deeper into the Core blockchain?
Join the Core Ambassador program and help grow the ecosystem
Learn more about how to get started in this video tutorial
At Token2049: Meet up with the Core community for Bitcoin Fusion
Get involved in Core Ignition Season 2 here
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.