Welcome to the Core Blockchain Overview, the Core community’s one-stop-shop for the latest on the network’s metrics, releases, insights, updates, ecosystem developments and more. All in one place.

New here? Subscribe here to get updates to your inbox, every other Thursday.

These metrics are accurate at the time of publication. The percentage change is over a 14-day period.

🔸What we’re watching: Core hosted a BTC-Fi Accelerator, fostering six teams in a 14-week program that aimed to help builders bring their ideas to fruition.

The cohort included projects building for different parts of a Bitcoin DeFi (BTCfi) stack: trading, borrowing, staking, treasury management, and user growth tools. 

Here’s a brief overview of the project participants:

Dotswap lets users trade Bitcoin-native assets like Runes and BRC-20 tokens directly on the network, without requiring bridges or intermediaries. If Runes and BRC-20 tokens regain traction, the protocol could see increased attention alongside with it. Swaps without external bridges reduce user friction, making it easier for new users to be onboarded due to less steps. Usage, however, will depend heavily on demand for these token standards.

Venice Finance provides bitcoin holders a way to access their liquidity without selling the underlying asset. Users can deposit bitcoin as collateral in exchange for a dollar-pegged token. Due to bitcoin’s price volatility, the system must be able to handle liquidations reliably during sharp market downturns. However, in the event bitcoin were to regain spending power, Venice Finance can serve users that want to access their bitcoin for everyday purchases.

Magni Finance targets users staking bitcoin on Core. The network issues a tokenized representation of staked bitcoin, and Magni allows users to borrow against it and restake the borrowed funds to increase yield. This protocol’s success will depend on how large the market for staked bitcoin on Core becomes. As Core’s staking market gains recognition, Magni Finance may see an increase in its user base and eventually become the go-to market for restaking.

Praxis builds tools for companies that hold bitcoin on their balance sheets. The goal is to help businesses earn yield on their bitcoin using Core’s staking infrastructure without moving the asset off the network. This product is not new since there are other large custodians that offer similar yield-focused services, but Praxis’ focus companies that hold bitcoin could make it a go-to provider due to its directness and core area of expertise.

Helix Labs provides staking infrastructure designed for institutional users across multiple blockchains. Instead of relying on wrapped assets or bridges, the platform runs its own validators on each supported chain. Like other staking protocols, usage of this infrastructure will rely on trust since there are other competitors. But as Core staking draws institutions and retail investors, Helix may find a value proposition in offering cross-chain staking and direct onboarding for new entrants.

Mintware builds infrastructure for providing referral programs where rewards are tied to verified trading activity, aiming to reduce spam or low-quality referrals. This type of tooling may help newer protocols attract and retain users as the ecosystem develops. This design directly rewards new entrants, and ensures they are real people, instead of bot accounts that would farm a network and leave right after.

🔸The bigger picture:  Two things stand out about this cohort compared to other ecosystem demo days.

Trust minimization is the baseline as almost every project in the cohort emphasizes no bridges, custodians, or wrapped assets. This is shaped directly by Core's architecture, as non-custodial bitcoin staking means the asset never leaves the blockchain. That constraint filters out short-term builders and extends support for multi-cycle participants. 

In addition, the cohort shows projects shifting from optimizing for speculation to building infrastructure. BTCfi participants such as Ordinals and Runes were largely about buying a token and hoping it appreciated, while this cohort is building consumer products that can be used by new and experienced DeFi users alike.

Check out the Core blog for more updates. 

Want to dive deeper into the Core blockchain? 

To get this newsletter delivered to your inbox, subscribe here:

This product was built by Token Relations. 

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.