Solv Protocol launches liquid staking token on the Core network to drive cross-chain liquidity
Core Blockchain Overview - October 10, 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: 335.7K (+10.8%)
Total unique addresses: 22.3M (+3.82%)
ERC-20 daily tokens transferred: 58.8K (-67%)
Total CORE delegated: 175.1M (+2.3%)
Total BTC staked: 6,203 (+32.1%)
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: The staking ecosystem on Core is growing as Solv Protocol partnered with Ceffu to release a liquid staking token, SolvBTC.CORE, on the network.
🔸Why it matters: Solv Protocol is a bitcoin staking platform that gives its users the ability to earn yield on their bitcoin assets. The protocol uses the SolvBTC token to represent bitcoin stored on the platform. Solv also has the compatibility to connect with other blockchains like Bitcoin, Ethereum, and BNB Chain, to allow for a more seamless flow of liquidity across networks.
The SolvBTC.CORE token is the same kind of asset as the original SolvBTC, but is designed to increase liquidity on the Core network. This integration allows users to utilize SolvBTC within Core’s ecosystem, while still gaining access to its various decentralized applications (dApps)
Bitcoin staking options have historically been limited, but SolvBTC.CORE can expand these options by enabling new yield mechanisms while utilizing Core’s infrastructure. This can also gamify the DeFi experience and encourage greater participation for those seeking rewards. In turn, this could lead users to dive deeper into the ecosystem and learn about Core’s capabilities.
🔸The bigger picture: Solv's innovations could help reshape how Bitcoin is integrated into global financial systems and especially for investors looking for yield opportunities. Traditional finance often lacks exposure to Bitcoin’s DeFi potential due to inhibitors in regulatory restrictions.
Solv’s cross-chain compatibility and enhanced liquidity can also enable more engagement on the Core network and onboard users to realize the use case of its infrastructure.
Scaling the ecosystem
Core TVL is up 5.8% week-over-week, at $368.3M, according to DefiLlama data
Unique addresses on Core increased from 2.69M to 21.91M in September, according to onchain data
Its highest daily increase was 146.1K on Sept. 24
Web3 games on the Core network hit 161.33K unique active wallets over a 7-day period, according to DappRadar data
Core network processed over 9.56M total transactions in the past 30 days, making it the most used network across all Bitcoin-powered networks (shown below)
Source: BitcoinEcoTK on X
Check out the Core blog for more updates.
Into the Core community
Want to learn more about Core’s upcoming Fusion upgrade? Read this post by X user uc_yuccie
Core DAO released episode 1 of its “Bitcoin Fusion” series that dives into Bitcoin staking and scaling solutions
Core community member BitGenie created a Youtube video focused on the network and its ecosystem
By the headlines
You might have seen these Core-related headlines recently…
Economics of Bitcoin Staking: What Matters (Core DAO on X)
Chipping Away at Bitcoin’s Biggest Challenge & Opportunity (Initial Core Contributor Rich Rines at Token2049)
Join in the fun
Want to dive deeper into the Core blockchain?
Listen to “The Bitcoin DeFi Show” ft. Core Contributors
Join the Core Ambassador program to help grow the ecosystem
Get involved in Season 2 of Core’s Ignition Drop campaign
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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.