Core, a proof-of-stake blockchain integrated with Bitcoin, has recently achieved a significant milestone, surpassing $260 million in dual-staked assets. This surge highlights the growing institutional interest in Bitcoin-based decentralized finance (DeFi), as articulated by Core’s initial contributor, Rich Rines.
As of April 7, over 44 million Core tokens have been dual-staked alongside 3,140 Bitcoin (BTC), collectively valued at approximately $260 million. Core’s innovative dual-staking model not only provides Bitcoin holders with the ability to earn higher yields through CORE tokens but also incentivizes users to engage more deeply with the platform.
Core’s dual-staking approach allows Bitcoin holders to receive enhanced returns compared to traditional staking methods. According to Core, this method can amplify base staking rewards by more than 15 times, depending on the number of CORE tokens staked.
Core’s Milestone Signifies Growing Demand for Bitcoin Staking
The impressive growth in dual-staked assets is, in part, attributed to institutional investors who are integrating Core’s innovative staking model into their operations. Major custodians such as BitGo, Copper, and Hex Trust have enabled their clients to access Core’s protocol, further solidifying its legitimacy in the market.
Rines emphasized the role of institutional adoption in the early success of Core’s dual-staking model, noting that it opens up new opportunities for institutions to enhance their Bitcoin holdings. He pointed out that the traditional storage of Bitcoin typically incurs custody fees without generating yield; however, by leveraging Core’s staking model, organizations can transform their Bitcoin into yield-bearing assets, effectively offsetting those costs and increasing overall capital efficiency.
At present, Core boasts the largest total value locked (TVL) among Bitcoin sidechains, with analytics from Footprint revealing a TVL exceeding $400 million and a market share of 28%.
Furthermore, Rines highlighted that the growing adoption of CORE tokens illustrates the product’s potential. He stated, “The 44 million+ CORE tokens dual-staked to date show real adoption of the model. It reflects that users, both retail and institutional, are actively looking to put their Bitcoin to work securely and sustainably.”
This burgeoning dual-staking system provides long-term Bitcoin holders a sustainable utility without the need to relinquish custody of their assets. Rines remarked, “This is Bitcoin becoming productive, not by trusting third parties, but by participating in a system designed to reward real alignment and long-term engagement.”
As the DeFi landscape continues to evolve, Core’s advancements reflect the broader trends in the cryptocurrency market, indicating a shift towards more productive uses of Bitcoin assets. As institutional participation grows, the future looks promising for Bitcoin staking and decentralized finance.
