Core Foundation Announces LstBTC, a Liquid Staking Token on the Core Blockchain

The
Core
Foundation,
a
group
dedicated
to
sponsoring
ecosystem
development
on
Core’s
Bitcoin-powered
blockchain,
has
announced
LstBTC,
an
ERC-20
liquid
staking
token
pegged
1:1
with
Bitcoin
(BTC).
This
innovation
enables
BTC
holders
to
earn
daily
rewards
in
CORE
tokens
while
maintaining
the
liquidity
of
their
Bitcoin—a
solution
to
the
longstanding
challenge
of
choosing
between
staking
and
liquidity
in
the
DeFi
space.

Addressing
the
Liquidity
Challenge

For
Bitcoin
holders,
the
choice
between
staking
their
assets
for
rewards
and
keeping
them
liquid
for
DeFi
participation
has
always
been
a
difficult
one.
Traditional
BTC
staking
often
requires
locking
up
assets,
making
them
unavailable
for
other
uses.
LstBTC
eliminates
this
trade-off
by
preserving
Bitcoin’s
value
while
offering
the
benefits
of
staking.
Holders
can
now
keep
their
BTC
liquid
and
participate
fully
in
the
evolving
BTCfi
ecosystem.

How
LstBTC
Works

Each
LstBTC
token
is
fully
pegged
to
one
BTC,
ensuring
that
its
value
remains
stable.
Unlike
standard
staking,
LstBTC
allows
holders
to
retain
full
liquidity,
meaning
their
Bitcoin
can
still
be
used
for
lending,
transferring
and
swapping
like
any
other
ERC-20
token.
This
flexibility
is
a
game-changer
for
those
who
want
to
maximize
their
returns
without
compromising
their
ability
to
engage
in
DeFi
activities.

Enhanced
Security
with
Multisig
Setup

LstBTC
is
issued
on
the
Core
blockchain
and
features
a
Multisig
setup
on
the
Bitcoin
network.
While
this
requires
a
slight
increase
in
trust,
the
Multisig
setup
is
managed
by
reputable
entities,
a
practice
widely
adopted
in
many
established
protocols.
The
Multisig
wallets
undergo
rigorous
security
audits,
ensuring
that
users’
assets
are
well-protected,
while
still
allowing
them
to
benefit
from
the
liquidity
and
rewards
offered
by
LstBTC.

Expanding
the
BTCfi
Ecosystem

LstBTC
will
further
expand
Core’s
already
comprehensive
BTCfi
ecosystem,
which
includes
lending,
borrowing,
restaking,
DEXs,
perpetual
futures,
and
NFT
platforms.
By
bridging
the
gap
between
staking
and
liquidity,
LstBTC
offers
BTC
holders
greater
flexibility
in
managing
their
assets.

“Bitcoin
holders
have
long
faced
a
difficult
choice
between
staking
their
assets
and
keeping
them
liquid
for
participation
in
the
DeFi
ecosystem,”
said
Rich
Rines,
Initial
Contributor
at
Core. “LstBTC
changes
that
by
allowing
users
to
earn
staking
rewards
in
Core
while
keeping
their
Bitcoin
liquid
and
active
in
the
ecosystem.”

A
Solution
That
Meets
Market
Needs

LstBTC
is
designed
for
BTC
holders
who
want
to
maintain
their
asset
liquidity
while
still
earning
staking
rewards.
The
Multisig
wallet
setup,
backed
by
reputable
entities
and
rigorous
audits,
ensures
that
security
is
not
compromised,
making
LstBTC
a
reliable
choice
for
those
looking
to
engage
more
fully
in
the
BTCfi
ecosystem.

About
Core

Core
serves
as
the
Proof
of
Stake
layer
for
Bitcoin
as
the
first
enabler
of
Non-Custodial
Bitcoin
Staking,
which
secures
a
fully
EVM-compatible
BTCfi
ecosystem.
Since
April
2024, over
5,000
BTC valued
at
more
than
$300
million
have
been
staked
with
Core,
enhancing
Bitcoin’s
utility
and
security.

Core
is
the
most
Bitcoin-aligned
EVM
blockchain
with
~55%
of
Bitcoin
mining
hash
power
contributing
to
the
network’s
security.
This
breakthrough
has
amassed
millions
of
Core
adopters
–
over 20M
unique
addresses, 275M+
transactions,
and over
295M
TVL since
its
mainnet
launch
in
January
2023.

Disclaimer:
This
press
release
is
for
informational
purposes
only
and
does
not
constitute
investment
advice
or
an
offer
to
invest.