DeFi Technologies Unveils Core Chain Validator with 1,498 BTC Stake
DeFi Technologies is set to embark on a significant move by initiating a validator node on the Core Chain and committing an almost $100 million stake in Bitcoin (BTC) on this blockchain network. This Toronto-based enterprise will reap rewards for transaction validations and staking through its subsidiary Valour. The staking procedure is facilitated by Core’s consensus mechanism compatible with Ethereum’s Virtual Machine, operating on a layer-1 blockchain powered by BTC.
Olivier Roussy Newton, the CEO of DeFi Technologies, expressed that this initiative aligns with their mission to merge traditional finance and groundbreaking blockchain technology. According to Newton, this endeavor offers investors a distinctive opportunity to gain from yield and growth in the digital asset realm. Notably, stakers maintain control over their BTC during the lockup period and subsequently receive their rewards in CORE tokens, which are reinvested into the product. CORE staking boasts an impressive reward rate of 11.66%.
Security in this staking process is fortified by directing 50% of BTC mining hash power to the blockchain, enhancing the system’s reliability. Excluding the new stake from DeFi Technologies, Core Chain already has over 2,800 BTC staked within its network, demonstrating robust participation and security mechanisms in place.
This latest development represents the next phase in the collaboration between DeFi Technologies and Core Chain. Previously, on May 10, both entities successfully introduced the Valour Bitcoin Staking exchange-traded product (ETP) on the Nordic Growth Market exchange, utilizing the Swedish krona as the base currency. Promoted as the first yield-bearing BTC ETP, it offers BTC exposure with a yield of 5.65% accompanied by a 1.9% management fee.
The partnership between DeFi Technologies and Core Chain is set to expand further with the proposed launch of another ETP—Core ETP—which aims to provide yield through BTC staking. Valour currently offers ETPs backed by a variety of cryptocurrencies, including notable names like Uniswap and Polkadot, alongside a 10-coin basket, Bitcoin Carbon Neutral (BTCN), and the STOXX Bitcoin Suisse Digital Asset Blue Chip X Index. Some of these offerings are even devoid of any management fee, appealing to a wider investor base.
This strategic move is reflective of DeFi Technologies’ recent commitment to enhancing its portfolio by increasing its reliance on BTC. The firm had announced on June 10 that BTC would be adopted as its main treasury reserve asset, leading to the acquisition of 110 BTC under this new strategy. This announcement drove a notable 23% increase in DeFi Technologies’ share price, underscoring investor confidence in this pivot.
As of May 31, DeFi Technologies reported retaining a substantial cash balance of $51 million, while its subsidiary Valour managed $607 million in assets. This financial stability is crucial for the company’s operations and future ventures. Notably, in mid-March 2022, Valour’s assets under management (AUM) were recorded at $274 million, highlighting a significant growth trajectory within a span of a few months.
DeFi Technologies continues to make strategic strides in the blockchain and digital asset sector, reinforcing its position as a front-runner in bridging traditional finance with innovative blockchain solutions. This recent decision to stake BTC on the Core Chain resonates with their broader mission and strategic interests, promising potential growth and yields for its investors and stakeholders alike.
21 thoughts on “DeFi Technologies Unveils Core Chain Validator with 1,498 BTC Stake”
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The future is bright for DeFi Technologies! Their $100M BTC stake and new validator node are perfectly aligned with their goal of integrating blockchain with traditional finance.
Investment strategies at DeFi Technologies are on point! The massive BTC stake and validator node initiative signal a wave of growth and profitability.
Olivier Roussy Newton is spearheading an impressive journey at DeFi Technologies! The recent $100M BTC stake and validator node on Core Chain just scream growth potential!
So pleased with DeFi Technologies’ continuous advancements! The validator node on Core Chain and the immersive BTC integration are fantastic steps for future yields.
DeFi Technologies should be cautious with their cash reserves. Being ambitious is one thing, but this feels like they’re gambling investor money. 🎰🚨
A big round of applause for DeFi Technologies! They’ve deftly merged traditional finance with blockchain in ways few can, and their new BTC stake clearly reflects that. 👏🌟
Another day, another blockchain project claiming it will ‘merge traditional finance with blockchain technology.’ Where’s the evidence that this actually works? 📉🤷♂️
Feeling bullish! DeFi Technologies’ staking efforts on Core Chain might just be the next big thing in the blockchain space. Profitability and innovation hand in hand.
Impressed by DeFi Technologies’ relentless focus on innovation! The validator node on Core Chain and BTC staking shows their unwavering commitment to growth.
DeFi Technologies is on a breakthrough streak! The 11.66% staking reward rate and continuous growth in assets are promising for all involved.
Major props to the DeFi Technologies team! Committing $100 million to BTC staking on Core Chain is an ambitious move. Can’t wait to see the returns and growth this brings.
This is all just too complicated for the average investor. They should focus on more accessible solutions. 🤔🔍
Valour’s management fee is ridiculous. Theyre just eating into investor profits. Feels like a cash grab.
DeFi Technologies is paving the way for the future of finance! The combination of BTC staking and traditional financial principles is the perfect blend. Excited for what’s next! 🛤️💸
Love the strategic thinking! 💭 DeFi Technologies continues to build robust financial bridges through innovative steps. Can’t wait to see where the Core staking leads! 🌉🔜
Such an exciting time for DeFi Technologies! Their continuous innovations, especially in staking BTC, are placing them ahead in the digital asset world. 🌍✨
Who cares about an 11.66% reward rate when the market is this volatile? I’d rather keep my money safe.
In awe of DeFi Technologies’ strategic prowess! Initiating a validator node and committing $100M in BTC on Core Chain is a massive step forward! 🌐💰
Great news! The 11.66% reward rate for CORE staking is such a fantastic incentive. Kudos to DeFi Technologies for this forward-thinking move.
Game changer! DeFi Technologies’ strategic pivot to make BTC their main treasury reserve asset is spot on. This will surely foster investor confidence.
DeFi Technologies continues to impress! Their strategic initiatives, financial growth, and commitment to blockchain technology are unmatched. Excited to see the rewards from CORE staking! 💹🔥