The Core Foundation announced Thursday that it is launching a liquid staking token backed by BTC on the Bitcoin-backed Layer 2 “Core” network.
The token, named LstBTC, will be an ERC-20 token pegged 1:1 with BTC, that also accrues daily awards for holders.
Liquid Staking On Bitcoin
According to Core DAO, staking rewards will be paid out in CORE tokens – the native utility and governance token of the Core network.
“LSTs are the missing ingredient in Bitcoin DeFi, and the introduction of LstBTC will help kickstart Core’s ecosystem,” said Rich Rines, an initial contributor to Core DAO. “With LstBTC, the Core ecosystem is expected to attract new builders, launching their own LSTs on Core.”
Core is an EVM-compatible Bitcoin sidechain that uses both merge mining and delegated proof of stake to secure its network – a consensus mechanism called “Satoshi Plus.” This allows it to creatively inherit the security of Bitcoin while including far more functionality than Bitcoin
We współpracy z: https://cryptopotato.com/bitcoin-l2-core-launches-liquid-staking-for-btc/
