Core Foundation Launches Fusion Upgrade, Enhancing Bitcoin Staking Capabilities

The Core Foundation, responsible for developing the largest Bitcoin DeFi ecosystem, has announced a major enhancement to its Core blockchain with the introduction of the Fusion Upgrade. This significant update aims to revolutionize Bitcoin staking by implementing two key features: Dual Staking and Liquid Bitcoin Staking (LstBTC).

Dual Staking, which is now live, allows users to stake both Bitcoin and CORE tokens simultaneously, resulting in increased rewards for Bitcoin stakers. This feature addresses a long-standing challenge in the cryptocurrency space by enabling users to maximize their returns from multiple assets within a single ecosystem.

The second feature, LstBTC, is set to launch soon and will introduce a liquid staking token pegged 1:1 with Bitcoin. This innovation allows Bitcoin holders to earn daily rewards in CORE tokens while maintaining the liquidity of their Bitcoin assets. The introduction of LstBTC solves a critical dilemma faced by many in the DeFi space: the choice between staking for rewards and maintaining liquidity.

Rich Rines, Initial Contributor to Core, emphasized the significance of this upgrade, stating, "With the launch of Fusion, Core is elevating the possibilities of Bitcoin staking and making the ecosystem more dynamic and rewarding for users." He added that the upgrade delivers scalability and yield enhancements that will improve the experience for current stakers and attract new participants seeking sustainable returns in the BTCfi space.

The Fusion Upgrade builds upon Core's existing achievements in the Bitcoin staking realm. Core has already secured over 7,600 BTC through its non-custodial Bitcoin staking protocol, establishing itself as a leader in the Bitcoin staking revolution. The platform offers both a Bitcoin staking yield product and a Bitcoin-secured smart contract platform, positioning itself as the only end-to-end BTCfi solution in the market.

Core's influence extends beyond staking, as it has also integrated Bitcoin miners into its ecosystem. Miners can delegate hash power to earn CORE token rewards, offsetting declining Bitcoin block subsidies. This integration has resulted in Core attaining approximately 75% of Bitcoin's hashrate delegated to its security, further solidifying its position in the cryptocurrency landscape.

The impact of Core's innovations is evident in its ecosystem's growth. The platform boasts over 100 EVM-compatible decentralized applications (dApps) protected by both Bitcoin miners and stakers. It has attracted tens of thousands of daily active users and accumulated over $650 million in Total Value Locked (TVL), positioning itself as the leading Bitcoin Scaling chain.

The introduction of the Fusion Upgrade, particularly the Dual Staking and LstBTC features, represents a significant step forward in the evolution of Bitcoin-based DeFi. By offering enhanced staking rewards and introducing liquid staking options, Core is addressing key challenges faced by cryptocurrency investors and users. This development has the potential to attract more participants to the Bitcoin DeFi ecosystem, potentially increasing the utility and value of both Bitcoin and the Core network.

As the cryptocurrency market continues to evolve, innovations like the Fusion Upgrade play a crucial role in shaping the future of digital asset management and investment. By bridging the gap between Bitcoin's store of value proposition and the yield-generating potential of DeFi, Core is paving the way for a more integrated and efficient cryptocurrency ecosystem. This could lead to increased adoption of Bitcoin in DeFi applications and potentially influence the broader cryptocurrency market dynamics.