Bitcoin DeFi booms as Core blockchain hits $260M in dual-staked assets – Crypto News

Core, a proof-of-stake blockchain built on Bitcoin, has surpassed $260 million in dual-staked assets as institutional interest in Bitcoin-based decentralized finance (DeFi) continues to grow.

Core’s initial contributor, Rich Rines, told Cointelegraph that as of April 7, over 44 million Core tokens have been dual-staked with 3,140 Bitcoin (BTC). At the time of writing, the assets are worth about $260 million. 

Core’s dual-staking model lets Bitcoin holders earn higher yields with CORE tokens. While users can stake BTC at a lower rate, those who stake BTC with Core tokens get an enhanced yield. 

“Dual Staking can multiply base staking rewards over 15 times, depending on how many CORE tokens are staked,” Core said in a statement.