Recent developments in the Layer-1 blockchain space have spotlighted Core Chain, whose native token CORE has demonstrated remarkable price appreciation. This surge appears closely tied to its strategic collaboration with Valour, a subsidiary of DeFi Technologies, to launch a groundbreaking Bitcoin Exchange Traded Product (ETP). This partnership signifies a pivotal advancement in supporting Core Chain developers and fostering ecosystem innovation.
Market Performance and Tokenomics
As of April 23rd, Core Chain's token (CORE) traded at ¥18.69 RMB, with a 24-hour trading volume exceeding ¥1.597 billion RMB. Key metrics include:
- 24-hour price increase: 4.58%
- Market cap: ¥16.497 billion RMB (Ranked #48 on CoinMarketCap)
- Circulating supply: 883 million CORE (Total supply: 2.1 billion)
This upward trajectory coincides with Valour's announcement of a yield-generating Bitcoin ETP—a first-of-its-kind product leveraging Core Chain's staking infrastructure.
Strategic Partnership: Bridging Bitcoin and Institutional Finance
The Collaboration Framework
Innovative ETP Development:
- Valour will utilize Core’s blockchain to issue BTC ETPs with native yield generation and a dedicated Core ETP.
- The BTC ETP derives returns directly from Core’s block rewards, enabling non-custodial Bitcoin staking.
- Core ETP taps into the chain’s staking mechanisms for additional investor yield.
Network Security Enhancement:
- Valour will operate a validator node on Core Chain, bolstering decentralization and earning node rewards.
- A planned $100 million BTC stake on Core underscores Valour’s long-term commitment.
Leadership Insights:
- Olivier Roussy Newton (DeFi Technologies): "We’re blurring lines between digital assets and traditional finance by unlocking Bitcoin’s income potential."
- Brendon Sedo (Core Foundation): "This aligns perfectly with our vision to merge digital and traditional financial innovation."
Why This Matters
- For Investors: Transforms Bitcoin from a store-of-value to an income-generating asset without leaving the Bitcoin network.
- For Core Chain: Validates its technological robustness and attracts institutional capital.
Core Chain’s Technological Edge
Key Features
- EVM Compatibility: Supports Ethereum dApps and smart contracts.
- Satoshi Plus Consensus: Hybridizes Bitcoin’s hash power with Delegated Proof-of-Stake (DPoS) for optimized security and scalability.
- DAO Governance: Maintained by a decentralized autonomous organization since January 2023.
Token Utility
- CORE token fuels transactions, staking, and governance.
- Deflationary burn mechanism enhances scarcity and value.
- Audited by CertiK for smart contract security.
Valour and DeFi Technologies: Expanding Access
Valour’s Role
- Issues low-fee ETPs for Bitcoin, Ethereum, and other assets.
- Listed on major European exchanges and banking platforms.
DeFi Technologies’ Vision
- Acts as a bridge between traditional finance and DeFi.
- Enhances market transparency through Web3 integration.
FAQs: Addressing Key Questions
Q: How does the Bitcoin ETP generate yield?
A: By staking BTC on Core Chain, investors earn rewards from block production—all without transferring custody.
Q: What advantages does Core offer over other L1 blockchains?
A: Its Satoshi Plus consensus uniquely combines Bitcoin’s security with DPoS efficiency, enabling high throughput and EVM compatibility.
Q: Is Valour’s $100M BTC stake locked?
A: Yes, this long-term commitment underscores confidence in Core’s ecosystem.
Q: How can investors buy Core ETPs?
A: Through Valour’s platforms or partnered European exchanges.
Q: What’s next for Core Chain?
A: Expect more DeFi integrations and institutional-grade products in 2024.
Future Outlook
This collaboration exemplifies how blockchain innovation and traditional finance can synergize to create tangible value. As Core Chain cements its position as a leading L1, its ecosystem is poised for:
- Wider institutional adoption.
- Enhanced developer activity.
- Novel financial instruments like yield-optimized ETPs.
👉 Explore Core Chain’s latest developments for deeper insights into this evolving partnership.
Disclaimer: This content is for informational purposes only and does not constitute financial advice. Always conduct independent research before investing.
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