Core Blockchain Launches $LstBTC for Bitcoin Liquid Staking
Core Blockchain introduces $LstBTC, a liquid staking token pegged to Bitcoin. It enables users to earn rewards while keeping Bitcoin liquid for DeFi use.
Key points:
- Liquid staking for Bitcoin: $LstBTC allows staking without locking $BTC.
- Rewards in CORE: Users earn daily rewards in $CORE tokens.
- Boost for DeFi adoption: Aimed at expanding Bitcoinās role in DeFi.
- Secure multi-sig setup: Multiple entities manage $LstBTC for added security.
- Ecosystem growth potential: Core expects $LstBTC to attract more builders and users.
LstBTC Brings New Opportunities for $BTC Holders:
Core Blockchain has launched $LstBTC, a liquid staking token that could significantly change how $BTC holders engage with decentralized finance (DeFi).
The token, pegged 1:1 with $BTC, solves a common problem for many users. Now, they no longer have to choose between earning rewards and keeping their Bitcoin accessible for DeFi.
With LstBTC, Bitcoin holders can earn daily rewards in $CORE tokens. At the same time, they keep their Bitcoin available for use in DeFi applications.
Furthermore, Rich Rines, an initial Core DAO contributor, emphasized that while $BTC plays a huge role in the crypto market, it is rarely used in DeFi. He believes $LstBTC will change that trend.
Additionally, the tokenās multi-sig setup adds extra security by involving multiple parties in its management.
Read more: Babylon Just Launched Bitcoin Staking
As a result, Core Blockchain expects $LstBTC to not only benefit current users but also attract new developers.
This, in turn, could lead to the creation of more liquid staking products on the Core platformā.
