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Core Chain Launches Non-Custodial BTC Staking; Collaborates with DeFi Technologies Subsidiary, Valour, for Innovative Bitcoin ETPs


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  • Core Chain introduces Non-Custodial BTC Staking, a feature making BTC a yield-earning asset for the first time in its history. 
  • Innovative Bitcoin ETPs Launch with DeFi Technologies Inc. : DeFi Technologies Inc. and Valour partner with the Core Foundation to launch groundbreaking Exchange Traded Products (“ETPs”), including a first-of-its-kind Yield Bearing BTC ETP and a new Core ETP, leveraging Core Chain's unique blockchain features.
  • Yield Opportunities Through BTC: The Yield Bearing BTC ETP introduces a new era for Bitcoin as an actively yielding investment, utilizing Core Chain's block rewards and expanding Bitcoin's utility without leaving the network.
  • Validator Node Management and BTC Staking: Valour Inc. will manage a validator node on the Core Blockchain, enhancing network security and efficiency while planning to stake $200 million in BTC, further solidifying the collaboration's commitment to integrating traditional finance with blockchain innovation. 

April 17, 2024 - Core Chain introduces Non-Custodial BTC Staking, a feature making BTC a yield-earning asset for the first time in its history. With ETFs opening BTC ownership and the upcoming Halving reducing miner rewards, Non-Custodial BTC Staking marks an opportunity for all BTC holders to earn yield for participating in Core Chain’s consensus mechanism and help bolster its security, all without ever giving up custody of their assets. 

Leveraging Bitcoin’s Hash timelock technology, Non-Custodial BTC Staking does not require trusting a third party, wrapping assets, or leaving the Bitcoin Network in any way to stake BTC. To contribute to Core Chain’s security and earn CORE token rewards, any Bitcoin holder can stake BTC directly on the Bitcoin Network

 

In a related move, DeFi Technologies Inc., a financial technology company and the first and only publicly traded company that bridges the gap between traditional capital markets, Web3 and decentralized finance announces that its subsidiary, Valour, a leading issuer of exchange traded products ("ETPs") that provide simplified access to digital assets, has entered into a collaboration with the Core Foundation, an organization dedicated to the development of the Core blockchain network. Core Chain is a cutting-edge, Bitcoin-powered, EVM-compatible blockchain that incorporates Bitcoin miners and BTC stakers into its security in exchange for rewards.

This collaboration is set to develop innovative ETPs that leverage Core Chain's unique blockchain capabilities, introducing a first-of-its-kind Yield Bearing BTC ETP and a novel Core ETP. These ETPs aim to redefine Bitcoin’s utility as an investment opportunity within the digital asset ecosystem, granting BTC native yield through non-custodial BTC staking powered by Core Chain.

The Yield Bearing BTC ETP will offer yield directly from Core Chain’s block rewards, which also rewards validators, CORE token stakers, Bitcoin hash power delegators, and now, BTC stakers.

The Core ETP will provide investors with yield-bearing opportunities through Core Chain's native staking rewards, and it’s designed to widen investor access to Core's innovative staking mechanisms.

In this strategic collaboration, Valour will also operate a validator node on the Core Blockchain. This effort will not only bolster the security and efficiency of the Core network but also enable Valour to earn validator commissions, highlighting the synergistic potential between Valour and Core Chain.

Additionally, Valour plans to stake $200 million US in BTC with Core Chain through the newly launched Non-custodial BTC staking product. 

"We are at a pivotal moment in the evolution of digital assets, where the boundaries between traditional finance and decentralized finance are not just blurring but merging,” said Olivier Roussy Newton, CEO of DeFi Technologies. “This collaboration with the Core Foundation and the launch of our innovative ETPs are emblematic of our commitment to leading this charge. By introducing yield-bearing opportunities to Bitcoin through these ETPs, we're not only enhancing its utility but also offering investors novel ways to engage with the world's premier cryptocurrency. Our move to manage a validator node and our significant BTC stake in the Core Chain are testament to our belief in a future where Bitcoin's foundational technology and DeFi innovations converge to create unparalleled investment opportunities."

“We’re thrilled to announce our collaboration with DeFi Technologies and Valour. Their inspiring vision of enabling access to innovative digital products through traditional offerings perfectly aligns with our ethos at Core Foundation.” said Brendon Sedo, a contributor at Core Foundation. “This collaboration not only signals Bitcoin’s growth as an ecosystem but also showcases the growing potential of BTC as a yield-bearing asset. Core Foundation is proud to be the first and most reliable ecosystem to power these new offerings, underscoring Core Chain’s position as the most Bitcoin-aligned blockchain. We’re excited about the future and warmly welcome the DeFi Technologies team in our collective journey forward.”

 

Non-Custodial Bitcoin Staking, a A Paradigm Shift for Bitcoin

The launch of Non-Custodial BTC Staking introduces a new era for BTC, defined in part by added utility brought to both the Bitcoin Network and the BTC asset. . For the first time, BTC holders are empowered to directly stake their BTC on the Bitcoin Network, without the need for wrapped assets or intermediaries, adding to the utilization and perception of Bitcoin as a store of value to a yield generating asset. This feature is designed not only to unlock BTC as a yield generator, but also to strengthen the Bitcoin-secured smart contract protocol, Core Chain. 

By participating in Non-Custodial BTC Staking, Bitcoin holders earn staking rewards by playing a role in Core Chain’s consensus process. Their involvement in staking assists in securing Core Chain’s consensus mechanism, known as Satoshi Plus, contributing to the network's decentralization and Bitcoin-alignment.

 

About Core Chain

The Core blockchain network is a Bitcoin-powered layer-one blockchain for EVM-Compatible smart contracts. With 50% of Bitcoin mining hash power contributing to Core’s security in exchange for unlocking Bitcoin utility and rewards, Core Chain is the most Bitcoin-aligned EVM blockchain (BTCfi, Bitcoin staking, and more).

 

About DeFi Technologies

DeFi Technologies Inc. (NEO: DEFI) (GR: MB9) (OTC: DEFTF) is a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralized finance (DeFi). With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem. Join DeFi Technologies’ digital community on Linkedin and Twitter, and for more details, visit https://defi.tech/ 

 

About Valour

Valour Inc. and Valour Digital Securities Limited (together, “Valour”) issues exchange traded products (“ETPs”) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies Inc. (NEO: DEFI) (GR: MB9) (OTC: DEFTF).

In addition to their novel physical backed digital asset platform, which includes 1Valour Bitcoin Physical Carbon Neutral ETP, 1Valour Ethereum Physical Staking, and 1Valour Internet Computer Physical Staking, Valour offers fully hedged digital asset ETPs with low to zero management fees, with product listings across European exchanges, banks and broker platforms. Valour's existing product range includes Valour Uniswap (UNI), Cardano (ADA), Polkadot (DOT), Solana (SOL), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Ripple (XRP), Enjin (ENJ), Bitcoin Carbon Neutral (BTCN), Valour Digital Asset Basket 10 (VDAB10) and 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first fully hedged, passive investment products with Bitcoin (BTC) and Ethereum (ETH) as underlyings which are completely fee free. 

For more information, to subscribe, or to receive company updates and financial information, visit valour.com.

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