What is CoreDAO up to?

PLUS: Liquid Staking, Bitcoin DeFi, USDh and more

Author

Davis Richardson
October 18, 2024

Happy Friday Maestros and welcome to another week of the Bitcoin Renaissance!

This week, we’re taking a deep dive into SolvBTC.CORE by Core DAO, alongside key developments in Bitcoin infrastructure, security and all the Bitcoin happenings on Crypto X.

Let’s dive into the key stories from the ecosystem

PS. Don’t forget to follow us on X

 🟠 Featured Stories

Tesla Moves $760M in Bitcoin: Elon Musk's company has transferred $760 million worth of Bitcoin after holding it for two years, signaling a significant movement in its cryptocurrency strategy.

Australia's First Direct Spot Bitcoin ETF Launches: The inaugural direct spot Bitcoin ETF in Australia has officially launched, allowing investors to gain exposure to Bitcoin without needing to hold the cryptocurrency directly.

Legacy of Bitcoin's Creator: J.T. Woodhouse contrasts Satoshi Nakamoto's selfless vision with today's clout-chasing culture, stressing the importance of giving without recognition.

MicroStrategy's Ambitious Plans: Michael Saylor aims to transform the company into a leading Bitcoin bank, leveraging its substantial BTC reserves to capitalize on Bitcoin's growth potential.

Legal Battle for Lost Bitcoin: James Howells is suing Newport City Council for $647 million to recover a hard drive containing 8,000 Bitcoin, facing environmental concerns that hinder his excavation efforts.

💡 Spotlight: COREDAO - Empowering Bitcoin with SolvBTC.CORE

COREDAO is making significant strides in the decentralized finance (DeFi) landscape with the launch of SolvBTC.CORE, a pioneering liquid staking token that enhances Bitcoin's utility. This innovation allows Bitcoin holders to stake their assets while maintaining liquidity, unlocking new earning opportunities within the Core ecosystem.

Key Features

  • Liquid Staking: SolvBTC.CORE enables users to earn real yields on their Bitcoin without locking it up, allowing for seamless participation in various DeFi applications.

  • Enhanced Liquidity: By pegging SolvBTC.CORE 1:1 with Bitcoin, users can access their staked assets anytime, making it a flexible option for yield generation.

  • Integration with Core Chain: This initiative facilitates staking and connects users to a broader range of decentralized applications (dApps), enhancing their overall experience.

Technological Innovation

The architecture behind SolvBTC.CORE is designed to ensure security and efficiency. Utilizing advanced smart contract protocols guarantees that yields are directly linked to Bitcoin's value, providing users with a transparent and reliable staking experience. This technological framework positions COREDAO as a leader in integrating Bitcoin into the DeFi space, setting a new standard for liquid staking solutions.

Market Impact

With over 20,000 BTC staked through Solv's products, SolvBTC.CORE is set to reshape how Bitcoin interacts with DeFi. The initiative aims to unlock over $330 billion in potential value by simplifying staking processes and integrating Bitcoin into the broader financial ecosystem.

As COREDAO continues to lead in Bitcoin's DeFi integration, keep an eye on how SolvBTC.CORE evolves and expands the possibilities for Bitcoin holders. This is just the beginning of a more dynamic and accessible future for Bitcoin in decentralized finance!

Learn more here.

📣 Trending on X

  • Arch Infra Gets a Revamp: From enabling bridgeless programmability to launching the Arch Blockchain Explorer and creating powerful APIs for developers, all built by Maestro.

  • Ordiswap Update: The team faces challenges with developer losses and a pool bug. Discussions of a rug are prevalent.

  • Fuel Ignition Live: Fuel launches Ignition, a supercharged Ethereum L2 with 21,000+ TPS using the UTXO model.

  • Saturn vs. Bitcoin MEV: Saturn's update tackles front-running and sandwich attacks with interconnected transactions and SIGHASH_ALL for immutable swaps.

  • Inscripedia Goes Live: Inscripedia launches as Bitcoin’s first decentralized publishing house, allowing users to publish and access content directly on the blockchain. A major advancement for digital assets!

  • Hermetica Launches USDh: Hermetica has secured $1.7M in funding for USDh, the first Bitcoin-backed synthetic dollar, offering yields up to 25%.