DeFi Technologies launches Core chain validator, stakes 1,498 Bitcoin

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In May, the partners launched the first yield-bearing BTC ETP in Scandinavia.

DeFi Technologies will launch a validator node on Core Chain and stake almost $100 million in Bitcoin (BTC) on it. Toronto-based DeFi Technologies will receive rewards for validating transactions and staking rewards through its subsidiary Valour. 

Staking is enabled by Core’s Ethereum Virtual Machine-compatible consensus mechanism on its layer-1, BTC-powered blockchain. DeFi Technologies CEO Olivier Roussy Newton said:

Stakers retain custody of their BTC throughout the lockup period and receive rewards in CORE token, which is reinvested in the product. Staked CORE provides a reward of 11.66%.

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