Bitcoin Staking Platform Core Partners Crypto Lender Maple to Improve BTC Staking

Core Foundation, the creator of the yield-bearing Bitcoin token lstBTC, is spearheading yield-bearing strategies through a strategic partnership with institutional lending protocol Maple Finance and prominent custody firms BitGo, Copper, and Hex Trust.

This collaboration aims to unlock significant potential within the Bitcoin staking sector, catering specifically to the needs of institutional investors.

Core Collabs With Maple

Core’s IstBTC token offers a compelling proposition. Institutional participants can generate yield on their Bitcoin holdings while maintaining trusted custodial partners’ security and regulatory compliance.

Furthermore, this eliminates the complexities and risks associated with direct engagement with smart contracts, a considerable barrier for many institutional investors. This approach significantly differs from traditional staking methods, offering a far more accessible and manageable entry point for large-scale Bitcoin holders.

Further enhancing this offering is Maple Finance’s impending launch of a liquid staking token (lstBTC). lstBTC, which will launch in the coming months, will enable users to use staked Bitcoin as collateral for borrowing in decentralized finance (DeFi) ecosystems and with traditional trading counterparties.

The emergence of yield-bearing Bitcoin solutions has quickly become a focal point of industry discussion, with protocols like Babylon already demonstrating market traction.

Maple CEO Address Core Partnership

This trend is poised for explosive growth, according to Maple Finance CEO Sid Powell. Powell highlights the vast untapped potential within the existing Bitcoin holder base and emphasizes that Core’s dual-staking mechanism will empower a significant segment of the market to finally generate yield on their Bitcoin assets.

Powell also highlights the broader implications of this development for Bitcoin network security.

“Bitcoin’s security budget will face problems in a few years as miners receive less block rewards revenue. Staking solutions like CORE can help strengthen Bitcoin network security by giving alternative revenue sources to miners. Holders of lstBTC will benefit from this by earning yield on their BTC while in custody, which represents an immense total addressable market,” he noted.

Maple Finance has already launched an initial BTC staking product on the Core platform. It offers a 90-day lock-up period and a targeted yield of 5% or more annual percentage yield (APY).

Powell asserts that Core’s strategic partnerships and innovative approach position the company for market leadership.

“There are few BTC yield options out there. If you look across the stack, most of them are just points and they’re not liquid yet or delivering yield in BTC,” he said.