TLDR
- The partnership involves Core Foundation, Maple Finance, and custody firms like BitGo, Copper, and Hex Trust, aiming to roll out lstBTC, a liquid staking option for institutional Bitcoin holders.
- The newly unveiled token is designed to offer institutions a way to earn returns on their Bitcoin investments while still keeping their custodian setups intact.
- Maple Finance is scheduled to release the liquid staking token soon, allowing staked Bitcoins to serve as collateral in decentralized finance platforms.
- The current feasible yields exceed 5% on an annual basis for a 90-day commitment, although the liquid staking variant is anticipated to offer slightly reduced rates due to its broader flexibility.
- Within the Core blockchain ecosystem, over 5,500 Bitcoins and 165 million CORE tokens are currently being staked, amassing up to $850 million in locked-in value.
Core Foundation and Maple Finance have announced a new Bitcoin staking project tailored for institutional backers to gain yield, while trusting their Bitcoin with reputable custody services. This initiative, revealed on February 17, 2025, features major custody partners like BitGo, Copper, and Hex Trust.
With lstBTC, Bitcoin transforms into a yield-producing instrument that requires no withdrawal from existing custody. This breakthrough emerges as the cryptocurrency world seeks innovative solutions to make Bitcoin assets more productive.
Sid Powell, the CEO of Maple Finance, highlighted that the current Bitcoin staking offer, launched earlier this month, presents yields over 5% annually for 90-day lock periods. The forthcoming liquid staking token will allow immediate redemption, albeit with slightly lesser yields owing to the enhanced liquidity.
The Core network is home to over 5,500 staked Bitcoins and 165 million CORE tokens, boasting more than 350 million transactions and managing $850 million in total locked value since its mainnet introduction in January 2023.
Institutional investors can create lstBTC by transferring their Bitcoin to connected custodian entities. This token remains fully tradeable, enabling holders to transfer, exchange, or use it as collateral while earning interest. Redeemed tokens return the original Bitcoin plus accumulated yields into the investors' custodial accounts.
Core's dual-staking mechanism permits Bitcoin to earn CORE-related rewards while preserving the network's security. Maple Finance supervises the yield strategies, applying high-grade risk management protocols.
Hong Sun from Core DAO described the endeavor as groundbreaking for institutional Bitcoin investors. This alliance blends Core’s blockchain capabilities, Maple’s risk management expertise, and the security systems from long-established custodians.
Institutional Staking Takes Shape
The lstBTC token is crafted as a solution for institutional entities held back by the usual dilemma of earning generated returns while upholding security and operational fluidity. Targeting portfolio managers, ETP issuers, accredited clients, and market intermediaries.
The Core blockchain has garnered substantial support from Bitcoin from miners, accounting for roughly 80% of Bitcoin's mining power focused on securing the network. This integration has been pivotal in attracting over 40 million unique users to the platform.
Core evolves as Bitcoin’s first layer to adopt Proof of Stake and stands as the most robust Bitcoin DeFi ecosystem. It juxtaposes Bitcoin’s intrinsic security attributes with their own Satoshi Plus consensus to enhance scalability.
Maple Finance, established in 2021, brings its solid background as a loan issuing platform within DeFi to the collaboration. They introduced SYRUP token in 2024 to empower community engagement through staking and decision-making roles.
Established in 2013, BitGo powers a substantial component of Bitcoin of network transactions and has grown into the largest independent provider of digital asset custody and staking services globally. The firm supports many institutions alongside millions of individual investors worldwide.
Copper, since its inception in 2018, has concentrated on custody and collateral solutions tailored for institutional clientele. Their innovative ClearLoop technology enables clients to manage collateral and perform cross-exchange settlements.
Also founded in 2018, Hex Trust provides regulated institutional-grade services in digital asset custody, staking, and marketplaces. They cater to developers, investors, and service providers with their comprehensive infrastructure.
The lstBTC token is now open for institutional engagements. Interested parties are encouraged to visit lstbtc.coredao.org or establish direct contact with Core for further details.
