Hashnote Integrates Core to Pioneer Enhanced Bitcoin Yield Opportunities

On-chain asset manager Hashnote is making significant strides in the burgeoning Bitcoin bridging market by strategically integrating Core, a proof-of-stake (PoS) layer designed to maximize Bitcoin’s potential. This collaboration aims to unlock new yield opportunities for investors while addressing key concerns such as custody and credit risks.

Core: A Revolutionary PoS Layer for Bitcoin

Core, launched in January 2023, is an innovative end-to-end PoS layer for Bitcoin that facilitates non-custodial BTC staking. By enabling an Ethereum Virtual Machine (EVM)-compatible ecosystem—dubbed BTCfi—Core merges Bitcoin’s security with the flexibility of decentralized finance (DeFi). This unique combination has positioned Core as a pivotal player in the Bitcoin finance ecosystem.

The integration with Hashnote brings Core’s capabilities to a wider audience, providing a seamless avenue for institutional and retail investors to earn Bitcoin yields. According to a press release shared with crypto.news, Hashnote will leverage Core’s advanced technology to ensure that users gain exposure to Bitcoin yields without facing additional credit or custody risks.

The Strategic Integration

Hashnote’s integration with Core enables investors to tap into dual staking opportunities. By staking both BTC and CORE, the native token of the Core ecosystem, investors can maximize their returns. Core’s non-custodial mechanism ensures that all staked BTC remains under the full ownership of investors, mitigating risks commonly associated with staking, such as slashing, trust assumptions, or counterparty vulnerabilities.

Hong Sun, an institutional contributor at Core, highlighted the significance of the collaboration, stating:

“This collaboration showcases the growing demand for secure, sustainable, and scalable Bitcoin yield solutions, especially for institutions. Hashnote’s leadership in this space sets the stage for an exciting new era of Bitcoin DeFi.”

A Foothold in the Bitcoin Bridging Market

With the Bitcoin layer-2 bridging market projected to grow into a $47 billion ecosystem by 2030, Hashnote’s partnership with Core places it at the forefront of this rapidly expanding sector. Core’s innovative approach—combining Bitcoin’s timelock functionality with its non-custodial staking mechanism—eliminates traditional risks, offering a robust and scalable solution for investors.

Core’s growing dominance is evident in its performance. As of April 2024, the platform has facilitated the staking of over 5,300 BTC, driving its total value locked (TVL) to an impressive $920 million. According to DeFiLlama, Core accounts for more than 30% of the total TVL in Bitcoin sidechains, underscoring its pivotal role in the Bitcoin DeFi ecosystem.

Bridging Bitcoin to the Future of DeFi

This partnership between Hashnote and Core exemplifies the evolving landscape of Bitcoin DeFi, where innovative solutions meet the growing demand for sustainable and secure yield opportunities. By integrating Core’s cutting-edge technology, Hashnote is not only enhancing Bitcoin’s utility but also paving the way for a more inclusive and dynamic financial ecosystem.

As the Bitcoin bridging market continues its upward trajectory, this collaboration marks a significant milestone in the journey toward unlocking Bitcoin’s full potential. With institutions and retail investors alike seeking efficient yield solutions, Hashnote and Core’s partnership is set to lead the charge in the next phase of Bitcoin’s evolution.