Hello Coretoshis!
Welcome to the latest edition of Core Weekly, your go-to source for all things BTCfi & Core. In this issue, we're diving into some of the most exciting and impactful developments in the Core Chain ecosystem. Let's get started!
Core Chain Highlights
Initial Core Contributor Rich Rines, in a Forbes interview, highlighted Bitcoin’s expanding utility in DeFi. Integrating DeFi with Bitcoin enhances security and decentralization, addressing hacks and scams. Innovations like Ordinals, BRC-20, and Runes extend Bitcoin’s use beyond payments, enabling sophisticated financial applications and ushering in a new era of community-focused DeFi projects on the Bitcoin blockchain.
Proposal to expand Core Chain's validator is set from 21 to 31 by Q2 2025, aiming to enhance decentralization and resilience without affecting staking rewards for CORE stakers, BTC stakers, or miners. Seeks community approval to incorporate reputable infrastructure providers over the next 12 months.
Merkle 3s Capital, a hybrid crypto fund from Hong Kong, joins Core Venture Network by Core Foundation. This partnership aims to foster a decentralized and innovative financial ecosystem, leveraging Merkle 3s Capital's DeFi expertise and Core Venture Network's funding for emerging markets, offering stage-agnostic investment opportunities for Web3 innovators.
The second Core tech community call was hosted by Core Contributors, with representatives from Particle Network and Wizard Gallery. The discussion covered the Core Ignition Drop, the upcoming BTCFi Summer Hackathon, and how these initiatives will help users engage with the BTCFi ecosystem.Core DAO Community Highlights.
Core is excited to announce the onboarding of our 3rd batch of Core Ambassadors! These new ambassadors will play a crucial role in spreading the word about Core Chain's potential and helping others understand its utility.
Core DAO's Discord launched a brand new "Core Ignition Drop" channel! This is your go-to space to share your Ignition strategies and discover how to earn more sparks. Join Core DAO Discord server now for all the latest updates and insights on Ignition. Let’s dive in and ignite the conversation!
Tech Updates
The Bitcoin to Ethereum trustless swapping protocol has been developed, and the frontend application for the protocol will be live soon. This protocol enables cross-chain trustless swapping between Core EVM and Bitcoin assets.
The technical team is currently researching and developing a new liquid staking platform that enables any Bitcoin holder to stake their Bitcoin, receive a liquid staking Bitcoin on the Core EVM blockchain, and earn fees in Core.
Scaling Bitcoin
DeFi value approaches $100 billion: Over the last 35 days, the total value locked (TVL) in decentralized finance (DeFi) protocols has seen a significant increase of $11.89 billion, rising from a low of $83.04 billion to $94.93 billion. This total approaches the $100 billion milestone, suggesting a revitalization of confidence in the DeFi sector. With bitcoin-backed DeFi being one of the major trends in the broader crypto asset space, this should come as welcome news to coretoshis everywhere.
Potential expansion of Bitcoin’s footprint in LatAm: Officials from Argentina and El Salvado met on May 23 to discuss bitcoin regulation and adoption, marking their second meeting and signaling potential regulatory collaboration. The Argentine delegation, led by Roberto Silva and Patricia Boedo, sought insights from El Salvador’s pioneering experience with bitcoin as legal tender. The discussions focused on Salvadoran regulatory practices and the possibility of establishing collaboration agreements on cryptocurrency between the two nations. El Salvador’s Juan Carlos Reyes acknowledged Argentina's leadership in digital assets and emphasized the goal of working together to develop effective regulations. This ongoing dialogue highlights the strengthening ties between the two countries in the realm of digital assets.
American voters care about crypto: A recent Harris Poll funded by Grayscale indicates a growing U.S. voter interest in cryptocurrency, with one-third considering candidates' crypto policies important in their voting decision. The survey, which involved over 1,700 participants, reveals that 77% of voters expect presidential candidates to be knowledgeable about cryptocurrencies, reflecting a broadening belief in the potential of crypto as a vital industry.
New Dapps on Core Chain
Snackbox AI, the ultimate link-in-bio solution designed for Web3. Users can access an advanced AI chatbot, token swap, token metrics, gated content, and more—all in one place.
Viridian Exchange, a ve (3,3) AMM protocol brings a fresh perspective to the model, a platform where users and developers can interact and leverage market opportunities using a set of financial tools.
Looking to Build your next dApp in Web3?
Core Chain is the best ecosystem to deploy on at the moment. It’s EVM compatible and there are lots of resources available to get you started. Check out coredao.org for more information.
Stay tuned for more updates and insights into the world of Web3 development.
Happy coding!