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Launching Liquid Staking on Core Chain: Introducing stCORE

5 min read
Launching Liquid Staking on Core Chain: Introducing stCORE

Core Chain is excited to announce the launch of Liquid Staking, a game-changing feature for CORE token holders. The brand-new stCORE is designed to enhance the utility of the CORE token and simplify the staking process. This initiative allows token holders to maximize their asset potential with greater flexibility and efficiency.

What is Liquidity Staking? Staking CORE helps secure the network but prevents token holders from being exposed to different DeFi protocols as their tokens cannot be transacted. Minting a new Liquidity Staking Token unlocks a world of possibilities, allowing token holders to utilize their tokens in different interactions across a DeFi ecosystem.

Essentially, liquid staking unlocks liquidity for staked tokens, building upon existing staking systems.

Getting Started: Prerequisites Before diving into liquid staking with stCORE, ensure you have:

  1. A sufficient CORE token balance in your wallet.
  2. Access to the Core Liquid Staking Platform
  3. Your wallet connected to the platform.
  4. Minting stCORE

Minting stCORE is straightforward:

  1. Click ‘Mint stCORE’ on the platform.
  2. Enter the amount of CORE you wish to convert.
  3. Confirm the action and approve the transaction in your wallet.
  4. Add stCORE to your wallet for easy tracking.

Redeeming CORE from stCORE To redeem your CORE from stCORE:

  1. Start the process by selecting ‘Redeem CORE’.
  2. Enter the amount of stCORE to redeem.
  3. Confirm the action and approve it in your wallet.
  4. A 7-day unlocking period begins, during which you can track your progress.
  5. Once the period is over, you can withdraw CORE to your wallet.

This new feature marks a significant milestone in our journey towards making blockchain technology more accessible and user-friendly. We believe stCORE will empower our community members to leverage their assets more effectively, paving the way for a more flexible and inclusive financial ecosystem.

Core Chain’s Commitment Core Chain is leading the way as an innovative Layer 1, uniquely positioned at the intersection of Bitcoin’s principles and Ethereum’s composability. This fusion makes Core Chain a first-of-its-kind “Bitcoin-aligned” chain, offering a platform that is not just technically advanced but deeply rooted in the early visions of Web3 from 2008.

With a commitment to decentralization, scalability, and security, Core Chain is revolutionizing BTCfi and making Web3 mass adoption a reality.

We’ll be continuously updating this announcement with more information, so stay tuned to our updates for the latest on liquid staking with stCORE.

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