Announcing LstBTC: Core’s Game-Changing Bitcoin Liquid Staking Token

Announcements
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Core Foundation announced today the upcoming launch of LstBTC, an ERC-20 liquid staking token pegged 1:1 with Bitcoin (BTC) on the Core blockchain. This marks a significant milestone for both Bitcoin and Core’s BTCfi ecosystem, enabling BTC holders to earn staking rewards without sacrificing liquidity—a game-changer for DeFi enthusiasts and Bitcoin holders alike.

What is LstBTC?

LstBTC is an ERC-20 compliant token fully backed by Bitcoin, offering the perfect solution for BTC holders who want to participate in staking while keeping their assets liquid. With LstBTC, you no longer need to choose between locking up your Bitcoin for rewards or keeping it accessible for lending, swapping, or other DeFi activities. It’s the best of both worlds!

How Does LstBTC Work?

  • 1:1 Peg to Bitcoin: Each LstBTC token is fully backed by one BTC, ensuring stability and preserving the value of your Bitcoin.
  • Daily Rewards in CORE: By holding LstBTC, users earn daily staking rewards in CORE tokens, creating a consistent stream of returns without locking up their Bitcoin.
  • Full Liquidity: LstBTC tokens can be used just like any other ERC-20 token—lend, borrow, transfer, or swap them in DeFi markets while continuing to earn rewards.
  • Enhanced Security with Multisig Setup: LstBTC operates on an advanced Multisig setup on the Bitcoin network introduced by Core.

A New Chapter in the BTCfi Ecosystem

LstBTC is set to further expand Core’s comprehensive BTCfi ecosystem, which includes decentralized exchanges (DEXs), lending and borrowing platforms, NFT markets, perpetual futures, and more. By bridging the gap between staking and liquidity, LstBTC opens up new opportunities for BTC holders to maximize their returns.

Why LstBTC?

  • Unlock liquidity: Maintain full access to your Bitcoin for DeFi participation while earning staking rewards.
  • Maximize your BTC: Earn daily rewards in CORE tokens without compromising liquidity.
  • Security-focused: Built on Core’s blockchain with Multisig-backed security.
  • Addressing the Liquidity Challenge: LstBTC eliminates the traditional trade-offs of locking up assets by allowing users to keep their BTC liquid while earning rewards, solving the age-old problem in the world of Bitcoin DeFi.

Join the Future of Bitcoin Staking

LstBTC offers BTC holders unprecedented flexibility and opportunity. Whether you’re a long-time Bitcoin holder or new to the space, LstBTC enables you to earn rewards, maintain liquidity, and participate fully in DeFi.

Stay tuned for more updates as the Core ecosystem evolves and unlock the full potential of BTCfi.

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Is there a dashboard one can use to track LstBTC (flows to different chains/dApps, backing, circulating supply, reserve, etc.)?

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Hi @AakashPYOR
LstBTC is still not live on the Core Mainnet and is currently available on the Core Testnet. Once we go live, there would surely be tools for it.

Check out LstBTC: https://stake.test.btcs.network/lstbtc

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Hey Maryam. Thanks for the response and a link to the page. I asked the question about the dashboard for LstBTC because we (at PYOR) can help build this tool out for the Core Community. Let me know if this is of interest to you and other key community members.

If this is – I’d love to chat further to see how we can support the Core team with data and research.

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Thanks for your interest. Will circle back to you after reaching out to team

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Great. If this is something we can work on DM on Telegram – @AakashAtha.

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