According to Odaily Planet Daily, the Core Foundation recently announced that it will introduce a double pledge model to Core Chain. This new model builds on Core’s existing non-custodial Bitcoin staking system and is designed to allow Bitcoin holders to earn higher returns by staking Bitcoin and CORE tokens. The non-custodial Bitcoin staking system on Core Chain has attracted about 5,000 Bitcoins worth about $309 million since its launch in April, the foundation said.
Introduction to double pledge mode
Basic staking mode: In the existing non-custodial Bitcoin staking system, users can only pledge Bitcoin to obtain a basic "risk-free interest rate." This model is ideal for investors who want stable returns without taking on additional risk.
Double pledge mode: The newly introduced double pledge mode allows users to pledge additional CORE tokens while staking Bitcoin. Users who do this will qualify for higher “double staker rates.” This model is designed to encourage more users to participate in the Core Chain ecosystem while providing higher returns to long-term stakers.
Advantages of Double Collateral Model
Higher returns: The biggest advantage of the double-collateral model is that it can provide higher returns. By staking additional CORE tokens while staking Bitcoin, users can obtain a higher rate of return than staking only Bitcoin. This is undoubtedly a huge attraction for investors who hope to obtain higher returns from crypto assets.
Incentives for long-term staking: The Core Foundation particularly emphasizes that long-term stakeholders will receive higher returns. This means that the longer you stake Bitcoin and CORE tokens, the higher the rate of return users will receive. This design can not only stabilize the Core Chain ecosystem, but also attract more long-term investors.
Enhance ecosystem stability
The double pledge model can not only increase users' profits, but also enhance the stability of the Core Chain ecosystem. When more users participate in staking activities, the entire ecosystem will become more stable and reliable, thereby attracting more investors and developers.
Core Chain’s Growth Prospects: Core Chain’s non-custodial Bitcoin staking system has achieved significant success since its launch in April. The system has reportedly attracted around 5,000 Bitcoins worth approximately $309 million. This data shows investors’ confidence and recognition of Core Chain.
future development plans
The Core Foundation stated that it will continue to work on improving the functionality and user experience of Core Chain in the future. They plan to introduce more innovative technologies and applications to further expand Core Chain’s influence and market share.
Potential in the global market: With the rapid development of the cryptocurrency market, Core Chain has huge potential in the global market. By continuously innovating and improving user experience, Core Chain is expected to become an important player in the cryptocurrency market in the future.
in conclusion
The dual pledge model introduced by the Core Foundation undoubtedly provides users with an opportunity to earn higher returns. By staking Bitcoin and CORE tokens, users can receive a higher "double staker rate" while enjoying a basic "risk-free rate." This innovative model can not only increase users' benefits, but also enhance the stability and attractiveness of the Core Chain ecosystem.
Through this series of measures, the Core Foundation hopes to attract more users to participate in the Core Chain ecosystem and jointly promote the development of the cryptocurrency market. Whether for short-term or long-term investors, the dual pledge model provides a way to obtain higher returns and lays a solid foundation for future development.