The Core Foundation has announced a groundbreaking Dual Staking model that allows Bitcoin holders to earn enhanced yields by staking both Bitcoin and CORE tokens simultaneously. The announcement, made at the Bitcoin 2024 Conference in Nashville, represents a significant evolution in Bitcoin finance and could reshape how the crypto community thinks about BTC staking rewards.
TL;DR
- Core Foundation announces Dual Staking model (Bitcoin x CORE) at Bitcoin 2024 Conference in Nashville
- Approximately 55% of Bitcoin mining hash power is already delegated to the Core network
- Over 5,000 BTC valued at roughly $310 million have been staked non-custodially on Core since April 2024
- Dual Stakers earn higher Bitcoin yield rates by also staking CORE tokens alongside their BTC
- Core blockchain now hosts 100+ decentralized applications with $165 million in total value locked
What Is the Dual Staking Model
The Dual Staking model builds on Core network’s existing Non-Custodial Bitcoin Staking, which launched in April 2024 as the first-ever mechanism allowing Bitcoin holders to earn yield without surrendering custody of their coins. Under the original system, stakers earn what Core calls the “Bitcoin Risk-Free Rate” — paid out in CORE tokens — establishing a benchmark yield for Bitcoin comparable to the U.S. Treasury rate for dollars or Ethereum’s staking rate for ETH.
The new Dual Staking upgrade introduces a tiered reward structure. Bitcoin holders who continue staking only BTC receive the base Risk-Free Rate. However, those who also stake CORE tokens alongside their Bitcoin qualify for enhanced “Dual-Staker Rates.” The more CORE tokens a user stakes in combination with their Bitcoin, the higher the reward they receive. Additionally, users who commit to longer staking durations earn even greater yields than short-term participants.
Bitcoin Mining Hash Power Fuels Core’s Security
One of the most striking metrics revealed in the announcement is that approximately 55% of all Bitcoin mining hash power is actively delegated to the Core network. This delegation mechanism is central to Core’s Satoshi Plus consensus, which combines Bitcoin mining hash power with delegated proof-of-stake to secure the network. Bitcoin miners effectively serve as validators for Core by extending their computational work to the EVM-compatible chain.
This symbiotic relationship benefits both ecosystems. Bitcoin miners gain an additional revenue stream through CORE token rewards, while Core leverages the immense security infrastructure of the world’s most battle-tested blockchain. As of late July 2024, the Core blockchain processes transactions through over 19 million unique addresses and has completed more than 267 million transactions since its mainnet launched in January 2023.
Non-Custodial Staking Addresses a Critical Gap
Until Core’s innovation, Bitcoin holders faced a fundamental challenge: earning yield on BTC typically required handing over custody to a third party, whether through centralized lending platforms or wrapped token solutions on other chains. Core’s Non-Custodial Bitcoin Staking eliminates this counterparty risk by using a cryptographic mechanism that allows Bitcoin to remain secured on its native blockchain while generating yield through the Core network.
The market response has been substantial. In just a few months since the April 2024 launch, approximately 5,000 BTC — worth around $310 million at prevailing prices near $67,500 — have been staked through the system. The introduction of Dual Staking aims to accelerate this growth by giving stakers a compelling reason to hold and stake CORE tokens alongside their Bitcoin positions.
A Growing DeFi Ecosystem on Bitcoin
The Core blockchain’s ecosystem has expanded rapidly, now supporting over 100 decentralized applications with a combined total value locked of approximately $165 million and more than 50,000 daily active users. The network’s EVM compatibility means developers can build using familiar tools like Solidity and MetaMask, lowering the barrier to entry for teams looking to create Bitcoin-focused financial products.
Core contributors envision the Dual Staking model as closing the economic loop between Bitcoin and the Core network. As demand for Bitcoin yield continues to grow, CORE tokens could become the gateway to the most attractive Bitcoin-native yields, creating a virtuous cycle that strengthens both networks simultaneously.
Why This Matters
The Dual Staking announcement represents a meaningful step toward transforming Bitcoin from a passive store of value into an active yield-generating asset — without compromising its core security principles. With over half of Bitcoin’s mining hash power already participating in Core’s consensus, the network has achieved a level of integration with Bitcoin’s security infrastructure that no other EVM-compatible chain can match. For miners, the additional CORE token rewards provide a welcome revenue diversification at a time when block rewards continue their long-term decline following each halving cycle. The combination of non-custodial staking, mining hash power delegation, and now Dual Staking positions Core as a central player in the emerging BTCfi ecosystem.
This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always conduct your own research before making investment decisions.
55% of mining hash power delegated to core. thats not a small experiment anymore, thats a serious commitment from miners
55% hash rate is what got me to look seriously at CORE. miners dont delegate to something they dont trust
non custodial BTC staking without wrapping or bridging. if this works it solves the biggest UX problem in BTC DeFi
5000 BTC staked at 310M value since april. the dual staking tiers are smart, incentivizes people to hold CORE alongside BTC
sats_compound the dual staking model is clever because it creates buy pressure on CORE without forcing BTC holders to sell. aligned incentives across both token communities
5000 BTC staked at an avg of $62k per coin. the math on that dual staking tier system must be insane for BTC holders to lock up that kind of value
staking_yield_42 5000 BTC locked in dual staking tiers. the buy pressure on CORE from the tier system is the hidden story here
staking_yield_42 the dual staking tiers reward you for locking CORE alongside BTC. clever way to bootstrap a token economy without forcing BTC holders to sell
55% hash rate delegated is massive but it also means core is dependent on miner goodwill. if that delegation drops the network loses its main value prop
$165M TVL across 100+ dApps on Core. those numbers would have been impressive for an L1 in 2021 let alone a BTC sidechain
55% of mining hash delegated sounds impressive until you realize it means miners are just double dipping. they get BTC rewards AND CORE tokens for pointing hash at a chain nobody uses
55% of BTC hash power delegated to Core is the strongest validator signal you can get. miners run razor thin margins and dont commit hash to something they expect to fail
55% of hash power delegated is the real signal here. miners run thin margins and dont delegate to networks they expect to fail. the numbers validate the model
5000 BTC staked worth 310M at an avg of 62k per coin. the dual tier system forcing you to lock CORE alongside BTC to get better yields is clever bootstrapping
non custodial staking without wrapping is the holy grail. wrapped BTC on ETH has been a security nightmare for years
Fatou Ndiaye wrapped BTC on eth being a security nightmare is exactly right. wBTC custodial risk alone should have killed it years ago. non-custodial is the only path
agreed, wrapped BTC is a ticking time bomb. non-custodial staking without wrapping is the only path forward for BTC DeFi
55% of hash power delegated means core is dependent on miner goodwill. if that delegation drops the network loses its main value prop overnight
btc_delegate_ 55% hash rate delegation is a double edged sword. miners are rational, if a better staking option appears they pull hash overnight
btc_delegate_ 55 percent hash delegation sounds impressive until you realize its concentrated among 5 mining pools. one governance change and its gone
non custodial staking without wrapping is the only real path for BTC DeFi. wBTC custodial risk should have killed it years ago
Niamh C. non-custodial staking without wrapping is the right thesis. the question is whether Core can survive long enough for institutions to care