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 btc hash power delegated already? thats massive if the numbers are real
5,000 BTC staked non custodially worth 310M at the time. wonder how much is still locked now
the tiered reward structure where you stake CORE alongside BTC is basically bribing people to buy your token. classic dual tokenomics
non custodial btc staking paying out in CORE tokens is not really btc yield imo. youre earning exposure to another token
100+ dapps and 165M TVL is solid for a chain most people still havent heard of. nashville announcement got buried under all the trump btc drama though