DeFi
DeFi Technologies announces the launch of the Core Chain Validator
- Launching the Core Chain Validator node: DeFi Technologies has deployed an independent validator node on the Core Chain as part of its DeFi Infrastructure business line.
- Strategic collaboration: This initiative is part of a broader collaboration with Core Foundation, which began with the development of innovative Bitcoin ETPs, including Valor’s Yield Bearing BTC ETP and a new Core ETP.
- Staking 1,498 BTC: DeFi Technologies, through its subsidiary Valor Inc., will stake 1,498 BTC, participating in non-custodial Bitcoin staking and earning rewards through Core’s consensus mechanism.
TORONTO, June 11, 2024 (GLOBE NEWSWIRE) — DeFi Technologies Inc. (THE “Business” Or “DeFi Technologies“) (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company and the first and only publicly traded company bridging the gap between traditional capital markets, Web3 and finance decentralized is pleased to announce that it has deployed a Core Chain validator node to act as an independent validator for the network. The launch of the node is part of the company’s DeFi Infrastructure business line, contributing to the mission of. decentralized finance. The company will also stake 1,498 BTC on the Core Chain.
This initiative follows the strategic collaboration between DeFi Technologies and Core Foundation, announced earlier this year on May 15, 2024, initially aimed at developing innovative Bitcoin Exchange Traded products (“”AND P “). This partnership included the launch of groundbreaking products such as Valor’s BTC Yield Bearing ETP and an upcoming novel CORE ETP, leveraging Core Chain’s unique blockchain features to introduce yield opportunities via BTC staking.
Core Chain is a cutting-edge, Bitcoin-powered, EVM-enabled blockchain that integrates Bitcoin miners and BTC stakers into its security in exchange for rewards. Validators are a fundamental part of Core’s consensus mechanism, Satoshi Plus Consensus, responsible for validating transactions and producing blocks on the Core network.
By processing transactions and participating in consensus, DeFi Technologies will support the growth and performance of the Core Chain network. As part of running the node, DeFi Technologies can receive rewards by securing transactions on the security of the Core Chain. Additionally, the company participates in staking 1,498 BTC, earning staking rewards through its wholly owned subsidiary, Valor Inc.
Due to the unique nature of Core Chain’s Satoshi Plus consensus, Bitcoin staking is non-custodial, allowing any Bitcoin holder to earn yield by staking their Bitcoin tokens without giving up custody.
“We are excited to take this significant step with the launch of our Core Chain validator node,” said Olivier Roussy Newton, CEO of DeFi Technologies. “This initiative not only reinforces our commitment to the decentralized finance ecosystem, but also strengthens our strategic partnership with Core Foundation. By staking 1,498 BTC and participating in network consensus, we are advancing our mission to connect traditional finance with innovative blockchain technology, specifically leveraging Bitcoin. potential. This approach provides our investors with unique exposure to performance and growth in the digital asset space.
About Core
Core is a Bitcoin-powered, EVM-enabled Layer 1 blockchain responsible for bringing Bitcoin finance to life with the first-ever non-custodial BTC staking protocol and the world’s first yielding BTC ETP with Valour. Core is the most Bitcoin-aligned EVM blockchain with approximately 50% of Bitcoin mining hash power contributing to network security and more 2,800 BTC natively put in exchange for utility unlocking and Bitcoin rewards. This breakthrough brought together a massive community of 2.3 million Twitter followers and 265,000 Discord members, resulting in millions of lead adopters – over 18 million unique addresses And 256 million transactions since its launch on the mainnet in January 2023.
About DeFi technologies
DeFi Technologies Inc. (CBOE CA: CHALLENGE) (GR: R9B) (OTC: DEFTF) is a fintech company pioneering the convergence of traditional capital markets with the world of decentralized finance (DeFi). Focusing specifically on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Supported by an esteemed team of experts with extensive experience in financial markets and digital assets, we are committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem. Join the DeFi Technologies digital community on Linkedin And Twitterand for more details visit https://defi.tech/
About Valor
Valor Inc. and Valor Digital Securities Limited (together, “Value“) issues products traded on an exchange (“AND P “) which allow individual and institutional investors to access digital assets like Bitcoin simply and securely through their traditional bank account. Valor is part of the asset management business segment of DeFi Technologies Inc. (CBOE CA: CHALLENGE) (GR: R9B) (OTC: DEFTF).
In addition to their new physical-backed digital asset platform, which includes 1Valor Bitcoin Physical Carbon Neutral AND P, 1Valor Ethereum physical stakingAnd Physical Staking of 1Valour Internet Computers, Valor offers fully hedged digital asset ETPs with low to no management fees, with product listings on European exchanges, banks and brokerage platforms. Valor’s existing product line includes Valor Uniswap (United), Cardano (ADA), Peas (POINT), Solana (GROUND), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Ripple (XRP), Toncoin (TONNE), computer Internet (PCI), Chain link (LINK) Enjin (ENJ), Valor Bitcoin Staking (BTC), carbon-neutral Bitcoin (BTCN), Valor 10 Digital Asset Basket (VDAB10) And 1Valor STOXX Bitcoin Switzerland Blue Chip Digital Asset ETP with low management fees. Valor’s flagship products are Bitcoin Zero and Ethereum Zero, the first passive investment products fully hedged with Bitcoin (BTC) and Ethereum (ETH) as completely free underlyings.
For more information about Valor, to subscribe, or to receive updates and financial information, visit value.com.
Caution regarding forward-looking information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the launch of a Core Chain validation note; staking of BTC within the Core Chain; the development and listing of future ETPs; the regulatory environment as it relates to the growth and adoption of decentralized finance; the pursuit by the Company and its subsidiaries of business opportunities; and the merits or potential returns of such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, but are not limited to, acceptance of Valor exchange-traded products by exchanges; the growth and development of the decentralized finance and cryptocurrency sector; rules and regulations regarding decentralized finance and cryptocurrency; general uncertainties related to business, economics, competition, politics and society. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or planned. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update any forward-looking information except in accordance with applicable securities laws.
THE CBOE CANADA EXCHANGE DISCLAIMS ANY RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
For more information, please contact:
Olivier Roussy-Newton
General manager
ir@defi.tech
(323) 537-7681