The Core Foundation, the entity committed to growing Core’s core BTCfi ecosystem, announced the addition of Solve to its set of validators, an important step in improving the security and decentralization of the core blockchain ecosystem. The move comes as the network continues to expand its footprint in the Bitcoin and BTCfi staking space.
Core blockchain validators play a crucial role in maintaining the integrity of the network. They validate transactions, produce new blocks and ensure that the blockchain respects its rules and protocols. Solv, the leading Bitcoin staking platform, will now help safeguard the core ecosystem. Their election as validators underscores Core’s commitment to building a robust and secure network.
This addition comes as Solv recently announced that it had successfully raised $11 million at a valuation of $200, bringing its total funding to $25 million. The new capital will be fuel the expansion of their Staking Abstraction Layer (SAL), advocating for the mass adoption of Bitcoin Staking. The tour included Nomura subsidiary Digital Laser, Blockchain capitalization, OKX Enterprisesand Core Ventures, the strategic venture capital arm of blockchain Core. Solv Protocol’s SolvBTC product has over 20,000 BTC staked ($1.3 billion) deployed across 10 major blockchain networks. More recently, in early October, Core and Solv joined forces to launch SolvBTC.COREa liquid staking token for Bitcoin, where 500 SolvBTC were staked on SolvBTC.CORE in less than 2 hours. Contributing to this traction is Core Ignition Dropan incentive platform where participants can further improve their returns through DeFi activities.
“At Solv, we are excited to join forces with Core as a validator and help secure the next wave of Bitcoin innovation. With SolvBTC.CORE, we allow users to stake their Bitcoins and earn real returns, while maintaining full liquidity and enjoying optimal access. in DeFi applications. Our Staking Abstraction Layer (SAL) simplifies and standardizes Bitcoin staking. SolvBTC.CORE is one of the first products introduced under the SAL framework, demonstrating our mission to make Bitcoin staking more accessible to everyone,” said Ryan Chow, co-founder and CEO of Solv Protocol.
Core’s unique approach to security combines the mining power of Bitcoin with Ethereum-compatible blockchain infrastructure. Approximately 55% of Bitcoin’s mining hashing power contributes to securing Core, which operates using the Satoshi Plus consensus mechanism, an innovative model that merges Delegated Proof of Work (DPoW) with Delegated Proof of Stake (DPoS). ). This allows Core to benefit from the established security of Bitcoin while supporting smart contract execution and decentralized applications.
The role of validators goes beyond simple security. Through an epoch-based election cycle, validators like Solv are elected based on the Bitcoin and CORE tokens put in their favor, as well as the Bitcoin hashing power delegated to them. Validators are rewarded for their efforts and share these rewards with delegates who stake CORE tokens or contribute hashing power.
With the addition of Solv, Core aims to further decentralize its network while increasing the trust and stability of the blockchain. As Core continues to grow, these collaborations highlight growing confidence in the network’s security model, attracting both institutional and individual participants.
Core launched Non-Custodial Bitcoin Staking in April 2024, allowing users to earn a risk-free return by locking their Bitcoin into fixed-term contracts, without giving up custody. This product has seen significant adoption, with nearly 5,000 Bitcoins staked, as it offers Bitcoin holders the opportunity to generate yield without additional risks. Furthermore, the BTCfi ecosystem on Core is already growing, with over $400 million in TVL and over 80,000 daily active users. Core’s ecosystem supports DeFi applications, staking, payments, gaming, NFTs and more, all built on the secure foundation of Bitcoin.
This latest development marks an important milestone for Core as it seeks to strengthen its position as a secure, Bitcoin-aligned blockchain platform.
About Core
Core serves as the proof-of-stake layer for Bitcoin as the first enabler of self-custodial Bitcoin staking, which secures a fully EVM-enabled BTCfi ecosystem. Since April 2024, over 6,000 BTC worth over $394 million has been staked with Core, improving the utility and security of Bitcoin.
Core is the most Bitcoin-aligned EVM blockchain with approximately 55% of Bitcoin mining hash power contributing to the security of the network. This breakthrough amassed millions of lead adopters – more 22.5 million unique addresses, Over 292 million transactionsAnd more than 444 million TVL since its launch on the mainnet in January 2023.
