In May, the partners launched the first yield-bearing BTC ETP in Scandinavia.

DeFi Technologies to Launch Validator Node on Core Chain and Stake $100 Million in BitcoinDeFi Technologies, through its subsidiary Valour, is set to launch a validator node on the Core Chain and stake nearly $100 million in Bitcoin (BTC). This move will allow the Toronto-based company to receive rewards for validating transactions and staking. The initiative aligns with DeFi Technologies’ strategy to bridge traditional finance with blockchain technology.

Key Details:

- Validator Node and Staking:
- DeFi Technologies will launch a validator node on Core Chain, leveraging Core’s Ethereum Virtual Machine-compatible consensus mechanism on its layer-1, BTC-powered blockchain.
- The company will stake almost $100 million in Bitcoin, retaining custody of the BTC throughout the lockup period and earning rewards in CORE tokens.
- Staked CORE provides a reward rate of 11.66%.

- CEO's Statement:
- Olivier Roussy Newton, CEO of DeFi Technologies, stated, “We are advancing our mission to bridge traditional finance with innovative blockchain technology […] This approach offers our investors unique exposure to yield and growth within the digital asset space."

- Security and Hash Power Distribution:
- Core Chain maintains security by distributing 50% of Bitcoin mining hash power to the blockchain.
- Currently, over 2,800 BTC are staked on Core, excluding the new stake from DeFi Technologies.

Previous Collaborations:

- Valour Bitcoin Staking ETP:
- On May 10, DeFi Technologies and Core launched the Valour Bitcoin Staking exchange-traded product (ETP) on the Nordic Growth Market exchange, denominated in Swedish krona.
- This product claims to be the first yield-bearing BTC ETP, offering a 5.65% yield with a 1.9% management fee.

- Future Launches:
- The partners plan to introduce a Core ETP that will provide yield through BTC staking.

Valour's ETP Offerings:

- ETPs:
- Valour offers exchange-traded products (ETPs) backed by 12 different cryptocurrencies, including Uniswap and Polkadot.
- It also offers a 10-coin basket, Bitcoin Carbon Neutral (BTCN), and the STOXX Bitcoin Suisse Digital Asset Blue Chip X Index.
- Some of these ETPs have no management fees.

Financial Position and Recent Moves:

- BTC as Primary Treasury Reserve:
- On June 10, DeFi Technologies adopted Bitcoin as its primary treasury reserve asset, purchasing 110 BTC as part of this strategy.
- This announcement resulted in a 23% increase in DeFi Technologies' share price.

- Financial Standing:
- As of May 31, DeFi Technologies held a cash balance of $51 million.
- Valour’s assets under management (AUM) have grown to $607 million as of the latest figures, up from $274 million in mid-March 2022.

Conclusion:
DeFi Technologies' launch of a validator node on Core Chain and significant Bitcoin staking investment reflects its commitment to integrating traditional finance with cutting-edge blockchain technology. This strategy not only enhances their digital asset yield potential but also positions the company as a pioneer in the blockchain finance sector. The collaboration with Core Chain and the continuous expansion of Valour’s ETP offerings further underscore DeFi Technologies’ innovative approach and growth trajectory in the crypto market.