Core Foundation (Crypto: Core) announced Thursday the course of the complete integration of its architecture of double introduction with Maple Finance (Crypto: syrup), allowing institutional customers to generate yields on Bitcoin (Crypto: BTC) without bridge or asset packaging.
The collaboration, launched less than two months ago, has already attracted more than 1,200 BTC of deposits.
What happened: This integration feeds the Bitcoin Yield of Maple product, where the BTC is kept in separate police custody chests Bitgo or Copper And deployed via the native Core native interface.
Without moving Bitcoin out of chain or integrating it into synthetic assets, the configuration allows institutions to bet the BTC directly on the Bitcoin chain, associated with the native core token, the Core.
Deposits are used to borrow USDC (Crypto: USDC) with low borrowed/value ratios, acquire Core and bet both BTC and Core within the Core Validator ecosystem.
This “Double Staking” model generates yields from validators’ emissions and gas fees, generating annual yields between 4 % and 8 %.
The awards are converted to BTC and reimbursed to lenders in an equivalent manner, which maintains a native exhibition in Bitcoin for institutional participants.
“This marks a major step in the institutionalization of the bitcoin putting into play,” said Hong Sun, an institutional contributor to the Core Foundation. “Institutions require the simplicity, the compatibility of the custody and the mechanics of clear yields.”
Maple’s product manager, Joe Flanagansaid: “Core technology has enabled us to build a profitable, intuitive and ready Bitcoin product for institutionalization”.
The partnership is also a pioneer from the LSTBTC, a bitcoin token brought into play to come which will allow optimal use of BTC capital involved in trading operations and DEFI applications while preserving childcare security.
The Core-Maple collaboration shows an increasing appetite for on-chain institutional return strategies, while Bitcoin goes from a non-productive asset to a productive component of the infrastructure of decentralized finance.
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