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The metrics are accurate at the time of publication. The percentage change is over a 14-day period.
🔸What we’re watching: BITS launched a yield primitive protocol to Core for users to earn 2.5% APY on their bitcoin holdings.
🔸Why it matters: The BITS protocol generates yield by lending deposited bitcoin and wrapped bitcoin to vetted institutional borrowers, with assets securely custodied by BitGo. Depositors receive BITS tokens in exchange, a liquid asset that mirrors the price of bitcoin and allows users to accrue interest up to 4.4% APY (when locked for five months.)
This setup functions like traditional savings vehicles, allowing users to earn steady returns without direct exposure to lending risks. Since BITS tokens are fully composable, it can be used in Core’s DeFi ecosystem and provide liquidity on DEXs or collateral in lending protocols.
For ecosystem users, it provides more ways to generate bitcoin rewards using Core, giving retail and institutional investors a sustainable BTCfi framework.
Furthermore, this development can strengthen Core’s appeal to institutional investors by integrating bitcoin-native yield with regulatory compliance. Through BITS’ platform, it looks to simplify onboarding for institutions that may be new to BTCfi. In addition, it leverages Core’s fee infrastructure to create a path that is low cost, while integrating familiar DeFi functionalities.
🔸The bigger picture: As institutional interest in web3 grows, BITS showcases Core’s position in the BTCfi sector, offering a regulated pathway for bitcoin yield.
This launch further establishes Core as a hub for protocols to attract capital allocators seeking compliant, low-risk exposure to bitcoin. If BITS gains traction among institutions, it could demonstrate that blockchain technology can unlock bitcoin yield markets that may have previously been out of reach. In turn, it reinforces Core’s role as a network for accessible, transparent bitcoin rewards.
Core dApp metrics have risen on the week, DappRadar data shows:
BitGo released a case study about Core’s role in providing bitcoin rewards to institutions in a compliant manner
Check out these X spaces that dive into the Core ecosystem and network players:
Check out the Core blog for more updates.
Unique active wallets for World of Dypians surged nearly 221% on the week to 126.95K, according to DappRadar data
B14g reached an all-time high of $315.9M in TVL for its bitcoin dual-staking layer, DefiLlama data shows
Fiamma deployed a bitcoin bridge across Core and 11 other blockchains to expand bitcoin interoperability capabilities
Molten enabled automated farming for its Core-powered bitcoin yield protocol
Want to dive deeper into the Core blockchain?
Check out Core Ventures’ BTC-FI program, a 14-week accelerator that supports early-stage teams building staking, yield and liquidity products on Core
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.