BitGo, a leading crypto custodian that provides safe ways to handle digital resources, has integrated dual Bitcoin (BTC) staking through Core DAO, allowing institutional clients to earn higher yields on their holdings.
BitGo revealed its partnership with Core DAO is to provide institutional clients with scalable Bitcoin incentives via Core’s dual staking mechanism. BitGo is thus among the first custodians offering this service.
Core’s staking solution lets BTC holders retain full custody of their assets, avoiding counterparty risk. This gives institutional investors a secure way to earn yield.
Mike Belshe, CEO of BitGo, said the integration with Core expands yield opportunities for institutional clients while maintaining security.
Methods for staking Bitcoin include custodial lending, DeFi lending with wrapped Bitcoin, Bitcoin layer-2 staking, and restaking. Restaking involves staking BTC with an intermediary protocol for rewards from other blockchains.
Core’s non-custodial Bitcoin staking locks BTC to secure Core’s blockchain in exchange for Core (CORE) tokens. Dual staking offers higher rewards for those who stake CORE tokens.
Rich Rines, a founding contributor of Core DAO, said dual staking provides better returns than traditional methods and some DeFi options, making it attractive to institutional clients.
BitGo enables institutional clients to earn higher rewards while avoiding risks like slashing, credit issues, counterparty risks, and smart contract vulnerabilities. Clients can lock BTC and stake CORE tokens directly from BitGo’s platform.
This collaboration increases BitGo’s Bitcoin staking services for companies looking for safe yield solutions. Its connection with Core DAO lets these top clients keep control of their holdings and receive more BTC incentives.
Meanwhile, Babylon Labs, which creates native use cases for BTC, has announced that the protocol’s staking capacity will increase with the launch of Cap-3 in its mainnet phase 1. The new development creates a 1,000 BTC block staking window, expanding on the success of Cap-2, which generated a TVL of 23,857 BTC ($2 billion at today’s market) in 10 BTC blocks.
Cap-3 enables the Babylon protocol to remain the most significant and largest staking solution in the Bitcoin ecosystem.
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