Core Chain helps create the first yield-bearing Bitcoin ETP
Core Chain helps create the first yield-bearing Bitcoin ETP
You can now earn a 5.65% yield through a Bitcoin ETP (in select locations)
Hello Bitcoin Builders!
Welcome to another week of the Bitcoin Builder Association newsletter. Every week, we aim to keep you updated on the busy Bitcoin builder ecosystem.
This week, Core Chain announced the first yield-bearing Bitcoin ETP in collaboration with Valour, an issuer of Digital Asset ETPs.
Bitcoin Layers conducts a risk analysis of Core Chain, noting “Core (in relation to Bitcoin) is an EVM sidechain with a hybrid consensus mechanism, Satoshi Plus, that leverages both DPoW and DPoS.”
Core Chain’s announcement shows the potential for yield-bearing staking products wrapped in traditional finance products, like ETPs and ETFs. Read more from Decrypt.
Bitcoin Layers:
The Babylon team announced new entrants to their ecosystem. Check out the linked article for a look into the many projects building with Babylon.
More on Babylon: “The Babylon Staking Protocol allows Proof-of-Stake (“PoS”) systems such as PoS chains, L2 rollups, Data Availability (DA) layers, and oracles to acquire staking capital from Bitcoin, the largest decentralized crypto asset in the world.”
Liquid staking comes to Botanix with Rover. Rover is just another example of the ways Bitcoin builders are bringing liquidity to Bitcoin.
Prism launches Boardwalk Cash. It’s a dollar-based Cashu wallet built on Bitcoin and connected to nostr. It’s interoperable with Lightning and allows users to send and receive dollars.
Cashu is an open-source Chaumian Ecash protocol for Bitcoin.
Zest raises $3.5M led by Tim Draper for on-chain Bitcoin lending on Stacks, as reported by Coindesk.
Bitcoin Asia was a hit. Get a look into the conference via BitLayers summary of the event.
BSqaured is live on mainnet (as of mid-April). B² Network is a Layer 2 scaling solution for Bitcoin that aims to enhance transaction speed and enable a broader range of applications while maintaining Bitcoin's security guarantees.
Meta Protocols and L1
Arch network raises $7M. Arch network aims to bring turing-complete programmability and execution to Bitcoin Layer 1. It does not rely on any bridging or L2. Read more about Arch.
Other:
The first state investment board has purchased ~$100M worth of bitcoin via ETF.
More good news on the US legal front: Senate passes resolution to overturn SAB 121
Thanks for reading!
If you have any suggestions of areas we should cover more, projects you’d like us to look into, or you just want to chat about Bitcoin, don’t hesitate to respond to this email or DM us on X.