Core DAO has introduced Dual Staking for Bitcoin holders, providing an opportunity to enhance yields through joint staking of BTC and CORE tokens.
What is Core DAO Dual Staking?
Core DAO offers non-custodial Bitcoin staking, allowing users to delegate BTC on the Core network. This enables Bitcoin holders to earn yield without giving up control of their assets. Dual Staking further boosts returns by staking both BTC and CORE tokens, with higher yields achieved by staking more CORE tokens. This is achieved through the Satoshi Plus consensus, combining Delegated Proof of Work (DPoW) and Delegated Proof of Stake (DPoS), ensuring decentralization and security.
Getting Started with Dual Staking
Before starting to stake, a supported Bitcoin wallet like Xverse, Unisat, or OKX Wallet is necessary. Mobile and hardware wallets are not supported, but the Element mobile app can be used. A Core Wallet address is required for receiving rewards, and minimum staking amounts include 0.01 BTC and 1 CORE token. Staking less than 0.05 BTC for short periods might not be profitable due to fees. Extra funds are needed for gas fees.
Key Considerations for Stakers
Staking addresses might differ from usual Bitcoin addresses for security purposes. Staked Bitcoin is locked until the end of the staking period, with confirmation times dependent on network congestion. Beginners might want to try shorter locking periods. Dual Staking boosts rewards based on predefined CORE staking thresholds, allowing greater earnings from BTC staking.
Core DAO continues to refine the Dual Staking model, affecting network sustainability. Adjustments to staking ratios are under discussion to ensure a fair economic balance. New improvements are anticipated in Season 3 of the Core DAO Ignition program.
