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Core DAO

Category: Layer 1

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Overview

Total XP Rewards

120

Estimated Rewards

$50M

Funding

-

Current Stage

Season 1

Total value locked

$840M

Unique Users

-

Chains

chain imagechain imagechain imagechain image

Phase

Mainnet

Structure

Points based

Gas

Yes

Grade

A

Tasks

0/6

TGE

January-2023

Type

Layer 1

Confirmed

Yes

Date

8 months ago

Introduction

  • Core Chain is the first Bitcoin-aligned EVM-compatible Layer-1 blockchain, designed to be Bitcoin's complementary and hyper-scalable smart contract platform.
  • Core Chain is positioning Bitcoin as the foundation of DeFi by integrating over 50% of Bitcoin's mining power and over $313 million worth of Bitcoin into its security model through non-custodial staking.

Tasks

task-link

Visit https://ignition.coredao.org/  

  • Select your country and create a username.
  • Agree to the Privacy Policy and Terms & Conditions.
  • Connect your wallet.
task-link

Visit https://ignition.coredao.org/dashboard?tab=bridge  

  • Bridge at least $100 worth of tokens from the ETH or ARB network to the Core Chain.
task-link

Visit https://ignition.coredao.org/dashboard?tab=explore 

  • Engage with the Core ecosystem to earn Sparks points.
task-link

Visit https://app.corex.network/liquidity/add/0xd93a631d1d975ed46703c021158179e6513bd779 

  • Add liquidity USDC/WETH to receive a 1.2x boost.
task-link

Visit https://ignition.coredao.org/dashboard?tab=team 

  • Share your invite link, you will receive 10% of the daily Sparks from first-degree invitees and 2% of the daily Sparks from second-degree invitees.
task-link

Sparks are points you earn daily, Every on-chain interaction matters: Hold tokens, contribute to liquidity pools, and more will elevate your Sparks account.

Multipliers are dynamic variables that unlock specific opportunities to multiply the Spark reward in the user's account.

  • Asset Multipliers
  • Tier Multipliers
  • Campaign Multipliers (coming soon)

Fundamentals

  • Bitcoin-aligned: Core Chain is designed to unlock Bitcoin's protection by enabling Bitcoin miners to delegate their security to an EVM-compatible smart contract platform.
  • Decentralized: Core Chain’s decentralization is facilitated through the three-part system by which validators are elected under Satoshi Plus consensus.
  • Scalable: Core Chain is highly scalable, capable of eventually a large user base of participants, with high transaction throughput and low latency.
  • Security: Core Chain's security is primarily based on Satoshi Plus Consensus Mechanism, which combines DPoW, DPoS, and non-custodial Bitcoin staking for decentralization.
  • Permissionless: Core Chain’s permission lessness means anyone can participate in and build on Core Chain, without approval or authorization from any gatekeeping entity.
  • Community Governed: Core Chain's governance is a community-driven hybrid model combining immutable elements with adaptable on-chain governance, where CORE token holders and BTC stakers contribute to decision-making.

Potential Rewards

  • Core has a Total Value Locked (TVL) of $163 million and a market cap of $1.2 billion. Given this strong market presence and relatively low user participation compared to other protocols, the airdrop rewards from the Core Ignition Drop campaign could be substantial. This indicates significant potential benefits for early and active participants.
  • The Core Ignition Drop campaign lasts for six months, ending on September 11, 2024.
  • Core Ignition is an incentive program developed by the Core Foundation to jumpstart the growth of the DeFi ecosystem on Core Chain, the first Bitcoin-aligned EVM blockchain.
  • Core Ignition balance is a unique metric that aggregates the value of a subset of assets, either held in the Core Ignition wallet or locked in whitelisted DeFi protocols.
  • Sparks are daily rewards based on wallet assets, multipliers, and referral bonuses within the Core Chain ecosystem.
  • Spark boost reflects the current multiplier applied to the user’s share of the Core Ignition Balance.
  • Core Chain offers three types of Spark multipliers to boost user rewards: asset-based (increasing Sparks based on held assets), tier-based (higher tiers get higher multipliers), and upcoming campaign-based multipliers.

Audit

  • Halborn
  • Least Authority

 

Features

  • Interoperable: Core Chain's EVM compatibility and cross-chain solutions enable seamless interoperability with various blockchain projects.
  • Composable: Core Chain's Solidity support enables composability, allowing developers to create complex, interconnected smart contract systems.
  • Non-Custodial Bitcoin Staking: Allows users to stake Bitcoin without the risk associated with custodial services.
  • Node Participation: Supports multiple node types, including full, validator, RPC, archive, and snapshot nodes.
  • stCORE: Core Chain offers Liquid Staking in the form of stCORE which is designed to enhance the utility of the CORE token and simplify the staking process.

 

Non-Financial Advice

  • Research:  Explore project's documentation, audits, and community.
  • Understand risks:  DeFi has vulnerabilities, market volatility, and token fluctuation.
  • Invest wisely:  Only invest what you can afford to lose.
  • Beware of scams:  Don't trust unsolicited outreach or guaranteed returns.

*ANZALI only provides suggestions and not financial advice. Use all of the information above at your own risk.

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