DeFi Technologies, a leading decentralized finance (DeFi) company, has made a significant move in the cryptocurrency market with its subsidiary Valour introducing the first exchange-traded product (ETP) for Core DAO, a Bitcoin scaling solution. This ETP, known as “CORE ETP,” will be available on the Spotlight Stock Exchange, providing investors with a new way to gain exposure to the Core blockchain network. Core DAO is a Bitcoin-powered layer-1 solution that integrates proof-of-work and delegated proof-of-stake consensus mechanisms, offering services such as non-custodial Bitcoin staking and yield-bearing Bitcoin ETP.
This announcement marks a milestone for CoreDAO, as it opens up opportunities for institutions and participants in traditional finance to access the native CORE token. Rich Rines, the founding contributor to CoreDAO, expressed his excitement about the launch of the ETP, calling it a valuable contribution to the project. Founded in 2022, Core aims to provide EMV-compatible services on the Bitcoin blockchain, catering to the growing demand for decentralized financial solutions in the market.
For DeFi Technologies, the launch of the CORE ETP comes shortly after the company faced accusations of stock manipulation and unfounded growth claims by CoinSnacks, a cryptocurrency newsletter. CoinSnacks alleged that DeFi Technologies’ stock gains were driven by influencer pumps, mentions on mainstream media, email campaigns, and endorsements by industry figures like Anthony Pompliano. In response, DeFi Technologies refuted these claims, denouncing the report as containing defamatory and inaccurate statements.
Despite the controversy surrounding its stock performance, DeFi Technologies remains focused on advancing DeFi solutions on the Bitcoin blockchain. The introduction of the CORE ETP signifies the company’s commitment to offering innovative financial products to investors seeking exposure to emerging technologies like Core DAO. With the growing interest in decentralized finance and blockchain-based solutions, DeFi Technologies is poised to capitalize on the demand for innovative investment opportunities in the cryptocurrency market.
As the first ETP for Core DAO, the CORE ETP serves as a bridge between traditional finance and decentralized technologies, providing investors with a regulated and accessible way to participate in the Core blockchain network. With the backing of Valour, a trusted financial firm based in Switzerland, the CORE ETP offers investors a secure and efficient means to gain exposure to the Core DAO ecosystem. By leveraging the benefits of both proof-of-work and delegated proof-of-stake consensus mechanisms, CoreDAO aims to revolutionize the way blockchain transactions are processed and validated.
In conclusion, DeFi Technologies’ launch of the CORE ETP represents a significant milestone in the evolution of decentralized finance on the Bitcoin blockchain. By providing investors with a gateway to the Core DAO ecosystem, the company is paving the way for greater adoption of blockchain-based solutions in traditional finance. With the ongoing development of innovative financial products like the CORE ETP, DeFi Technologies is positioned to lead the charge in shaping the future of decentralized finance and redefining the way we think about traditional investment opportunities.
