Core has recently integrated the Davos Protocol, the platform behind inflation-proof DUSD stablecoin, into its ecosystem. With this collaboration, users in the Core Ecosystem can use DUSD for liquid staking and earn yield. Also, users can use ETH and BTC reward-bearing assets (like LSTs and LRTs) as collateral to mint DUSD.
.@Davos_Protocol is now live on Core 🔶
Davos is a unique CDP protocol that lets users use ETH and BTC reward-bearing assets (like LSTs and LRTs) as collateral to mint DUSD. pic.twitter.com/mmkhKZi0RL
— Core Ecosystem (@CoreEcosystem) September 12, 2024
Core is the first Bitcoin-aligned EVM-compatible Layer-1 blockchain, designed to be Bitcoin’s complementary and hyper-scalable smart contract platform. With 55% of Bitcoin mining hash already contributing to its security model and over $313 Million worth of Bitcoin staked through Non-Custodial Bitcoin Staking, Core is unlocking Bitcoin as the prime protector and central asset of the future of DeFi.
More About this Partnership Between Davos & Core Ecosystem
Davos is a protocol offering an inflation-proof stablecoin named DUSD, which integrates liquid staking for yield generation. The platform provides a mechanism for borrowing DUSD using Liquid Staking Tokens (LSTs) as collateral. It features a governance token, DGT, allowing holders to influence the monetary policy of DUSD.
Davos Protocol will give users access to a stable asset to maximize the value of their staked assets, hence advancing their DeFi earning path. The Davos Protocol opens routes for compounded yields by helping DUSD to be staked and farmed, allowing users to increase their financial growth in the DeFi network.
Furthermore, the Davos Protocol offers various collateral options, including Liquid Staking Tokens (LSTs), reward-bearing stablecoins, and Liquid Restaking Tokens (LRTs). This diversity broadens the variety of users’ investing strategies, increasing the potential for yield generation.
Lastly, the dedication to DeFi composability guarantees flawless navigation and optimal return maximization for both companies’ users.