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+ + ## Transaction Structure ### Staking transaction -A BTC staking transaction should have two/three outputs, which are +A Bitcoin staking transaction should have two/three outputs, which are - `P2SH/P2WSH` type output, with time-lock enabled redeem script -- `OP_RETURN` type output, with Core chain staking information +- `OP_RETURN` type output, with Core staking information - (_Optional_) Change address Note that there are **no** restrictions on inputs. +.png) +
### Withdrawal transaction -When the time-lock ends, the locked UTXO can be spent using the redeem script +The locked UTXO (Bitcoins) can be spent using the redeem script when the time-lock ends. +.png) +
## Script Design ### P2SH/P2WSH Output -* Core supports both `P2SH` and `P2WSH` outputs for BTC staking. +* Core supports both `P2SH` and `P2WSH` outputs for Bitcoin staking. * The construction of `P2SH` type output is as follows @@ -53,16 +74,17 @@ The `RedeemScript` should start with a CLTV time lock. Here are a few common ty * When using a public key `.png) +
#### P2WSH output @@ -135,23 +176,11 @@ The full hex of this output is `6a4c505341542b01045bde60b7d0e6b758ca5dd8c61d377a This transaction spent the P2WSH time-lock output from the above staking transaction +.png) +
In the input, the redeem script `041f5e0e66b17576a914c4b8ae927ff2b9ce218e20bf06d425d6b68424fd88ac` is provided to spend it. Since the time lock `1f5e0e66` (660e5e1f after reverting bytes, which is 1712217631 unix timestamp) has already expired, the UTXO was spent successfully. > **Note** - > Code samples of constructing the staking and withdrawal transactions on Bitcoin network will be provided soon. - -## Role of Relayers - -In a strict sense, the Non-Custodial BTC Staking process consists of two steps - -1. Stake on the Bitcoin network -2. Submit the confirmed BTC staking transaction to the Core chain - -To make the entire process more convenient, Core Chain introduces the role of relayers. Relayers can help users submit transactions to the Core network after the staking transaction is confirmed on the Bitcoin network. Since it is necessary to verify the transaction on the Core network with the embedded Bitcoin light client, relayers needs to obtain the corresponding `RedeemScript` of the `P2SH/P2WSH` output. To meet this requirement, we suggest users to either - -- Put the entire `RedeemScript` at the end of the `OP_RETURN` output, if the script is short. e.g. a `RedeemScript` constructed using public key hash as shown in the sample above. -- Set the receiving address of the staking transaction as their own so relayers can extract useful information from the transaction input and compose the `RedeemScript` by themselves. E.g. - - If it's a normal address, the `pubkey` or `pubkey hash` should be set as the input's corresponding public key when constructing the `RedeemScript`. - - If it is a multi-signature address, the corresponding multi-signature address's public key should be set when constructing the `RedeemScript`. \ No newline at end of file + > Code samples of constructing the staking and withdrawal transactions on Bitcoin network will be provided soon. \ No newline at end of file diff --git a/docs/Learn/products/btc-staking/dual-staking-guide.md b/docs/Learn/products/btc-staking/dual-staking-guide.md new file mode 100644 index 0000000000..63bf8f1969 --- /dev/null +++ b/docs/Learn/products/btc-staking/dual-staking-guide.md @@ -0,0 +1,186 @@ +--- +sidebar_label: Dual Staking Guide +hide_table_of_contents: false +sidebar_position: 2 +--- + +# Dual Staking on Core + +This user guide is designed to walk you through the Dual Staking process on Core. Coreâs Non-Custodial Bitcoin Staking allows users to earn yield in CORE by staking their Bitcoins and delegating them to validators on Core. Dual Staking unlocks higher yield tiers by staking Bitcoin and CORE to enhance yield generation from Non-Custodial Bitcoin staking further. Let's dive into how it works and how you can start staking today. + +## Prerequisites + +To be able to stake, you must have the following prerequisites: + +1. **Supported Bitcoin Wallet Browser Extension:** To participate in the BTC staking process, you must install browser extensions of any supported Bitcoin wallets, like [Xverse](https://chromewebstore.google.com/detail/xverse-wallet/idnnbdplmphpflfnlkomgpfbpcgelopg?hl=en-GB&authuser=1), [Unisat](https://chromewebstore.google.com/detail/unisat-wallet/ppbibelpcjmhbdihakflkdcoccbgbkpo), and/or [OKX Wallet](https://chromewebstore.google.com/detail/okx-wallet/mcohilncbfahbmgdjkbpemcciiolgcge) (visit stake.coredao.org for the latest supported wallets). You must use a desktop version, as mobile and hardware wallets are not currently supported. You can also stake directly using the Element wallet mobile application as well. +2. **Core Wallet Address for Rewards:** Prepare your Core wallet address to stake CORE and receive [CORE token rewards for staking Bitcoin](https://docs.coredao.org/docs/Learn/products/btc-staking/stake-btc-guide#prerequisites) and CORE. If you do not have a Core wallet address, you can quickly create one by connecting to MetaMask. For more information on configuring MetaMask to work with the Core network, follow the detailed guide [here](https://docs.coredao.org/docs/Dev-Guide/core-mainnet-wallet-config). + +## Key Considerations For Dual Staking + +The following are some key points that users should be careful about when staking their Bitcoin on Core. + +1. **Minimum of 0.01 Bitcoin \+ Gas Fee:** To successfully stake your Bitcoin on Core, you need a minimum of 0.01 Bitcoin. In addition to the staking amount, users should consider the necessary gas fees in Bitcoin for executing transactions on the Bitcoin network. If you plan to stake for less than a month, having at least 0.05 Bitcoin is advisable. This extra amount helps cover potential network congestion, which can lead to higher gas prices than the rewards earned from staking. + +2. **Minimum of 1 CORE \+ Gas Fee:** To stake, you must have at least 1 CORE. In addition to the staking amount, users should also account for the gas fees in CORE tokens for transaction processing. +3. **Understanding the Differences in Bitcoin Staking Addresses:** + * The staking address in your Bitcoin wallet's transaction prompt may differ from your original Bitcoin address. This is because the Bitcoin staking address is derived from your Bitcoin wallet's master private key, ensuring control and security over your assets. Your Bitcoin remains safe in the Bitcoin staking address, unaffected by staking. +4. **Delays in Locked Assets to Appear in your Bitcoin Wallet:** + * You may face some delays before your locked Bitcoin is displayed in your Bitcoin wallets. This delay primarily results from delays in transaction confirmation on the Bitcoin network, which can take several hours due to block time, the number of block confirmations required, and network congestion. + * While we are actively working with wallet partners to support the timely display of your assets in your wallets, you can check your locked assets on the **MyStaking** page on Coreâs staking website. + * You can also view your staked funds by searching the staking address on a Bitcoin explorer, [Mempool.space](https://mempool.space/). +5. **Considerations for Locking Periods** + * Once you lock your Bitcoin for staking, it's inaccessible until the staking period concludes. Considering your investment objectives and risk tolerance, you are advised to select your locking period thoughtfully. Starting with shorter locking periods can help you become familiar with the process before committing to longer durations. + +## Step-By-Step Walkthrough of Dual Staking + +Coreâs Non-Custodial Bitcoin staking introduces a secure and decentralized method for Bitcoin holders to earn yield through Bitcoin staking. Users can stake their Bitcoin natively on the Bitcoin network through a time-bound mechanism and actively participate in the Core blockchain's Consensus mechanism while staking. + +Dual staking is an enhancement to Coreâs Non-custodial BTC staking, allowing users to unlock higher yield tiers by staking Bitcoin and CORE simultaneously. Higher CORE:BTC staking ratios unlock higher yield tiers for Bitcoins staking. To take advantage of Dual Staking and earn higher reward rates for BTC staking, follow the steps detailed below. + +### Connecting Bitcoin and Core Wallets + +1. Visit [https://stake.coredao.org](https://stake.coredao.org/) and click **Stake Now** on the top right of the header. +2. Once on the **Staking** tab, click the **Connect** option next to âBTC Staking Amountâ to connect your Bitcoin wallet. This should be the wallet with the Bitcoin assets you want to stake. Click on the supported wallet of your choice to connect your Bitcoin wallet. + ++ +
+ +3. Likewise, click the **Connect** option next to **CORE Staking Amount** and select the Core wallet to stake CORE and receive staking rewards. + ++ +
+ +## Specifying the BTC Amount to Stake + +4. Enter the amount of Bitcoin you want to stake. The minimum amount is 0.01 BTC. + ++ +
+ +### Selecting a Core Validator for Bitcoin Delegation + +5. Under **Delegate to Validator**, from the drop-down menu, select an ***active validator*** to whom you want to delegate your Bitcoin. + ++ +
+ +### Specifying the CORE Amount to Stake + +6. Enter the amount of CORE you want to stake. The minimum amount is 1 CORE. + ++ +
+ +### Selecting a Core Validator for CORE Delegation + +7. After specifying the amount of CORE to stake, choose the validator to whom you will delegate your CORE. Make sure to select an active validator from the drop-down. + ++ +
+ +### Adjusting CORE:BTC Ratios for Higher Yields + +8. On the right side of the Staking Calculator, there is a **Summary** tab that calculates the Total Staking Reward Rate and Projected Annual Rewards. These are estimated annual return numbers for staked Bitcoin and CORE. The reward rate may fluctuate daily based on the total and weighted amounts of delegations that validators receive. When set to the **Current** button, it displays only the real-time estimated staking reward rate. When set to the **Overall** button, it represents the average of two components: the rates from all validators based on previous staking records and the real-time estimated staking reward rate. + ++ +
+ +9. You can also use the sliders in the below section to see the effect of CORE:BTC staking ratio on your Total Staking Reward Rate. + ++ +
+ +10. To get the maximum reward boost on your staked amount, under the Dual Staking Tiers section, adjust the **BTC Staked** slider to the amount of BTC you want to stake and click the **Max Boost** button. This will automatically set the corresponding CORE amount in the âCORE Stakedâ slider to unlock maximum boost. You can also manually adjust the CORE staked and then click the âMax Boostâ button again to update the recommended BTC amount in the âBTC Stakedâ bar. + ++ +
+ +11\. Next to the **Summary** tab, you can find **Details** page, which shows staking details, including: + +* **New Staked BTC:** The amount of BTC you plan to stake and the current reward rate. +* **New Staked CORE:** The amount of CORE you plan to stake and the current reward rate. +* **Active Staked BTC:** The amount of BTC currently staked and average earning reward rate across validators. +* **Active Staked CORE:** The amount of CORE currently staked and average earning reward rate across validators. + ++ +
+ + +### Finalizing Dual Staking Transactions + +11. Once you have specified the amount of BTC/CORE to stake and the validators for delegation respectively, you can click on the **Proceed to Stake** button. + ++ +
+ +12. On the Stake CORE page, confirm the amount of CORE to stake along with BTC, and click the **Confirm** button. + ++ +
+ +13. By clicking **Confirm**, you will get a notification from your connected Core wallet to complete the transaction. +14. Once you confirm the transition, you will receive a **Transaction Submitted** notification on the top right of your screen. You could click **My Staking** to see your staking records or **View on CoreScan** to review this transaction. + + ++ +
+ +15. On the âStake BTCâ page, confirm the amount of Bitcoin to stake. Before finalizing the Bitcoin staking process, it's important to understand and specify several key parameters: +* Specifying the amount of Bitcoin youâd like to delegate + * The minimum amount to delegate is 0.01 Bitcoin + * In our example, we will be delegating 0.05 Bitcoin, which satisfies this requirement +* Setting the lock time determines when your staked Bitcoin will be unlocked and available again for redemption or re-delegation. + * Select inside the lock time box to input values, or click on the calendar icon to select the date and click âOKâ to proceed. + * The default lock time is set to a month in advance. +* Specify the network priority speed for your transaction + ++ +
+ +16. Finally, click âConfirmâ to complete the transaction. + +**Confirm OP\_Return Output** + +17. Before Signing the transaction in your wallet, verify the transaction outputs to ensure they include an `OP_Return` output. The `OP_Return` output is where your `redeem_script` is saved and is essentially used to redeem your staked Bitcoin. There may be two or three outputs, but at least one should always be **OP_Return**. Abort the transaction if it doesn't include the OP\_Return output. + ++ +
+ + +18. Once you confirm the transition, you will receive a **Transaction Submitted** notification on the top right of your screen. You could click on **My Staking** to see your staking records or **View on BTC Explorer** to review this transaction. + ++ +
+ +**Verify Transaction Submission and Staking Records** + +19. In the top right corner of the staking website, hover over your connected wallet and click **My Staking**. + ++ +
+ + +20. The **My Staking** page displays records of all your staking activities (CORE, BTC, hash). Click on the respective CORE, BTC, and Hash tabs to view details on your staking and delegations. + ++ +
+ +**Congratulations**\! You have successfully staked your Bitcoin and CORE on the Core blockchain and will now actively earn CORE tokens as rewards. By staking Bitcoin and voting for validators, you actively contribute to the governance and security of the Core network, supporting its decentralization and stability. In addition, through Dual Staking, you help strengthen the connection between the Bitcoin and Core blockchain, aligning incentives and creating value across both ecosystems. \ No newline at end of file diff --git a/docs/Learn/products/btc-staking/faqs-btc-staking.md b/docs/Learn/products/btc-staking/faqs-btc-staking.md index 2db40c1dd0..78cbe81cc2 100644 --- a/docs/Learn/products/btc-staking/faqs-btc-staking.md +++ b/docs/Learn/products/btc-staking/faqs-btc-staking.md @@ -12,7 +12,7 @@ The staking address is derived from your wallet's master private key, ensuring y You can view your staked funds by searching the staking address on the any BTC explorer like (Mempool)[https://mempool.space/]. We're actively working to make staked assets visible in all supported wallets especially through command line versions. -### Does Core Chain provide any hardware wallet support for Non-Custodial BTC Staking? +### Does Core provide any hardware wallet support for Non-Custodial BTC Staking? At present, Non-Custodial BTC Staking does not support hardware wallets due to technical constraints. Nevertheless, we're constantly exploring ways to enhance compatibility with various wallet types, prioritizing both security and convenience for our users. diff --git a/docs/Learn/products/btc-staking/overview.md b/docs/Learn/products/btc-staking/overview.md index 8b08044a59..6084fba758 100644 --- a/docs/Learn/products/btc-staking/overview.md +++ b/docs/Learn/products/btc-staking/overview.md @@ -3,82 +3,93 @@ sidebar_label: Overview hide_table_of_contents: false sidebar_position: 2 --- +# Non-Custodial Bitcoin Staking +Over [1.5 trillion dollars'](https://www.coingecko.com/en/coins/bitcoin) worth of Bitcoin has remained idle, yielding no native yield for over its lifetime. Since Bitcoin is a Proof-of-Work blockchain, its holders do not get the yield benefits native to Proof-of-Stake chains. Nevertheless, Core has delivered Proof-of-Stake benefits to the definitive Proof-of-Work blockchain. **Non-Custodial Bitcoin Staking** substantially enhances Coreâs security model while unlocking Bitcoin-native yield for the first time. This innovative approach allows Bitcoin holders to participate in and earn from Satoshi Plus without giving up custody of their Bitcoin, thereby integrating Bitcoin's economic power with Core's advanced blockchain functionalities. -# Non-Custodial BTC Staking - Unlocking Bitcoin DeFi ---- +## **Overview** + +Coreâs Non-Custodial Bitcoin Staking allows Bitcoin holders to earn CORE tokens without giving up control of their private keys or transferring their Bitcoin to a third party, external smart contract, or multi-party computation (MPC) wallet. Non-Custodial Bitcoin Staking lets Bitcoin holders securely lock their Bitcoin natively on the Bitcoin network. At the same time, the stakers can actively contribute to the validator election on the Core network, strengthening its security and decentralization through the Satoshi Plus consensus mechanism. This approach ensures that Bitcoin remains under the userâs control while enabling them to support network security and earn rewards. -Over [1 trillion dollars'](https://www.coingecko.com/en/coins/bitcoin) worth of BTC has remained idle, yielding no returns for over 10 years. Bitcoin network inherently is not Turing-complete, due to this, to have utility outside the Bitcoin network, the bitcoins have to be wrapped, bridged, or sent to a third-party custody. None of them is secure: they all need trust on a third-party. This is why most of the bitcoins are idle. Securely utilizing them to protect the decentralized economy seems a mission impossible. Previous attempts by other projects to leverage this liquidity have met with limited success. However, with technical advancements on Bitcoin's side and through the innovative and robust ecosystem, Core Chain presents a promising opportunity to unlock the dormant potential of Bitcoin liquidity. +## **Rationale Behind Coreâs Non-Custodial Bitcoin Staking** -One of the most outstanding features of Core Chain that distinguishes it from other competitors is that of **`Non-Custodial BTC Staking`**. Core Chain welcomes BTC holders to stake their BTC on the Bitcoin network. With the introduction of non-custodial bitcoin staking, Core Chain's recent protocol updates incorporate Bitcoin holders as the third part of the Satoshi Plus consensus mechanism. +Core blockchain offers Non-Custodial Bitcoin Staking as a strategic move to enhance its decentralization and security. By incorporating Bitcoin, which has a robust and well-established network, into its consensus mechanism, Core can leverage Bitcoin's decentralization and security features. Through the Non-Custodial Bitcoin Staking, Core leverages Bitcoin security and provides the first-ever non-custodial Bitcoin native yield generation opportunities to the Bitcoin community. Participating in Non-Custodial Bitcoin Staking offers an additional incentive: earning CORE tokens. This is a way for Bitcoin holders to retain complete custody of their Bitcoin assets without transferring them elsewhere and receive additional rewards in CORE tokens. -## Empowering Bitcoin Holders and Strengthening Core -#### _The Dual Benefits of Non-Custodial BTC Staking_ +## **Advantages of Non-Custodial Bitcoin Staking** -1. **Benefits for BTC Holders from Non-Custodial BTC Staking** - - **Maintaining Assets on Bitcoin:** By Non-Custodial BTC Staking, Bitcoin holders have the unique opportunity to keep their assets securely on the Bitcoin network. This is significant because it allows them to retain their investment in what is widely regarded as the most decentralized and secure blockchain, often referred to as digital gold. In essence, they can continue to hold their Bitcoin, enjoying the security and reputation it offers, without needing to transfer their assets elsewhere. - - **Earning Core Tokens as Rewards:** Participating in Non-Custodial BTC Staking offers an additional incentive: earning Core tokens. This is a way for Bitcoin holders to not only retain their Bitcoin assets but also to receive additional rewards in the form of Core tokens. - - **Social Responsibility in Decentralization:** By staking their BTC, holders contribute to the decentralization of the Core blockchain. This is a form of social responsibility, as their participation helps in maintaining a diverse and distributed network, which is fundamental to the ethos of blockchain technology. -2. **Core's Rationale Behind Offering Non-Custodial BTC Staking** - - **Enhancing Decentralization and Security:** Core blockchain is offeringNon-Custodial BTC Staking as a strategic move to enhance its decentralization and security. By incorporating Bitcoin, which has a robust and well-established network, into its consensus mechanism, Core can leverage the decentralization and security features of Bitcoin. +1. **No risk to principal BTC:** Users can stake their bitcoins without involving any new trust assumptions, slashing, or protocol risks. Their principal BTC remains under their custody and on the Bitcoin blockchain, leveraging the high security and trust already provided by Bitcoin's robust infrastructure. +2. **Self-custody and 100% secure:** Users only need to send themselves the staking transaction on the Bitcoin network, and the Bitcoin assets _DO NOT_ need to leave the Bitcoin network. +3. **The Bitcoin Risk-Free Rate:** By introducing zero new trust assumptions, Coreâs Bitcoin staking unlocks riskless yield for Bitcoin holders. +4. **Bitcoin-Nativity:** Using Bitcoinâs native absolute time locks, Bitcoin stakers retain full custody of their Bitcoin. +5. **Sustainable Yield:** This mechanism transforms Bitcoin into a yield-bearing asset, whereby stakers can earn a portion of Coreâs fixed emissions and gas fees in CORE tokens for securing the Core network. +6. **Network Integration:** Non-Custodial Bitcoin Staking integrates Bitcoin holders into Coreâs consensus mechanism, contributing to the networkâs security and decentralization. -## Advantages of Non-Custodial BTC Staking +## **How Non-Custodial Bitcoin Staking Works** {#how-non-custodial-bitcoin-staking-works} -1. It is designed specifically for the kind of long-term holders and institutions who have shown a clear preference for keeping their assets on the Bitcoin blockchain. Recognizing that such entities are accustomed to holding their bitcoin without frequent transactions, native bitcoin staking offers them the opportunity to earn rewards during a specified holding period. -2. No new trust assumptions are added. Users can stake their bitcoins without moving it off the Bitcoin blockchain, thereby maintaining the high security and trust that comes with Bitcoin's robust infrastructure. -3. It provides an opportunity for the bitcoin holders to earn passive CORE token rewards in exchange for contributing to Core Chain's consensus. -4. Self custody and 100% secure. Users only need to send themselves the staking transaction on the Bitcoin network and the BTC assets DO NOT need to leave the Bitcoin network at all. -5. The function is implemented using native cryptographic features of the Bitcoin network, and it is fully battle tested and safer than all other non Bitcoin native solutions. -6. Users can build the transaction in any way and with any tool they prefer, it is highly not possible to encounter supply chain attacks from untrusted/unverified third party libraries. +Non-custodial Bitcoin Staking is one of the three fundamentals of Coreâs Satoshi Plus consensus mechanism. Through this feature, Core incorporates Bitcoin holders into its ecosystem for security and to enable them to turn Bitcoin into a yield-generating asset. +Core's methodology for integrating Bitcoin staking centers on [CLTV timelock](https://en.bitcoin.it/wiki/Timelock#CheckLockTimeVerify). CLTV timelock is a Bitcoin-native cryptographic feature that specifies a condition under which the transaction output cannot be spent until a specific point in time has passed. This time can be defined as a specific date and time or by block height. -## Why Opt Core Chain's Non-Custodial BTC Staking +Imagine CLTV as a **time-locked vault**: when you "lock" your Bitcoin, itâs securely held and inaccessible until the designated time elapses, at which point the Bitcoin is returned to you. This feature enables Coreâs staking mechanism to work without requiring users to relinquish control of their Bitcoin. Instead, Bitcoin holders can support Coreâs network and earn rewards while retaining custody of their assets. -There are a few aspects of Core Chain's implementation of staking that set it apart. +Rather than holders giving up custody of their Bitcoins to third parties or external smart contracts, Bitcoin stakers need to initiate a qualified CLTV transaction on the Bitcoin network, and the transaction can be designed to return the output after a fixed time period has elapsed. CLTV is a Bitcoin-native feature, and users can use it to lock any amount of their assets at/for any time. However, specific prerequisites should be met to ensure that transactions are valid and to be picked as a delegation for validators on the Core network. Within the CLTV transaction, stakers must include a script containing the following information: -1. There is no need to transfer your assets. Unlike other DeFi protocols that require transferring bitcoin to a different blockchain or wrapping it, Core Chain's staking allows users to stake directly within the Bitcoin ecosystem. -2. Core Chain's bitcoin staking maintains the basic blockchain ethos by allowing bitcoin holders to contribute to the expansion of Core Chain's overall security budget. -3. There are options to stake through the command line or a web interface, and there's a simple claim process for rewards. -4. The product is designed for ease of use, catering to both tech-savvy users and those preferring a more straightforward approach. -5. The reward system helps align cross-chain incentives. The reward pool comes from a shared consensus reward system that integrates the contributions of both Bitcoin miners and CORE token stakers, thereby optimizing the reward distribution for all participants. Additionally, the rewards are sustainable over the long-term, and will be distributed over a period of 81 years. +1. The address of the Core Validator the staker wants to delegate their Bitcoin to. +2. The address to which the staker would like their CORE token rewards to be sent. +The **Relayers** are a key component of the Core ecosystem that monitors the Bitcoin network for Bitcoin staking and unstaking transactions. Once the valid CLTV transactions containing information for Bitcoin delegation to validators on Core are sent over the Bitcoin network, the Relayers pick up these transactions and forward them to the Core consensus engine. -## How Non-Custodial BTC Staking Works +It is essential to be clear that Coreâs non-custodial Bitcoin staking mechanism introduces no protocol or principal risks to the userâs delegated Bitcoin. Users transact on the Bitcoin network to delegate their assets to Core validators via Bitcoinâs CLTV; their assets remain on the Bitcoin network under their control. The assets are not moved off-chain or to any third-party or smart contracts. On the other side, relayers from the Core network are responsible for monitoring the Bitcoin network, picking up Bitcoin staking transactions, verifying them, and forwarding the valid transactions to the Core consensus mechanism, which is responsible for rewarding the stakers accordingly. -With the non-custodial bitcoin staking, Core Chain's protocol incorporate bitcoin holders as the third part of Satoshi Plus consensus. Core Chain's methodology for integrating bitcoin staking centers on [CLTV timelock](https://en.bitcoin.it/wiki/Timelock#CheckLockTimeVerify). CLTV timelock are Bitcoin-native cryptographic feature that specify a condition under which the transaction output cannot be spent until a certain point in time has passed. This time can be defined in terms of a specific date and time or by block height. Rather than holders giving up custody of their bitcoins to external staking, stakers on Core Chain merely need to place their bitcoins in CLTV timelocks as part of a transaction, and the transaction can be designed to return the output after the time period has elapsed. Within that transaction, stakers must include a script containing the same information that Bitcoin miners include in their delegated blocks: +Bitcoin stakers earn yield as staking rewards in the form of CORE tokens on their otherwise passive Bitcoin for however long they set the time lock (i.e., delegate their Bitcoin to validators on the Core network). Coreâs Non-Custodial Bitcoin Staking results in billions of dollars in underutilized Bitcoin value becoming productive, remunerating stakers while expanding the scope of Bitcoin's utility. -1. The address of the Core Validator the staker wants to delegate their bitcoin to. -2. The address that the staker would like their CORE token rewards to be sent to. +### **Requirements for Bitcoin Staking** -Bitcoin stakers earn a yield on their otherwise passive bitcoin in the form of CORE token rewards, for however long they set the time-lock (and thus for however long they delegate their bitcoin to vote for Validators on Core Chain). The end result is that billions of dollars in underutilized Bitcoin value will become productive, remunerating stakers while also expanding the scope of Bitcoin's utility. +* For a Bitcoin staking transaction to be considered valid and picked up by the Relayers, users must ensure that the transaction is sent to their address and, using the Bitcoin native timelock feature, specify the lock-up amount intended to be delegated to the validator on the Core blockchain, as the transaction output. +* The transaction should also contain an `op_return` output specifying + * The address of the Core Validator the staker wants to delegate their Bitcoin to. + * The address to which the staker would like their CORE token rewards to be sent. +* **Minimum requirements exist** for the **amount** of BTC to be staked. Users should stake at least **0.01 Bitcoin** (less transaction fees). -### Guidelines for Staking/Redeeming BTC +### **Transaction Workflow** -When staking or redeeming your BTC, please follow these guidelines to ensure smooth transactions: -1. **Avoid Low Gas Fees:** - * We recommend avoiding gas fees lower than the current market rate. - * Using a gas fee that is too low, especially during periods of network congestion, may result in your Bitcoin transaction taking an extended amount of time (potentially days) to be confirmed. -2. **Handling Low Gas Fee Situations:** - * If your Bitcoin transaction is delayed due to a low gas fee, consider using a transaction accelerator to speed up the process. - * There are several third-party services available; for example, the free viaBTC transaction accelerator (which can be accessed [here](https://www.viabtc.com/tools/txaccelerator)). - * Please research and choose a service that best fits your needs. +Core's implementation of Bitcoin staking is completely native and non-custodial, i.e., users can keep their Bitcoin assets on the Bitcoin network without bridging them out before staking. -By following these recommendations, you can ensure a more efficient staking and redemption process for your BTC. + -### Requirements for Eligibility +Note that Non-Custodial BTC Staking operations are conducted on two separate blockchainsâBitcoin and Core. The following table identifies what happens in each blockchain for Bitcoin holders to earn staking rewards successfully through non-custodial Bitcoin staking. It's important to note that Core's Non-Custodial Bitcoin Staking does not introduce any additional risks or trust assumptions. Beyond monitoring and verifying Bitcoin staking transactions and accrual and claiming rewards, all operationsâincluding asset locking, redemption, and asset managementâremain securely on the Bitcoin network. -Core Chain welcomes BTC holders to stake their BTC on the Bitcoin network. By voting for a Core validator during your BTC staking transaction, you play a pivotal role in Core's decentralization, earning CORE tokens as recurring rewards. +| Step\# | Bitcoin Network | Core Network | +| :---- | :---- | :---- | +| Step\#1 | User craft a CLTV Timelock transaction with a timelock period of their choice and OP\_RETURN containing Core Validator Address the user wants to delegate their Bitcoin to. CORE reward address for receiving the staking rewards in the form of CORE. For details on how to compose such a staking transaction, please refer to the [transaction design](https://docs.coredao.org/docs/Learn/products/btc-staking/design). | Relayers monitor the Bitcoin network for valid CLTV transactions for non-custodial Bitcoin staking. | +| Step\#2 | The user sends the crafted transaction to themselves on the Bitcoin network. | | +| Step\#3 | The Bitcoins are locked on the Bitcoin network for the specified time period. Once the transaction is confirmed on the Bitcoin network, which can take several hours due to block time, number of block confirmations required, and network congestion, the locked assets will appear in the staking records. (*Optional*) After the transaction is confirmed on the Bitcoin network, users can retrieve the transaction data and submit it to the Core blockchain. This step is optional if users compose the transaction in a standard format, as suggested by Core. Relayers from the Core infrastructure will detect the staking transaction and submit it to the Core blockchain for users. | | +| Step\#4 | | Relayers pickup the valid transactions and forward them to the Core Consensus Engine | +| Step\#5 | | The rewards for BTC staking are accrued, and users have to claim them manually. | +| Step\#6 | Once the time lock expires, users **must** send out a Redeem script to retrieve their locked Bitcoin assets. Users can also choose to delegate directly again rather than redeem and then delegate. | | -* There are _minimal requirements_ on both **amount** and **duration** to make the staking eligible on Core Chain. - * A user should at least stake **0.01 BTC** (less transaction fees) for at least **10 days**. +## **Step-by-Step Process** -### Transaction Work Flow +1. **Locking Bitcoin:** Bitcoin holders initiate the staking process by locking their Bitcoin in an absolute time lock on the Bitcoin blockchain. +2. **Including Delegation Information:** Within the locking transaction, stakers include: + 1. **Core Validator Address:** The address of the Core Validator to which to delegate their Bitcoin. + 2. **CORE Token Reward Address:** The address where they want their CORE token rewards sent. +3. **Delegating Bitcoin:** This action delegates the stakerâs Bitcoin to the chosen Core validator for a specified period, during which the Bitcoin cannot be spent. +4. **Validator Election:** Core uses the delegated Bitcoin to determine the hybrid score for the validator election. Validators with higher delegated Bitcoin have a better chance of being elected to the validator set. +5. **Earning Rewards:** Bitcoin stakers earn CORE token rewards for the lock period based on the validator's performance and the amount of Bitcoin staked. +6. **Unlocking Bitcoin:** After the timelock expires, the staked Bitcoin remains in the stakerâs address but stays locked. To regain access and be able to spend their BTC, the staker must redeem it explicitly after the timelock period ends. - +### **Guidelines for Staking/Redeeming Bitcoin** -Core Chain's implementation of BTC native staking is completely non-custodial, i.e., users can keep their BTC assets on the Bitcoin network without bridging them out before staking. Users are required to perform only the following steps: +Please follow these guidelines to ensure smooth transactions when staking or redeeming your Bitcoin. Following these recommendations can ensure a more efficient staking and redemption process for your Bitcoin. -* Send a BTC transaction to their own address, and lock up the output whose amount is intended to stake on Core blockchain by using the Bitcoin native timelock feature. Besides, the transaction should also contain an `op_return` output in which users can designate the Core validator address to stake to and a `reward address` to receive CORE rewards. For details to compose such a staking transaction, please refer to the [transaction design](design.md). +1. **Avoid Low Gas Fees:** + * We recommend avoiding gas fees that are lower than the current market rate. + * Using a gas fee that is too low, especially during periods of network congestion, may result in your Bitcoin transaction taking an extended amount of time (potentially days) to be confirmed. +2. **Handling Low Gas Fee Situations:** + * If your Bitcoin transaction is delayed due to a low gas fee, consider using a transaction accelerator to speed up the process. + * Several third-party services are available, such as the free viaBTC transaction accelerator (accessible [here](https://www.viabtc.com/tools/txaccelerator)). + * Please research and choose a service that best fits your needs. -* (_Optional_) After the transaction is confirmed on the Bitcoin network, users can retrieve the transaction data and submit to the Core blockchain. This step is optional, if users compose the transaction in a standard format as suggested by Core Chain (defined in the [transaction design](design.md)). The Core infrastructure will detect the staking transaction and submit it to Core blockchain for users. +## **Conclusion** -* When the timelock expires, users can spend the UTXO using the corresponding redeem script. It is easy for them to build the redeem script from the original staking transaction. +Non-Custodial Bitcoin Staking transforms the Bitcoin asset from a passive Store of Value into an active, yield-bearing, and security-providing asset. Bitcoin staking allows Bitcoin holders to earn the Bitcoin Risk-Free Rate while contributing to the security of a smart contract platform designed to unlock more Bitcoin asset use cases. \ No newline at end of file diff --git a/docs/Learn/products/btc-staking/stake-btc-guide.md b/docs/Learn/products/btc-staking/stake-btc-guide.md index 548a4308a3..b100cad3b4 100644 --- a/docs/Learn/products/btc-staking/stake-btc-guide.md +++ b/docs/Learn/products/btc-staking/stake-btc-guide.md @@ -1,168 +1,133 @@ --- -sidebar_label: Staking BTC on Core +sidebar_label: Staking Bitcoin on Core hide_table_of_contents: false sidebar_position: 2 --- -# Non-Custodial BTC Staking +# Non-Custodial Bitcoin Staking -This technical guide is designed to walk you through the process of staking your Bitcoin (BTC) on the Core blockchain to earn CORE token rewards. With Non-Custodial BTC Staking, you can earn passive yield in CORE while retaining ownership of your Bitcoin assets. Let's dive into how it works and how you can start staking today. +This user guide is designed to walk you through staking your Bitcoin on the Core blockchain to earn CORE token rewards. With Non-Custodial Bitcoin Staking, you can earn passive yield in CORE while retaining complete ownership of your Bitcoin assets. Let's dive into how it works and how you can start staking today. ## Prerequisites -The following must be satisfied prior in order to complete this guide: +To be able to stake, you must have the following prerequisites: -1. **Xverse and/or Unisat Wallet(s):** You will need to add to either [Xverse](https://chromewebstore.google.com/detail/xverse-wallet/idnnbdplmphpflfnlkomgpfbpcgelopg?hl=en-GB\&authuser=1) and/or [Unisat](https://chromewebstore.google.com/detail/unisat-wallet/ppbibelpcjmhbdihakflkdcoccbgbkpo) wallet(s) via Chrome browser extension, to participate in the staking process. (_Must use a desktop, mobile and hardware wallets are not supported at this time_) +1. **Supported Bitcoin Wallet Browser Extension:** To participate in the BTC staking process, you must install browser extensions of any supported Bitcoin wallets, like [Xverse](https://chromewebstore.google.com/detail/xverse-wallet/idnnbdplmphpflfnlkomgpfbpcgelopg?hl=en-GB&authuser=1), [Unisat](https://chromewebstore.google.com/detail/unisat-wallet/ppbibelpcjmhbdihakflkdcoccbgbkpo), and/or [OKX Wallet](https://chromewebstore.google.com/detail/okx-wallet/mcohilncbfahbmgdjkbpemcciiolgcge) (visit stake.coredao.org for the latest supported wallets). You must use a desktop version, as mobile and hardware wallets are not currently supported. You can also stake directly using the [Element Wallet](https://www.elementwallet.com/) mobile application as well. +2. **Core Wallet Address for Rewards:** Prepare your Core wallet address to receive CORE token rewards for staking Bitcoin. If you do not have a Core wallet address, you can quickly create one by connecting to MetaMask. For more information on configuring MetaMask to work with the Core network, follow the detailed guide [here](https://docs.coredao.org/docs/Dev-Guide/core-mainnet-wallet-config). -2. **Core Wallet Address for Rewards:** Prepare your Core wallet address where you will receive Core token rewards for staking your BTC. If you do not have a Core wallet address, you can create one easily by connecting to MetaMask. +## **Key Considerations For BTC Staking** -**1. Adding the Core network to MetaMask via the Core Explorer:** +The following are some key points that users should be careful about when staking their Bitcoin on Core. -* Go to [coredao.org](http://coredao.org) and scroll all the way down on the page +1. **Minimum of 0.01 Bitcoin \+ Gas Fee:** To successfully stake your Bitcoin on Core, you need a minimum of 0.01 Bitcoin. In addition to the staking amount, users should consider the necessary gas fees in Bitcoin for executing transactions on the Bitcoin network. If you plan to stake for less than a month, having at least 0.05 Bitcoin is advisable. This extra amount helps cover potential network congestion, which can lead to higher gas prices than the rewards earned from staking. +2. **Understanding the Differences in Bitcoin Staking Addresses:** + * The staking address in your Bitcoin wallet's transaction prompt may differ from your original Bitcoin address. This is because the Bitcoin staking address is derived from your Bitcoin wallet's master private key, ensuring control and security over your assets. Your Bitcoin remains safe in the Bitcoin staking address, unaffected by staking. +3. **Delays in Locked Assets to Appear in your Bitcoin Wallet:** + * You may face some delays before your locked Bitcoin is displayed in your Bitcoin wallets. This delay primarily results from delays in transaction confirmation on the Bitcoin network, which can take several hours due to block time, the number of block confirmations required, and network congestion. + * While we are actively working with wallet partners to support the timely display of your assets in your wallets, you can check your locked assets on the âMyStakingâ page on Coreâs staking website. + * You can also view your staked funds by searching the staking address on a Bitcoin explorer, [Mempool.space](https://mempool.space/). +4. **Considerations for Locking Periods** + * Once you lock your Bitcoin for staking, it's inaccessible until the staking period concludes. Considering your investment objectives and risk tolerance, you are advised to select your locking period thoughtfully. Starting with shorter locking periods can help you become familiar with the process before committing to longer durations. - +## Workflow of Non-Custodial BTC Staking -* Click the âAdd Core Networkâ button -* Approve in your MetaMask +Non-custodial Bitcoin staking introduces a secure and decentralized method for Bitcoin holders to earn staking rewards. By locking your Bitcoin natively on the Bitcoin network through a time-bound mechanism, you can actively participate in the Core blockchain's Consensus mechanism while staking. Here are the steps involved in this process. - +1. **Initiate Staking:** Start by accessing either the [CLI-based BTC Staking Tool](https://github.com/coredao-org/btc-staking-tool) (for technical users) or the [web-based staking platform](https://stake.coredao.org/) (for general users). +2. **Stake Bitcoin with Time-Lock:** You stake your Bitcoin by sending a transaction on the Bitcoin network with a time-lock parameter, and your Bitcoin remains locked until the specified period ends. Ensure you follow the requirements for a transaction to be valid and eligible; refer [here](https://docs.google.com/document/d/1DfhLwMfANGYhcJe4UiyRJxpw1FvFX6k-QQK4cMYYOls/edit?tab=t.0#heading=h.mwjq55dgslw5) for more details. + 1. There is no minimum staking period requirements, however, make sure to thoughtfully select your lockup periods. + 2. Include the Core Validator Address to delegate your assets. + 3. Include the Core wallet address for rewards. +3. **Vote for Validators:** By including the address of the Core Validators in your transaction, you can delegate your staked Bitcoin to the chosen validator on the Core blockchain. +4. **Connect a Core wallet for rewards:** In the return field, verify your Core wallet address; you'll receive CORE token rewards at this address. +5. **Claiming Rewards:** Accrued CORE token rewards will also appear on the [staking site](http://stake.coredao.org/). CORE token rewards will appear when users connect their wallets, and can be claimed daily. +6. **Redeem Bitcoin:** Once the staking lock time expires, the staked Bitcoin will remain idle in the staking address until redeemed by the user. -2. Alternatively, you can use this guide: [Add Core to MetaMask](https://medium.com/@core\_dao/add-core-to-metamask-7b1dd90041ce) for a more detailed step by step guideline for manually filling out the network information. +## Non-Custodial Bitcoin Staking Walkthrough -## Before you Start Staking +To begin staking your Bitcoin on the Core blockchain and earn staking rewards in CORE tokens, follow the steps detailed below to stake Bitcoin through Core's official [staking website](http://stake.coredao.org/). -Let's clarify the staking mechanism, so you know what to expect going into Non-Custodial BTC Staking. +### Connect Core Wallet -1. **Minimum of 0.01 BTC + Gas Fee** +1. Visit [https://stake.coredao.org](https://stake.coredao.org/) and click on **Validators** on the top header. - * **Why is this necessary:** To ensure a smooth staking experience, you need to have a minimum of **0.01 BTC** available along with the necessary gas fee required for executing transactions on the Bitcoin network. Gas fees cover the cost of processing transactions on the blockchain. Additionally, we recommend having at least **0.05 BTC** if staking for less than **1 month**. This buffer accounts for potential network congestion, where transaction gas prices may exceed the earned staking reward. +2. Click **Connect Wallet** in the top right corner of the header to connect your Core wallet. From the supported list of wallets, choose your desired Core wallet. For this walkthrough, we have used Metamask. -2. **Understanding Staking Address Differences** ++ +
- * **What's happening:** You may notice that the staking address provided differs from your original Bitcoin address. - * **What it means:** The staking address is derived from your wallet's master private key, ensuring your control and security over your assets. Your Bitcoin remains safely stored in the staking address controlled by your private key, unaffected by staking. Weâre actively working with wallet partners to support this display of your assets in a timely manner. - * You can view your staked funds by searching the staking address on a Bitcoin explorer, [Mempool.space](https://mempool.space/) is an option we recommend. We're actively working to make staked assets visible in the wallet. +3. Confirm the wallet notification to allow to connect to the staking website. -3. **Considerations for Locking Periods** ++ +
- * **Important reminder:** Once you lock your Bitcoin for staking, it's inaccessible until the staking period concludes. - * **Choosing wisely:** We advise selecting your locking period thoughtfully, taking into account your investment objectives and risk tolerance. Starting with shorter locking periods can help you become familiar with the process before committing to longer durations. +### Selecting a Core Validator for Bitcoin Delegation - These prompts aim to provide clarity and confidence as you embark on your Non-Custodial BTC Staking journey. Your understanding and preparedness are key to a successful staking experience. Now, let's guide you through the step-by-step process of staking your Bitcoin on the Core blockchain and earning Core token rewards. +4. Once on the **Validators** page, scroll down to view the list of Core Validators and choose the Validator to whom you wish to delegate your Bitcoins. Please ensure to choose active validators. -## How Non-custodial BTC Staking Works ++ +
-### Overview of the Staking Process +5. By clicking on the name of the desired validator, you will be directed to the **Validator Details** page. This page displays details about the staking/delegation records for the selected validator. -Non-Custodial BTC staking introduces a secure and decentralized method for Bitcoin holders to earn rewards. By locking your Bitcoin within the original network through a time-bound mechanism, you can actively participate in the Core blockchain's Consensus mechanism while staking. Here are the steps involved in this process. ++ +
-1. **Initiate Staking:** Start by accessing the staking platform using either the [command line interface for technical users](https://github.com/coredao-org/btc-staking-tool) or the web-based frontend for general users [https://stake.coredao.org](https://stake.coredao.org) -2. **Stake BTC with Time-Lock:** Stake your Bitcoin by sending a transaction on the Bitcoin network with a time-lock parameter, ensuring that your BTC remains locked until the specified period ends. The minimum staking period is **10 days**. -3. **Vote for Validators:** Delegate your staked BTC to the chosen validator on the Core blockchain. -4. **Connect Core Chainâs wallet for rewards:** Verify your Core address in the return field, where you'll receive Core token rewards. -5. **Claiming Rewards:** Core token rewards will appear when users connect their wallet, and can be claimed daily. Core token rewards will appear on the (staking site)\[[https://stake.coredao.org](http://stake.coredao.org/)]. -6. **Redeem BTC:** Once the staking lock time expires, the staked BTC will remain idle in the staking address until redeemed by the user. +6. Click on the **Stake** button, then select **BTC** -## Non-Custodial BTC Staking Walkthrough ++ +
-To begin staking your Bitcoin on the Core blockchain and earn Core token rewards, follow these steps: +7. To connect your Bitcoin wallet, click on the supported wallet of your choice. For this walkthrough, we selected Unisat. -### Connect Your Wallet ++ +
-Connecting your wallet is the first step towards accessing the staking platform and initiating the staking process. This will enable you to interact with the Core blockchain and participate in Non-Custodial BTC Staking. +8. Once your Bitcoin wallet is connected, it's important to understand and specify several key parameters: +* Specify the amount of Bitcoin youâd like to delegate. The minimum amount to delegate is **0.01 Bitcoin**. +* Setting the lock time determines when your staked Bitcoin will be unlocked and available again for redemption or re-delegation. + * You can input values by selecting inside the lock time box or clicking on the calendar icon to select the date and click âOKâ to proceed. + * The default lock time is set to a month in advance. +* Specify the network priority speed for your transaction -1. Visit [https://stake.coredao.org](https://stake.coredao.org) ++ +
-2. Once on the website, locate and click on the "**Connect Wallet**" button. +9. Note that the **Reward Address on Core** is pulled from the connected Core wallet. You should connect the Core wallet with the same address on which you want to receive staking rewards in CORE tokens. +10. Click **Confirm** to complete the transaction. - +### Confirm OP\_Return Output +11. Before Signing the transaction in your wallet, verify the transaction outputs to ensure they include an OP\_Return output. The OP\_Return output is where your redeem\_script is saved and is essentially used to redeem your staked Bitcoin. There may be two or three outputs, but at least one should always be OP\_Return. Abort the transaction if it doesn't include the OP\_Return output. -3. **Choose an available wallet** ++ +
- * If you do not yet have a wallet, refer to **[Core Wallet for Rewards](#prerequisites)** in the prerequisite section above. +12. Once you confirm the transition, you will receive a **Transaction Submitted** notification. You can verify your transaction by clicking **View on BTC Explore**. -4. **Choose a validator to delegate BTC** ++ +
-Here, we will be selecting a validator that weâd like to delegate our BTC to. In the example shown, we will be choosing Validator 4, but youâre free to choose any active validator. +### Viewing Staking Records - 1. Click name of chosen validator to select +13. In the top right corner of the staking website, hover over your connected wallet and click **My Staking**. - ++ +
- 2. Hover over Delegate, and then select âBTCâ on the dropdown +14. The **My Staking** page displays records of all your staking (CORE, BTC, and hash). Click on the **BTC Records** tab to show details of your BTC delegations. - ++ +
-### Connect BTC wallet - - 1. Upon selecting a validator to delegate BTC in the previous step, you will be prompted to connect a BTC wallet - -:::info -In this example, we demonstrate using Unisat Wallet, but it's compatible with Xverse Wallet as well. Ensure you have either of these two installed. -::: - - 2. On the Connect wallet pop up screen, select one of the available wallets. - -* For developers and more advanced users who are interested in using the Stake Tool, refer[ here.](https://github.com/coredao-org/btc-staking-tool?tab=readme-ov-file) - - - - 3. On the following screen, click **Connect** - - - -### Delegate BTC - -While initiating the delegation process, it's important to understand and specify several key parameters: - -1. **Specifying the amount of BTC youâd like to delegate** - -* The minimum amount to delegate is **0.01 BTC** -* In our example, we will be delegating **0.05 BTC** which satisfies this requirement - - - -2. **Setting the lock time** â this determines when your staked BTC will be unlocked and available for use again on your local device. - -* Select inside lock time box to input values -* The default lock time is set to a month in advance. The minimum lock time is **10 days.** -* In our example, weâve selected a date 10 days in advance (April 24) -* Click â**OK**â to proceed - - - -3. Specifying the network priority speed for your transaction - - - -4. Finally, click â**Confirm Delegation**â to **Delegate BTC** - - - -5. Before Signing the transaction in your wallet, verify the transaction outputs to make sure it includes an OP\_Return output. OP\_Return output is where your redeem\_script is saved and is essentially for redeeming your staked BTC. There may be 2 or 3 outputs, but at least one of the outputs should always be OP\_Return. Abort the transaction if it doesn't include the OP\_Return output. - - - -6. Verify Transaction Submitted - - - -5. From any CORE screen, hover over your connected wallet in the top right corner click â**My Staking**â. - - - -6. At the **Delegator** screen, look for the column **BTC(x)** and click. - -  - -7. Verify your chosen validator is pending transaction confirmation. - -  - -8. Verify your chosen validator says â**Rewarding**â under '**Redeem** **Time**'. - -  - -**Congratulations.** You have succesfully staked your BTC on the Core blockchain and will now actively earn CORE tokens from your delegated BTC. Through staking BTC and voting for validators, you actively contribute to the governance and security of the Core network, helping maintain its balance and decentralization. - -Weâre happy youâve chosen to journey into BTCfi with Non-Custodial BTC Staking on Core! +**Congratulations!!** You have successfully staked your Bitcoin on the Core blockchain and will now actively earn CORE tokens from your delegated Bitcoin. Through staking Bitcoin and voting for validators on Core, you actively contribute to the governance and security of the Core network, supporting its decentralization and stability. diff --git a/docs/Learn/products/coreBTC/design.md b/docs/Learn/products/coreBTC/design.md index de22a15d91..6de6d01832 100644 --- a/docs/Learn/products/coreBTC/design.md +++ b/docs/Learn/products/coreBTC/design.md @@ -5,56 +5,56 @@ sidebar_position: 2 --- # Design of coreBTC -The coreBTC within the Core blockchain represents a significant innovation in the realm of blockchain technology, specifically focusing on enhancing Bitcoin's utility within decentralized finance (DeFi). This synthetic representation of Bitcoin on the Core Chain ensures seamless interaction with DeFi applications while maintaining the inherent properties of Bitcoin. +The coreBTC within the Core blockchain represents a significant innovation in the realm of blockchain technology, specifically focusing on enhancing Bitcoin's utility within decentralized finance (DeFi). This synthetic representation of Bitcoin on the Core blockchain enables seamless interaction with DeFi applications while maintaining the critical properties of Bitcoin. ## Key Components and Their Roles **1. Lockers:** - - **Role:** Lockers are responsible for holding the actual Bitcoin that backs the coreBTC. Users send their Bitcoin to a Locker's address to initiate the wrapping process. Anyone can register as a Locker on Core Chain by locking up collateral, and the Core Chain itself also runs one of the many Lockers. - - **Security:** Lockers must provide a significant amount of collateral in CORE tokens to ensure the security of the Bitcoin they hold. This collateral can be liquidated to cover losses in case of malfeasance, providing a strong disincentive against fraudulent activities. + - **Role:** Lockers are responsible for holding the actual Bitcoin that backs the coreBTC. Users send their Bitcoin to a Locker's address to initiate the wrapping process. Anyone can register as a Locker on Core by locking up collateral. + - **Security:** Lockers must provide a significant amount of collateral in CORE tokens to uphold the security of the Bitcoin they hold. This collateral can be liquidated to cover losses in case of malfeasance, providing a strong disincentive against fraudulent activities. **2. Collateral:** - - The particular assets and required collateral ratio are network parameters determined by the Core DAO, and the collateral deposited by Lockers means that locked bitcoin should always be backed by assets of a higher value. If there's a change in the price of bitcoin relative to the value of the collateral, the Locker must adjust its collateral or face potential liquidation. + - The particular assets and required collateral ratio are network parameters determined by Core DAO, and the collateral deposited by Lockers means that locked bitcoin should always be backed by assets of a higher value. If there's a change in the price of bitcoin relative to the value of the collateral, the Locker must adjust its collateral or face potential liquidation. - Collateral can be slashed if Lockers transfer bitcoin without authorization or do not promptly return bitcoin when coreBTC is burned. - Lockers can unregister and retrieve their collateral at any time, as long as they have no residual bitcoin locked and have no unfulfilled unlocking requests. In exchange for the services provided, Lockers earn small fees. **2. Relayers:** - - **Role:** Relayers monitor the Bitcoin blockchain for locking transactions directed at Lockers and validate these transactions. They play a crucial role in ensuring that the locked Bitcoin corresponds accurately to the minted coreBTC on the Core Chain. - - **Functionality:** Upon detecting a valid locking transaction, Relayers submit proof to the Core Chain to mint the corresponding amount of coreBTC, bridging Bitcoin into the Core Chain ecosystem securely. + - **Role:** Relayers monitor the Bitcoin blockchain for locking transactions directed at Lockers and validate these transactions. They play a crucial role in verifying that the locked Bitcoin corresponds accurately to the minted coreBTC on the Core blockchain. + - **Functionality:** Upon detecting a valid locking transaction, Relayers submit proof to Core to mint the corresponding amount of coreBTC, bridging Bitcoin to the Core blockchain ecosystem securely. **3. coreBTC Smart Contract:** - - **Role:** The coreBTC smart contract on the Core Chain manages the minting and burning of coreBTC tokens. It interacts with Relayers and Lockers to ensure that all operations adhere to the protocol rules. + - **Role:** The coreBTC smart contract on Core manages the minting and burning of coreBTC tokens. It interacts with Relayers and Lockers to incentivize all operations to adhere to the protocol rules. - **Security Mechanisms:** The smart contract includes mechanisms for verifying transaction proofs submitted by Relayers, managing collateral posted by Lockers, and executing the minting and redemption processes of coreBTC. **4. Liquidators:** - - **Role:** In the event of price fluctuations or Locker misbehavior, Liquidators are responsible for ensuring the safety and backing of the coreBTC by enforcing collateral requirements. + - **Role:** In the event of price fluctuations or Locker misbehavior, Liquidators are responsible for upholding the safety and backing of the coreBTC by enforcing collateral requirements. - **Function:** Liquidators can force the liquidation of a Locker's collateral if the value of the locked Bitcoin falls or if the Locker fails to maintain the required collateral ratio. This helps maintain the integrity and backing of the coreBTC. **5. Guardians: ** - **Role:** The activity of Lockers is monitored by Guardians, who check for any misbehavior and apply slashing as appropriate. - - **Function:** A Guardian can trigger Core Chain smart contract to slash some of the Lockerâs collateral. In this event, a portion of the Locker's collateral, equivalent to the value of the user's burned coreBTC, is transferred to the user. Additionally, the slasher is rewarded with a percentage of this collateral value for their action. + - **Function:** A Guardian can trigger Core smart contract to slash some of the Lockerâs collateral. In this event, a portion of the Locker's collateral, equivalent to the value of the user's burned coreBTC, is transferred to the user. Additionally, the slasher is rewarded with a percentage of this collateral value for their action. ## How coreBTC Works -coreBTC is an innovative synthetic asset developed within the Core blockchain ecosystem that allows Bitcoin to be used seamlessly in decentralized finance (DeFi) applications on the Core Chain. The process begins when a user locks their Bitcoin with a designated custodian known as a **Locker**, who holds the actual Bitcoin and provides a significant amount of collateral to secure the transaction. This Bitcoin is then represented on the Core Chain as coreBTC, maintaining a strict **1:1 peg** to ensure value consistency between the locked Bitcoin and the issued coreBTC. +coreBTC is an innovative synthetic asset developed within the Core blockchain ecosystem that allows Bitcoin to be used seamlessly in decentralized finance (DeFi) applications on the Core blockchain. The process begins when a user locks their Bitcoin with a designated custodian known as a **Locker**, who holds the actual Bitcoin and provides a significant amount of collateral to secure the transaction. This Bitcoin is then represented on Core as coreBTC, maintaining a strict **1:1 peg** to uphold value consistency between the locked Bitcoin and the issued coreBTC. -Relayers play a crucial role in monitoring these Bitcoin transactions and validating them to the Core Chain. Once validated, the transaction details are sent to the coreBTC smart contract, which mints an equivalent amount of coreBTC and credits it to the user's wallet. This coreBTC can then be used across various DeFi platforms within the Core Chain ecosystem, enabling Bitcoin holders to engage in lending, borrowing, trading, and other financial activities without actually spending or risking their original Bitcoin holdings. +Relayers play a crucial role in monitoring these Bitcoin transactions and validating them on Core. Once validated, the transaction details are sent to the coreBTC smart contract, which mints an equivalent amount of coreBTC and credits it to the user's wallet. This coreBTC can then be used across various DeFi platforms within the Core ecosystem, enabling Bitcoin holders to engage in lending, borrowing, trading, and other financial activities without actually spending or risking their original Bitcoin holdings. -Redemption of coreBTC for the original Bitcoin involves the user initiating a burn process where the coreBTC is destroyed, and the corresponding Bitcoin is unlocked and returned from the Locker to the userâs specified address. The entire system is safeguarded by rigorous collateral management and liquidation protocols that ensure Lockers maintain sufficient collateral against the Bitcoin they hold. Additionally, slashing mechanisms are in place to penalize any fraudulent activities by Lockers, protecting the integrity and trustworthiness of coreBTC within the Core Chain ecosystem. This design not only enhances the liquidity and utility of Bitcoin but also maintains its core properties of decentralization and security. +Redemption of coreBTC for the original Bitcoin involves the user initiating a burn process where the coreBTC is destroyed, and the corresponding Bitcoin is unlocked and returned from the Locker to the userâs specified address. The entire system is safeguarded by rigorous collateral management and liquidation protocols, so Lockers maintain sufficient collateral against the Bitcoin they hold. Additionally, slashing mechanisms are in place to penalize any fraudulent activities by Lockers, protecting the integrity and trustworthiness of coreBTC within the Core ecosystem. This design not only enhances the liquidity and utility of Bitcoin but also maintains its core properties of decentralization and security. ## Minting and Pegging In coreBTC Locking Bitcoin and pegging it into coreBTC are crucial for maintaining the integrity and trustworthiness of the synthetic asset: - **Secure Storage:** Locked Bitcoin is stored in addresses controlled by Lockers, who are incentivized to maintain security and transparency due to their collateral obligations. -- **Collateralization:** The collateral provided by Lockers underpins the pegging process, ensuring that for every coreBTC in circulation, there is an equivalent amount of Bitcoin securely held by a Locker. +- **Collateralization:** The collateral provided by Lockers underpins the pegging process, so that for every coreBTC in circulation, there is an equivalent amount of Bitcoin securely held by a Locker. -Minting of coreBTC begins when a user locks their Bitcoin into the system. The user sends Bitcoin to a secure address controlled by a designated entity known as a Locker. This action triggers the minting process on the Core Chain. +Minting of coreBTC begins when a user locks their Bitcoin into the system. The user sends Bitcoin to a secure address controlled by a designated entity known as a Locker. This action triggers the minting process on the Core blockchain. -- **Lockers:** These are trusted nodes within the Core Chain network responsible for holding the actual Bitcoin. Each Locker must deposit a significant amount of collateral, usually in CORE tokens, to cover potential defaults or fraudulent activities. -- **Relayers:** After the Bitcoin is sent to the Locker's address, Relayers monitor these transactions. Once a transaction is confirmed, Relayers validate it and submit proof to the coreBTC smart contract on the Core Chain. -- **Smart Contract Execution:** Upon receiving the necessary proof from Relayers, the coreBTC smart contract calls the bitcoin Light Client to verify the authenticity and finality of the relevant bitcoin transaction, and then mints an equivalent amount of coreBTC. This minted coreBTC is then issued to the user's wallet on the Core Chain, reflecting a 1:1 peg with the locked Bitcoin. +- **Lockers:** These are nodes within the Core network responsible for holding the actual Bitcoin. Each Locker must deposit a significant amount of collateral, usually in CORE tokens, to cover potential defaults or fraudulent activities. +- **Relayers:** After the Bitcoin is sent to the Locker's address, Relayers monitor these transactions. Once a transaction is confirmed, Relayers validate it and submit proof to the coreBTC smart contract on the Core blockchain. +- **Smart Contract Execution:** Upon receiving the necessary proof from Relayers, the coreBTC smart contract calls the bitcoin Light Client to verify the authenticity and finality of the relevant bitcoin transaction, and then mints an equivalent amount of coreBTC. This minted coreBTC is then issued to the user's wallet on the Core blockchain, reflecting a 1:1 peg with the locked Bitcoin.  @@ -63,27 +63,27 @@ Minting of coreBTC begins when a user locks their Bitcoin into the system. The u Redemption, or pegging out, involves reversing the minting process: - **Burning coreBTC:** Users initiate the redemption process by sending a request to the coreBTC smart contract to burn a specified amount of coreBTC, indicating the Bitcoin address where they wish to receive their Bitcoin. -- **Unlocking Bitcoin:** Upon successful burning of the coreBTC, the smart contract signals the Locker to release the corresponding amount of Bitcoin. The Locker then sends this Bitcoin to the user's specified address, completing the pegging out process. Once the bitcoin transaction is confirmed, the Locker transmits it to Core Chain where it is finally verified by the bitcoin Light Client +- **Unlocking Bitcoin:** Upon successful burning of the coreBTC, the smart contract signals the Locker to release the corresponding amount of Bitcoin. The Locker then sends this Bitcoin to the user's specified address, completing the pegging out process. Once the bitcoin transaction is confirmed, the Locker transmits it to Core where it is finally verified by the bitcoin Light Client  ## Liquidation Process -The liquidation process is designed to protect the system from defaults and ensure that the backing of coreBTC remains secure: +The liquidation process is designed to protect the system from defaults and safeguard that the backing of coreBTC remains secure: - **Monitoring Collateral Ratios:** Liquidators continuously monitor the value of the Bitcoin held by Lockers relative to the issued coreBTC. - **Triggering Liquidation:** If the market value of the locked Bitcoin drops significantly, or if a Locker fails to maintain the required collateral ratio, liquidators may initiate the sale of the Locker's collateral to cover potential losses. -- **Mechanism for Liquidation:** Liquidation is conducted through the Core Chain platform, where the insufficient collateral is sold off to maintain the necessary backing for coreBTC. During the process, the Liquidators use coreBTC to buy the collateralized CORE tokens at a discounted price, and the coreBTC is burned. This pushes the collateral ratio up and restores the Locker to a healthy condition. When the coreBTC is burned its supply is reduced and it becomes more scarce, thereby freeing the Locker to take ownership of a quantity of the underlying bitcoin equivalent to the value of the eliminated coreBTC. The Locker is then rebalanced in accordance with the collateral requirements; if the original user who sent bitcoin to that Lockerâs address wants their bitcoin back, they can choose any Locker to get it from. Redemption of coreBTC for bitcoin occurs at a systemic level, itâs not a relationship between one user and one Locker. +- **Mechanism for Liquidation:** Liquidation is conducted through on Core, where the insufficient collateral is sold off to maintain the necessary backing for coreBTC. During the process, the Liquidators use coreBTC to buy the collateralized CORE tokens at a discounted price, and the coreBTC is burned. This pushes the collateral ratio up and restores the Locker to a healthy condition. When the coreBTC is burned its supply is reduced and it becomes more scarce, thereby freeing the Locker to take ownership of a quantity of the underlying bitcoin equivalent to the value of the eliminated coreBTC. The Locker is then rebalanced in accordance with the collateral requirements; if the original user who sent bitcoin to that Lockerâs address wants their bitcoin back, they can choose any Locker to get it from. Redemption of coreBTC for bitcoin occurs at a systemic level, itâs not a relationship between one user and one Locker.  ## Slashing Process -On the Core Chain, the concept of slashing is crucial to maintaining the integrity and security of coreBTC transactions. Slashing is a punitive measure used to penalize Lockers for misconduct or failure to adhere to the established protocols. There are two primary scenarios where slashing may occur, each designed to protect the system and its users from potential fraud and malfeasance: +On the Core blockchain, the concept of slashing is crucial to maintaining the integrity and security of coreBTC transactions. Slashing is a punitive measure used to penalize Lockers for misconduct or failure to adhere to the established protocols. There are two primary scenarios where slashing may occur, each designed to protect the system and its users from potential fraud and malfeasance: ### 1. **Unauthorized Movement of Locked Bitcoin** In this case, slashing occurs if a Locker moves locked Bitcoin without receiving a corresponding burn request from a coreBTC holder. This scenario is considered a serious breach as it directly threatens the 1:1 pegging and trust that coreBTC holders have in the system's ability to securely back their tokens with real Bitcoin. * **Trigger:** The slashing process is triggered when a Locker transfers any locked Bitcoin to an unauthorized address or for any unauthorized purpose that does not correspond to a legitimate and verified request to redeem coreBTC. -* **Detection and Reporting:** This misconduct can be detected through the Core Chain's monitoring systems or by other participants in the network, often referred to as Guardians, who observe and report any suspicious Locker activities. +* **Detection and Reporting:** This misconduct can be detected through Core's monitoring systems or by other participants in the network, often referred to as Guardians, who observe and report any suspicious Locker activities. * **Consequence:** Upon confirmation of the unauthorized transfer, a portion of the Lockerâs collateral is seized and used to compensate for the discrepancy created in the system. This not only penalizes the Locker but also helps to re-establish the balance of backed and circulating coreBTC, maintaining the system's integrity. @@ -94,9 +94,9 @@ This scenario occurs when a coreBTC holder decides to redeem their tokens for th * **Trigger:** A coreBTC holder submits a burn transaction, effectively destroying a certain amount of coreBTC with the expectation of receiving an equivalent amount of Bitcoin from a Locker. If the Locker does not process this transaction and release the Bitcoin as required, slashing is triggered. * **Detection and Response:** Similar to the first case, this failure can be detected by network monitors or reported by users. Upon verification that the Locker has not fulfilled the redemption request in time, the system initiates a slashing protocol. -* **Consequence:** A significant portion of the Locker's collateral is slashed as a punitive and compensatory measure. The slashed collateral is typically used to ensure that the user receives their Bitcoin, preserving trust in the coreBTC system and compensating for any potential losses incurred by the delay or failure. +* **Consequence:** A significant portion of the Locker's collateral is slashed as a punitive and compensatory measure. The slashed collateral is typically used to certify that the user receives their Bitcoin, preserving trust in the coreBTC system and compensating for any potential losses incurred by the delay or failure.  ## Conclusion -The design of coreBTC in Core Chain presents a robust framework for integrating Bitcoin into DeFi applications while maintaining its fundamental characteristics of security and decentralization. Through a well-structured system of minting, redemption, liquidation, and slashing, all backed by strict collateral requirements, coreBTC ensures that Bitcoin's value can be leveraged in new and innovative ways without compromising the trust and security that define it. \ No newline at end of file +The design of coreBTC on Core presents a robust framework for integrating Bitcoin into DeFi applications while maintaining its fundamental characteristics of security and decentralization. Through a well-structured system of minting, redemption, liquidation, and slashing, all backed by strict collateral requirements, coreBTC enables Bitcoin's value to be leveraged in new and innovative ways without compromising the trust and security that define it. diff --git a/docs/Learn/products/coreBTC/how-to-guides.md b/docs/Learn/products/coreBTC/how-to-guides.md index b5cacc0374..c0d1b730dc 100644 --- a/docs/Learn/products/coreBTC/how-to-guides.md +++ b/docs/Learn/products/coreBTC/how-to-guides.md @@ -7,19 +7,19 @@ sidebar_position: 2 # Wrap & Unwrap coreBTC ## Introduction -As a native wrapped BTC on Core, coreBTC maintains a 1:1 peg with BTC through a secured mechanism, powered by a network of decentralized, permissionless participants. This guide covers the essential steps for minting (wrapping) and redeeming (unwrapping) coreBTC, facilitating Bitcoin integration into decentralized finance (DeFi). +As a native wrapped Bitcoin on Core, coreBTC maintains a 1:1 peg with Bitcoin through a secured mechanism, powered by a network of decentralized, permissionless participants. This guide covers the essential steps for minting (wrapping) and redeeming (unwrapping) coreBTC, facilitating Bitcoin integration into decentralized finance (DeFi).  ## Getting Started: Prerequisites -1. [Unisat Wallet Browser Extension](https://unisat.io/): Required for managing your BTC. Note that, Unisat currently has only desktop and Android wallet app. +1. [Unisat Wallet Browser Extension](https://unisat.io/): Required for managing your Bitcoin. Note that, Unisat currently has only desktop and Android wallet app. 2. [MetaMask](https://metamask.io/): Necessary for interacting with the Core blockchain. ## Minting coreBTC 1. **coreBTC Website:** Go to https://bridge.coredao.org/coreBTC 2. **Specify Conversion:** Indicate you're converting from Bitcoin (BTC) to coreBTC. 3. **Connect Unisat Wallet:** Select Connect Unisat Wallet to link your Bitcoin wallet. -4. **Enter BTC Amount:** Input the amount of BTC you wish to convert to coreBTC. +4. **Enter Bitcoin Amount:** Input the amount of Bitcoin you wish to convert to coreBTC. 5. **Receiving Core Address:** Enter your Core blockchain wallet address. 6. **Adjust Fee Rate:** The default fees are set according to the current market rates. For faster transaction processing, it's essential to adjust the gas fee appropriately. Keep in mind that setting a higher fee can significantly speed up the transaction. Conversely, if the fee is set too low, the transaction may experience considerable delays in being mined, potentially taking days or even longer to process. It's crucial to find a balance that aligns with your urgency and the network's current demand. 7. **Verification:** Double-check all details, including amounts, fees, and wallet addresses. @@ -28,11 +28,11 @@ As a native wrapped BTC on Core, coreBTC maintains a 1:1 peg with BTC through a  -## Redeeming BTC from coreBTC +## Redeeming Bitcoin from coreBTC 1. **coreBTC Website:** Go to https://bridge.coredao.org/coreBTC 2. **Specify Conversion:** Choose the conversion from coreBTC to Bitcoin (BTC). 3. **Connect EVM Wallet:** Click on Connect EVM Wallet to link your wallet. -4. **Enter coreBTC Amount:** Specify the amount of coreBTC to be redeemed for BTC. +4. **Enter coreBTC Amount:** Specify the amount of coreBTC to be redeemed for Bitcoin. 5. **Receiving Bitcoin Address:** Enter the destination Bitcoin wallet address. 6. **Verification:** Double-check all details, including amounts, fees, and wallet addresses. 7. **Burn:** Click on 'Burn coreBTC' to start the redemption process. @@ -45,9 +45,9 @@ As a native wrapped BTC on Core, coreBTC maintains a 1:1 peg with BTC through a 1. **Pending Transactions:** View and obtain details on ongoing transactions. 2. **Completed Transactions:** Check the history and specifics of finalized transactions. -3. **Locker States:** Explore available lockers, including their fees, collateral, minting capacity, and health factor. Lockers are crucial for securing BTC and are subject to penalties or liquidation based on behavior and collateral status. +3. **Locker States:** Explore available lockers, including their fees, collateral, minting capacity, and health factor. Lockers are crucial for securing Bitcoin and are subject to penalties or liquidation based on behavior and collateral status. 4. **Relayer States:** Review the list of relayers responsible for data transmission and verification between Bitcoin and Core blockchain. :::note Refer to [coreBTC FAQs section](../../../FAQs/coreBTC-faqs.md) for any queries that you may have. -::: \ No newline at end of file +::: diff --git a/docs/Learn/products/coreBTC/overview.md b/docs/Learn/products/coreBTC/overview.md index c683bd4940..28c5e3b534 100644 --- a/docs/Learn/products/coreBTC/overview.md +++ b/docs/Learn/products/coreBTC/overview.md @@ -8,16 +8,16 @@ sidebar_position: 2 --- ## What is coreBTC? -Core-native wrapped bitcoin (coreBTC) serves as a synthetic representation of Bitcoin on the Core Chain, designed to integrate Bitcoin into the decentralized finance (DeFi) landscape of Core Chain. By locking Bitcoin and issuing an equivalent amount of coreBTC, it ensures a **1:1** value correlation, enabling Bitcoin holders to engage securely in DeFi activities without directly using their Bitcoin holdings. +Core-native wrapped bitcoin (coreBTC) serves as a synthetic representation of Bitcoin on the Core blockchain, designed to integrate Bitcoin into the decentralized finance (DeFi) landscape of Core. By locking Bitcoin and issuing an equivalent amount of coreBTC, it upholds a **1:1** value correlation, enabling Bitcoin holders to engage securely in DeFi activities without directly using their Bitcoin holdings. ## Importance in the Core Ecosystem -coreBTC is central to developing a vibrant Bitcoin DeFi (BTCFi) ecosystem within Core Chain. It unlocks the significant value stored in Bitcoin by making it usable in smart contracts and other blockchain-based financial services, potentially involving nearly **$1 trillion** worth of Bitcoin. This facilitates greater liquidity and usability of Bitcoin, enhancing its overall ecosystem. +coreBTC is central to developing a vibrant Bitcoin DeFi (BTCfi) ecosystem within Core. It unlocks the significant value stored in Bitcoin by making it usable in smart contracts and other blockchain-based financial services, potentially involving nearly **$1 trillion** worth of Bitcoin. This facilitates greater liquidity and usability of Bitcoin, enhancing its overall ecosystem. ## Advantages of coreBTC -- **Enhanced Liquidity and Usability:** coreBTC enables Bitcoin holders to participate in the DeFi ecosystem on the Core Chain, providing liquidity and increased utility for their Bitcoin holdings. +- **Enhanced Liquidity and Usability:** coreBTC enables Bitcoin holders to participate in the DeFi ecosystem on the Core blockchain, providing liquidity and increased utility for their Bitcoin holdings. -- **Decentralization and Security:** Unlike traditional wrapped Bitcoin solutions, coreBTC uses a decentralized network of Lockers, ensuring that the process maintains the foundational blockchain principles of decentralization and security. +- **Decentralization and Security:** Unlike traditional wrapped Bitcoin solutions, coreBTC uses a decentralized network of Lockers, so that the process maintains the foundational blockchain principles of decentralization and security. - **Decentralized Operations:** The coreBTC system allows Bitcoin to be locked and wrapped without relying on a central authority, maintaining the decentralization that is central to blockchain technology. @@ -25,35 +25,35 @@ coreBTC is central to developing a vibrant Bitcoin DeFi (BTCFi) ecosystem within - **Maintains Bitcoinâs Integrity:** By not requiring Bitcoin holders to transfer their actual bitcoins to a different blockchain or alter them in any significant way, coreBTC preserves the integrity and value of the original Bitcoin holdings. -- **Long-term Incentives:** The design of the coreBTC system includes long-term incentives for all participants, including Lockers and Relayers, ensuring the sustainability and stability of the service. +- **Long-term Incentives:** The design of the coreBTC system includes long-term incentives for all participants, including Lockers and Relayers, designed for the sustainability and stability of the service. -- **Collateralized and Insured:** The collateral requirements for Lockers act as an insurance mechanism that protects against fraudulent activities and ensures the fidelity of the wrapping process. +- **Collateralized and Insured:** The collateral requirements for Lockers act as an insurance mechanism that protects against fraudulent activities and uphold the fidelity of the wrapping process. -- **Integration with Core Chain's DeFi:** coreBTC can be seamlessly used within the Core Chainâs DeFi applications, such as lending, borrowing, and trading, similar to how other stablecoins and synthetic assets are used in DeFi platforms. +- **Integration with Core DeFi:** coreBTC can be seamlessly used within Coreâs DeFi applications, such as lending, borrowing, and trading, similar to how other stablecoins and synthetic assets are used in DeFi platforms. - **Support for Bitcoin's Value Proposition:** coreBTC leverages Bitcoin's reputation and market strength, enhancing its functionality while continuing to support its value proposition as a store of value. -- **Scalability:** By providing a mechanism for Bitcoin to be used on Core Chain, coreBTC helps scale the usability of Bitcoin without requiring changes to its underlying protocol, preserving its original attributes while expanding its use cases. +- **Scalability:** By providing a mechanism for Bitcoin to be used on Core, coreBTC helps scale the usability of Bitcoin without requiring changes to its underlying protocol, preserving its original attributes while expanding its use cases. ## Why Opt for coreBTC? -Opting for coreBTC offers several compelling benefits, making it an attractive choice for Bitcoin holders and users in the Core Chain ecosystem. Hereâs a bulleted list outlining why one might choose coreBTC: +Opting for coreBTC offers several compelling benefits, making it an attractive choice for Bitcoin holders and users in the Core ecosystem. Hereâs a bulleted list outlining why one might choose coreBTC: -- **Seamless DeFi Integration:** coreBTC allows Bitcoin holders to seamlessly engage with DeFi applications on the Core Chain, expanding the utility of their Bitcoin without converting it into other cryptocurrencies. +- **Seamless DeFi Integration:** coreBTC allows Bitcoin holders to seamlessly engage with DeFi applications on the Core blockchain, expanding the utility of their Bitcoin without converting it into other cryptocurrencies. - **Preservation of Bitcoinâs Properties:** By using coreBTC, users can enjoy the benefits of Bitcoinâs fundamental characteristicsâsuch as its robust security and scarcityâwhile participating in a diverse range of blockchain activities. -- **Decentralized and Secure:** The decentralized nature of the coreBTC issuance and management system ensures that users are not reliant on any single central party, maintaining the decentralization ethos of blockchain technology. +- **Decentralized and Secure:** The decentralized nature of the coreBTC issuance and management system is designed so that users are not reliant on any single central party, maintaining the decentralization ethos of blockchain technology. -- **Enhanced Liquidity:** coreBTC provides Bitcoin holders with increased liquidity options, allowing them to leverage their holdings in various financial transactions and smart contracts within the Core Chain ecosystem. +- **Enhanced Liquidity:** coreBTC provides Bitcoin holders with increased liquidity options, allowing them to leverage their holdings in various financial transactions and smart contracts within the Core ecosystem. - **No Custody Risk:** Users retain full control over their Bitcoin until they decide to lock it up for coreBTC, reducing the custody risk typically associated with handing over assets to a third party. - **Fiat Peg Avoidance:** Unlike stablecoins pegged to fiat currencies, coreBTC is pegged directly to Bitcoin, avoiding issues related to fiat currency volatility and inflation. -- **Reward Opportunities:** Users can earn additional rewards in CORE tokens by participating in the staking and security of the Core Chain, thereby increasing their potential investment returns. +- **Reward Opportunities:** Users can earn additional rewards in CORE tokens by participating in the staking and security of the Core blockchain, thereby increasing their potential investment returns. -- **Future-Proof Investment:** As Core Chain continues to develop and expand its offerings, holding coreBTC could provide strategic advantages in accessing new services and features as they become available on the platform. +- **Future-Proof Investment:** As Core continues to develop and expand its offerings, holding coreBTC could provide strategic advantages in accessing new services and features as they become available on the platform. Choosing coreBTC allows users to leverage the security and value of Bitcoin within a dynamic and growing DeFi ecosystem, aligning traditional Bitcoin investment with modern blockchain technology opportunities. @@ -63,4 +63,4 @@ Choosing coreBTC allows users to leverage the security and value of Bitcoin with - **Redemption Process:** Users can burn their coreBTC to retrieve their locked Bitcoin. The coreBTC smart contract verifies the burn and instructs the Locker to send the equivalent Bitcoin to the userâs specified address. ## Conclusion -coreBTC is a transformative component of the Core Chain ecosystem, enhancing the utility of Bitcoin by enabling its active participation in DeFi while adhering to the principles of decentralization and security. Through its intricate system of Lockers, Relayers, and smart contracts, coreBTC ensures that Bitcoin can be safely used and transacted within the Core Chain ecosystem, broadening its appeal and functional utility. \ No newline at end of file +coreBTC is an important component of the Core ecosystem, enhancing the utility of Bitcoin by enabling its active participation in DeFi while adhering to the principles of decentralization and security. Through its intricate system of Lockers, Relayers, and smart contracts, coreBTC enables Bitcoin to be safely used and transacted within the Core ecosystem, broadening its appeal and functional utility. diff --git a/docs/Learn/products/stCore/design.md b/docs/Learn/products/stCore/design.md index 181d4504ee..b147dc0c5f 100644 --- a/docs/Learn/products/stCore/design.md +++ b/docs/Learn/products/stCore/design.md @@ -10,7 +10,7 @@ sidebar_position: 2 stCORE is designed to enhance the utility of the CORE token and simplify the staking process. This initiative allows token holders to maximize their asset potential with greater flexibility and efficiency. ## Design Principles -The primary design principles of liquid staking through stCORE on the Chain Chain are as follows: +The primary design principles of liquid staking through stCORE on the Core are as follows: * Simple and least/no changes to existing blockchain protocols. * Decentralized and wonât bring security concerns to the network. diff --git a/docs/Learn/products/stCore/overview.md b/docs/Learn/products/stCore/overview.md index 934d567c38..b96d35495f 100644 --- a/docs/Learn/products/stCore/overview.md +++ b/docs/Learn/products/stCore/overview.md @@ -5,16 +5,16 @@ sidebar_position: 2 --- -# stCORE - Liquid Staking on Core Chain +# stCORE - Liquid Staking on Core --- -Core Blockchain offers several innovative solutions like Non-Custodial BTC Staking, coreBTC, and Liquid staking in the form of stCORE for users to make the most of their CORE holdings. Liquid staking is a mechanism that allows CORE holders to earn Core Consensus rewards while maintaining the liquidity of their assets. +Core Blockchain offers several innovative solutions like Non-Custodial Bitcoin Staking, coreBTC, and Liquid staking in the form of stCORE for users to make the most of their CORE holdings. Liquid staking is a mechanism that allows CORE holders to earn Core Consensus rewards while maintaining the liquidity of their assets. ## What is Liquidity Staking? Staking CORE helps secure the network but prevents token holders from participating in different DeFi protocols as their tokens cannot be used for other purposes while staked. Minting a new Liquidity Staking Token (stCORE) unlocks a world of possibilities, allowing token holders to utilize their tokens in different interactions while continuing to earn the staking rewards. Essentially, liquid staking unlocks liquidity for staked tokens, building upon existing staking systems. ## Primary Purpose of stCORE -The primary purposes of introducing liquid staking via stCORE on Core Chain are: +The primary purposes of introducing liquid staking via stCORE on Core are: * Improve user experience * Bring more utilities of CORE token @@ -22,23 +22,23 @@ The primary purposes of introducing liquid staking via stCORE on Core Chain are: For the moment users can stake CORE tokens to individual validators directly through https://stake.coredao.org. However, there are two drawbacks raised by the community * There is no auto-compounding feature, and users need to claim rewards and restake them to validators manually everyday. -* The hash stakes from BTC mining pools are less fungible and not as stable as CORE stakes, which causes affected validatorsâ APR to change more dramatically. +* The hash stakes from Bitcoin mining pools are less fungible and not as stable as CORE stakes, which causes affected validatorsâ APR to change more dramatically. On the other hand, we are also seeking ways to add more utilities to the CORE token itself. By introducing stCORE, we expect the CORE token itself to also benefit. E.g. to provide CORE/stCORE liquidity pairs in decentralized exchanges. -## Steps involved in Liquid Staking on Core Chain +## Steps involved in Liquid Staking on Core 1. **Staking Setup:** To participate in Core liquid staking, users need to convert their CORE holdings into a staked CORE (stCORE) format. This involves locking up a certain amount of CORE and depositing it into the stCORE staking contract, which will automatically delegate the CORE to selected validators on the chain. -2. **Issuance of stCORE:** In return for staking CORE, users receive liquid staking tokens,, i.e., stCORE. These tokens represent their staked CORE holdings and can be freely traded or transferred while still earning staking rewards. +2. **Issuance of stCORE:** In return for staking CORE, users receive liquid staking tokens (stCORE). These tokens represent their staked CORE holdings and can be freely traded or transferred while still earning staking rewards. 3. **Staking Rewards:** Users can earn annualized return on holding stCORE which is the projected yearly increase in its conversion ratio with CORE. This means that users can exchange for more CORE when they burn their stCORE. -## Benefits of Liquid Staking on Core Chain -1. **Liquidity:** One of the major advantages of liquid staking on Core Chain is that it allows users to maintain the liquidity of their CORE holdings. Unlike the traditional staking mechanisms offered by other platforms, where funds are locked for a specific period, Core liquid staking provides flexibility by enabling users to trade or transfer stCORE tokens without waiting for the staking period to end. In the CORE staking model, anyone can unstake their CORE anytime, so they don't really have to wait for staking period to end. Our CORE staking model is "stake & earn", "unstake & stop earning". So it's locked if you want the earning. +## Benefits of Liquid Staking on Core +1. **Liquidity:** One of the major advantages of liquid staking on Core is that it allows users to maintain the liquidity of their CORE holdings. Unlike the traditional staking mechanisms offered by other platforms, where funds are locked for a specific period, Core liquid staking provides flexibility by enabling users to trade or transfer stCORE tokens without waiting for the staking period to end. In the CORE staking model, anyone can unstake their CORE anytime, so they don't really have to wait for staking period to end. Our CORE staking model is "stake & earn", "unstake & stop earning". So it's locked if you want the earning. 2. **Earning Potential:** Core liquid staking allows users to earn rewards on their staked CORE while still participating in the broader Core ecosystem. This presents an opportunity to benefit from both staking rewards and potential price appreciation of Core. ## Conclusion -Liquid staking on Core Chain in the form of stCore provides an innovative and impressive option for CORE holders to maximize their returns while maintaining the liquidity of their assets. By following the necessary steps and being mindful of the associated risks, users can benefit from staking rewards while actively participating in the Core ecosystem. As the Core network evolves and improves with the each upgrade, Core liquid staking is likely to become an increasingly popular choice for CORE holders seeking to optimize their investment strategies. \ No newline at end of file +Liquid staking on Core in the form of stCore provides an innovative and impressive option for CORE holders to maximize their returns while maintaining the liquidity of their assets. By following the necessary steps and being mindful of the associated risks, users can benefit from staking rewards while actively participating in the Core ecosystem. As the Core network evolves and improves with the each upgrade, Core liquid staking is likely to become an increasingly popular choice for CORE holders seeking to optimize their investment strategies. diff --git a/docs/Learn/products/stCore/stCore-on-Core.md b/docs/Learn/products/stCore/stCore-on-Core.md index 7adf9e4ea9..ec7396fcbd 100644 --- a/docs/Learn/products/stCore/stCore-on-Core.md +++ b/docs/Learn/products/stCore/stCore-on-Core.md @@ -12,7 +12,7 @@ The Liquid Staking with stCORE enhances the utility of the CORE token while simp ## Getting Started: Prerequisites -1. **Ensure CORE Token Availability:** Verify that your Core chain wallet contains the necessary amount of CORE tokens for staking. +1. **Check CORE Token Availability:** Verify that your Core wallet contains the necessary amount of CORE tokens for staking. 2. **Access the Staking Platform:** [Visit Core Liquid Stacking Platform](https://stake.coredao.org/stcore) 3. **Wallet Connection:** Connect your wallet to the platform. @@ -45,4 +45,4 @@ The Liquid Staking with stCORE enhances the utility of the CORE token while simp 6. **Withdrawal:** Post-unlocking, click '_Withdraw_' to transfer CORE to your wallet. - \ No newline at end of file + diff --git a/docs/Node/Full-Node/on-testnet.md b/docs/Node/Full-Node/on-testnet.md index d0f7b02095..87f4c0d9db 100644 --- a/docs/Node/Full-Node/on-testnet.md +++ b/docs/Node/Full-Node/on-testnet.md @@ -41,7 +41,7 @@ For full nodes on **Core testnet**, we recommend the following minimal hardware 1\. We recommend using the [core-chain](https://github.com/coredao-org/core-chain) GitHub repository to directly build and run your full node, running your full node directly from our blockchain codebase. Instructions for building the source code can be found in the repository's [README](https://github.com/coredao-org/core-chain#building-the-source). -2\. Download the latest node binary for Core Testnet from Core Chain GitHub [releases repo](https://github.com/coredao-org/core-chain/releases/latest). The node binary includes the relevant testnet configuration files. Download the latest snapshot for testnet from [here](https://github.com/coredao-org/core-snapshots?tab=readme-ov-file#testnet). _Note that the recommended method for syncing testnet node is to sync from genesis block_. +2\. Download the latest node binary for Core Testnet from Core's GitHub [releases repo](https://github.com/coredao-org/core-chain/releases/latest). The node binary includes the relevant testnet configuration files. Download the latest snapshot for testnet from [here](https://github.com/coredao-org/core-snapshots?tab=readme-ov-file#testnet). _Note that the recommended method for syncing testnet node is to sync from genesis block_. 3\. Write the genesis state locally by executing the following command from your project directory: diff --git a/docs/Node/config/archive-node-config.md b/docs/Node/config/archive-node-config.md index 1cc7e75e46..a5d3266f26 100644 --- a/docs/Node/config/archive-node-config.md +++ b/docs/Node/config/archive-node-config.md @@ -7,7 +7,7 @@ sidebar_position: 2 # Archive Node Configuration --- -Archive nodes in the Core network play a crucial role in maintaining the complete historical state of the network. These nodes are specialized versions of full nodes with enhanced capabilities tailored to storing and providing access to the entire history of all transactions and states since the inception of the Core Chain. +Archive nodes in the Core network play a crucial role in maintaining the complete historical state of the network. These nodes are specialized versions of full nodes with enhanced capabilities tailored to storing and providing access to the entire history of all transactions and states since the inception of the Core. ## System Requirements @@ -49,7 +49,7 @@ For Archive Nodes on **Core Blockchain Mainnet**, we recommend the following min ## Running Core Archive Node 1\. We recommend using the [core-chain](https://github.com/coredao-org/core-chain) GitHub repository to directly build and run your full node, running your full node directly from our blockchain codebase. Instructions for building the source code can be found in the repository's [README](https://github.com/coredao-org/core-chain#building-the-source). -2\. Download the latest node binary for from Core Chain GitHub [releases repo](https://github.com/coredao-org/core-chain/releases/latest) and the latest snapshot for archive node from Core's [Snapshot Repository](https://github.com/coredao-org/core-snapshots?tab=readme-ov-file#archive-full). The node binary includes the relevant mainnet and testnet configuration files. +2\. Download the latest node binary for from Core's GitHub [releases repo](https://github.com/coredao-org/core-chain/releases/latest) and the latest snapshot for archive node from Core's [Snapshot Repository](https://github.com/coredao-org/core-snapshots?tab=readme-ov-file#archive-full). The node binary includes the relevant mainnet and testnet configuration files. 3\. Write the genesis state locally by executing the following command from your project directory: diff --git a/docs/Node/config/snapshot-node-config.md b/docs/Node/config/snapshot-node-config.md index 8c4572c23b..4a773cde7f 100644 --- a/docs/Node/config/snapshot-node-config.md +++ b/docs/Node/config/snapshot-node-config.md @@ -44,13 +44,13 @@ For Sanpshot Nodes on **Core Blockchain Mainnet**, we recommend the following mi | Internet Speed | A broadband Internet connection with upload/download speeds of 5Mbps | -## Core Chain Snapshots +## Core Network Snapshots You can get the latest snapshots from [here](https://github.com/coredao-org/core-snapshots). -## Syncing Nodes Using Snapshots on Core Chain Network +## Syncing Nodes Using Snapshots on Core Network -On Core Chain network, you can sync your node to the latest state by several ways. In this document, we guide you through the syncing process of nodes on the Core network using the snapshots. +On Core network, you can sync your node to the latest state by several ways. In this document, we guide you through the syncing process of nodes on the Core network using the snapshots. ### Download Pre-Build Binaries Download the pre-build binaries from the [release page](https://github.com/coredao-org/core-chain/releases/latest) or follow the instructions below diff --git a/docs/Node/config/validator-node-config.md b/docs/Node/config/validator-node-config.md index 9ae0498526..6b59395e96 100644 --- a/docs/Node/config/validator-node-config.md +++ b/docs/Node/config/validator-node-config.md @@ -6,7 +6,7 @@ sidebar_position: 2 # Validator Node Configuration --- -Validators are crucial for securing the network by producing blocks and validating transactions within the Core Chainâs Satoshi Plus consensus framework. +Validators are crucial for securing the network by producing blocks and validating transactions within the Coreâs Satoshi Plus consensus framework. ## System Requirements diff --git a/docs/Node/overview.md b/docs/Node/overview.md index ff8ef1b1f5..9261dc10c1 100644 --- a/docs/Node/overview.md +++ b/docs/Node/overview.md @@ -1,22 +1,22 @@ --- -sidebar_label: Overview of Nodes Running on Core Chain +sidebar_label: Overview of Nodes Running on Core hide_table_of_contents: false sidebar_position: 2 --- -# Nodes in the Core Chain Ecosystem +# Nodes in the Core Ecosystem --- -In the Core Chain ecosystem, the robustness, security, and decentralization of the network are upheld by the nodes operated by community participants. These nodes facilitate various functions, from transaction validation to block propagation, ensuring the network's overall health and efficiency. Depending on your goals, there are different node configurations possible on the Core network. If you haven't already started the Core Chain node, please review the documentation for [Running a Local Validator Node](./validator/running-validator.md) before proceeding with different configurations. +In the Core ecosystem, the robustness, security, and decentralization of the network are upheld by the nodes operated by community participants. These nodes facilitate various functions, from transaction validation to block propagation, ensuring the network's overall health and efficiency. Depending on your goals, there are different node configurations possible on the Core network. If you haven't already started any node on Core network yet, please review the documentation for [Running a Local Validator Node](./validator/running-validator.md) before proceeding with different configurations. * If you want to be part of the governance of the Core Nework: * [Start a Validator Node](./config/validator-node-config.md) -* If you want to run a Core Chain node for private use: +* If you want to run a node on Core network for private use: * [Start a Normal Full Node](./Full-Node/on-mainnet.md) -* If you want to send transactions or query the chain directly from your own Core Chain node: +* If you want to send transactions or query the chain directly from your own Core blockchain node: * [Start an RPC Node](./config/rpc-node-config.md) @@ -28,7 +28,7 @@ In the Core Chain ecosystem, the robustness, security, and decentralization of t * [Start a Snapshot Node](./config/snapshot-node-config.md) -## Types of Nodes on the Core Chain Network +## Types of Nodes on the Core Network 1. **Validators:** * **Role:** Validators are crucial for securing the network by producing blocks and validating transactions within the Core Chainâs consensus framework. * **Requirements:** Validators need to stake minimum amount of **10,000 CORE tokens** to participate, aligning their financial incentives with the network's performance and security. @@ -59,4 +59,4 @@ In the Core Chain ecosystem, the robustness, security, and decentralization of t * **Snapshot Nodes** aid in efficient network scaling and faster node synchronization. ## Conclusion -The diverse roles of nodes in the Core Chain ecosystem collectively ensure the blockchain is secure, efficient, accessible, and robust. Validators, Full Nodes, and Archive Nodes form the backbone of the network's security and data integrity. At the same time, RPC Nodes, and Snapshot Nodes provide flexibility, accessibility, and scalability. This multi-faceted node architecture supports a wide range of operations from transaction processing to complex dApp interactions and historical data analysis. \ No newline at end of file +The diverse roles of nodes in the Core ecosystem collectively ensure the blockchain is secure, efficient, accessible, and robust. Validators, Full Nodes, and Archive Nodes form the backbone of the network's security and data integrity. At the same time, RPC Nodes, and Snapshot Nodes provide flexibility, accessibility, and scalability. This multi-faceted node architecture supports a wide range of operations from transaction processing to complex dApp interactions and historical data analysis. \ No newline at end of file diff --git a/docs/Node/slashing/overview.md b/docs/Node/slashing/overview.md index 00a67efb38..34d152aae5 100644 --- a/docs/Node/slashing/overview.md +++ b/docs/Node/slashing/overview.md @@ -6,7 +6,7 @@ sidebar_position: 2 # Validator Regulation -**Slashing** and **jailing** are the two basic mechanisms Core Chain uses to disincentivize validator misbehavior, and understanding how they work will go a long way towards making the incentive structure in Core Chain more comprehensible. +**Slashing** and **jailing** are the two basic mechanisms Core blockchain uses to disincentivize validator misbehavior, and understanding how they work will go a long way towards making the incentive structure in Core ecosystem more comprehensible. ## Slashing and Jailing "Slashing" refers to cutting either the rewards a validator would have received in exchange for mining blocks, or to slashing the deposit of CORE tokens that a node makes in order to become a validator in the first place. The severity of the slashing punishment is scaled up in proportion to the validatorâs misbehavior. diff --git a/docs/Node/slashing/slashing-fee.md b/docs/Node/slashing/slashing-fee.md index 36ebc38496..60eb9d4ce9 100644 --- a/docs/Node/slashing/slashing-fee.md +++ b/docs/Node/slashing/slashing-fee.md @@ -10,7 +10,8 @@ sidebar_position: 2 ## Unavailability Slashing penalties are generally incurred because a node fails to successfully produce a block during its designated turn in the **round-robin block-mining** procedure as described in the [Validator Election](../validator/validator-election.md) section. -* If a validator node fails to mine **50 blocks** in a row, the CORE token rewards the validator has accrued so far are slashed completely. +* If a validator node fails to mine **50 blocks** in a row, the CORE token rewards the validator has accrued so far are slashed completely. +* If a validator node fails to mine the first **49 blocks** in a round, and then misses the last block of the same round, this will lead to slashing of the entire CORE token rewards the validator has accrued so far. * If they fail on the last **50** blocks of the round, they surrender everything theyâve earned. * If a validator fails to mine **150 blocks** in a row, they surrender their share of the daily CORE token rewards, they lose **10%** of the deposit made to become a validator, and they are jailed for **three** days, which means they arenât eligible to be elected to the validator set. diff --git a/docs/Node/sync/snapshot-sync.md b/docs/Node/sync/snapshot-sync.md index 7ab0e471a3..3f7c4b8a08 100644 --- a/docs/Node/sync/snapshot-sync.md +++ b/docs/Node/sync/snapshot-sync.md @@ -6,7 +6,7 @@ sidebar_position: 2 # Syncing Core Nodes --- -On the Core network, you can sync your node to the latest state of the Core Chain by several ways. In this document, we guide you through the syncing process of nodes on the Core network. +On the Core network, you can sync your node to the latest state of the Core blockchain by several ways. In this document, we guide you through the syncing process of nodes on the Core network. ## Sync From Snapshot (Recommended) diff --git a/docs/Node/validator/overview.md b/docs/Node/validator/overview.md index 675a73230b..ac10affb4c 100644 --- a/docs/Node/validator/overview.md +++ b/docs/Node/validator/overview.md @@ -7,11 +7,11 @@ sidebar_position: 2 # Overview of Validators --- -In the Core Chain ecosystem, validators are crucial participants who maintain the integrity, security, and continuity of the blockchain. They are responsible for processing transactions, creating new blocks, and participating in the consensus process. This role is pivotal in ensuring that the Core Chain operates efficiently and remains decentralized. +In the Core ecosystem, validators are crucial participants who maintain the integrity, security, and continuity of the blockchain. They are responsible for processing transactions, creating new blocks, and participating in the consensus process. This role is pivotal in ensuring that the Core blockchain operates efficiently and remains decentralized. ## Who are Validators in the Core Network -In the Core Chain ecosystem, validators play a crucial role in maintaining the integrity and security of the blockchain by producing and validating new blocks. These validators engage in the Satoshi Plus consensus mechanism, which blends elements of Delegated Proof of Work (PoW) and Delegated Proof of Stake (DPoS). The validators are selected based on a hybrid scoring system that accounts for both the BTC and CORE tokens staked in their favor and the Bitcoin hash power delegated to them. This unique method ensures that the validator set represents a balanced mix of stakeholder interests and mining power, enhancing the network's security and decentralization. Validator elections occur in cycles known as epochs, with each new set of validators being chosen to manage the blockchain's operations and governance effectively. +In the Core ecosystem, validators play a crucial role in maintaining the integrity and security of the blockchain by producing and validating new blocks. These validators engage in the Satoshi Plus consensus mechanism, which blends elements of Delegated Proof of Work (PoW) and Delegated Proof of Stake (DPoS). The validators are selected based on a hybrid scoring system that accounts for both the BTC and CORE tokens staked in their favor and the Bitcoin hash power delegated to them. This unique method ensures that the validator set represents a balanced mix of stakeholder interests and mining power, enhancing the network's security and decentralization. Validator elections occur in cycles known as epochs, with each new set of validators being chosen to manage the blockchain's operations and governance effectively. ## Economics Validator's rewards come from @@ -51,9 +51,9 @@ In the Core ecosystem, the rewards are distributed to each validator, from that ::: ## Potential Risks and Penalties for Validators -In the Core Chain ecosystem, validators play a crucial role in maintaining the network's integrity and security. While this role comes with incentives like earning rewards for block validation, it also involves certain risks and potential penalties if validators fail to perform their duties adequately or engage in malicious activities. Hereâs a detailed overview of the potential risks and penalties for validators in the Core Chain ecosystem: +In the Core ecosystem, validators play a crucial role in maintaining the network's integrity and security. While this role comes with incentives like earning rewards for block validation, it also involves certain risks and potential penalties if validators fail to perform their duties adequately or engage in malicious activities. Hereâs a detailed overview of the potential risks and penalties for validators in the Core ecosystem: -1. **Slashing Risks:** Validators in many DPoS based systems, including Core Chain, face the risk of slashing if they act maliciously or negligently. This could involve double signing, downtime (failing to be online and perform validation duties), or any actions that compromise the network's security. Slashing involves a portion of the staked CORE tokens being destroyed or taken away, which directly impacts the validatorâs financial holdings. +1. **Slashing Risks:** Validators in many DPoS based systems, including Core, face the risk of slashing if they act maliciously or negligently. This could involve double signing, downtime (failing to be online and perform validation duties), or any actions that compromise the network's security. Slashing involves a portion of the staked CORE tokens being destroyed or taken away, which directly impacts the validatorâs financial holdings. 2. **Stake Lock-up and Liquidity Risk:** Validators must lock up a significant amount of CORE tokens as collateral to participate in the validation process. This stake is subject to lock-up periods during which the funds cannot be accessed, posing a liquidity risk, especially if the market conditions change dramatically. diff --git a/docs/Node/validator/rewards.md b/docs/Node/validator/rewards.md index ed0dd1a6f7..8383a9f8c5 100644 --- a/docs/Node/validator/rewards.md +++ b/docs/Node/validator/rewards.md @@ -4,10 +4,10 @@ hide_table_of_contents: false sidebar_position: 2 --- -# Validator Rewards in the Core Chain Ecosystem +# Validator Rewards in the Core Ecosystem --- -The Core Chain ecosystem is designed to incentivize participation and secure commitment from its community through a well-structured rewards system. This system underpins the Satoshi Plus consensus mechanism, ensuring network security, stakeholder engagement, and alignment of interests among all participants. The rewards system is fundamental in encouraging the community to partake actively in mining, staking, and governance, thereby enhancing the overall health and growth of the ecosystem. +The Core ecosystem is designed to incentivize participation and secure commitment from its community through a well-structured rewards system. This system underpins the Satoshi Plus consensus mechanism, ensuring network security, stakeholder engagement, and alignment of interests among all participants. The rewards system is fundamental in encouraging the community to partake actively in mining, staking, and governance, thereby enhancing the overall health and growth of the ecosystem. ## Validator Rewards * **Description:** Validators earn rewards for their role in processing transactions, creating new blocks, and maintaining the blockchain's integrity. These rewards are critical for compensating Validators for their efforts and operational costs. @@ -24,46 +24,46 @@ Validators are required to share rewards with the delegators who staked CORE or After the validators take their fees, the protocol uses this function to determine how the remaining rewards are split between CORE stakers, BTC stakers, and hash power delegators. Reward distribution is calculated based on the following formula: $$ - rH = \frac{rHp}{tHp} * \frac{m}{S} * R + rH = \frac{\frac{rHp}{tHp} * m} {S} * R $$ -$$ - rS = \frac{rSp}{tSp + tBp * n} * \frac{(1-m)}{S} * R +$$ + rS = \frac{\frac{rSp}{tSp} * k} {S} * R $$ $$ - rB = \frac{(rBp * n)}{(tSp + tBp * n)} * \frac{(1-m)}{S * R} + rB = \frac{\frac{rBp}{tBp} * l} {S} * R $$ Where: -* $rH$ is the rewards received by the validator because of the hash power delegated to it (DPoW) -* $rS$ is the rewards received by the validator because of the CORE delegated to it (DPoS) -* $rB$ is validator rewards attributed to BTC staking -* $R$ is the overall rewards attributed to all delegators +* $$rH$$: Rewards attributed to delegated hash power (DPoW). +* $$rS$$: Rewards attributed to CORE staking (DPoS). +* $$rB$$: Rewards attributed to BTC staking. +* $$R$$: Total rewards allocated to all delegators. +* $$m$$: Proportion of rewards allocated to hash power. +* $$k$$: Proportion of rewards allocated to CORE staking. +* $$l$$: Proportion of rewards allocated to BTC staking. +* $$S$$: Hybrid score of the validator. -For completeness, here are three other ratios of interest: +Per unit reward calculations determine the rewards distributed for each staked unit of hash power, CORE, or BTC: -$$ - rHu = \frac{rH}{rHp} -$$ - -$$ - rSu = \frac{rS}{rSp} -$$ - -$$ - rBu = \frac{rB}{rBp} -$$ +* Per unit hash power reward: $$rHu$$ = $$ \frac{rH}{rHp} $$ +* Per unit CORE reward: rSu = $$ \frac{rS}{rSp} $$ +* Per unit BTC reward: $$rBu$$ of **Pn** = $$\frac{rB}{rBp}$$ x Yield Multiplier for Leveln Where: -* $rHu$ is the validator hash power rewards per unit; -* $rSu$ is the CORE token staking rewards per unit; -* $rBu$ is the BTC staking rewards per unit; +* $$rHu$$ is the validator hash power rewards per unit; +* $$rSu$$ is the CORE token staking rewards per unit; +* $$rBu$$ of **Pn** is the BTC staking rewards per unit for delegator with PN BTC yield level +* **Yield Multipliers:** Each boosted yield level has a specific multiplier (e,f,g,h, ..., etc) that is determined by a user's staking data as well as system dual staking settings. The settings are subject to change and are configurable through governance voting. These calculations ensure proportional rewards are distributed based on individual contributions to a validatorâs delegation pool. + +These reward-splitting functions are designed to create an active market for rewards while encouraging competition amongst the validator set for both delegated hash power and delegated stake (BTC and CORE). For their part, delegators will try to optimize their own rewards by choosing validators with lower amounts of delegated hash power and stake. To maximize their rewards, delegators will look both for validators that are generous in their payouts, but also donât already have a substantial amount of delegated CORE tokens or delegated PoW. The less a given validator has staked, the greater a contribution from a delegator will be. If a delegator adds one CORE token to a validator that only has one token, theyâre 50% of that validatorâs total delegation. If they delegate to a validator with 99 CORE tokens, theyâre only 1% of that validatorâs total delegation. Since payouts are determined in part based on the percentage of total stake each delegator accounts for, theyâll be incentivized to try and find validators with small delegations. Furhtermore, BTC staking rewards are influenced by dual staking tiers, encouraging greater network participation without prescribing specific strategies. -These reward-splitting functions are designed to create an active market for rewards while encouraging competition amongst the validator set for both delegated hash power and delegated stake (BTC and CORE). For their part, delegators will try to optimize their own rewards by choosing validators with lower amounts of delegated hash power and stake. To maximize their rewards, delegators will look both for validators that are generous in their payouts, but also donât already have a substantial amount of delegated CORE tokens or delegated PoW. The less a given validator has staked, the greater a contribution from a delegator will be. If a delegator adds one CORE token to a validator that only has one token, theyâre 50% of that validatorâs total delegation. If they delegate to a validator with 99 CORE tokens, theyâre only 1% of that validatorâs total delegation. Since payouts are determined in part based on the percentage of total stake each delegator accounts for, theyâll be incentivized to try and find validators with small delegations. +## Impact of Dual Staking on BTC Rewards +With the introduction of Dual Staking, BTC staking rewards are now tiered based on the amount of CORE staked relative to BTC. BTC rewards are no longer evenly distributed across all participants. Instead, they are allocated dynamically based on dual staking thresholds, with higher tiers generally receiving a greater proportion of the rewards. This tiered structure introduces variability in BTC staking returns, aligning incentives across the Core ecosystem while maintaining proportionality in reward distribution. ## Reward Distribution Strategy -Core Chain follows the following distribution Principles: +Core follows the following distribution Principles: * **Fairness:** The rewards system is designed to be fair, ensuring that contributions, whether in the form of staking, mining, or governance participation, are equitably recognized and rewarded. * **Transparency:** All aspects of the reward distribution are transparent, allowing participants to understand how rewards are calculated and distributed. * **Security:** The distribution mechanism is secured against manipulation and abuse, using cryptographic and smart contract-based safeguards to ensure the integrity of the reward process. diff --git a/docs/Node/validator/running-validator.md b/docs/Node/validator/running-validator.md index e789998aad..793bb1e002 100644 --- a/docs/Node/validator/running-validator.md +++ b/docs/Node/validator/running-validator.md @@ -46,7 +46,7 @@ If you plan to run a validator node, you'll need to set up the consensus key bef geth account new --datadir ./node echo {your-password} > password.txt # start a validator node -geth --config ./config.toml --datadir ./node -unlock {your-validator-address} --password password.txt --mine --allow-insecure-unlock --cache 8000 +geth --config ./config.toml --datadir ./node -unlock {your-validator-address} --miner.etherbase {your-validator-address} --password password.txt --mine --allow-insecure-unlock --cache 8000 ``` 5\. As our validator node runs, we can monitor its logs to make sure that everything is operating correctly. The log file is located at `./node/logs/core.log` by default, but can be changed to another location if desired. diff --git a/docs/Node/validator/validator-election.md b/docs/Node/validator/validator-election.md index 48932294d8..5b2de249c0 100644 --- a/docs/Node/validator/validator-election.md +++ b/docs/Node/validator/validator-election.md @@ -4,12 +4,12 @@ hide_table_of_contents: false sidebar_position: 2 --- -# Validator Election Process on the Core Chain Network +# Validator Election Process on the Core Network --- ## Overview -Validators are a crucial part of the Core network. In addition to the fact that they handle transaction validation and block production, the validator election process is where all the components, i.e., DPoW, DPoS, and Non-Custodial Bitcoin Staking, of Satoshi Plus consensus come together. The Validator election process is a central feature of the Satoshi Plus consensus mechanism employed by Core Chain. This process ensures the integrity, security, and efficiency of the blockchain by electing Validators responsible for validating transactions and creating new blocks. +Validators are a crucial part of the Core network. In addition to the fact that they handle transaction validation and block production, the validator election process is where all the components, i.e., DPoW, DPoS, and Non-Custodial Bitcoin Staking, of Satoshi Plus consensus come together. The Validator election process is a central feature of the Satoshi Plus consensus mechanism employed by Core blockchain. This process ensures the integrity, security, and efficiency of the blockchain by electing Validators responsible for validating transactions and creating new blocks. ## Importance of Validator Election @@ -29,7 +29,7 @@ The Validator election process in Satoshi Plus involves key steps, supported by - CORE and BTC token holders stake and delegate their tokens to Validator candidates. This delegation is a form of voting, where the weight of each vote corresponds to the number of staked tokens. 2. **Hash Power Delegation**: - - Bitcoin miners delegate a portion of their hash power by specifying their preferred Validators in the Bitcoin blocks they mine. This process integrates Bitcoin's mining power into Core Chain's security mechanism. + - Bitcoin miners delegate a portion of their hash power by specifying their preferred Validators in the Bitcoin blocks they mine. This process integrates Bitcoin's mining power into Core's security mechanism. 3. **Validator Selection**: - Validators are selected based on the total support they receive, calculated by combining staked tokens (BTC and CORE) and delegated Bitcoin hash power. @@ -40,70 +40,68 @@ A set of Validators is formed from those with the highest scores. This set is dy 1. Hybrid scores are calculated for all validators in the network with the following equation. The hybrid score for each validator is calculated based on the following formula: $$ - S = \frac{rHp}{tHp} * m + \frac{rSp + rBp * n}{tSp + tBp * n} * (1 - m) + S = (\frac{rHp}{tHp})* m + (\frac{rSp}{tSp})*k + (\frac{rBp}{tBp})*l $$ -Where: +Where, $$ m + k + l = 1 $$ + * $$rHp$$: Bitcoin hash power delegated to a validator. + * $$tHp$$: Total hash power on Core. + * $$rSp$$: Amount of CORE tokens staked to a validator. + * $$tSp$$: Total CORE tokens staked on Core. + * $$rBp$$: Amount of BTC tokens staked to a validator. + * $$tBp$$: Total BTC tokens staked on Core. + * $$m$$: Ratio assigned to hash power. + * $$k$$: Ratio assigned to CORE staking. + * $$l$$: Ratio assigned to BTC staking. -* $rHp$ is the Bitcoin hash power delegated to a validator, measured as the total number of Bitcoin blocks with that validatorâs information written into their coinbase transactions; -* $tHp$ is the total hash power on Core Chain -* $rSp$ is the amount of CORE tokens delegated by CORE token holders to that validator -* $tSp$ is the total amount of CORE tokens stake on Core Chain -* $rBp$ is the amount of BTC tokens delegated by BTC holders to that validator -* $tBp$ is the total amount of BTC staked on Core Chain -* $m$ is a dynamic factor that controls the overall weights of hash power $(0 < m <1)$ -* $n$ is a dynamic factor that controls the voting power of each BTC vs. each CORE token. +2. At the end of each round validators are ranked in order of their hybrid score, and the *27** validators with the highest hybrid scores are selected for the validator set in the next round. -2. At the end of each round validators are ranked in order of their hybrid score, and the **23** validators with the highest hybrid scores are selected for the validator set in the next round. +Leaving aside the mathematical details, this is essentially a weighted, bicameral voting procedure. Bitcoin miners can vote for validators through their PoW (by writing validator information into the coinbase transaction on blocks theyâve already mined), CORE token holders can vote for a validator with their PoS (by delegating their tokens to it), and non-custodial bitcoin stakers can vote for a validator through the delegation of their tokens. This delegated PoW, delegated PoS, and Non-Custodial BTC Staking are weighted to determine the hybrid score. -Leaving aside the mathematical details, this is essentially a weighted, bicameral voting procedure. Bitcoin miners can vote for validators through their PoW (by writing validator information into the coinbase transaction on blocks theyâve already mined), CORE token holders can vote for a validator with their PoS (by delegating their tokens to it), and non-custodial bitcoin stakers can vote for a validator through the same mechanism. This delegated PoW and delegated PoS are weighted to determine the hybrid score. - -This is the âcoreâ of the Core blockchain, the mechanism by which the network leverages the security and decentralization of the Bitcoin network and the scalability and composability of PoS chains like Ethereum. Letting Bitcoin miners and bitcoin stakers vote on validators allows Core Chain to avail itself of Bitcoinâs legendary robustness; and because Core Chain is EVM compatible, itâs possible to build smart contracts, dApps, and other applications on Core Chain that couldnât be done without changes to the underlying Bitcoin protocol. +This is the âcoreâ of the Core blockchain, the mechanism by which the network leverages the security and decentralization of the Bitcoin network and the scalability and composability of PoS chains like Ethereum. Letting Bitcoin miners and bitcoin stakers vote on validators allows Core to avail itself of Bitcoinâs legendary robustness; and because Core is EVM compatible, itâs possible to build smart contracts, dApps, and other applications on Core that couldnât be done without changes to the underlying Bitcoin protocol. 5. **Block Production**: - - After election, all validators are sorted roughly in order of their hybrid score, and they take turns producing blocks in a **round-robin manner** before the process starts over again from the beginning. By _initially limiting the number of validators to **21**_, Satoshi Plus offers a higher transaction rate and increased scalability, but the number of validators is expected to increase to **31 validators by Q2 2025**. In Q2 2024, Core has already expanded its active validaotr set from **21** to **23**. Whatâs more, this mechanism provides additional security through improved efficiency and a tolerance for a large number of Byzantine players. Core Chain is secure as long as no more than $1 \over 3$ of the validators are malicious. + - After election, all validators are sorted roughly in order of their hybrid score, and they take turns producing blocks in a **round-robin manner** before the process starts over again from the beginning. By _initially limiting the number of validators to **21**_, Satoshi Plus offers a higher transaction rate and increased scalability, but the number of validators is expected to increase to **34 validators by Q2 2025**. In Q2 2024, Core has already expanded its active validator set from **21** to **27**. Whatâs more, this mechanism provides additional security through improved efficiency and a tolerance for a large number of Byzantine players. Core is secure as long as no more than $1 \over 3$ of the validators are malicious. 6. **Reward Distribution**: - Rewards are distributed based on contributions to network security, using the following formula: - + $$ - rH = \frac{rHp}{tHp} * \frac{m}{S} * R + rH = \frac{\frac{rHp}{tHp} * m} {S} * R $$ - $$ - rS = \frac{rSp}{tSp + tBp * n} * \frac{(1-m)}{S} * R + $$ + rS = \frac{\frac{rSp}{tSp} * k} {S} * R $$ $$ - rB = \frac{(rBp * n)}{(tSp + tBp * n)} * \frac{(1-m)}{S * R} + rB = \frac{\frac{rBp}{tBp} * l} {S} * R $$ Where: - * $rH$ is the rewards received by the validator because of the hash power delegated to it (DPoW) - * $rS$ is the rewards received by the validator because of the CORE delegated to it (DPoS) - * $rB$ is validator rewards attributed to BTC staking - * $R$ is the overall rewards attributed to all delegators + * $$rH$$: Rewards attributed to delegated hash power (DPoW). + * $$rS$$: Rewards attributed to CORE staking (DPoS). + * $$rB$$: Rewards attributed to BTC staking. + * $$R$$: Total rewards allocated to all delegators. + * $$m$$: Proportion of rewards allocated to hash power. + * $$k$$: Proportion of rewards allocated to CORE staking. + * $$l$$: Proportion of rewards allocated to BTC staking. + * $$S$$: Hybrid score of the validator. - For completeness, here are three other ratios of interest: + Per unit reward calculations determine the rewards distributed for each staked unit of hash power, CORE, or BTC: - $$ - rHu = \frac{rH}{rHp} - $$ - - $$ - rSu = \frac{rS}{rSp} - $$ - - $$ - rBu = \frac{rB}{rBp} - $$ + * Per unit hash power reward: $$rHu$$ = $$ \frac{rH}{rHp} $$ + * Per unit CORE reward: rSu = $$ \frac{rS}{rSp} $$ + * Per unit BTC reward: $$rBu$$ of **Pn** = $$\frac{rB}{rBp}$$ x Yield Multiplier for Leveln Where: - * $rHu$ is the validator hash power rewards per unit; - * $rSu$ is the CORE token staking rewards per unit; - * $rBu$ is the BTC staking rewards per unit; - - These reward-splitting functions are designed to create an active market for rewards while encouraging competition amongst the validator set for both delegated hash power and delegated stake (BTC and CORE). + * $$rHu$$ is the validator hash power rewards per unit; + * $$rSu$$ is the CORE token staking rewards per unit; + * $$rBu$$ of **Pn** is the BTC staking rewards per unit for delegator with PN BTC yield level + * **Yield Multipliers:** Each boosted yield level has a specific multiplier (e,f,g,h, ..., etc) that is determined by a user's staking data as well as system dual staking settings. The settings are subject to change and are configurable through governance voting. These calculations ensure proportional rewards are distributed based on individual contributions to a validatorâs delegation pool. + +#### Impact of Dual Staking on BTC Rewards +With the introduction of Dual Staking, BTC staking rewards are now tiered based on the amount of CORE staked relative to BTC. BTC rewards are no longer evenly distributed across all participants. Instead, they are allocated dynamically based on dual staking thresholds, with higher tiers generally receiving a greater proportion of the rewards. This tiered structure introduces variability in BTC staking returns, aligning incentives across the Core ecosystem while maintaining proportionality in reward distribution. ### Flow Diagram of the Validator Election Process diff --git a/docs/Node/validator/validator-register.md b/docs/Node/validator/validator-register.md index b33c87f509..7f071e0957 100644 --- a/docs/Node/validator/validator-register.md +++ b/docs/Node/validator/validator-register.md @@ -42,9 +42,9 @@ A quick way to check that you've successfully registered your full node as a val ## Validator Election -Each day, the top 23 validators with the highest hybrid scores are elected to the validator set, thereby becoming responsible for producing blocks on the Core network for the entirety of the round. When the last block of a round is mined, the roundâs accumulated rewards are distributed and the next round's validator set is selected. For more details about how the validator election works, refer to the[ validator election](https://whitepaper.coredao.org/core-white-paper-v1.0.7/satoshi-plus-consensus/validator-election) section of the Technical Whitepaper. +Each day, the top **27** validators with the highest hybrid scores are elected to the validator set, thereby becoming responsible for producing blocks on the Core network for the entirety of the round. When the last block of a round is mined, the roundâs accumulated rewards are distributed and the next round's validator set is selected. For more details about how the validator election works, refer to the [validator election](./validator-election.md) section. -You can check the validator status on the stake website, active elected validators will be marked as `Active/Normal`. The validator set is updated at 00:00 am UTC every day. +You can check the validator status on the stake website, active elected validators will be marked as `Active/Normal`. The validator set is updated at **00:00 am UTC** every day.  diff --git a/docs/api/api-documents/geth-proxy.md b/docs/api/api-documents/geth-proxy.md index caede04418..fdb90a3b9f 100644 --- a/docs/api/api-documents/geth-proxy.md +++ b/docs/api/api-documents/geth-proxy.md @@ -641,7 +641,7 @@ Sample Response ## eth\_sendRawTransaction -Submits a pre-signed transaction and broadcast to the Core Chain network. +Submits a pre-signed transaction and broadcast to the Core network. ```bash https://openapi.coredao.org/api diff --git a/docs/api/api-documents/statistics.md b/docs/api/api-documents/statistics.md index 366db4b53c..60c20a12bf 100644 --- a/docs/api/api-documents/statistics.md +++ b/docs/api/api-documents/statistics.md @@ -7,7 +7,7 @@ sidebar_position: 2 # Statistics -## Get Total Supply of CORE on Core Chain +## Get Total Supply of CORE on Core Returns total supply of CORE. @@ -34,9 +34,9 @@ Sample Response > **Tip :** The `result` is returned in WEI. Easily convert Core units using our [**unit converter.**](https://scan.coredao.org/unit-converter) -## Get Validators List on Core Chain +## Get Validators List on Core -Returns the top 21 validators on Core Chain. +Returns the top 21 validators on Core blockchain. ```bash https://openapi.coredao.org/api diff --git a/docs/api/tutorials/creating-an-account.md b/docs/api/tutorials/creating-an-account.md index 2c75cae644..0fe810bf71 100644 --- a/docs/api/tutorials/creating-an-account.md +++ b/docs/api/tutorials/creating-an-account.md @@ -9,7 +9,7 @@ sidebar_position: 2 Having a Core Scan account allows you to use sign-in only features and tools such as Address Watch List, Txn Private Notes, Token Ignore List and your very own API keys đ. -> Note that creating a Core Scan account is only linked to Core Scan's block explorer services, it is not the same as creating a [CORE Chain address](https://info.etherscan.com/what-is-an-ethereum-address/) đĄ +> Note that creating a Core Scan account is only linked to Core Scan's block explorer services, it is not the same as creating a [CORE blockchain address](https://info.etherscan.com/what-is-an-ethereum-address/) đĄ *** diff --git a/docs/intro.md b/docs/intro.md index 6a8a7d1ff8..a644f3b754 100644 --- a/docs/intro.md +++ b/docs/intro.md @@ -1,5 +1,5 @@ --- -title: Core DAO - Decentralized applications secured by Bitcoin +title: The Core Blockchain - Decentralized applications secured by Bitcoin sidebar_position: 1 --- @@ -7,42 +7,44 @@ sidebar_position: 1 ## đ¨âđť Getting Started -Core Chain is the first Bitcoin-aligned EVM-compatible Layer-1 blockchain, designed to be Bitcoin's complementary and hyper-scalable smart contract platform. With over **50%** of Bitcoin mining hash power and over **4,800** in count and more than **$313 Million** worth Bitcoin staked are already contributing to its security model and through the ground-breaking innovation of Non-Custodial Bitcoin staking, Core Chain is unlocking Bitcoin both as the prime protector and central asset of the future of DeFi. + +Core is a hyper-scalable smart contract platform designed to complement Bitcoin, serving as its first Proof of Stake (PoS) layer and the largest Bitcoin DeFi ecosystem. By merging Bitcoinâs unmatched security with the scalability of the innovative Satoshi Plus consensus, Core expands Bitcoinâs capabilities while preserving its core principles of decentralization and security. With approximately 75% of Bitcoin mining hash power already contributing to Coreâs security model and over 8,200 BTC staked through Non-Custodial Bitcoin Staking, Core strengthens Bitcoin's role as both the prime protector and central asset of the future of DeFi. Core's Dual Staking model further empowers Bitcoin holders to earn secure and sustainable yields by staking both BTC and CORE, all while retaining full control and ownership of their assets. +  -New to Core Chain? Let's discover **Core Chain in less than 5 minutes**. +New to Core? Let's discover **Core in less than 5 minutes**. -## đ Learn about Core Chain -Dive into what Core Chain is and start your Web3 journey with Core. - * [An overview about Core Chain](./Learn/introduction/what-is-core-chain.md) - * [Read about the core concepts of Core Chain](category/core-concepts) +## đ Learn about Core +Dive into what Core is and how to start your Web3 journey on Core + * [An Overview of Core](./Learn/introduction/what-is-core-chain.md) + * [Read About the Core Concepts](category/core-concepts) * [Understand the Underlying Architecture](./Learn/core-concepts/architecture.md) -## đ Explore the Core Chain -Get Familiar with the Core Chain Ecosystem - * [Explore Why Core Chain is the Right Choice](./Learn/introduction/why-core-chain.md) - * [Explore the Different Products by Core Chain](category/products) - * [See Whats Being Build on the Core Chain](https://coredao.org/explore/ecosystem) - -## đ Run a Node on Core Chain -Participate in the Core Chain network by running different types of Nodes - * [Run a Full Node on the Core Chain Network](./Node/Full-Node/on-mainnet.md) - * [Run a Validator Node on the Core Chain Network](./Node/config/validator-node-config.md) - * [Run a RPC Node on the Core Chain Network](./Node/config/rpc-node-config.md) - * [Run an Archive Node on the Core Chain Network](./Node/config/archive-node-config.md) - * [Run a Snapshot Node on the Core Chain Network](./Node/config/snapshot-node-config.md) - -## đ¨âđ§ Building on Core Chain -Starting building on the Core Chain and Contribute to the BTC DeFi Landscape +## đ Explore on Core +Get Familiar with the Core Ecosystem + * [Find Out Why Core is the Right Choice](./Learn/introduction/why-core-chain.md) + * [Explore Core's Products](category/products) + * [See What's Being Built on Core](https://coredao.org/explore/ecosystem) + +## đ Run a Node on Core +Participate in Core Network Security by Running Different Types of Nodes + * [Run a Full Node on the Core Network](./Node/Full-Node/on-mainnet.md) + * [Run a Validator Node on the Core Network](./Node/config/validator-node-config.md) + * [Run a RPC Node on the Core Network](./Node/config/rpc-node-config.md) + * [Run an Archive Node on the Core Network](./Node/config/archive-node-config.md) + * [Run a Snapshot Node on the Core Network](./Node/config/snapshot-node-config.md) + +## đ¨âđ§ Building on Core +Starting building on Core and Contribute to the BTCfi Landscape * [Explore the Developer Tooling Landscape](./Dev-Guide/dev-tools.md) - * [Configure your Wallets with Core Network](./Dev-Guide/core-testnet-wallet-config.md) - * [Fund your wallets with tCORE](./Dev-Guide/core-faucet.md) + * [Configure Your Wallets on the Core Network](./Dev-Guide/core-testnet-wallet-config.md) + * [Fund Your Wallets with tCORE or tCORE2](./Dev-Guide/core-faucet.md) * [Iterate through Hands-on Detailed Guides to Jumpstart your Journey on Core](category/dev-guides) - * [Build a Full-Stack dApp on Core Chain](./Dev-Guide/dapp-on-core.md) + * [Build a Full-Stack dApp on Core](./Dev-Guide/dapp-on-core.md) ## đââď¸ Help & Support -Connect with Core Team for any help or support required +Connect with Core Contributors for Support * [Official Discord Server for Help & Support](https://discord.com/invite/coredaoofficial) - * [Official Telegram Developer Channel for technical support](https://t.me/CoreDAOTelegram) \ No newline at end of file + * [Official Telegram Developer Channel for Technical Support](https://t.me/CoreDAOTelegram) diff --git a/docs/stake-and-delegate/delegating-core.md b/docs/stake-and-delegate/delegating-core.md index 701cdf1bac..3cb4fb7229 100644 --- a/docs/stake-and-delegate/delegating-core.md +++ b/docs/stake-and-delegate/delegating-core.md @@ -1,5 +1,5 @@ --- -sidebar_label: Delegating Core +sidebar_label: Delegating CORE hide_table_of_contents: false sidebar_position: 2 --- @@ -7,48 +7,134 @@ sidebar_position: 2 # Delegating CORE --- -By delegating CORE to Validators, CORE holders can help secure the network and share in system rewards. +Delegated Proof of Stake (DPoS) is one of the three fundamental components of the Satoshi Plus consensus mechanism, playing a pivotal role in enhancing the functionality, security, and efficiency of the blockchain network. In the Core network, DPoS is implemented through CORE delegations, allowing CORE holders to delegate their tokens to trusted validators. This process not only helps secure the network but also enables participants to share in the systemâs rewards. +In this guide, we provide a step-by-step walkthrough on how to delegate your CORE tokens to validators within the Core network, empowering you to actively contribute to the ecosystem while reaping the benefits of your investment. -## Validator Selection +## Core Staking Website -Delegators can use Core's staking website to manage their positions: + * Mainnet: [https://stake.coredao.org/](https://stake.coredao.org/) + * Testnet: [https://stake.test.btcs.network/](https://stake.test.btcs.network/) -| Mainnet | Testnet | -| ---------------------------------------------------- | ---------------------------------------------------------- | -| [Mainnet staking website](https://stake.coredao.org) | [Testnet staking website](https://stake.test.btcs.network) | +## Step-by-Step Guidelines for Delegating CORE -Validator information is listed on the staking site, with all validators ranked by their current hybrid score, as shown below. Explanations for key terms are available for each column header on the staking site, viewable by clicking on the `i` symbol next to the column header. +#### Step 1: Navigating to Core Staking Website +When you visit stake.coredao.org, youâll see an overview of important metrics related to Core delegation. These metrics provide a snapshot of the staking opportunities available on Core, and are updated in real-time based on the user participation. It also lists Validator information, with all validators ranked by their current hybrid score. - ++ +
-At the start of each round, Satoshi Plus consensus selects the Validators by their hybrid scores. The nodes are ranked in descending order of this score, with the top **23** nodes selected to form the active Validator set for the current round. Hybrid scores are calculated using the following formula: +#### Step 1.1: Connect Your Wallet +To start staking, follow these steps to connect your wallet. Ensure you have CORE tokens in your wallet to participate in staking. + * Click on the **Connect Wallet** button located at the top-right corner of the page. + * Choose your preferred wallet (e.g., MetaMask, WalletConnect) from the available options. + * Follow the on-screen prompts to complete the connection process securely. + * Once connected, your wallet balance and details will be visible, and you can begin delegating CORE tokens. -`S = hash_percentage * m + coin_percentage * (1 - m)` ++ +
-Where, -`coin_percentage` accounts for the ratio of both the **CORE** and **BTC** staking tokens -`m` is a dynamic weighting factor initially set to **2/3** +#### Step 1.2: Choosing a Validator -Validator information is refreshed daily at **00:00 UTC** at the beginning of each round. +On the staking site, each validator is ranked by their Hybrid Score, which reflects a combination of factors such as performance and delegated hash power. To maximize your staking rewards, focus on the following two key metrics: -## Delegation + * **CORE Reward Rate:** This shows the percentage of CORE rewards you can earn by delegating to a particular validator. A higher reward rate means more potential returns on your staked CORE. + * **Commission:** This is the fee that validators take from your staking rewards. A lower commission allows you to keep more of your earned rewards, so it's important to choose a validator with a low commission to maximize your returns. -Selecting the name of a Validator will open up a validator page with more information about them, as shown below. +By choosing a validator with a high CORE reward rate and low commission, you can increase the amount of rewards you receive from staking your CORE tokens. You can view more details about each validatorâs metrics by clicking the "i" symbol next to the column headers for explanations. For more information on how the hybrid score is calculated, refer [here](https://docs.coredao.org/docs/Learn/core-concepts/satoshi-plus-consensus/validator-election#workflow-of-the-validator-election-process). - +Validator information is refreshed daily at 00:00 UTC at the beginning of each new round, ensuring you always have the latest data when making your staking decisions. -To delegate to the Validator, select the **DelegateâDelegateCoin** button on the top left. Enter the deposit amount in the input field and select 'Delegate' to send your delegation transaction, as shown below. To execute the transaction, you'll need to sign and send it using MetaMask or another compatible web wallet. +In the example, we are selecting: **DAO Validator 6**. To choose a validator, click on the Validator's name to proceed - ++ +
-After successfully delegating to a Validator, you can find your total delegated amount under the **Coin** tab, with your historical delegation transactions listed under the **CoinRecord** tab. You are able to delegate to more than one Validator. +### Step 2: Delegating CORE to a Validator +Once youâve selected a validator, youâll be taken to their detailed page, as shown below. Hereâs what youâre seeing: + * **Delegated Coin (CORE):** The total amount of CORE tokens already delegated to the selected validator (e.g., 6,678,941 CORE). + * **CORE Reward Rate:** The annual percentage of rewards for delegating to the selected validator. For example, if he CORE reward rate is 9.41%, it means the delegator will earn this percentage in rewards on their staked CORE. + * **Commission:** The validatorâs commission fee, which is deducted from your rewards, example 5%. + * **Delegators:** The number of users who have delegated to the selected validator (e.g., 16,234 CORE Delegators). + +To delegate your CORE tokens, follow these steps: + 1. **Click "Delegate":** At the top right of the screen, youâll see the Delegate button (marked as 1 in the image). Hover over it. + 2. **Select CORE:** A drop-down will appear with the option to delegate CORE or BTC. Select CORE (marked as 2 in the image). -To undelegate your CORE, simply select the **UndelegateâUndelegateCoin** button and sign the transaction. ++ +
+ +#### Step 2.1 Specify amount of CORE to delegate +* After selecting CORE, youâll be prompted to enter the amount of CORE you want to delegate. Review the validatorâs commission, then click **Confirm Delegation**. + ++ +
+ +* Also confirm the transaction in your Metamask. + ++ +
+ +* Once your transaction is confirmed and succesfully completed, you can see that 1 CORE has been successfully delegated to DAO Validator 6. + ++ +
+ +#### Step 2.2 Verifying delegated CORE + +Now that weâve successfully delegated CORE, lets verify that our CORE is now being staked by hovering over our connected wallet in the top right corner, and clicking on the **My Staking** dropdown. We can see under the âCore Delegatedâ column that we now have 1 CORE delegated, or 1 CORE staked: + ++ +
+ +### Step 3 Undelegating CORE + +If we want to Undelegate our CORE, you will want to click the 3 dots at the end of your chosen validator, and click **Undelegate CORE**. + ++ +
+ +#### Step 3.1 Confirm the transaction, and verify undelegated CORE + +* After clicking Undelegate, you will be prompted to confirm the transaction in your Metamask. Click the **Confirm** button: + ++ +
+ +* Once the transaction is confirmed and sucessfuly executed, you will see the following success prompt. + ++ +
+ +* If you return to **My Staking**, you should now see your CORE Delegated displaying 0. + ++ +
+ +* Clicking the **Transaction Records** button allows us to view the **Staking Records**, and the delegation events that have occurred under the **CORE Records** tab. + ++ +
## Claiming Rewards +You can view reward information about your active delegations by selecting **My Staking** on the top right corner in teh header of the staking website. Delegation (staking) rewards are distributed after each round at 00:00 am UTC every day. + +To claim your rewards, simply select the Claim button on the top left and sign the transaction. After sending the transaction, you will receive the rewards to your linked address. Historical claim transactions are listed on the website's Claim tab, as shown below. -You can view reward information about your active delegations by selecting **My Staking** on the top right of the staking website. Delegation (staking) rewards are distributed after each round at 00:00 am UTC every day. ++ +
-To claim your rewards, simply select the **Claim** button on the top left and sign the transaction. After sending the transaction, you will receive the rewards to your linked address. Historical claim transactions are listed on the website's **Claim** tab, as shown below. - diff --git a/docs/stake-and-delegate/delegating-hash.md b/docs/stake-and-delegate/delegating-hash.md index 1c520aeaba..e6ad5629c4 100644 --- a/docs/stake-and-delegate/delegating-hash.md +++ b/docs/stake-and-delegate/delegating-hash.md @@ -1,5 +1,5 @@ --- -sidebar_label: Delegating Hash +sidebar_label: Delegating Hash-Rate hide_table_of_contents: false sidebar_position: 2 --- diff --git a/docs/stake-and-delegate/delegators.md b/docs/stake-and-delegate/delegators.md index 30e6a5616c..544e615859 100644 --- a/docs/stake-and-delegate/delegators.md +++ b/docs/stake-and-delegate/delegators.md @@ -4,39 +4,41 @@ hide_table_of_contents: false sidebar_position: 2 --- -# Delegations in the Core Chain Ecosystem +# Delegations in the Core Ecosystem --- ## Overview of Delegation -In the context of the Core Chain, delegation is a fundamental mechanism that allows BTC miners and BTC and CORE token holders to participate actively in the network's security and governance without being validators themselves. This process involves the delegators entrusting their voting and operational power to validators, who then use the delegated resources (BTC hash power, BTC, and CORE) to participate in the network's consensus process and governance decisions. +In the context of the Core blockchain, delegation is a fundamental mechanism that allows BTC miners and BTC and CORE token holders to participate actively in the network's security and governance without being validators themselves. This process involves the delegators entrusting their voting and operational power to validators, who then use the delegated resources (BTC hash power, BTC, and CORE) to participate in the network's consensus process and governance decisions. -## Types of Delegation on the Core Chain +## Types of Delegation on the Core Blockchain 1. **BTC/CORE Delegation to Validators:** * **Purpose:** This type of delegation allows BTC and CORE token holders to support specific validators by delegating their tokens to them. In return, validators use the aggregated power to secure the network, validate transactions, and produce blocks. * **Benefits:** Delegators share in the rewards earned by their chosen validators, receiving a portion of the transaction fees and block rewards in proportion to their stake. + * **How to Delegate BTC:** Core allows BTC holders to delegate their assets to validators on Core through the Non-Custodial BTC Staking, which allows that to not only earn staking rewards but also maintian comlete ownership of their assets. For more details, refer to the detailed guide on [how to delegate BTC on Core](../Learn/products/btc-staking/stake-btc-guide.md). + * **How to Delegate CORE:** Core allows CORE holders to delegate their assets to validators on Core through a simple delegation mechanism, this allows them to participate in the Core netowrk's security and governance. For more details, refer to the detailed guide on [how to delegate CORE](./delegating-core.md). 2. **Hash Power Delegation from BTC Miners:** - * **Purpose:** Bitcoin miners can delegate a portion of their computational hash power to validators on the Core network. This unique form of delegation leverages the security and work already being done on the Bitcoin network to enhance the security of the Core Chain. - * **Process:** Miners include specific metadata in the Bitcoin blocks they mine, indicating their support for a Core Chain validator, thereby linking the security of both networks. + * **Purpose:** Bitcoin miners can delegate a portion of their computational hash power to validators on the Core network. This unique form of delegation leverages the security and work already being done on the Bitcoin network to enhance the security of the Core. + * **Process:** Miners include specific metadata in the Bitcoin blocks they mine, indicating their support for a Core validator, thereby linking the security of both networks. + * **How to Delegate Hash:** Core provides the BTC miners to delegate their hashpower to validators on Core, enabling them to earn staking rewards from the Core ecossytem in the form of additioanl CORE tokens. For more details, refer to the detailed guide on [how to delegate Hash Poweer to Core Validators](./delegating-hash.md). +## Importance of Delegations on the Core Blockchain -## Importance of Delegations on the Core Chain +1. **Enhanced Network Security:** By allowing a broad base of token holders to delegate their assets (BTC and CORE) to validators, Core ensures that the responsibility and power of maintaining the network are distributed among many participants, thereby avoiding centralization and increasing security. -1. **Enhanced Network Security:** By allowing a broad base of token holders to delegate their assets (BTC and CORE) to validators, Core Chain ensures that the responsibility and power of maintaining the network are distributed among many participants, thereby avoiding centralization and increasing security. - -2. **Democratization of the Network:** Delegation democratizes access to the decision-making processes within Core Chain, allowing anyone holding BTC or CORE tokens, regardless of the amount, to participate in governance and consensus. This inclusive approach fosters a diverse and robust governance structure. +2. **Democratization of the Network:** Delegation democratizes access to the decision-making processes within Core, allowing anyone holding BTC or CORE tokens, regardless of the amount, to participate in governance and consensus. This inclusive approach fosters a diverse and robust governance structure. 3. **Incentivization and Participation:** Delegation incentivizes both validators and BTC/CORE token holders by aligning their interests. Validators are motivated to act in the best interest of the network to maintain their reputation and continue receiving delegated tokens, while delegators benefit from the rewards generated by their validators' activities. -4. **Scalability of Consensus Process:** Delegation allows the network to handle more transactions and accommodate more participants without requiring each to run full nodes. This scalability is crucial for maintaining high performance as the Core Chain ecosystem grows. +4. **Scalability of Consensus Process:** Delegation allows the network to handle more transactions and accommodate more participants without requiring each to run full nodes. This scalability is crucial for maintaining high performance as the Core ecosystem grows. 5. **Facilitates Staking Flexibility:** Delegation provides token holders with the flexibility to contribute to network security without the need to maintain the infrastructure required for running a full validating node, lowering the barrier for participation. -6. **Facilitation of Liquid Democracy:** Delegation in Core Chain facilitates a form of liquid democracy, where token holders can directly choose their representatives (validators) in the consensus process or can change their delegation based on performance and trust metrics. This fluid governance model adapts quickly to changes and reflects the current sentiment of the community. +6. **Facilitation of Liquid Democracy:** Delegation in Core facilitates a form of liquid democracy, where token holders can directly choose their representatives (validators) in the consensus process or can change their delegation based on performance and trust metrics. This fluid governance model adapts quickly to changes and reflects the current sentiment of the community. ## Conclusion -Delegation is one of the key fundamentals of the Core Chain ecosystem, enabling it to maintain a secure, decentralized, and efficient blockchain network. By leveraging the strengths of both DPoS and elements of PoW through the innovative Satoshi Plus consensus mechanism, Core Chain not only enhances its operational capabilities but also aligns closely with the decentralized ethos of blockchain technology. This model of delegation ensures that all participants, from individual token holders to large-scale miners, have a stake in the networkâs success and governance, making Core Chain a robust and dynamic blockchain platform. \ No newline at end of file +Delegation is one of the key fundamentals of the Core ecosystem, enabling it to maintain a secure, decentralized, and efficient blockchain network. By leveraging the strengths of both DPoS and elements of PoW through the innovative Satoshi Plus consensus mechanism, Core not only enhances its operational capabilities but also aligns closely with the decentralized ethos of blockchain technology. This model of delegation ensures that all participants, from individual token holders to large-scale miners, have a stake in the networkâs success and governance, making Core a robust and dynamic blockchain platform. \ No newline at end of file diff --git a/docs/stake-and-delegate/dual-staking.md b/docs/stake-and-delegate/dual-staking.md new file mode 100644 index 0000000000..41a7db6d39 --- /dev/null +++ b/docs/stake-and-delegate/dual-staking.md @@ -0,0 +1,128 @@ +--- +sidebar_label: Dual Staking +hide_table_of_contents: false +sidebar_position: 2 +--- + +# Dual Staking - Unlock Higher APY for BTC Staking +--- + +## Introduction + +[Non-Custodial Bitcoin Staking](https://docs.coredao.org/docs/Learn/products/btc-staking/overview) was integrated into the Core blockchain in April 2024, allowing users to stake Bitcoin and earn yield while retaining complete control over their assets. This implementation provides a native mechanism for generating Bitcoin yield without introducing additional trust assumptions. + +To further enhance yield generation from Non-Custodial Bitcoin staking at scale, **Dual Staking** unlocks higher yield tiers by staking Bitcoin and CORE simultaneously. Since daily CORE emissions are fixed, those who stake CORE alongside Bitcoin earn higher reward tiers than those staking Bitcoin alone. The percentage of boost on yield is determined by staking CORE above multiple defined thresholds, with each threshold corresponding to increasing tiers of Bitcoin staking rewards. By linking higher Bitcoin staking rewards with the volume of CORE tokens staked, this approach encourages Bitcoin stakers to make a deeper commitment to the Core ecosystem. It maximizes the yield returns for committed users. + +## How does Dual Staking Work? + +Dual Staking does not alter the staking process for Bitcoin and CORE. For more information on how Non-Custodial Bitcoin Staking works, refer [here](https://docs.coredao.org/docs/Learn/products/btc-staking/overview). Also, consult this detailed [guidebook](https://docs.coredao.org/docs/stake-and-delegate/delegating-core) on delegating CORE and [staking](https://docs.coredao.org/docs/Learn/products/btc-staking/stake-btc-guide)/[redeeming](https://docs.coredao.org/docs/Learn/products/btc-staking/Redeeming-Guide) BTC. + +Dual Staking creates an opportunity to unlock higher yields when both Bitcoin and CORE are staked simultaneously, with varying CORE staking thresholds corresponding to different yield boost levels on Bitcoin staking rewards on the Core blockchain. + +Bitcoin holders can [stake their Bitcoin](https://docs.coredao.org/docs/Learn/products/btc-staking/stake-btc-guide) through Core's Non-Custodial Bitcoin Staking to accumulate CORE rewards. By subsequently [staking their CORE](https://docs.coredao.org/docs/stake-and-delegate/delegating-core) tokens at different Dual Staking thresholds, users unlock higher tiers of Bitcoin yields, paid in CORE. While Dual Staking enhances Bitcoin staking rewards, it does not impact the yield generated by CORE staking itself. + +To enable higher yields for Bitcoin staking through Dual Staking, users must meet the following requirements: + +1. Stake both CORE and Bitcoin simultaneously, ensuring that the amount of CORE staked exceeds the minimum dual staking threshold **AND** +2. The CORE staking wallet address ***must*** match the designated CORE rewards address for Bitcoin staking to which the yield is paid. + + +### Boosted Yield Thresholds + +Currently, Satoshi Plus rewards are allocated via three pools, one for each of the three entities participating in the election of Core validators, namely (1) Hash Power Delegators, (2) Bitcoin Stakers, and (3) CORE Stakers. + +Dual Staking does not affect these reward pools, but does enable Bitcoin stakers who also stake CORE tokens to earn a higher proportion of rewards in the Bitcoin Staking pool. In this section, we cover in detail the working of the grading algorithm with respect to dual staking. + +1. **Boosted Yield Levels** +Under Dual Staking, there are 3 boosted yield tiers for Bitcoin Staking based on the proportion of CORE staked relative to Bitcoin staked. For Solo-Stakers of only Bitcoin, a fourth tier exists with the lowest Bitcoin staking rate. It is important to note that the annual reward rate for Bitcoin Staking can fluctuate significantly, often due to varying prices and other market dynamics. As a result, the actual boosted yields may change daily based on market conditions. + + * **PBASE** \= the BTC staking base rate + * **PLevel1** \= the BTC staking base rate \+ Level 1 boosted yield + * **PLevel2** \= the BTC staking base rate \+ Level 2 boosted yield + * **PLevel3 (PMAX)** \= the BTC staking base rate \+ Level 3 boosted yield + +Effectively, the CORE emissions are distributed pro rata based on the BTC TVL, weighted based on their dual staking tier (CORE:BTC). + +2. **Staked CORE Thresholds and Staking Ratios (R1, R2, R3)** +The deciding mechanism for a Bitcoin stakerâs yield tier (**PBASE**, **PLevel1**, **PLevel2**, or **PLevel3 (PMAX)**) is based on CORE tokens staked relative to Bitcoin staked, where **R** represents the `CORE:BTC` Ration and **R3 \> R2 \> R1**. The current CORE:BTC staking ratios are as follows: + + * Staking Ratio R1 \= 1,000 CORE per 1 BTC + * Staking Ratio R2 \= 3,000 CORE per 1 BTC + * Staking Ratio R3 \= 8,000 CORE per 1 BTC + +Keeping these ratios in mind, users can calculate the required threshold for each tier as follows: + + * **Staked CORE Threshold for PLevel1** \= BTC staked quantity \* Staking Ratio (**R1**) + * **Staked CORE Threshold for PLevel2** \= BTC staked quantity \* Staking Ratio (**R2**) + * **Staked CORE Threshold for PLevel3 (PMAX)** \= BTC staked quantity \* Staking Ratio (**R3**) + +:::note +The staked CORE and/or staked Bitcoin can be distributed across multiple active Core validators. +::: + +3. **Boosted yield level determination for each (1) staked Bitcoin** + * If staked CORE amount \< **R1**, the user is in tier **PBASE** + * If **R1** \=\< staked CORE amount \< **R2**, the user enters tier **PLevel1** + * If **R2** \=\< staked CORE amount \< **R3**, the user enters tier **PLevel2** + * If staked CORE amount \>= **R3**, the user enters tier **PLevel3** (**PMAX**) + +:::note +Staking ratios and the number of levels are configurable and subject to change by governance vote. +::: + +### Example + +The following is a simple example explaining how to calculate the required CORE to stake, based on the above mentioned parameters, to unlock boosted yield tiers for Dual Staking. + +Now, the user will have to stake CORE as per the following Staked CORE Thresholds to enjoy a higher yield on their staked BTC with the above variables: +* Staking Ratio **R1** \= 1,000 +* Staking Ratio **R2** \= 3,000 +* Staking Ratio **R3** \= 8,000 +* Staked BTC quantity \= 10 BTC + +The **Staked CORE Thresholds** with the above variables are: +* Staked CORE Threshold for **PLevel1** \= 10 \* 1,000 \= 10,000 staked CORE +* Staked CORE Threshold for **PLevel2** \= 10 \* 3,000 \= 30,000 staked CORE +* Staked CORE Threshold for **PLevel3** \= 10 \* 8,000 \= 80,000 staked CORE + +Hence, the staked BTC in this example will enjoy a yield of +* **PBASE** if the amount of staked CORE is below 10,000 +* **PLevel1** if the amount of staked CORE is above or equal to 10,000 but below 30,000 +* **PLevel2** if the amount of staked CORE is above or equal to 30,000 but below 80,000 +* **PLevel3 (PMAX)** if the amount of staked CORE is above or equal to 80,000 + +:::note +The multiplier on each boosted yield tier is dynamic and subject to change as per the supply and demand conditions of the market +::: + +:::info +For your new dual staking tier to take effect, you may need to follow two steps. This applies to users who already have BTC staked in earlier rounds at 00:00 am UTC and decide to stake additional CORE to move up tiers. First, after staking CORE, wait until the next 00:00 UTC. Then, claim all your rewards anytime after 00:00 UTC to reset the tier calculation system. Your new tier will activate as soon as you complete the claim. Both steps are essential to ensure your new tier takes effect. +::: + +## What Changes with Dual Staking? + +From the perspective of how staking is performed, nothing fundamentally changes with Dual Staking. Users can still stake Bitcoin and CORE independently; however, by staking both Bitcoin and CORE simultaneously, they unlock the potential for higher returns on Bitcoin staking. Staking both assets is not mandatory but an optional enhancement for Bitcoin holders seeking to maximize their yield. Think of this as a reward boost, where Bitcoin stakers will receive enhanced rewards as they increase the amount of CORE staked. + +Dual Staking strengthens the relationship between Bitcoin and the Core blockchains, aligning incentives and value across both ecosystems. It offers increased rewards for those who actively participate in both staking options without introducing any new requirements or complexities to the staking process. + +## Key Features of Dual Staking + +1. **Increased Rewards Through CORE Staking**: Bitcoin stakers can now stake CORE tokens alongside Bitcoin to unlock higher Bitcoin staking yields. To earn these enhanced staking rates, Bitcoin stakers are required to stake CORE above a certain threshold. + +2. **Cumulative Reward Boost**: Once Dual Staking is adopted, Bitcoin stakers will receive higher rates as they increase the amount of CORE staked. This means stakers can maximize their returns by staking more CORE. + +3. **Risk-Free and Non-Custodial Staking**: Coreâs Non-Custodial Bitcoin Staking enables users to maintain complete ownership of their assets throughout the staking process. Bitcoin remains securely in the userâs wallet and is unlocked when their chosen lock period expires. No external entity ever gains custody of the stakerâs Bitcoin. Meanwhile, in exchange for stakers locking up their Bitcoin, they can delegate to Core validators that secure CORE and earn rewards. This setup eliminates custodial risk and enhances security, as stakers participate in Coreâs security without putting their Bitcoin at risk. + +## Who Can Benefit from Dual Staking? + +Dual staking is designed for everyone, from individuals to the largest financial institutions, who want to earn higher Bitcoin staking rates. In addition to Bitcoin holders, Bitcoin miners can also leverage Dual Staking to optimize their earnings. + +Bitcoin Miners can earn CORE rewards by delegating their hash power to validators on the Core network and staking their Bitcoin and CORE tokens. They can unlock higher yields on their Bitcoin treasuries by staking CORE tokens over the minimum dual staking threshold. Integrating mining rewards with the Dual Staking mechanism allows miners to maximize returns on mining and staking activities. + +:::info +Please refer to the [Dual Staking FAQ section](../FAQs/dual-staking-faqs.md) for further questions or clarifications. For additional support, you may direct your queries to the [Core Dev Forum](http://forum.coredao.org) or [Core Discord Server](https://discord.gg/M2AGJKSG). +::: + +## Conclusion + +Dual Staking is a mechanism for providing sustainable Bitcoin staking rates at scale on Core. Further establishing Core as the leading end-to-end BTCfi platform, the CORE token is becoming the key to unlocking sustainable yield for Bitcoin. diff --git a/docs/stake-and-delegate/staking-overview.md b/docs/stake-and-delegate/staking-overview.md index f2fea68123..5670610739 100644 --- a/docs/stake-and-delegate/staking-overview.md +++ b/docs/stake-and-delegate/staking-overview.md @@ -4,13 +4,13 @@ hide_table_of_contents: false sidebar_position: 2 --- -# Overview of Staking in Core Chain +# Overview of Staking on Core --- -Staking is a fundamental aspect of the Core Chain, serving as a key mechanism for network security, governance, and tokenomics. By staking their BTC or CORE tokens, participants contribute to the operational efficiency and security of the blockchain, while earning rewards for their commitment. This process involves locking up BTC or CORE tokens to support the validation of transactions and the maintenance of the network's integrity. The most bonded validator candidates of staking will become validators and produce blocks. +Staking is a fundamental aspect of the Core blockchain, serving as a key mechanism for network security, governance, and tokenomics. By staking their BTC or CORE tokens, participants contribute to the operational efficiency and security of the blockchain, while earning rewards for their commitment. This process involves locking up BTC or CORE tokens to support the validation of transactions and the maintenance of the network's integrity. The most bonded validator candidates of staking will become validators and produce blocks. -## How Staking Works on the Core Chain -Staking in Core Chain involves CORE and BTC holders delegating their tokens to validators, who are responsible for processing transactions and creating new blocks. The staking mechanism is built on a Delegated Proof of Stake (DPoS) model, where stakeholders influence the networkâs consensus by selecting validators based on their staked tokens. +## How Staking Works on the Core Blockchain +Staking on Core involves CORE and BTC holders delegating their tokens to validators, who are responsible for processing transactions and creating new blocks. The staking mechanism is built on a Delegated Proof of Stake (DPoS) model, where stakeholders influence the networkâs consensus by selecting validators based on their staked tokens. - **Validator Selection:** BTC and CORE holders can choose validators they trust and delegate their respective tokens to these validators. The weight of a validator in the consensus process is directly proportional to the amount of BTC and CORE staked with them. - **Staking Rewards:** Validators and their delegators, both CORE and BTC stakers, earn rewards based on their contribution to network security. These rewards are derived from transaction fees and new blocks created during the consensus process. @@ -18,10 +18,10 @@ Staking in Core Chain involves CORE and BTC holders delegating their tokens to v ## Staking Economics * Core blockchain allows staking of two tokens, namely, its native token i.e. CORE and the bitcoin. BTC holders can stake their assets through the non-custodial staking fearture of Core that allows BTC holders to stake and delegate their assets without having to give up custody of them. * The CORE validator set is determined by its staking and delegation logic, via a staking module. -* Cycle time for Core to distribute rewards currently set to **1 day**. Each day, **23** validators with the highest hybrid scores are elected to the validator set, thereby becoming responsible for producing blocks on the Core network for the entirety of the round. At the last block of each round, the accumulated rewards for the round are calculated and distributed. +* Cycle time for Core to distribute rewards currently set to **1 day**. Each day, **27** validators with the highest hybrid scores are elected to the validator set, thereby becoming responsible for producing blocks on the Core network for the entirety of the round. At the last block of each round, the accumulated rewards for the round are calculated and distributed. -## Importance of Staking in Core Chain -Staking is crucial for several reasons in the Core Chain ecosystem: +## Importance of Staking for Core Ecosystem +Staking is crucial for several reasons in the Core ecosystem: - **Network Security:** Staking BTC and CORE tokens to support validators directly contributes to the robustness of the networkâs security. Validators with a higher stake are deemed more trustworthy, as more at stake disincentivizes malicious behavior. - **Decentralized Governance:** Staking empowers CORE holders with governance rights, allowing them to participate in important decisions that affect the network, including protocol updates and improvements. @@ -29,11 +29,11 @@ Staking is crucial for several reasons in the Core Chain ecosystem: - **Reduced Volatility:** By locking tokens into staking contracts, the circulating supply of CORE tokens is effectively reduced, which can help mitigate price volatility and maintain the tokenâs value. ## Staking Dynamics and Strategies -Participants in Core Chain network can adopt various staking strategies to maximize their returns and influence on the network: +Participants in the Core network can adopt various staking strategies to maximize their returns and influence on the network: - **Long-term Staking:** Committing their assets, BTC or CORE, for longer durations typically yields higher rewards, as it provides more stability to the network. - **Validator Performance:** Choosing high-performing validators is crucial, as rewards are partly based on the validator's effectiveness in managing the network and creating blocks. - **Risk Management:** Diversifying the delegation across multiple validators can help mitigate risks associated with the potential underperformance or failure of a single validator. ## Conclusion -Staking is a critical component of the Core Chain ecosystem, offering a compelling blend of rewards, governance participation, and enhanced network security. By engaging in staking, BTC and CORE token holders not only help secure the network and drive its governance but also stand to gain from the economic activities generated within the blockchain. As Core Chain continues to evolve, staking remains a pivotal activity, underscoring the decentralized and participant-driven nature of the blockchain. \ No newline at end of file +Staking is a critical component of the Core ecosystem, offering a compelling blend of rewards, governance participation, and enhanced network security. By engaging in staking, BTC and CORE token holders not only help secure the network and drive its governance but also stand to gain from the economic activities generated within the blockchain. As Core continues to evolve, staking remains a pivotal activity, underscoring the decentralized and participant-driven nature of the blockchain. \ No newline at end of file diff --git a/docusaurus.config.js b/docusaurus.config.js index 03937b9de6..0e97d77b6e 100644 --- a/docusaurus.config.js +++ b/docusaurus.config.js @@ -51,7 +51,7 @@ const config = { { googleTagManager: { - containerId: 'GTM-WXHGVVKB', + containerId: 'G-F20V7Q57RZ', }, docs: { @@ -92,6 +92,15 @@ const config = { disableSwitch: false, respectPrefersColorScheme: false, }, + + announcementBar: { + id: 'latest_updates', + content: + 'â ď¸ LstBTC Launching Soon! coreBTC is sunsetting â redeem your assets at the earliest. â ď¸', + backgroundColor: '#f96e34', + textColor: '#FBFCFC', + isCloseable: false, + }, algolia: { // The application ID provided by Algolia diff --git a/sidebars.js b/sidebars.js index 7b4a5e6df5..c7b0e1594a 100644 --- a/sidebars.js +++ b/sidebars.js @@ -17,7 +17,7 @@ const sidebars = { learnSidebar: [ { type: 'category', - label: 'đ All About Core Chain', + label: 'đ All About Core', link: {type: 'doc', id: 'intro'}, items:[ { @@ -41,7 +41,7 @@ const sidebars = { link: { type: 'generated-index', title: 'Core Concepts', - description: 'Learn about the Nuts and Bolts of the Core Chain Ecossytem!', + description: 'Learn about the Nuts and Bolts of the Core Ecossytem!', slug: '/category/core-concepts', }, items: ['Learn/core-concepts/overview', 'Learn/core-concepts/architecture', @@ -66,25 +66,24 @@ const sidebars = { label: 'Products', link: { type: 'generated-index', - title: 'Exploring Core Chain: Pioneering DeFi Solutions for Bitcoin', - description: 'Learn about the different innovative products offered by Core Chain that are helping in unclocking the DeFi landscape for Bitcoin!', + title: 'Exploring Core: Pioneering DeFi Solutions for Bitcoin', + description: 'Learn about the different innovative products offered by Core that are helping in unclocking the DeFi landscape for Bitcoin!', slug: '/category/products', }, items: [ { type: 'category', collapsed: true, - label: 'Non-Custodial BTC Staking', + label: 'stCORE', items: [ - 'Learn/products/btc-staking/overview', - 'Learn/products/btc-staking/design', + 'Learn/products/stCore/overview', + 'Learn/products/stCore/design', { type: 'category', collapsed: true, label: 'How To Guides', items: [ - 'Learn/products/btc-staking/stake-btc-guide', - 'Learn/products/btc-staking/Redeeming-Guide', + 'Learn/products/stCore/stCore-on-Core', ] }, @@ -93,31 +92,13 @@ const sidebars = { { type: 'category', collapsed: true, - label: 'coreBTC', + label: 'coreBTC (Sunsetted)', items: [ 'Learn/products/coreBTC/overview', 'Learn/products/coreBTC/design', 'Learn/products/coreBTC/how-to-guides', ] }, - { - type: 'category', - collapsed: true, - label: 'stCORE', - items: [ - 'Learn/products/stCore/overview', - 'Learn/products/stCore/design', - { - type: 'category', - collapsed: true, - label: 'How To Guides', - items: [ - 'Learn/products/stCore/stCore-on-Core', - ] - }, - - ] - }, ] }, { @@ -129,6 +110,16 @@ const sidebars = { ] }, 'Learn/governance', + + { + type: 'category', + collapsed: true, + label: 'Core Ignition', + items: [ + 'CoreIgnition/Overview', + 'CoreIgnition/Mechanics', + ] + }, {type: 'doc', id: 'Learn/audit', label:'Audit'}, ] @@ -138,7 +129,7 @@ const sidebars = { { type: 'category', collapsed: true, - label: 'đť Core Chain for Developers', + label: 'đť Core for Developers', items: [ { type: 'category', @@ -169,8 +160,8 @@ const sidebars = { label: 'Developer Guides', link: { type: 'generated-index', - title: 'Developer Guides: Mastering Core Chain Essentials', - description: 'Unlock Your Potential: Detailed Developer Guides for Building on Core Chain', + title: 'Developer Guides: Mastering Core Essentials', + description: 'Unlock Your Potential: Detailed Developer Guides to Build on Core', slug: '/category/dev-guides', }, items: [ @@ -179,7 +170,13 @@ const sidebars = { 'Dev-Guide/contract-verify', 'Dev-Guide/erc20-tokens', 'Dev-Guide/erc721-tokens', - 'Dev-Guide/dapp-on-core',] + 'Dev-Guide/dapp-on-core', + { + type: 'link', + label: 'Switchboard VRF', // The link label + href: 'https://docs.switchboard.xyz/docs/switchboard/switchboard-randomness/on-evm-networks', // The external URL + }, + ] }, { type: 'category', @@ -201,9 +198,12 @@ const sidebars = { items: ['FAQs/core-faqs', 'FAQs/core-node-faqs', 'FAQs/validator-faqs', 'FAQs/delegator-faqs', 'FAQs/coreBTC-faqs', 'FAQs/btc-staking-faqs', - 'FAQs/LST-stCore-faqs','FAQs/core-api-faqs' ] + 'FAQs/dual-staking-faqs', + 'FAQs/LST-stCore-faqs','FAQs/core-api-faqs', + 'CoreIgnition/FAQs'] }, ], + nodeSidebar:[ { type: 'category', @@ -254,12 +254,36 @@ const sidebars = { ] }, ], + stakeDelegateSidebar:[ { type: 'category', collapsed: true, label: 'đ¸ Staking', - items: ['stake-and-delegate/staking-overview'] + items: ['stake-and-delegate/staking-overview', + // 'stake-and-delegate/core-staking', + { + type: 'category', + collapsed: true, + label: 'Non-Custodial BTC Staking', + items: [ + 'Learn/products/btc-staking/overview', + 'stake-and-delegate/dual-staking', + 'Learn/products/btc-staking/design', + { + type: 'category', + collapsed: true, + label: 'How To Guides', + items: [ + 'Learn/products/btc-staking/stake-btc-guide', + 'Learn/products/btc-staking/dual-staking-guide', + 'Learn/products/btc-staking/Redeeming-Guide', + ] + }, + ] + }, + + ] }, { type: 'category', diff --git a/src/pages/index.js b/src/pages/index.js index 842494e235..4750fd8943 100644 --- a/src/pages/index.js +++ b/src/pages/index.js @@ -4,15 +4,19 @@ import Layout from '@theme/Layout'; import { Redirect } from 'react-router-dom'; +// export default function Home() { +// const {siteConfig} = useDocusaurusContext(); +// return ( +//