CORE

Core DAO in 2023: Ecosystem Update

by BSC News

September 18, 2023

chain

Innovations, partnerships, and integrations have marked Core DAO’s development in 2023.

Introduction

Since its mainnet launch on January 14, Core DAO has rapidly gained traction in the Decentralized Finance (DeFi) space, particularly within the Layer One ecosystem. 

Utilizing the Satoshi Plus Consensus mechanism, Core DAO aims to tackle the blockchain Trilemma by offering a balanced mix of security, scalability, and decentralization. This article delves into the protocol's key achievements and updates from January to September 2023:

Core Bridge Powered by LayerZero

Core DAO unveiled the Core Bridge in March, developed in collaboration with LayerZero. This bridge allows for the smooth transfer of supported assets between Core's layer-1 blockchain and other leading blockchain networks. 

As reported by BSC News, the Core Bridge enables developers to integrate other chains into their Decentralized Applications (dApps) and leverage LayerZero's cross-chain messaging framework to connect Core chain smart contracts to other blockchains.

Core S-Prize Innovation

Core DAO launched the S-Prize to stimulate creativity and innovation, targeting builders in the DeFi and GameFi sectors. The S-Prize challenged participants to meet specific milestones and objectives within a set timeframe, offering CORE rewards as incentives. 

Winners in the DeFi category included Decentralized Exchanges (DEXs) like ArcherSwap, IceCreamSwap, and ShadowSwap, while Energy Crisis and OmniaVerse took the top spots in the GameFi category.

$200M Partnership with Bitget and MEXC

In a significant move in April, Core DAO announced a $200 million collaboration with top exchanges Bitget and MEXC. 

According to the protocol's announcement, this substantial capital injection aims to "reward Core’s best builders and spur ecosystem growth." MEXC and Bitget are considered "key strategic partners of Core DAO," contributing to the protocol's ongoing initiatives in accessibility and decentralization. 

Integration with SushiSwap

August saw Core DAO integrating with SushiSwap, a respected DEX in the industry. This integration allows users to interact with Core-based tokens on SushiSwap's platform. The wide range of DeFi services offered by SushiSwap, coupled with its substantial liquidity, opens up new avenues for financial innovation on Core.

Firehose Integration for Faster Data Extraction

The most recent update in Core DAO's ecosystem is its integration with Firehose. This feature is designed for developers, as it enables quick extraction of blockchain data using Subgraphs. 

In simple terms, this means developers can access the data they need more efficiently, enhancing their applications' performance.

Notable Mention at TOKEN2049 Web3 Event

Core DAO was also highlighted at the TOKEN2049 Web3 event held in Singapore from September 13th to 14th. The event featured other prominent names in the crypto space, including Lido, Polygon, DWF Labs, Orbiter Finance, zkSync, Solana, Cubic, Animoca Brands, The Sandbox, Lifeform, Chainge Finance, and Orion.

As Core DAO approaches its first-anniversary post-mainnet, its journey from January to September 2023 has been marked by seemingly significant partnerships, innovations, and integrations. 

What is Core DAO

Core DAO Network is a new Layer one blockchain project, backed by the Satoshi Plus Consensus mechanism, which aims to solve the blockchain Trilemma—Scalability, Security, and Decentralization. The project is new after launching mainnet in early 2023. 

Core DAO is EVM-compatible, looking to provide the ability to migrate and deploy contracts and dApps or transfer tokens between chains. The protocol is backed by its native $CORE token. As with any crypto asset, $CORE is volatile, and carries risk. Users are advised to undertake their own thorough research before investing in $CORE or interacting with its Layer one ecosystem.

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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