Core DAO in 2023: Ecosystem Update

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. 

One ben­e­fi­cia­ry of this ecosys­tem fund is Aquar­ius Loan, the first decen­tral­ized lend­ing pro­to­col on the Core blockchain.

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.

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