Meet Core Chain - Enabling Core DAO Swap and Bridge at Symbiosis

We’re thrilled to announce our latest network integration - Core Chain by Core DAO - a Layer 1 blockchain network that utilizes the capacities and functionality of smart contracts on Ethereum and the decentralization and security of Bitcoin. From now on, users can swap and bridge assets on Core DAO on Symbiosis Protocol.

Without further ado, let’s cover all the information you need to know about Core DAO, its blockchain features, and the network launch review at Symbiosis we’ve been working on. 

Delving Into Core DAO and Its Network

What is Core DAO?

Core DAO is a network known for developing Core Chain that unites the features of Bitcoin's robust security and Ethereum's flexibility in smart contracts. It is a Bitcoin sidechain that uses a unique mechanism - Satoshi Plus Consensus that combines Bitcoin’s Delegated Proof of Work and achieves scalability and composability through Ethereum-like Delegated Proof of Stake. This helps Core DAO power the staking mechanism that rewards users with BTC in reward for the liquidity in their native token - CORE.

The mission of Core DAO blockchain focuses on creating a decentralized platform for builders and users to integrate the robust security of Bitcoin with the scalability and smart contract capabilities of Ethereum. 

Role of Core DAO in Facilitating Bitcoin Adoption

In recent years Bitcoin scalability has been one of the primary focuses in the industry - numerous networks, protocol,s and development services are trying to solve the dilemma of providing more capacities to build and interact with finances on Bitcoin while sustaining the level of decentralization and security of the blockchain. 

Core DAO comes along with a network that aims to drive the widespread adoption of Bitcoin and general blockchain technology by offering a platform that is accessible and user-friendly. Compatibility of Ethereum and its development features enables easy migration or deployment of the decentralized applications that are built with the support of smart contract and Ethereum Virtual Machine on the Core blockchain.

What this means for regular users is the broader scope of on-chain activities that are enabled for enthusiasts and newcomers to the Bitcoin ecosystem. Core DAO makes familiar services and assets for the Ethereum ecosystem (including stablecoins, liquidity pool rewards via the staking mechanism, etc.) available on the Bitcoin-aligned blockchain network.  

Symbiosis is excited to begin the support of Core Chain and Core DAO’s mission within Symbiosis protocol and enable seamless exchange of tokens on Core Chain using the technology of smart contracts and Ethereum Virtual Machine.    

Explaining Core DAO Integration at Symbiosis

Symbiosis enables the support of on-chain and cross-chain routes for swaps and bridges on Core DAO blockchain to improve interoperability and liquidity.

From the technical side, enabling Core DAO swaps and bridges into Symbiosis protocol involved several important steps. 

• First, coreBTC token - an equivalent of native Bitcoin on Core Chain, is being integrated into the Symbiosis decentralized exchange protocol on the host chain;

  
  

• As Core Chain goes live on Symbiosis, our relayer network starts corresponding with the blockchain. 

These steps allow Symbiosis to perform seamless exchange of assets between Core Chain and other supported networks in the Symbiosis ecosystem as well as the routing of liquidity and transactions across the integrated blockchain.

Benefits of Core DAO Integration

This is an important milestone for both Core DAO and Symbiosis as the collaboration opens more opportunities for users and ecosystem contributors to transfer the liquidity without a need to perform several exchanges and have a highly negative impact on the funds amount. 

With the successful launch of our smart contracts on Core Chain, we present cross-chain and on-chain exchange of assets to and from Core DAO blockchain including the support of coreBTC, the USDC and USDT stablecoins bridge, and CORE swaps - the native token of Core DAO.

The Core DAO’s mission of a wider and easier cryptocurrency adoption is aligned with what Symbiosis pursues - a seamless experience and minimum obstacles for users to interact with DeFi. 

Core DAO Bridge and Swaps - Available Now

It’s time to harvest the field of cooperation with Core DAO and our development efforts. Here’s an invitation for all users to experience the cross-chain exchange and transfer of funds on Core DAO! 

Let’s start with a short and compound step-by-step guide on Core DAO:

• Visit Symbiosis WebApp right at this link;

  
  

• Choose Core DAO as your desired destination network;

  
  

• Indicate the required sum of tokens and the asset type to be swapped or bridged;

  
  

• Then, connect your wallet to proceed with the exchange;

  
  

If all terms look good, feel free to continue and perform your swap. In a short matter of time, your balances in your connected wallet will be updated.

Let’s Stay In Touch!

For those who visit our website first time - it’s about time we introduce ourselves 🙂

We’re Symbiosis - a multi-chain AMM DEX protocol that offers easy swaps and bridges via 25+ supported EVM and non-EVM blockchains including now Core Chain. By pooling the liquidity from different Layer 1 and Layer 2 scaling protocols, our protocol allows secure and fast “any-to-any” native asset swaps and liquidity contributions across various networks via one complete transaction. 

It’s our pleasure to have you onboard - say hi to us on socials, visit our community, and read more about Symbiosis technology:

• Our X/Twitter

• Discord Community

• Telegram Chat

• Documentation