The Core Foundation, the organization behind the Core blockchain, announced the launch of the Core Commit Program, a major initiative aimed at accelerating blockchain development and innovation. Scheduled to begin on October 14, 2024, the three-month program will provide developers with funding, expert mentorship, and support from over 100 venture companies, including notable companies such as Google, UTXO, Foresight Ventures, and Faction. Provides direct access to capital companies.
The Core Commit program will distribute a total of $75,000 worth of CORE tokens to participating developers, with monthly awards of $25,000 based on performance and project milestones. This initiative is significant for Core Blockchain, which has led Bitcoin staking and BTCfi (Bitcoin-based decentralized finance) since launching non-custodial Bitcoin staking in April 2024. It is held at a certain time.
“Core Commit aims to empower developers by providing the resources and guidance they need to build impactful dApps on top of Core,” said Rich Rines, Core Foundation Core Contributor. “It’s designed to help,” he said, emphasizing the importance of the program. He added that the program is an essential step in promoting sustainable development across the chain, ensuring builders have the tools they need to successfully complete and scale their projects.
The timing of this program aligns with the rapid growth of the BTCfi ecosystem on Core. Since its launch, users have staked approximately 5,000 BTC, demonstrating strong adoption of the platform’s risk-free earning mechanism for Bitcoin holders. This ecosystem has also experienced impressive growth, with Total Value Locked (TVL) exceeding $400 million and over 80,000 daily active users.
Applications for the Core Commit Program will be accepted from October 14 to November 14, 2024. To be eligible for rewards, projects must be open source and developers must demonstrate visible progress through code commits on GitHub. The program culminates with a Demo Day, where teams will showcase their projects for potential further funding.
Core Ventures, the investment arm of the Core Foundation, will play a key role in providing practical guidance to participating teams. The program boasts an impressive roster of mentors, including Mike Silagadze, CEO and founder of Etherfi. Thomas Cheng, Managing Director and Global Head of Sales, BitGo; Jess Jonas, Chief Legal Officer, Bitcoin Legal Defense Fund. Grace Li, Strategic Industry Business Development Manager at Google. Min Kim, Web3 Marketing Specialist.
The launch of the Core Commit program highlights the growing importance of the Core blockchain in the broader cryptocurrency ecosystem. As the first company to enable self-custodial Bitcoin staking, Core is positioning itself as a critical infrastructure for Bitcoin’s evolving utility. Since April 2024, over 5,500 BTC worth over $300 million has been staked on Core, highlighting the platform’s critical role in strengthening Bitcoin’s utility and security.
Core’s accomplishments go beyond Bitcoin staking. As the most Bitcoin-aligned EVM (Ethereum Virtual Machine) blockchain, with over 21 million unique addresses, over 279 million transactions, and $420 million since mainnet launch in January 2023 It has been significantly adopted in TVL over . These numbers signal the platform’s growing influence in the blockchain space and its potential to shape the future of decentralized finance.
The Core Commit program represents a strategic move to further solidify Core’s position in the blockchain industry. The Core Foundation aims to grow the ecosystem and accelerate adoption of BTCfi by fostering innovation and supporting developers. As the program unfolds, it will be interesting to see how it impacts the broader blockchain landscape and potentially reshapes the intersection of Bitcoin and decentralized finance.
