Users can now wrap CORE tokens to StakedCore (SCORE) tokens which continuously earn auto-compounding staking rewards and are directly tradable and usable in DeFi protocols.
Use SCORE for Liquid Staking and DeFi
Multi-chain Decentralized Exchange (DEX) platform, IceCreamSwap, has unveiled its innovative StakedCore (SCORE) token for Core DAO enthusiasts.
The token, generated from staking Core DAO’s native $CORE currency, was launched by the platform to supercharge CORE staking. When users wrap CORE to SCORE, it is deposited into the Delegated Proof of Stake (DPoS) part of the Satoshi Plus Consensus mechanism. After staking, rewards are automatically compounded and increase the price of the SCORE token.
This innovation implies that the SCORE token strongly correlates with CORE’s price but reliably outperforms it due to the earned staking rewards. Therefore, SCORE increases as CORE price increases and vice versa. Most importantly, the token can be utilized like other ERC20 tokens, unlike regular staked tokens that are untouchable. IceCreamSwap disclosed to BSCNews that users could either hold or utilize the token with Decentralized Applications (dApps).
“The SCORE is compounding automatically, and users can use it to either hold the token, which is like staking with auto compounding, or use it in DeFi applications, like providing liquidity for a swap to earn additional rewards on top of the staking rewards.” IceCreamSwap wrote.
Usually, when users stake their CORE holdings, it becomes untouchable. But with SCORE, users can use their staked tokens while the rewards are compounded automatically and even earn additional rewards on top of the staking rewards. IceCreamSwap announced the new feature on February 25 via Twitter.
The deposit and withdrawal are handled on the SCORE smart contract created by the DEX, allowing users to deposit CORE into SCORE and withdraw SCORE into CORE. IceCreamSwap will also create a big CORE/SCORE liquidity pool for users to trade without complexities.
IceCreamSwap is revolutionizing the blockchain and Decentralized Finance (DeFi) space with many innovations. The protocol aims to offer users ease through SCORE while enjoying the benefits of tokenized and auto-compounding CORE staking.
Earn additional rewards by providing SCORE liquidity
In addition to the staking rewards, users can provide CORE/SCORE liquidity on IceCreamSwap to earn trading fees and ICE rewards.
Get SCORE tokens
There are two simple ways to get SCORE tokens, either buy them on IceCreamSwap DEX just like any other token
Or wrap CORE to SCORE by sending native CORE to the SCORE token contract address 0xA20b3B97df3a02f9185175760300a06B4e0A2C05
Add SCORE token to a wallet
The address of the SCORE token is 0xA20b3B97df3a02f9185175760300a06B4e0A2C05, which can be used to import the SCORE token to a wallet. IceCreamSwap also can add the token to connected wallets by simply pressing the MetaMask symbol after selecting the SCORE token
What is IceCreamSwap:
IceCreamSwap is a multi-chain DEX comprising numerous features such as Swap, Bridge, Staking, Farm, and Launchpad. The protocol allows users to trade tokens with its friendly UI across numerous chains, including Core, XDC, Bitgert, and BNB Chain.
Where to find IceCreamSwap:
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem’s history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Website | Docs | Twitter | Discord