Redeem Staked Bitcoin or Claim CORE Rewards
Core offers Bitcoin holders to stake their assets onto the Core blockchain to ear passive income in the form of CORE tokens. To learn how to stake your Bitcoin assets onto Core and earn rewards, follow our detailed guide. After you have succesfully staked your Bitcoin on the Core blockchain, next up is to learn to claim your CORE rewards or redeem your staked Bitcoin. This detailed guide will be utilized when you see ‘Redeem’ appear under ‘Action’ on the delegated validator you chose previously or ‘Claim’ next to ‘Delegated Hash & Core Rewards’ and or ‘Bitcoin Staking Rewards’.
Reward Distribution Information
- Distribution of Rewards: CORE token rewards are distributed to stakers as incentives for their contribution to network security and governance.
- Reward Source: Rewards are sourced from the consensus reward pool shared between participants of Core's dual mechanisms: dPoW (Bitcoin miners) and dPoS (Bitcoin and CORE stakers).
Redeem an Expired Staked Bitcoin
If your staking period has expired, redeem your staked Bitcoin assets from either Unisat or Xverse wallet(s). You must use the same wallet address during the staking process to redeem your expired staked Bitcoin.
- From any CORE screen, hover over your connected wallet in the top right corner → click ‘My Staking’.
- At the delegator screen, look for the column BTC(x) and click.
- You are now viewing the validators that you have previously delegated your staked Bitcoin to. Look for any validators that say ‘Expired’ under ‘Redeem Time’ and proceed to clicking ‘Redeem’ under ‘Action’.
- You will be met with a popup window to redeem your Bitcoin. In order to redeem the Bitcoin, you must connect to the same Bitcoin wallet address as the one initiating the Bitcoin staking transaction.
- Set your receiving Bitcoin Address to receive the unlocked Bitcoin. This does not need to be the same as the address that initiated the Bitcoin staking transaction.
- Set your transaction speed priority
- Click ‘Create Transaction’
- Sign the transaction with your Bitcoin wallet that you connected previously, and verify the Bitcoin has returned to your receiving address. (This may take a few minutes).
Claim CORE token rewards earned from Bitcoin Staking delegation
1. From any CORE screen, hover over your connected wallet in the top right corner, click ‘My Staking’.
- Click the ‘Claim’ button next to ‘BTC Staking Rewards’
- Sign the transaction via MetaMask wallet.
- Wait for transaction to submit
- Verify Transaction succeed
Conclusion
By following this guide, you have sucecesfulyl learned how to redeem your staked Bitcoin from the Core blockchain, as well as, how to redeem your rewards earned as CORE token from delegating your staked Bitcoin. We’re happy you’ve chosen to journey into BTCfi with Non-Custodial Bitcoin Staking on Core!