As Bitcoin DeFi gains traction, there is a need for a faster, cheaper, and easier way to transact on the Bitcoin network. This is where GOAT Network comes into the picture.
Launching in the fall of 2024, GOAT is the first Bitcoin Layer 2 network to share ownership of its network. Rather than the usual model of the governing foundation controlling all network operations and resulting revenue itself, GOAT will launch with seven external sequencer node operators, sharing everything from block production and transaction ordering duties to sequencer revenue with its community.
GOAT will be powered by ZKM‘s Entangled Rollup technology, which is a multi-chain interoperability infrastructure that minimizes trust while enabling frictionless transfer of value and data across multiple networks. ZKM aims to unify the currently fragmented liquidity across all the blockchains. For this, it has built an Entangled Rollup Network where different chains share their native assets without any security assumptions; GOAT is the real-life use case to carry out that mission.
GOAT Network Will Deliver Sustainable Yield for BTC Holders
In its pursuit of becoming the Global Settlement Network, ZKM has set its sights on Bitcoin. The project is bringing sustainable yield to the largest cryptocurrency while leveraging the trillion-dollar asset’s native security. For this, ZKM is launching GOAT Network, the first decentralized Bitcoin Layer 2 to share network ownership and rewards.
GOAT Network will offer yield-earning opportunities to anyone who pledges their BTC to support on-chain liquidity and secure the network.
What sets this L2 apart from others is that instead of being run and controlled by a Foundation, GOAT Network will utilize a decentralized sequencer model. Under this model, each sequencer node operator will help secure the network, and for their work, they will receive fees for block production, transaction ordering, and MEV opportunities in addition to yield on their BTC.
What differentiates GOAT Network and GOAT Club from other L2s and other points programs is that BTC holders who lock assets on GOAT earn real BTC yield on their BTC in exchange for securing the network and providing liquidity.
GOAT’s unique economics model provides real BTC rewards for all users who lock BTC into GOAT sequencer nodes. Since GOAT’s wrapped version of BTC is also the network’s gas token, a virtuous loop is created, whereby the more transactions that occur on the network, the more gas fees are generated in BTC, and thus the more BTC rewards are accrued by users who locked their BTC in GOAT sequencers. No other Bitcoin L2 has introduced that kind of sustainable BTC yield model.
Moreover, with 42% of GOAT’s lifetime token supply earmarked for sequencer mining and community mining rewards, GOAT creates a source of sustainable yield that differs radically from the one-time points campaigns offered by other projects, which often get gobbled up by farmers and bots and deliver little to no sustainable value.
The project invites everyone from Bitcoin miners and holders to traditional finance institutions and Web3 enthusiasts to apply to run their own sequencer nodes and become stakeholders of GOAT Network’s dynamic ecosystem.
Already, ahead of GOAT Network’s upcoming mainnet launch, more than 5,000 BTC has been pledged by five external sequencer node operators, including Hashkey, Amber Group, RockX, and Benmo. GOAT will launch its mainnet with seven sequencer node operators, and eventually expand to include dozens more, thus achieving its goal of becoming the most decentralized Bitcoin L2 while providing deep BTC liquidity to power its DeFi ecosystem.
“The two biggest challenges facing Bitcoin Layer 2 networks are security and sustainable yield,” said GOAT Network Narrative Lead Kevin Liu. “Our Entangled Rollup architecture and decentralized sequencer model will create an environment which ensures that user assets remain secure, while sequencer revenue combined with token locking rewards and advanced TradFi techniques will enable robust sustainable yield for users who lock their BTC on GOAT.”
When GOAT launches its mainnet this fall, it will introduce an ecosystem of robust DeFi dApps, including a leading DEX, perpetual swaps, a zero-gas platform that enables trading of BRC-20 and other Bitcoin-native assets, a leading borrow/lend protocol, and more.
GOAT Club Is Now Live
Today, GOAT Network released its GOAT Club campaign, to provide future GOAT token rewards to everyone from sequencer node operators to builders, as well as users ranging from whales to smaller holders who pledge as little as 0.001 BTC.
If you’re a user seeking to become an early contributor to GOAT Club and earn double GOAT points rewards in the form of Community Points (CP), you must perform the following tasks:
- Connect your BTC wallet. Eligible BTC wallets include OKX and Unisat, as well as hardware wallets Ledger, Keystone, and OneKey.
- Follow GOAT Network on X and join the GOAT Network Telegram channel.
- Enter Invitation Code (optional)
- Pledge certain amount of BTC to one of the Sequencer Nodes (minimum 0.001 BTC)
Other GOAT Club participants will include:
–Sequencer Nodes, who will earn Sequencer Points (SP) based on the number of blocks they produce
–Builders, who will earn Builder Points (BP) to attract more user interactions to mainnet events by integrating the GOAT Club points API to work with their own points system, and earn retroactive rewards every month based on gas consumption and TVL locked into their smart contracts.
Ahead of the mainnet launch, exploring the GOAT Network creates opportunities to become an early contributor, which along with finishing future mainnet tasks, enables double rewards for qualified participants.
Currently, users can pledge as much to BTC as they like, with the freedom to pledge for multiple nodes simultaneously. Once GOAT Network mainnet and its mining rewards go live, users will be able to lock as much BTC as they want; the more BTC locked, the more points a user will earn.
For all the details on GOAT Club, the rewards campaign launched by the first BTC L2 to share network ownership, visit goat.network/goatclub
