- GOAT Network has announced that users can stake Dogecoin (DOGE) to secure its upcoming network, expanding beyond Bitcoin staking.
- The network aims to provide scalable yield for Bitcoin users, with over 5,000 BTC pledged by major external sequencer node operators.
GOAT Network, a layer 2 Bitcoin (BTC) scaling project, announcement On Wednesday, users will soon be able to stake Dogecoin (DOGE) to secure its upcoming network, while users will earn crypto rewards. This strategic move expands the network’s offerings, which previously only allowed Bitcoin staking.
Currently, the network allows users to lock BTC to earn rewards, a process known as staking. The next mainnet will allow Bitcoin holders to engage in various decentralized finance (DeFi) activities, such as lending or trading, without relinquishing ownership of their assets. The platform is still in development, with its full ecosystem on the horizon.
A Sustainable Return Model for Bitcoin Holders
The network’s main concern is BTC holders and sustainable yield opportunities. GOAT Network is the first to offer a decentralized sequencer model, different from the centralized methods found in traditional system designs. Each sequencer node operator plays a key role in network security. Their reward will be network fees as well as block production and transaction ordering.
GOAT Network aims to bring scalable yield to Bitcoin users by offering BTC rewards for securing its decentralized Layer 2 network. This model differs significantly from other Bitcoin Layer 2 solutions as users will receive real BTC rewards in exchange for their contributions. GOAT’s design promises sustainability through its gas token model, where wrapped BTC powers network transactions.
As the Bitcoin DeFi landscape grows, GOAT Network’s unique model capitalizes on the growing demand for scalable and secure yield-generating platforms. The network is quickly gaining traction, with over 5,000 BTC already pledged by several external sequencer node operators, including big names like Hashkey, Amber Group, and RockX.
Through the creation of its mainnet, the GOAT network will be a construct for a DeFi cosmos where a premier decentralized exchange (DEX), derivatives, and a gasless platform are the main stables. These dApps will allow users to trade Bitcoin native assets such as BRC-20 tokens, borrow and lend assets, and participate in a vibrant DeFi ecosystem.
GOAT Network Fuels Dogecoin Growth
Dogecoin has recently seen a huge increase in value, climbing over 100% due to a Elon Musk transaction and the launch of the Department of Government Effectiveness (DOGE), a non-governmental organization. Beyond the community, GOAT Network preferred DOGE because of its vibrant followers and connection with DOGE.
GOAT Network believes that Dogecoin offers a unique “community vibe,” making it an ideal candidate for staking. This strategy aims to help Dogecoin investors weather crypto market volatility without having to sell their assets prematurely. Instead, they will earn rewards in Bitcoin, which has seen increased institutional and national adoption.