Zeus Network to Launch Zeus Program Library, Bridging Bitcoin and Solana by Q3 2024
Summary:
Zeus Network, the Solana-to-Bitcoin cross-chain bridge, is set to launch its Zeus Program Library (ZPL) by Q3 2024. ZPL facilitates activities like DeFi, GameFi, and more, which were previously challenging on the Bitcoin blockchain. It will also enable users to deposit Bitcoin and receive ZPL-wrapped zBTC tokens in return, allowing interaction with the Solana ecosystem. Additionally, Bitcoin staking will be enabled on its Apollo mainnet. The network, backed by Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali, secured $8 million in funding in April.
Zeus Network, the cross-chain bridge linking Bitcoin and Solana, is set to roll out its Zeus Program Library (ZPL) by the third quarter of 2024, an innovation that will unlock several opportunities on Solana. The new feature will facilitate activities such as DeFi, GameFi, SocialFi, DePIN, which have traditionally been difficult on Bitcoin's blockchain. The ZPL-a SVM (Solana Virtual Machine) compiled program library will provide developers the means to incorporate native Solana support into decentralized apps and help facilitate transactions across multiple blockchain platforms. Zeus Network sees the potential for tremendous value transfer, considering Bitcoin's market cap of around $1.2 trillion and the remarkable $135 million in fees generated by over 11,000 Runes within the first week on the Bitcoin blockchain.
ZPL, coupled with the Apollo bridging protocol, will allow users to deposit their Bitcoin (BTC), receive ZPL-wrapped zBTC tokens in return, and engage with decentralized exchanges, NFT marketplaces, and other digital finance services within the Solana ecosystem. Further expansion plans include adding Bitcoin Runes and Ordinals, referred to as "zRuneX" and "zOrdX", to ZPL-supported assets on Solana, as well as enabling Bitcoin staking on its Apollo mainnet.
Zeus Network, backed by Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali, secured a funding of $8 million in April at a $100 million valuation. Also launched in April was Bitcoin Runes, a token standard that augments the functionality of Bitcoin's blockchain by enabling users to tokenize various tangible assets, ranging from real estate to other cryptocurrencies. Another development, Bitcoin Ordinals, allows users to assign a unique number to each satoshi, or 1/100 millionth of a Bitcoin.
Last month, Orders Exchange integrated with the Bitcoin Runes protocol, enabling the issuing of fungible tokens on the native network and building a Bitcoin asset bridge with MicroVisionChain for BRC-20 token swaps, further enhancing the Bitcoin decentralized application ecosystem.
Published At
5/1/2024 11:45:00 PM
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