GOATEDPrice

(GOATED)

GOAT Network, with its native token GOATED, is a Web3 project designed as a Bitcoin Layer 2 scaling solution. It functions as a Bitcoin-native Zero-Knowledge (ZK) Rollup, an architecture intended to enhance the utility of Bitcoin by allowing it to act as a productive asset rather than just a passive store of value. The project aims to establish a decentralized finance ecosystem specifically for Bitcoin, often referred to as BTCFi. Technical Architecture The project utilizes a proprietary zero-knowledge virtual machine called zkMIPS, which is engineered for high-speed proof generation. It also implements the BitVM2 challenge model, which significantly reduces the time required for transaction verification and security challenges. A distinguishing feature of the network is its Decentralized Sequencer model. Unlike many Layer 2 solutions that rely on a single central authority to process transactions, GOAT Network distributes this responsibility across a network of node operators. This design is intended to increase security, reduce central points of failure, and share network revenue with participants. Token Utility and Ecosystem The GOATED token serves several primary functions within the ecosystem: 1. Governance: Holders can participate in the decision-making process for network upgrades and treasury allocations. 2. Staking and Yield: The token can be staked or locked to enhance the yield rates for users holding Bitcoin on the network. 3. Incentives: It is used to reward sequencers, developers, and early adopters. Approximately 40 percent of the total token supply is reserved for mining and ecosystem rewards to encourage long-term participation. 4. Security: Stakers can qualify to become sequencers, earning rewards for securing the network and processing blocks. Mission and Backing The mission of GOAT Network is to bridge the gap between Bitcoin's security and the programmability of decentralized applications. It supports a suite of products including lending, gaming, and trading platforms that generate rewards from network activity such as gas fees and miner incentives. The project is supported by several prominent Web3 venture capital firms, including OKX Ventures, Crypto.com, Amber Group, and Polygon Ventures. The core team includes individuals with backgrounds from major technology firms and existing blockchain protocols. By focusing on a usage-driven security model, the project seeks to align the interests of Bitcoin holders, developers, and node operators within a single decentralized framework. Learn more

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