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Alisa Davidson
Published: November 22, 2024 at 10:20 am Updated: November 22, 2024 at 9:46 am
Edited and fact-checked:
November 22, 2024 at 10:20 am
In Brief
Zeus Network unveiled the tokenomics of ZEUS with the goal of onboarding 1% of Bitcoin liquidity into the Solana DeFi ecosystem.
Interoperability layer for the Solana Virtual Machine (SVM), Zeus Network unveiled its tokenomics with the goal of onboarding 1% of Bitcoin liquidity into the Solana decentralized finance (DeFi) ecosystem and enabling unrestricted use of UTXO-based assets such as Dogecoin, Litecoin, and Kaspa.
ZEUS is a foundational layer token that ensures the security of ZeusNode while enabling a seamless, permissionless flow of Bitcoin liquidity into Solana. Its utility is structured in three distinct development chapters.
In the first chapter, ZEUS functions as a layer token designed to facilitate the secure transfer of Bitcoin liquidity into Solana. The initial exchange rate of 20,000 ZEUS to 1 BTC is strategically set to stabilize ZeusNode and the ZPL-asset framework. This phase aims to onboard Bitcoin as zBTC, the first ZPL-asset, and create a permissionless gateway for on-chain yield generation and various DeFi strategies within Solana’s ecosystem. The 20,000 ZEUS to 1 BTC ratio serves as a secure starting point, with adjustments to follow based on market conditions and Solana’s liquidity needs.
ZeusNode acts as the core infrastructure of the Zeus Network, facilitating permissionless interactions between Bitcoin and Solana. By delegating ZEUS to Guardians, participants help maintain consensus, secure the network, and uphold the integrity of cross-chain transactions managed by ZeusNode Guardians. As a ZeusNode Delegator, users play a vital role in securing the network, fostering Bitcoin-Solana innovation, and earning rewards for their contributions.
In chapter two, ZEUS will expand its utility within the Solana ecosystem, unlocking new ZPL-asset applications, including xyzBTC, and further enhancing Solana’s DeFi capabilities and overall ecosystem growth.
Looking ahead to chapter three, Zeus plans to enable multi-chain interactions, aiming to connect UTXO-based blockchains such as Dogecoin, Litecoin, and Kaspa. This will create a more unified financial system, eliminating fragmentation and driving innovation across Solana.
What Is Zeus Network?
Zeus Network, an interoperability layer built on the SVM, enables seamless connections between Solana and other blockchains, including Bitcoin, Litecoin, and Dogecoin.
The platform’s primary focus is integrating Bitcoin through its decentralized application (dApp), Apollo, which facilitates the transfer of Bitcoin liquidity into Solana. This integration provides Bitcoin holders with the opportunity to access and interact with dApps within the Solana ecosystem.
In April, Zeus Network successfully raised $8 million in a seed funding round, with investments from Mechanism Capital, OKX Ventures, Animoca Ventures, Lemniscap, and other supporters.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
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