ZKM, a protocol that seeks to increase Bitcoin through its zkVM protocol, has introduced the launch of a Bitcoin layer-2 community referred to as GOAT Community.
In an announcement shared with crypto.information on Monday, ZKM mentioned GOAT Community will go reside in Q3, 2024 to carry the primary common L2 to the market. The decentralized platform may also be the primary L2 on Bitcoin to share community possession.
ZKM’s Entangled Rollup expertise will energy the brand new L2, with customers set to learn from Bitcoin community’s safety.
“GOAT Community’s launch of a Bitcoin L2 is a strong first step in ZKM’s quest to unite the fragmented Web3 universe,” GOAT Community core contributor Kevin Liu, mentioned within the press launch.
GOAT Community’s distinctive method
Whereas different Bitcoin L2s have Foundations that management undertaking’s operations and income, ZKM says GOAT Community is taking a unique method. GOAT Community makes use of a decentralized sequencer mannequin the place decentralized possession permits for sequencer nodes to earn yield on their BTC whereas securing the community. The nodes additionally earn from BTC charges.
In line with the ZKM workforce, anybody from Bitcoin miners and BTC holders to Web3 and TradFi establishments can apply to function sequencer nodes. The undertaking claims this might be an ecosystem run by companions and stakeholders.
GOAT Community to launch with 5 institutional nodes
5 institutional node operators have pledged 5,000 bitcoin to assist safe the community, the GOAT Community workforce disclosed. In the meantime, GOAT could have seven node operators at launch and can goal extra to bump community liquidity.
The platform additionally expects a number of decentralized functions (dApps) to go reside on day 1 of mainnet launch. These will embrace a decentralized alternate (DEX), perpetual swaps protocol, borrow/lend, and zero-gas platform to energy BRC-20 token buying and selling amongst others.
Eyeing a sequence A funding spherical
GOAT has additionally unveiled a rewards program for BTC holders. Sooner or later, the platform will prolong rewards to any bitcoin holder that whitelists BTC – 0.001 or extra. The rewards may also go to dApps that launch on the primary day in addition to sequencer node operators that lock their BTC to assist safe the community
Forward of the mainnet launch, GOAT Community will open its Sequence A funding spherical that targets extra capital injection after the $5 million pre-A fundraiser closed in November final 12 months.