Zeus Network Unveils New ZEUS Tokeneconomics to Drive Bitcoin Liquidity and Solana Integration
Alyssa Davidson
Published: Nov 22, 2024 10:20 AM Updated: Nov 22, 2024 9:46 AM
Correction and fact check date: November 22, 2024, 10:20 AM
briefly
Zeus Network has unveiled the token economics of ZEUS with the goal of onboarding 1% of Bitcoin liquidity into the Solana DeFi ecosystem.
Zeus Network, an interoperability layer for the Solana Virtual Machine (SVM), onboards 1% of Bitcoin liquidity into the Solana decentralized finance (DeFi) ecosystem and supports Dogecoin, Litecoin, and Caspar.
ZEUS is a base layer token that ensures the security of ZeusNode while enabling the seamless, permissionless flow of Bitcoin liquidity to Solana. The utility consists of three development chapters:
In the first chapter, ZEUS acts as a layer token designed to securely transfer Bitcoin liquidity to Solana. The initial exchange rate of 20,000 ZEUS to 1 BTC has been strategically set to stabilize the ZeusNode and ZPL asset framework. The goal of this phase is to onboard Bitcoin as zBTC, the first ZPL asset, and create a permissionless gateway for on-chain yield generation and various DeFi strategies within the Solana ecosystem. The ratio of 20,000 ZEUS to 1 BTC serves as a safe starting point that will be adjusted based on market conditions and Solana’s liquidity needs.
ZeusNode serves as the core infrastructure of the Zeus Network and facilitates permissionless interactions between Bitcoin and Solana. By delegating ZEUS to Guardians, participants help maintain consensus, secure the network, and maintain the integrity of cross-chain transactions managed by ZeusNode Guardians. As ZeusNode delegators, users play a critical role in securing the network, fostering Bitcoin-Solana innovation, and earning rewards for their contributions.
In Chapter 2, ZEUS will expand its utility within the Solana ecosystem, unlocking new ZPL asset applications, including xyzBTC, further strengthening Solana’s DeFi capabilities and overall ecosystem growth.
Ahead of Chapter 3, Zeus plans to enable multi-chain interaction, with the goal of connecting UTXO-based blockchains such as Dogecoin, Litecoin, and Kaspa. This will create a more integrated financial system, eliminating fragmentation and driving innovation across Solana.
What is the Zeus Network?
Zeus Network, an interoperability layer built on SVM, enables seamless connectivity between Solana and other blockchains, including Bitcoin, Litecoin, and Dogecoin.
The main focus of the platform is integrating Bitcoin through Apollo, a decentralized application (dApp). Apollo makes it easy to transfer Bitcoin liquidity to Solana. This integration provides Bitcoin holders the opportunity to access and interact with dApps within the Solana ecosystem.
Last April, Zeus Network successfully raised $8 million in a seed funding round with investments from Mechanism Capital, OKX Ventures, Animoca Ventures, Lemniscap, and other backers.
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About the author
As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
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Alyssa Davidson
As MPost’s resident journalist, Alisa specializes in the broad areas of cryptocurrencies, zero-knowledge proofs, investing, and Web3. With a keen eye for new trends and technologies, she provides comprehensive coverage to inform and engage readers about the ever-evolving digital financial landscape.
more articles