GOAT Network: An Innovative Choice for BTC L2 Solutions

As the Bitcoin ecosystem continues to evolve, the ecological development related to BTC has become an important topic in the Web3 space in 2023 and 2024. Among them, Layer2 built on BTC is a crucial part of the ecological construction. Data shows that BTC L2 projects raised $94.6 million in Q2 2024, a quarter-over-quarter increase of 174%, reflecting strong expectations in the industry for BTC Layer2.

Currently, there are many BTC Layer2 solutions, but none have emerged as projects that are outstanding both technically and ecologically. This field is still in a competitive stage, and any quality project has the opportunity to become an industry leader. Among the many solutions, GOAT Network demonstrates enormous innovative potential, being the first BTC Layer2 project to adopt a decentralized sequencer and share network ownership, with the ultimate goal of becoming a universal L2 applicable to all L1.

GOAT Network Overview

GOAT Network enhances Bitcoin functionality by implementing Bitcoin Rollup, with network security derived from the underlying Bitcoin blockchain. It introduces the optimistic challenge protocol GOAT-OCP and leverages BitVM2 to ensure security, while employing ZKM interleaved Rollup as a universal settlement layer, which enhances transaction inclusiveness and finality. The decentralized sequencer further protects the stability of the network and the security of assets.

The testnet is about to be launched, and the mainnet is expected to go live in Q3 or Q4. The official will launch the GOAT Club points program to provide lasting value and fair sustainable rewards for Bitcoin holders of different scales.

Addressing the Three Major Challenges Faced by L2

GOAT Network has proposed effective solutions to the three major challenges of decentralization, security, and sustainable returns:

1. Decentralized Sorter: A decentralized sorter has been adopted since the mainnet launch, with an initial total of 7 sorter nodes, each required to stake BTC to protect the network. Currently, 5 founding sorter nodes have been confirmed, committing over 5,000 BTC, with a goal of reaching 8,000-10,000 BTC at launch.

2. Security: BTC assets are protected by enhanced time-lock and one-time signature technology in the first layer of Bitcoin applications. The zero-knowledge virtual machine zkVM developed in Layer2 applications ZKM implements the native security standards of the Bitcoin base layer.

3. Sustainable Revenue Model: The decentralized sequencer earns Gas fees in the form of BTC and mining rewards in the form of GOAT tokens by producing blocks, providing security, and being active around the clock. This provides various participants with the opportunity to obtain sustainable revenue.

General Layer2 Vision

The goal of the GOAT Network is to become a universal L2 for all L1s. Bitcoin is the first integrated ecosystem, and in the future, it will also include Ethereum, TON, Cosmos, and more. The project aims to achieve seamless connections between any L1 and L2, addressing issues of blockchain interoperability and decentralized liquidity, while avoiding the vulnerabilities of traditional third-party bridges.

By deploying the Entangled Rollup technology on L1 and L2 of various blockchains, the GOAT Network is able to aggregate transaction states, messaging, and ZKP from a source chain and verify them on another chain. This approach enables seamless messaging and asset transfer across networks without the need for third-party bridges, ensuring smooth network liquidity and asset security.

Team Strength

The GOAT Network team is made up of experienced professionals:

• The technical team leader Professor Stephen Duan previously founded Baidu Blockchain and Eigen Network.
• The head of economics, Redouane Elkamhi, is a professor of finance at the University of Toronto, specializing in strategic asset allocation, fund management, and DeFi.
• Chief Innovation Officer Dr. Eric Wang holds a Ph.D. in Computer Science from the University of Waterloo and designed the sustainable BTC yield model for GOAT.

The team members are long-term participants and innovators in the Web3 field, which enhances the project's credibility and future expectations.

Ecosystem Construction

GOAT Network is building an organic ecosystem. A series of key DeFi applications will be launched simultaneously when the mainnet goes live, including DEX, lending, Perp DEX, zero-fee trading platforms for BRC-20 and other Bitcoin-native assets, and even a MEME center.

GOAT Club Points Program

The GOAT Club points program offers early participants the opportunity to qualify for future airdrops. There are three types of points:

1. Community Points (CP): Hold 0.001 BTC to obtain long-term benefits and points.
2. Builder Points (BP): Based on TVL or gas consumption from smart contracts, or additional rewards obtained through the integration of the GOAT Club API.
3. Node Points (SP): Node operators earn points based on the blocks they produce, directly rewarding their contributions to network activity and security.

GOAT Network is expected to become a leading BTC Layer2 project, bringing more use cases and benefits to Bitcoin holders. With the mainnet launch imminent, we look forward to seeing how this innovative project drives the development of the entire Bitcoin ecosystem.