GOAT Network: An Innovative Solution for BTC Layer2

With the continuous development of the Bitcoin ecosystem, Layer 2 solutions built on BTC have become a crucial part of ecological construction. Data shows that BTC L2 related projects raised $94.6 million in Q2 2024, a quarter-on-quarter increase of 174%, reflecting strong expectations within the industry for BTC Layer 2.

Currently, there are many BTC Layer 2 solutions, but there hasn't been a project that is excellent enough in both technology and ecosystem. In this competitive arena, any quality project has the opportunity to become a leader, attracting the majority of users and funds.

GOAT Network is an innovative and promising BTC Layer2 project that utilizes a decentralized sorter and a model of shared network ownership. Its ultimate goal is to become a universal L2 for all L1s.

GOAT Network Overview

GOAT Network expands Bitcoin functionality by implementing Bitcoin Rollup, with network security sourced from the underlying Bitcoin blockchain. It introduces the optimistic challenge protocol GOAT-OCP, leveraging BitVM2 to ensure security, and uses ZKM intertwined Rollup as a universal settlement layer to enhance transaction inclusivity and finality. Meanwhile, a decentralized sequencer is employed to ensure network stability and asset security.

The GOAT testnet is about to be launched, with the mainnet expected to go live in Q3 or Q4. The official GOAT Club point program will be introduced to provide lasting value and fair, sustainable rewards for all types of BTC holders.

Addressing the Three Major Challenges Faced by L2

The GOAT Network has proposed effective solutions to the common challenges faced by L2, such as decentralization, security, and sustainable returns.

1. Decentralized Sorter: GOAT has adopted a decentralized sequencer since its mainnet launch, initially featuring 7 sequencer nodes, each required to stake BTC to secure the network. Currently, 5 founding sequencer nodes have been confirmed, including several well-known institutions, committing over 5,000 BTC for liquidity at launch.

2. Security: On the first layer of Bitcoin, the enhanced version of the GOAT Network application protects locked BTC assets with time-locking and one-time signature technology. In Layer 2, it uses the zero-knowledge virtual machine zkVM developed by ZKM to ensure the system has the native security standards of the Bitcoin base layer.

3. Sustainable Income 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 offers various participants the opportunity to achieve sustainable returns and creates a new BTC bond market.

Become the universal Layer2 for all L1

The vision of GOAT Network is to become a universal L2 for all L1s, showcasing its ambition and foresight. Bitcoin is the first integrated ecosystem and plans to connect with Ethereum, TON, Cosmos, and others in the future.

Through the internal Entangled Rollup technology, the GOAT Network aims to solve the problems of blockchain interoperability and decentralized liquidity without relying on traditional third-party bridges, thereby improving security and efficiency.

Team Strength

GOAT Network has an experienced team:

• The technical team leader Professor Stephen Duan previously founded Baidu Blockchain and Eigen Network.
• The head of economics, Redouane Elkamhi, is a finance professor at the Rotman School of Management, University of Toronto, specializing in strategic asset allocation and DeFi.
• Chief Innovation Officer Dr. Eric Wang holds a PhD 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, providing a solid foundation for the project's development.

Ecosystem Development

GOAT Network is building an organic ecosystem. Multiple key DeFi applications will be launched simultaneously with the mainnet, including DEX, lending, Perp DEX, BRC-20, and a zero-fee trading platform for other Bitcoin-native assets.

GOAT Club Points Program

To encourage early participation, the GOAT Network has launched the GOAT Club points program, which includes three types of points:

1. Community Points (CP): Hold 0.001BTC to earn long-term rewards and points.
2. Builder Points (BP): Rewards based on TVL or gas consumption through smart contracts.
3. Node Points (SP): Node operators earn points based on the blocks produced.

Token holders will be eligible for future token airdrops.

The innovative solutions and comprehensive ecosystem development of GOAT Network are expected to make it a leading BTC Layer2 project, bringing more application scenarios and revenue opportunities for Bitcoin holders.