3 hours ago
Bitcoin layer-2 web GOAT volition soon fto dogecoin (DOGE) users involvement their tokens to gain fixed yields successful BTC, with plans for further memecoin-based fiscal applications aboriginal for users to gain “even greater rewards” connected DOGE holdings.
GOAT Network, whose mainnet is yet to beryllium released, has truthful acold fto users fastener up BTC to gain web rewards successful a process colloquially called staking. The network’s ecosystem — erstwhile built — volition fto bitcoin holders enactment successful assorted decentralized concern (DeFi), specified arsenic lending oregon trading, without giving up ownership of their assets.
DOGE prices person much than doubled successful the past 30 days connected an <a href="https://www.coindesk.com/markets/2024/11/10/dogecoin-flips-xrp-as-elon-musk-linked-trade-keeps-on-giving/" target="_blank">Elon Musk-linked trade</a> and the virality of non-governmental bureau Department of Government Efficiency (D.O.G.E.)
Besides its “long, colorful, and wildly palmy history,” the GOAT Network squad said it chose dogecoin for its beardown “community vibe that has present a U.S. authorities bureau called D.O.G.E. named aft it,” and the coin being “ready for the adjacent signifier of its journey.”
“This way, Dogecoin investors tin upwind the volatility of crypto without paper-handing DOGE earlier its clip has travel and, successful the process, gain integer gold, which is present being adopted by corporations, institutions, and nation-states,” the squad said successful a merchandise shared with CoinDesk. “So, by adding Dogecoin to its rapidly-growing ecosystem, GOAT Network is positioning itself arsenic the ‘home of The People’s Coins.”
Bitcoin DeFi has surged successful the past months connected assorted catalysts. Just a period ago, the full worth locked (TVL) successful the abstraction was adjacent $900 million, which has present surged past $4 billion, per DefiLlama data.
GOAT Network uses a strategy (called a sequencer) wherever transactions are sorted and grouped disconnected the main blockchain earlier being sent determination for last processing. To run a node successful this system, an entity needs to fastener up astatine slightest 100 BTC. However, those with smaller holdings tin inactive nexus their assets to a sequencer to assistance tally the web and gain yields.
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