Innovative Partnership Aims to Revolutionize Bitcoin Layer 2 with Enhanced Security and Sustainable Yield
SAN LEANDRO, CA / ACCESSWIRE / September 17, 2024 / GOAT Network, a Bitcoin Layer 2 network propelling the emerging field of BTCFi (Bitcoin Finance) with a framework for sustainable Bitcoin yield, today announced a strategic partnership with Pell, the first universal trust network powered by Bitcoin restaking.
This partnership combines GOAT Network's advanced L2 solution and sustainable BTC yield model with Pell's robust LRT decentralized token economy and security services. Together, the two protocols will create a more secure and scalable environment for Bitcoin-based decentralized finance.
"GOAT Network's goal is to transform Bitcoin from a passive asset to an active asset," said GOAT Network co-founder Kevin Liu. "Pell has emerged as a powerhouse in the world of Bitcoin restaking, and will play an integral role in enabling GOAT to transform Bitcoin into a dynamic asset that generates sustainable returns, while maintaining the highest levels of security."
Transforming BTCFi Through Partnership
BTCFi represents the next evolution of Bitcoin, bringing the asset from a passive store of value to a fully functioning financial ecosystem.
GOAT Network has been leading this transformation by building the first Bitcoin Layer 2 solution designed to offer sustainable Bitcoin yield directly in BTC. Through its decentralized sequencer nodes and Proof of Activity (PoA) mechanism, GOAT allows participants to earn yield while securing the network, unlocking unprecedented financial opportunities for BTC holders.
The partnership with Pell strengthens this vision by integrating Pell's multi-layered security framework into the GOAT Network ecosystem. Pell's decentralized token economy security leasing platform aggregates native BTC stake and restake services, ensuring that GOAT's BTCFi solutions are safeguarded by the most advanced cryptographic mechanisms available. As the first universal trust network powered by BTC restaking, Pell extends the cryptoeconomic security of BTC to any apps, on any chains.
Pell plugs the gap in ecosystem security, reduces cost to build decentralized applications and offers passive income for BTC holders. With over $300m in TVL and growing, Pell aims to become the largest shared liquidity and cryptoeconomic security platform for BTCFi and across all blockchain ecosystems.
With this integration, GOAT Network's decentralized sequencers will benefit from enhanced security protocols, allowing the system to scale securely and efficiently.
"We are very excited to partner with GOAT Network to explore possibilities and expand the boundaries of BTCFi," said Makoto, co-founder of Pell. "Both GOAT and Pell are committed to bringing real and sustainable yield to BTC. We can't wait to see the fruit this strategic partnership has to bear."
Unlocking Economic Opportunities for Bitcoin Holders
One of the key differentiators of GOAT Network is its ability to offer yield directly in BTC, a significant shift from traditional systems that rely on derivative tokens or volatile altcoins. By integrating Pell's security modules, GOAT will not only enhance its already robust decentralized sequencer model but also introduce a more secure and sustainable economic structure for BTC holders looking to generate returns.
Pell's advanced technology allows for the validation of various critical infrastructure components within the Bitcoin ecosystem, including oracles, cross-chain bridges, and data availability layers. These capabilities are essential for maintaining a secure and efficient BTC L2 network and will play a vital role in ensuring that GOAT Network's BTCFi ecosystem remains both scalable and secure.
About GOAT Network
GOAT Network is leading the transformation of Bitcoin into a fully functioning financial asset with its BTCFi ecosystem. By pioneering the first Bitcoin Layer 2 solution to offer sustainable Bitcoin yield, GOAT is empowering BTC holders to actively participate in decentralized finance while generating returns directly in Bitcoin. With a focus on sustainability, security, and decentralization, GOAT Network is redefining the future of finance.
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About Pell
Pell is a decentralized token economy security leasing platform that enhances cryptographic security within the Bitcoin ecosystem. By aggregating native BTC stake and LSD restake services, Pell provides a secure and scalable validation framework for a wide range of Bitcoin protocols and applications. Pell's solutions ensure that Bitcoin holders can securely engage in decentralized finance, fostering the sustainable growth of the Bitcoin economy. Pell will do for the Bitcoin network what EigenLayer has done for the Ethereum network.
Media Contact:
Colin Landers
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SOURCE: GOAT Network