GOAT Network: An Innovative Solution for BTC L2

With the continuous evolution of the Bitcoin ecosystem, Layer 2 solutions built on BTC have become an important development direction in the Web3 space. Data shows that BTC L2-related projects raised $94.6 million in Q2 2024, representing a quarter-over-quarter growth of 174%, reflecting strong expectations in the industry for this field.

Among the numerous BTC Layer2 solutions, GOAT Network stands out with its innovation and potential. As the first BTC Layer2 project to adopt a decentralized sequencer and share network ownership across the board, GOAT Network's ultimate goal is to become a universal L2 solution for various L1s.

GOAT Network Overview

The GOAT Network expands the functionality of Bitcoin by implementing Bitcoin Rollup, with its security deriving from the underlying Bitcoin blockchain. The network introduces the optimistic challenge protocol GOAT-OCP and utilizes BitVM2 to ensure security, while adopting ZKM interleaved Rollup as a universal settlement layer to enhance transaction inclusivity and finality. The decentralized sequencer design further protects the network's stability and asset security.

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

Addressing the Three Major Challenges Facing L2

GOAT Network has proposed the following solutions to the three major challenges commonly faced by L2 networks: decentralization, security, and sustainable returns.

1. Decentralized Sequencer: GOAT will adopt a decentralized sequencer from the launch on the mainnet, initially having 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 GOAT Network applies an enhanced version of Bitcoin's time-lock and one-time signature technology to protect the locked BTC assets. On Layer 2, the zero-knowledge virtual machine zkVM developed by ZKM is utilized to ensure that the system meets the native security standards of the Bitcoin base layer.

3. Sustainable Revenue Model: Decentralized sequencers can earn 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 mechanism offers continuous revenue opportunities for various participants.

Universal Layer2 Vision

The goal of GOAT Network is to become a universal L2 for all L1s, with plans to integrate ecosystems like Ethereum, TON, Cosmos, and more in the future. Through its proprietary Entangled Rollup technology, GOAT Network aims to achieve seamless connections between different blockchains, addressing interoperability and liquidity fragmentation issues while avoiding the security risks associated with traditional third-party bridges.

Team Background

The team of GOAT Network consists of industry veterans. The technical team leader, Professor Stephen Duan, previously founded Baidu Blockchain and Eigen Network. The economics head, Redouane Elkamhi, is a finance professor at the Rotman School of Management at the University of Toronto, specializing in strategic asset allocation and DeFi. The Chief Innovation Officer, Dr. Eric Wang, holds a PhD in Computer Science from the University of Waterloo and designed GOAT's sustainable BTC yield model.

Ecosystem Construction

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

GOAT Club Points Program

The GOAT Club reward program provides early participants with the opportunity to qualify for future airdrops. The program includes three types of points:

1. Community Points (CP): Community members holding 0.001BTC can earn long-term rewards and points.
2. Builder Points (BP): Obtained based on the TVL or gas consumption of the smart contract, or through integration with the GOAT Club API.
3. Node Points (SP): Node operators earn points based on the blocks produced, directly rewarding their contributions to the network.

The innovative design and comprehensive ecosystem planning of the GOAT Network lay a solid foundation for its development in the BTC Layer2 field. With the mainnet about to launch, the GOAT Network is expected to become a leading project in BTC Layer2, bringing more utility and profit opportunities for Bitcoin holders.