GOAT Network: The Ultimate BTC Layer2 Solution

With the continuous development of the Bitcoin ecosystem, the ecological construction around BTC has become an important narrative of Web3. Layer 2 built on BTC is an indispensable key link in this ecosystem. Data shows that BTC L2 projects raised $94.6 million in Q2 2024, a quarter-on-quarter growth of 174%, reflecting the strong expectations for BTC Layer 2 in the industry.

Currently, there are many BTC Layer 2 solutions, but no project has emerged that is excellent enough in both technology and ecology. This track is still in the competitive stage, and any high-quality project has the opportunity to become a leader.

GOAT Network is an innovative and promising BTC Layer2 project that utilizes a decentralized sequencer to share network ownership. Its 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 derived from the underlying Bitcoin blockchain. It introduces the optimistic challenge protocol GOAT-OCP, utilizing BitVM2 to ensure security, and uses ZKM interleaved Rollup as a universal settlement layer, enhancing transaction inclusivity and finality. At the same time, it employs a decentralized sequencer to protect network stability and asset security.

The GOAT testnet is about to launch, with the mainnet expected to go live in Q3 or Q4. The official will introduce the GOAT Club points program, providing lasting value and fair sustainable rewards for BTC holders.

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 Sequencer: GOAT has adopted a decentralized sequencer since the first day of its mainnet launch, with an initial 7 sequencer nodes, each required to stake BTC to secure the network. 5 founding sequencer nodes have been confirmed, committing over 5,000 BTC for liquidity at launch.

2. Security: BTC assets are protected by time-locking and one-time signature technology enhanced 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, showcasing its ambition and foresight. Bitcoin is the first integrated ecosystem, and in the future, it will also include Ethereum, TON, Cosmos, etc. GOAT aims to enable seamless connections from any L1 to any L2, addressing the issues of blockchain interoperability and decentralized liquidity.

By deploying internal Entangled Rollup technology on all L1 and L2 of the blockchain, GOAT Network enables message passing and asset transfer across multiple networks without the need for third-party bridges, ensuring smooth network liquidity and asset security.

Team Strength

The GOAT Network team is composed of experienced professionals:

• The technical team leader Professor Stephen Duan has 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, 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 revenue model for GOAT.

The team members are long-term participants and innovators in the Web3 field, enhancing the credibility and future prospects of GOAT.

Ecosystem Construction

GOAT Network is building an organic ecosystem. A series of key DeFi programs 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, even including MEME center and so on.

GOAT Club Points Program

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

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

The innovative technology, decentralized philosophy, and comprehensive ecosystem development of GOAT Network give it the potential to become a leading BTC Layer 2 project, bringing more use cases and benefits to BTC holders.