GOAT Network: Innovative Bitcoin Layer2 Solution

The continuous development and improvement of the Bitcoin ecosystem has made the ecological construction around BTC an important topic in the Web3 field in the past two years. Among them, Layer2 built on BTC has become the most critical part of BTC ecosystem construction. Data shows that in the second quarter of 2024, BTC L2-related projects raised 94.6 million USD in funding, a quarter-on-quarter growth of 174%, reflecting the strong expectations in the industry for BTC Layer2.

Currently, there are many BTC Layer2 solutions, but there are no projects that are excellent enough in both technology and ecology. This track is still in a highly competitive stage, and any quality project has the opportunity to become an industry leader, attracting a large number of users and funds.

Among the many BTC Layer2 solutions, GOAT Network demonstrates exceptional innovation and potential. As the first BTC Layer2 project in the entire network to adopt a decentralized sorter and share network ownership, its ultimate goal is to become the universal L2 for all L1.

GOAT Network Overview

GOAT Network expands the functionality of Bitcoin by implementing Bitcoin Rollup, with the security of the network deriving from the underlying Bitcoin blockchain. It introduces the optimistic challenge protocol GOAT-OCP and utilizes BitVM2 to ensure security, as well as ZKM woven Rollup as a universal settlement layer, thereby enhancing the inclusivity and finality of transactions. At the same time, a decentralized sequencer is employed to protect the stability of the network, ensuring the security of the network's assets.

The GOAT testnet is about to be launched, and the mainnet is expected to go live in the third or fourth quarter of this year. The official GOAT Club points program will provide lasting value and fair, sustainable rewards for Bitcoin holders of all sizes.

Addressing the Three Major Challenges Faced by L2

GOAT Network has proposed effective solutions to the challenges commonly faced by L2 networks, such as decentralization, security, and sustainable returns:

1. Decentralized Sorter: GOAT will adopt a decentralized sorter from the launch of the mainnet, initially there will be 7 sorter nodes, each of which needs to stake BTC to secure the network. Currently, 5 founding sequencer nodes have been confirmed, including some well-known blockchain infrastructure providers and asset management companies. These nodes have committed over 5,000 BTC in liquidity support, with a goal of reaching 8,000-10,000 BTC at launch.

2. Security: On the first layer of Bitcoin, GOAT Network applies an enhanced version of Bitcoin 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 used, giving the system 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 maintaining active presence around the clock. This mechanism offers various participants the opportunity to obtain sustainable income.

Become the universal Layer 2 for all L1s

The vision of GOAT Network is to become a universal L2 for all L1s. Bitcoin is the first ecosystem integrated into GOAT Network, and there are future plans to integrate Ethereum, TON, Cosmos, and others. Its goal is to enable any L1 to seamlessly connect to any L2, addressing the issues of blockchain interoperability and decentralized liquidity while avoiding the vulnerabilities of traditional third-party bridges.

GOAT Network deploys its internal Entangled Rollup technology on all blockchains' L1 and L2, aggregating transaction states, messaging, and ZKP from a source chain and verifying them on another chain. This approach enables messaging and asset transfers across many different networks without the need for a third-party bridge, ensuring smooth liquidity across the entire network and the security of assets.

Team Strength

The GOAT Network team consists of industry veterans. The technical team leader, Professor Stephen Duan, is the founder of 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. The Chief Innovation Officer, Dr. Eric Wang, holds a Ph.D. in Computer Science from the University of Waterloo and specializes in financial derivatives pricing, dynamic asset allocation, risk management, and DeFi.

Ecosystem Construction

The GOAT Network is building an organic ecosystem. At the launch of the mainnet, several key DeFi programs will be launched simultaneously, including DEX, lending, Perp DEX, BRC-20, and trading platforms for other Bitcoin native assets.

The GOAT Club points program offers early participants the opportunity to qualify for future airdrops. The program includes three types of points: Community Points (CP), Builder Points (BP), and Node Points (SP), each targeting different types of participants.

With the upcoming launch of the GOAT Network mainnet, the industry is full of expectations about whether it can become the leading project for Bitcoin Layer2, promising to bring more application scenarios and profit opportunities for Bitcoin holders.