GOAT Network: A Brand New Bitcoin Layer 2 Solution

With the continuous development of the Bitcoin ecosystem, the ecological construction around BTC has become an important trend in Web3 in recent years. Among them, Layer2 built on BTC is the most crucial part of BTC's ecological construction. Data shows that BTC L2 related projects raised nearly 100 million dollars in the second quarter of this year, a quarter-on-quarter increase of 174%, reflecting the strong expectations in the industry for BTC Layer2.

Currently, there are many BTC Layer2 solutions, but no project has emerged that excels 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 and attract a large number of users and funds.

Among the many BTC Layer2 solutions, GOAT Network demonstrates innovation and potential. It is the first BTC Layer2 project in the entire network to adopt a decentralized sequencer and share network ownership, with the ultimate goal of becoming a universal L2 for all L1s.

GOAT Network Overview

GOAT Network expands the functionality of Bitcoin by implementing Bitcoin Rollup, with the network's security deriving from the underlying Bitcoin blockchain. It introduces the optimistic challenge protocol GOAT-OCP and leverages BitVM2 to ensure security, as well as ZKM interleaved Rollup as a universal settlement layer, which can enhance transaction inclusivity and finality. At the same time, it employs a decentralized sequencer to protect the stability of the network, ensuring the security of the network's assets.

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

Addressing the Three Major Challenges Faced by L2

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

1. Decentralized Sequencer: GOAT will adopt a decentralized sequencer from the moment it goes live on the mainnet, with an initial total of 7 sequencer nodes, each requiring staking of BTC to secure the network. Currently, 5 founding sequencer nodes have been confirmed, committing over 5,000 BTC in liquidity.

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 locked BTC assets. On Layer 2, the zero-knowledge virtual machine zkVM developed by ZKM is applied, 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 round-the-clock activity. This mechanism offers various participants the opportunity to obtain sustainable revenue.

Universal Layer2 Vision

The goal of the GOAT Network is to become the universal L2 for all L1s. Bitcoin is the first ecosystem integrated into the GOAT Network, and there are plans to integrate other mainstream public chains in the future. The aim is to enable any L1 to seamlessly connect to any L2, addressing the interoperability and decentralized liquidity issues of blockchain, while avoiding the vulnerabilities of traditional third-party bridges.

The 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 multiple networks without the need for a third-party bridge, ensuring smooth liquidity across the entire network and the security of assets.

Team Background

The GOAT Network team is composed of industry veterans. The technical team leader, Professor Stephen Duan, previously founded Baidu Blockchain and Eigen Network. The head of economics, Redouane Elkamhi, is a finance professor at the Rotman School of Management at the University of Toronto, specializing in strategic asset allocation, fund management, 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.

GOAT Club Points Program

The GOAT Club points program is an opportunity for early participants in the GOAT Network, and point holders will be eligible for future airdrops. There are a total of three types of points:

• Community Points CP: Community members holding 0.001BTC can receive long-term benefits and points.
• Builder Points BP: Based on TVL or gas consumption from smart contracts, or obtained through integration with the GOAT Club API.
• Node Points SP: Node operators earn points based on the blocks they produce.

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.

With the upcoming launch of the GOAT Network mainnet, the industry anticipates that it will become a leading BTC Layer 2 project, providing BTC holders with more application scenarios and profit opportunities.