GOAT Network is the latest addition to the ZKM ecosystem. It is the first universal Bitcoin Layer-2 (L2) with shared network ownership, making Bitcoin DeFi more scalable, efficient, and inclusive.
Unlike other Bitcoin L2s where a foundation or business entity is ultimately in control, GOAT implements a decentralized sequencer model. This ensures a fair and distributed network structure with greater security and efficiency — perfectly aligned with the Bitcoin ethos.
GOAT inherits the security of the Bitcoin Layer-1 (L1) using ZKM’s Entangled Rollup innovation. It allows the network to share native bitcoin (BTC) without any additional security assumptions.
Miners, stakers, and other GOAT Club members can also earn real BTC yield via the network’s long-term, sustainable points/rewards program.
Given its robust technical framework and first mover advantage, GOAT is set to revolutionize Bitcoin DeFi. Besides fostering dApp innovations, it will ensure optimal value accrual for native BTC.
Real yield makes BTC a ‘productive’ asset
Most L2 reward programs distribute yield in non-native ‘token’ assets. These might have mooning potential but are also highly likely to go to zero.
GOAT Network, however, puts real BTC in the community’s hands, fostering true financial empowerment. It also unleashes native BTC’s productive value this way.
Given its decentralized sequencer model, GOAT lets Club members earn BTC rewards through sequencer mining. More on this below.
GOAT’s circular network economy ensures a virtuous value creation and accumulation cycle. Both for the network and Club/community members.
Users pay network fees in a wrapped-BTC token. So more transactions means more BTC-denominated gas fees and thus more BTC rewards for miners, etc.
To offer consistent rewards under this framework, GOAT has allocated 42% of its lifetime token supply for sequencer mining and community rewards.
This eliminates the risks of bots and farmers gobbling up the entire reward pool — a common problem for one-time points campaigns. No other Bitcoin L2 has adopted a similar, long-term approach so far. But it is a great way to provide miners, holders, etc. with a consistent income stream.
GOAT is optimized for performance and inclusivity. It will serve the full spectrum of Bitcoin stakeholders. From miners and institutional node operators to HODLers and enthusiasts.
Plus, devs can build a broad range of applications, including DEXs, lending/borrowing protocols, perpetual swaps, gas-free trading platforms, etc. — the possibilities are endless.
Community rewards & GOAT Club points
GOAT is nothing without its community.
Thus the GOAT Club Points Program, where BTC holders, builders, sequencer nodes, and other community members can earn points through in-platform activities. These points are redeemable for rewards and will come handy during future airdrops.
The program has three main point categories:
- Community Points (CP) — Community members, especially BTC holders, can earn Community Points (CP) by participating in whitelisting campaigns and mainnet events. The requirements can be as simple as connecting their BTC wallet or following GOAT on social media.
- Builder Points (BP) — Builders can earn under this category via co-point campaigns. They can get points for the TVL or gas consumption of their smart contract. Or they can integrate the GOAT Club API with custom point systems to earn additional rewards on users’ mainnet activity.
- Sequencer Points (SP) — Miners and sequencer node operators can earn points based on the blocks they produce. This ensures direct rewards for their contributions to the network’s liveness and security.
Users can start collecting points by simply connecting their BTC wallets.
Those who have an invitation code can use it in the next step. Invitations are a key element of the GOAT Club. Users can earn 10% of the points an invitee earns after joining with their code.
For example, if an invitee gets 100 points, the referring user earns 10 points. Before the mainnet launch, onboarding new GOAT Club members will be the primary points source. But later, it will apply to bridging BTC to GOAT, delegating BTC to sequencers, dApp interactions, etc.
Following GOAT on social media is the final step to start earning points from the program. Moreover, it will help users get timely alpha, so they won’t miss out on opportunities to maximize their point earnings.
GOAT List — The way to start earning points in Phase 1
Users’ GOAT Network journey begins with the GOAT List, the core activity in the first phase of the points program.
It allows users to become early adopters by ‘pledging’ BTC to various decentralized sequencer nodes listed on the network.
Notably, pledging does not involve actual transactions, so users can get started in a risk-minimized way and scale as the network grows.
As long as a user has 0.001 BTC in their connected wallet, they can start earning GOAT Club points by clicking on ‘Join Now’ and pledging BTC.
After submitting the pledge, users can start tracking their points and rewards on the unified GOAT Club dashboard. It’s another representation of the network’s focus on offering a seamless and intuitive UX that users will love and enjoy.
By pledging their support for the decentralized sequencer model, early GOAT Club members will play a crucial role in the network’s development and evolution. They can also provide feedback through social channels, etc., further contributing to the platform’s solid foundation.
In Phase 2 and beyond, GOAT will introduce many more exciting activities and revenue streams as part of the points program. All relevant information will be available on the project’s social media as and when.
What’s next for the GOAT Network?
GOAT’s mainnet launch is scheduled for Fall 2024. Institutional adopters have already pledged 5000 BTC in pre-launch pledges.
Phase 2 of the points program will also begin post-mainnet launch. Plus various dApps and protocols will go live, boosting the network’s overall utility and usability for end-users.
Bitcoin DeFi is about to enter a truly decentralized and community-oriented paradigm with GOAT Network. And those who join early will reap the maximum benefits.
