Dogecoin News: DOGE Holders Can Earn Yields on This New Bitcoin Layer-2 Network

GOAT Network Extends Staking Beyond Bitcoin to Embrace Dogecoin

GOAT Network, a Bitcoin (BTC) Layer-2 scaling project, has announced that users will soon be able to stake Dogecoin (DOGE) to secure its upcoming network and earn crypto rewards. This strategic move extends the offerings of GOAT Network, which previously focused solely on the staking of Bitcoin.

GOAT Network's mission is to provide a sustainable yield model for Bitcoin holders. Users can currently lock up BTC to earn rewards, and soon, they will have the opportunity to engage in decentralized finance (DeFi) activities, such as lending and trading, without relinquishing ownership of their assets.

GOAT Network's decentralized sequencer model is distinct from the centralized methods used in traditional systems. Every sequencer node operator contributes to the security of the network and receives rewards in the form of network fees, block production, and transaction ordering.

GOAT Network aims to bring scalable yield to Bitcoin users through this model and offers rewards in BTC for securing its decentralized Layer 2 network. GOAT's design promises sustainability through its gas token model, where wrapped BTC fuels network transactions.

As the Bitcoin DeFi landscape evolves, GOAT Network's unique model positions it to capitalize on the growing demand for scalable, secure yield-generating platforms. The network has gained significant traction, with over 5,000 BTC pledged by external sequencer node operators, including Hashkey, Amber Group, and RockX.

The establishment of the GOAT Network mainnet will enable the development of a DeFi ecosystem, including a decentralized exchange (DEX), derivatives, and a zero-gas platform. These dApps will empower users to exchange Bitcoin-native assets like BRC-20 tokens, borrow and lend assets, and participate in a vibrant DeFi ecosystem.

GOAT Network's Support for Dogecoin Growth

Dogecoin has experienced a surge in value recently due to factors such as an Elon Musk transaction and the launch of the Department of Government Efficiency (D.O.G.E.). GOAT Network's decision to embrace DOGE is driven by the coin's strong community and its alignment with the goals of D.O.G.E.

GOAT Network believes that Dogecoin's unique "community vibe" makes it an ideal candidate for staking. This strategy aims to support Dogecoin investors through market volatility without forcing them to sell their assets. Instead, they can earn rewards in Bitcoin, which has gained widespread adoption among institutions and nations.