Another promising prospect in the Bitcoin DAPP ecosystem
The Zeus Network, responsible for the Solana-to-Bitcoin cross-chain bridge, is set to launch its Zeus Program Library (ZPL) by Q3 2024, aiming to connect the two ecosystems. According to Zeus Network, these ZPL-Assets will unlock various opportunities on Solana, including activities like DeFi, GameFi, SocialFi, DePIN, and more, which were previously challenging on the Bitcoin blockchain.
ZPL comprises Solana Virtual Machine (SVM) programs, enabling developers to integrate native Solana support into decentralized applications and facilitate transactions across multiple blockchains. Zeus Network emphasizes that ZPL-Assets can be either fungible (cryptocurrencies) or non-fungible (NFTs), representing a wide range of digital assets.
With a market cap of approximately $1.2 trillion and over 11,000 Runes generating over $135 million in fees within the first week on the Bitcoin blockchain, Zeus Network believes the potential for value transfer is immense.
Through ZPL and the bridging protocol Apollo, users can deposit their Bitcoin (BTC) and receive ZPL-wrapped zBTC tokens in return. These tokens can then be used for various activities within the Solana ecosystem, including decentralized exchanges, NFT marketplaces, borrowing, lending, gaming, and SocialFi.
Developers plan to expand ZPL-supported assets on Solana to include Bitcoin Runes and Ordinals, dubbed “zRuneX” and “zOrdX” respectively. Other tasks in the Q3 roadmap include enabling Bitcoin staking on the Apollo mainnet.
Zeus Network, backed by Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali, recently secured an $8 million funding round at a valuation of $100 million.
More on Runes and Ordinals
Bitcoin Runes, a new token standard released in April, expands the functionality of the Bitcoin blockchain by enabling users to tokenize various real-world assets such as real estate, stocks, commodities, or other cryptocurrencies like stablecoins.
Bitcoin Ordinals, another innovation, assigns a unique number to each satoshi, enabling tracking, transfer, and minting of unique assets on the Bitcoin blockchain.
There’s even more…
The Bitcoin decentralized application ecosystem is experiencing a revival with the invention of novel protocols. For instance, Orders Exchange recently completed integration with the Bitcoin Runes protocol, allowing the issuance of fungible tokens on the native network and constructing a Bitcoin asset bridge with MicroVisionChain for BRC-20 token swaps.
