Key Takeaways:
- Zeus Network’s Upcoming ZPL: Set for a Q3 2024 launch, the Zeus Program Library (ZPL) will enable a cross-chain bridge between Solana and Bitcoin, integrating DeFi capabilities for Bitcoin on Solana’s ecosystem.
- ZPL Functionalities and Assets: The ZPL will allow developers to use Solana Virtual Machine programs for creating dApps that can operate with both fungible and non-fungible assets across multiple blockchains.
- Expanding Bitcoin’s Use Cases: With innovations like Bitcoin Runes and Ordinals, and the introduction of zBTC tokens through the Apollo protocol, the ZPL is set to enhance the utility of Bitcoin in the decentralized finance space.
The cryptocurrency landscape is poised for a significant evolution as the Zeus Network announced plans to launch its Zeus Program Library (ZPL) by Q3 2024, facilitating a cross-chain bridge between Solana and Bitcoin.
This development aims to bridge the gap between the two major blockchain ecosystems, enhancing Bitcoin holders’ ability to interact with decentralized finance (DeFi) on Solana.
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— Zeus Network ⛈️ (MUSES) (@ZeusNetworkHQ) May 1, 2024
Empower your native Bitcoin asset with ZPL, making it fast and seamless on Solana ⛈️
The Zeus Program Library (ZPL) is a set of programs that revolutionize how you engage with Bitcoin assets on Solana, seamlessly introducing assets like $BTC, Runes, and Ordinals as… pic.twitter.com/ZoOfjmzUPE
On May 1, Zeus Network highlighted the capabilities of ZPL-Assets in unlocking new possibilities within Solana’s diverse applications, including DeFi, GameFi, SocialFi, DePIN, and more.
These functionalities are designed to overcome the limitations traditionally associated with the Bitcoin blockchain.
The ZPL consists of a collection of Solana Virtual Machine (SVM) programs, enabling developers to seamlessly integrate native Solana functionalities into decentralized applications (dApps) and facilitate transactions across various blockchains.
🚨 BREAKING: @ZeusNetworkHQ Network introduces ZPL (Zeus Program Library) to enhance connectivity between Bitcoin and @solana.
— SolanaFloor | Powered by Step Finance (@SolanaFloor) May 1, 2024
ZPL will enable users to access native Bitcoin assets on Solana as ZPL-Assets like $zBTC via APOLLO. pic.twitter.com/7Atf26RIbV
“ZPL-Assets can be either fungible (cryptocurrencies) or non-fungible (NFTs), representing a wide range of digital assets,” Zeus Network explained.
With the Bitcoin market cap reaching approximately $1.2 trillion and over 11,000 Runes generating more than $135 million in fees within their first week on the Bitcoin blockchain, the introduction of the ZPL and its associated bridging protocol, Apollo, opens up substantial value transfer opportunities.
Through Apollo, users can deposit Bitcoin and receive ZPL-wrapped zBTC tokens.
These tokens can be utilized across a range of Solana-based platforms, including decentralized exchanges, NFT marketplaces, and SocialFi applications.
Looking ahead, Zeus Network plans to expand the range of ZPL-supported assets to include Bitcoin Runes and Ordinals, with new offerings like zRuneX and zOrdX.
Additionally, the roadmap for Q3 includes enabling Bitcoin staking on the Apollo mainnet.
The introduction of native Bitcoin staking on Solana has the potential to be a significant catalyst for surpassing Ethereum in the long run.
— Zeus Network ⛈️ (MUSES) (@ZeusNetworkHQ) December 24, 2023
If 'Apollo' on Zeus Network can offer native and permissionless BTC staking on Solana, one may question the necessity of WBTC (Wrapped…
Supporting the initiative are notable figures such as Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali.
Recently, on April 8, Zeus Network successfully raised $8 million in funding, bringing its valuation to $100 million.
We are thrilled to share the exciting news that Zeus Network has secured $8 million in funding, valuing our cross-chian product at an impressive $100 million; lead by @MechanismCap and many other quality VCs
— Zeus Network ⛈️ (MUSES) (@ZeusNetworkHQ) April 4, 2024
This significant milestone marks a pivotal moment in our journey as we… pic.twitter.com/3VgGx4ksxC
The release of Bitcoin Runes in April introduced a new token standard that enhances the Bitcoin blockchain’s functionality, enabling the tokenization of various real-world assets.
Meanwhile, Bitcoin Ordinals (a.k.a Bitcoin NFTs) create a unique numbering system for each satoshi, allowing for the tracking, transfer, and creation of unique assets on the blockchain.
This innovation wave is revitalizing the Bitcoin decentralized application ecosystem, as seen with recent integrations such as the Orders Exchange with the Bitcoin Runes protocol and a new asset bridge by MicroVisionChain for BRC-20 token swaps.
About The Author
Victor Fawole, a seasoned Web3 content creator and social media influencer, excels in bringing the pulse of the crypto world to our readers.
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