Want to Earn More on Dogecoin? This Bitcoin Layer 2 Will Use DOGE to Generate Profits
The network has plans for additional future memecoin-based financial applications for users to earn “even greater rewards” for holding DOGE.
Bitcoin’s Layer 2, GOAT, will soon allow dogecoin (DOGE) users to stake their tokens for fixed BTC returns, with plans for additional memecoin-based financial applications later for users to earn “even greater rewards” on DOGE holdings.
The GOAT network, whose mainnet has yet to launch, has so far allowed users to lock up BTC to earn rewards from the network in a process colloquially known as staking. The network’s ecosystem, when built, will allow bitcoin holders to participate in various decentralized finance (DeFi), such as lending or trading, without giving up ownership of their assets.
In addition to its “long, colorful, and wildly successful history,” the GOAT Network team said it chose dogecoin for its strong “community vibe that now has a U.S. government agency named DOGE named after it” and because the coin is “ready for the next phase of its journey.”
“This way, Dogecoin investors can weather crypto volatility without having to hand over paper DOGE before its time comes, and in the process earn digital gold, which is now being adopted by corporations, institutions, and nation-states,” the team said in a statement shared with CoinDesk. “Therefore, by adding Dogecoin to its rapidly growing ecosystem, GOAT Network is positioning itself as the ‘home of the people’s coins.’”
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