Good news for Dogecoin users comes from the layer-2 Bitcoin network GOAT. Accordingly, the GOAT Network team has announced that they will soon allow Dogecoin (DOGE) users to stake their tokens to earn fixed BTC returns.
According to Coindesk, GOAT will soon offer Dogecoin investors the opportunity to earn fixed returns in BTC by staking DOGE.
The team also noted that they are planning to roll out more memecoin-based financial applications in the future, allowing users to earn “even larger rewards” from their DOGE holdings.
The GOAT Network team said Dogecoin was chosen because of its long, colorful, and incredibly successful history, as well as its strong community and bullish outlook after being named after a US government agency called DOGE.
“Dogecoin investors can withstand the volatility of the cryptocurrency without having to sell paper DOGE before it expires and in the process, earn Bitcoin – the digital gold that is now being adopted by companies, institutions and countries.
That's why we're adding Dogecoin to our rapidly growing ecosystem.”
The GOAT network, whose mainnet has yet to be released, works by allowing users to lock up BTC and earn network rewards, a process commonly referred to as staking.
Dogecoin price has increased by 145% in the past month due to the spread of Department of Government Efficiency (DOGE), a non-governmental organization affiliated with Elon Musk.
