Previously, there were legendary VC projects like Babylon and Bouncebit, and later EOS created a Bitcoin Layer 2. Now, the co-founder of Metis is also getting involved in Bitcoin scaling solutions.
Unlike other L2s, GOAT allows staking of assets other than BTC, such as Dogecoin. They hope to attract a large number of MEME users to enter the Bitcoin ecosystem, ultimately establishing a MEME gathering place.
When Bitcoin was first born, BTC was regarded by developers on many forums as a MEME, praised by people for concepts like Satoshi Nakamoto, decentralization, and digital gold.
When the market was fervently discussing projects like Solana, Dogecoin, and other bottom-recovering projects, Kevin, the co-founder of the Metis team, was also contemplating how to bring holders of other chains into the Bitcoin ecosystem, as it was underestimated by the market.
Against this backdrop, Kevin, the co-founder of the Metis team, decided to launch the GOAT Network and introduce various chain MEME coins into the staking route to create Bitcoin Rollup.
The former is similar to Ethereum's OP Rollup and SVM on Solana, both leveraging L1 itself to gain security, thereby introducing relatively mature protocols for settlement, which is the GOAT Network.
Kevin, the head of economics promoting this project, is also a successful serial entrepreneur in the industry, having been an important force behind last year's hundredfold Metis and ZKM, so he is very familiar with areas like staking and public chains. He is also the target of daily investment inquiries from various VCs.
The project is currently in the developer onboarding stage, and it will also launch Dogecoin staking. Unlike other projects, this staking can yield BTC earnings in real-time without the need to accumulate points and wait for the final airdrop.
From the information displayed on the official website, the project team has reserved a considerable amount of token airdrop shares for developers to incentivize them to deploy related applications on the network.
In terms of market capitalization estimation, since GOAT has not yet disclosed its funding camp, based on the initial market value of Metis previously launched and the situation of several competitors in the market, GOAT's market capitalization is expected to be between 500 million and 1 billion.
Currently, potential competitors in the unlaunched token camp include: Babylon, B2, Bitlayer, and exSat, all of which have relatively high valuations.
In terms of expectations, there are mainly several:
1. The first staking opening
2. The launch of the Alpha mainnet
3. The announcement of financing information
4. Exchange interest before the mainnet launch
Market reactions can be observed based on these expectations.
Currently, the Bitcoin ecosystem is like the eve of a rebound in the Ethereum ecosystem, with various institutions and project teams prepared, all waiting for market rotation and the arrival of a true altcoin bull. Although the launch of GOAT Network has many competitors in the market, it is still a relatively noteworthy and attention-worthy target.
