GOAT Network, a layer-2 project on Bitcoin, has just announced plans to allow users to stake Dogecoin (DOGE) to support security for the upcoming network. Participants will receive rewards in Bitcoin (BTC) and GOAT Network tokens, expected to launch in early December.
Details About GOAT Network
This project is designed to improve the scalability and performance of $BTC . According to Kevin Liu, co-founder of Metis and Core Contributor of GOAT Network, the network’s security model will leverage multiple asset types, including both Bitcoin and Dogecoin.
“Bitcoin is the natural choice, but our model supports many other assets,” Liu shared.
Featured Features
• Staking Dogecoin: Users can lock $DOGE to participate in securing the network and earn rewards.
• Attractive Rewards: Besides Bitcoin, users will also receive GOAT Network tokens and a Mining Rewards Rate of up to 30% during the launch phase.
• Decentralized Governance: GOAT Network applies a “decentralized sequencer” model, distributing control among multiple individuals and organizations, rather than concentrating it in a single governing body.
Dogecoin – A Highly Potential Choice
The reason GOAT Network chose Dogecoin is due to its high decentralization and a large market capitalization of up to 59 billion USD. Additionally, Elon Musk, who has consistently supported Dogecoin, has also contributed to the popularity of this cryptocurrency.
Promising Project
GOAT Network claims to have commitments from organizations holding approximately 5,000 Bitcoin to operate nodes on the network. Upon launch, this ecosystem will include a leading decentralized exchange (DEX) along with DeFi applications related to lending and staking.
Conclusion
Staking Dogecoin on GOAT Network opens up a new opportunity for Dogecoin investors, supporting Bitcoin's layer-2 network while earning attractive rewards. GOAT Network hopes to make a major breakthrough in the DeFi space with its decentralized and innovative model.
