According to Cointelegraph: Solana-to-Bitcoin Cross-Chain Bridge Set to Launch in Q3 2024
Zeus Network, a cross-chain bridge between Solana and Bitcoin, plans to introduce its Zeus Program Library (ZPL) in Q3 2024 to connect the two ecosystems. The move will empower Bitcoin holders to participate in Solana's thriving DeFi space.
In a statement issued on May 1, Zeus Network said, "These ZPL-Assets unlock a world of opportunities on Solana, facilitating activities like DeFi, GameFi, SocialFi, DePIN, and more, which were previously challenging on the Bitcoin blockchain."
The ZPL is a suite of Solana Virtual Machine (SVM) programs that permit developers to offer native Solana support within their decentralized applications, powering transactions across multiple blockchains. As Zeus Network stated, “ZPL-Assets can be either fungible (cryptocurrencies) or non-fungible (NFTs), representing a wide range of digital assets... With a market cap of approximately 1.2 trillion dollars... the potential for value transfer is immense.”
Through the ZPL and Apollo bridging protocol, users can deposit their Bitcoin (BTC) and receive ZPL-wrapped zBTC tokens in return. These tokens can be utilized within the Solana ecosystem to interact with decentralized exchanges, NFT marketplaces, and other facets of DeFi.
Zeus Network's forthcoming plans include providing support for Bitcoin Runes and Ordinals (referred to as “zRuneX” and “zOrdX”) on Solana and enabling Bitcoin staking on the Apollo mainnet. Backed by Anatoly Yakovenko (co-founder of Solana) and Muneeb Ali (co-founder of Stacks), Zeus Network raised $8 million in funding at a $100 million valuation in April.
Bitcoin Runes is a novel token standard that amplifies Bitcoin blockchain's functionality, allowing the tokenization of numerous assets. Bitcoin Ordinals, on the other hand, assigns a unique number to each satoshi, facilitating the tracking and minting of unique assets on Bitcoin's blockchain. Such innovations indicate a revival in Bitcoin's decentralized application ecosystem.
