【0撸】Public chain testnet activity in BTC Layer2 track---Zulu Network
1. What is Zulu Network
Zulu Network is a Bitcoin-based Layer2 solution that uses a two-layer architecture to expand the functionality of the Bitcoin network:
ZuluPrime (L2): Leveraging the Ethereum Virtual Machine (EVM) to take BitFi (Bitcoin DeFi) to a new level. This layer enables Bitcoin to interact with Ethereum smart contracts, bringing more DeFi features and applications to the Bitcoin ecosystem.
ZuluNexus (L3): Expanding Bitcoin's native functionality through UTXO (unspent transaction output) innovations. The goal of this layer is to provide a higher level of scalability and performance, allowing the Bitcoin network to handle more transactions and support more complex functions while maintaining its security and decentralization.
2. Project Financing
Bitcoin Layer 2 project Zulu Network recently completed a $3 million seed round of financing.
This financing attracted the participation of a series of well-known investors, including Web3.com Ventures, CGV FoF, D11-Labs, CatcherVC, SatoshiLabs, K24 Ventures, Waterdrip Capital, Jingle Mining, etc.
III. Project Token Economics
Zulu Network's total token supply and maximum supply are $1 billion ZULU.
In terms of governance, users holding $ZULU tokens will have voting rights for later network governance decisions.
In terms of staking, users holding $ZULU tokens will also have voting rights for network governance decisions and can choose to stake their tokens to participate in the operation of the network.
In addition, $ZULU holders can choose to entrust their tokens to collectors or stake $ZULU to enhance the security of the network.
In terms of transaction fees, ZuluPrime and ZuluNexus networks will use $ZULU tokens to pay transaction fees.
Finally, $ZULU tokens play the role of native liquidity and collateral in the Zulu ecosystem.
