What is Zeus Network? Solution to connect Solana to the Bitcoin network
1. What is Zeus Network?
The Zeus Network represents a blockchain framework founded upon the SVM virtual machine, fostering the seamless deployment of decentralized applications (DApps) on the Solana platform for Bitcoin integration. With a primary objective of facilitating effortless interaction between decentralized applications, Zeus Network offers users convenient and secure access to decentralized applications across both Solana and Bitcoin ecosystems.
Additionally, the project’s development team has initiated the creation of the inaugural dApp within its ecosystem, known as Apollo. This platform enables users to engage in BTC staking activities for potential profitability. Presently, the project has unveiled its public testnet, inviting users to actively participate and gain firsthand experience with the platform.
2. The architecture of Zeus Network
The Zeus Network operates without the need for bridges between blockchains. This means that liquidity provided on one blockchain does not directly affect liquidity on another blockchain, and assets on each blockchain are protected by specific protocols.
In the context of Bitcoin, Zeus Network acts as a crucial intermediary layer, blending Solana’s speed and scalability with Bitcoin’s reliability and liquidity. It enables developers to create various applications and services that seamlessly bridge the gap between Solana and Bitcoin without encountering any obstacles.
3. Zeus Network’s ecosystem
The ecosystem of Zeus Network comprises several key components:
- Native Stake / Wrap Bitcoin with Solana DeFi Yield: This feature allows users to deposit Bitcoin and receive a Solana-based equivalent called “Wrapped Bitcoin.” It enables participation in decentralized finance (DeFi) projects and the earning of yields.
- Liquidity Tranche of Bribery System: This system provides flexible liquidity arrangements to facilitate transactions and projects within the Zeus Network ecosystem.
- Native Bitcoin Collateral Stablecoin on Solana: This entails the creation of a stablecoin pegged to Bitcoin on the Solana blockchain, enhancing liquidity and enabling the use of financial services.
- Native & Cross-Chain NFT tools between Bitcoin and Solana: These tools facilitate the seamless exchange and management of non-fungible tokens (NFTs) between the Bitcoin and Solana blockchains, supporting decentralized asset development and management.
- Native & Borrow / Lending from Bitcoin layers to Solana: This functionality allows users to borrow and lend assets between Bitcoin layers and the Solana blockchain, thereby increasing flexibility and financial utility across both blockchains.
4. Team
The Zeus Network team consists of several key members:
- Justin Wang: He founded Zeus Network and possesses significant experience in blockchain technology. Justin Wang is also known as the founder of the NFT collection Dappie Gang.
- Dean: Serving as an engineer at Zeus Network, Dean brings 7 years of expertise in Bitcoin technology. He has notably achieved top rankings in various hackathons focusing on blockchain and Bitcoin development.
5. Partners and Investors
The project secured a successful funding round of $8 million, with a valuation of $100 million, spearheaded by the Mechanism Capital fund. Noteworthy investors include Okx Ventures, Animoca Brands, Big Brain Holding, Lemnicap, Spartan, and Anatoly Yakovenko.
Additionally, significant contributions have been made by esteemed individual investors within the industry:
- Anatoly Yakovenko: Co-Founder of Solana Labs.
- Andrew Kang: Founder of the investment fund Mechanism Capital.
- Muneeb Ali: Co-creator of Stacks and CEO of Trust Machines.
6. Tokenomics
6.1. Key metrics
- Token Symbol: ZEUS
- Max Supply: 1,000,000,000 (1B)
- Initial Circulating Supply: 167,500,000 (16.75%)
6.2. Token allocation
- Early Backers: 10%
- Jupiter Launchpad: 5%
- Ecosystem và Community Growth: 40%
- Foundation Reserve: 20%
- Team: 15%
- Liquidity: 5%
- Advisors: 5%
TGE:
- Ecosystem and Community Growth: 10% TGE
- Foundation Reserve: 10% TGE
- Team: 0% TGE
- Early Backers: 5% TGE
- Launchpad: 100% TGE
- Advisors: 5% TGE
- Liquidity: 100% TGE
6.3. Token distribution
The token distribution plan for Zeus Network follows a structured approach spanning different categories:
- Ecosystem and Community Growth: Tokens are distributed over a 24-month period with a linear progression to support the growth and development of the network’s ecosystem and community.
- Foundation Reserve: Similar to ecosystem and community growth, tokens from the foundation reserve are distributed over a 24-month timeline with a linear ratio to ensure the sustainability and stability of the network’s foundation.
- Team: Tokens allocated for the team are subject to a 15-month lock-up period followed by distribution over the subsequent 15 months. This approach aims to incentivize team members while ensuring their long-term commitment to the project.
- Early Backers: Tokens reserved for early backers undergo a 3-month lock-up period, after which they are gradually distributed over the next 15 months. This strategy encourages early support and investment in the project.
- Advisors: Advisors’ tokens are locked for 6 months, followed by distribution over the following 15 months. This ensures that advisors remain engaged with the project and contribute to its success over an extended period.
6.4. Token use cases
- Security Enhancement: Token holders can utilize $ZEUS tokens to enhance security features within the network, promoting a secure environment for transactions and interactions.
- Access to Services: $ZEUS tokens act as a medium for accessing various services within the ecosystem, such as transaction fee payments, smart contract execution, and specific network features.
- Governance Participation: Holders of $ZEUS tokens have the privilege to participate in governance decisions concerning the network’s development and direction. This includes voting on proposals, protocol upgrades, and other significant decisions affecting the ecosystem.
- Incentive Mechanism: Participants contributing to the Zeus Network ecosystem may receive incentives in the form of $ZEUS tokens. These incentives can be earned by providing liquidity, collateralizing tokens, or engaging in community activities.
7. Roadmap
Development Roadmap:
2024 Q2: Muses Upgrade
During this phase, Zeus Network focuses on developing Zeus Node to ensure network operation and advances with APOLLO for seamless $BTC usage.
- Beta Zeus Layer Mainnet: Deployment of the Zeus Layer mainnet beta version.
- Implementation of Singleton Mode: Deployment of Singleton Mode.
- Commencement of Zeus Explorer Development: Initiation of Zeus Explorer tool development.
- Audit Commencement: Commencement of the audit process.
- Apollo Testnet V0.3: Development of Apollo Testnet V0.3.
- Sending and Withdrawing $tBTC: Support for sending and withdrawing $tBTC tokens.
- Management of $zBTC: Support for $zBTC token management.
- Integration of Bitcoin Wallet Connect: Integration of Bitcoin Wallet connection.
- Audit Commencement: Commencement of the audit process.
2024 Q3: Gaia Upgrade
This phase introduces two staking options on Zeus Network: staking $ZEUS and staking native $BTC to earn yields on Solana.
- $ZEUS Staking: Launch of $ZEUS Staking Program.
- Beta Zeus Layer Mainnet: Deployment of Zeus Layer mainnet beta version.
- Support for Schnorr and EdDSA Threshold Signature: Support for Schnorr and EdDSA Threshold Signature.
- Launch of Zeus Node via $ZEUS Staking: Initiation of Zeus Node through $ZEUS staking.
- Apollo Mainnet Activation: Activation of Apollo Mainnet.
- Allowance for $BTC Staking: Allowance for $BTC staking.
- Signature & $SOL Staking on Zeus Node: Signature and $SOL staking on Zeus Node.
2024 Q4: Athena Upgrade
Zeus Network aims to build an interoperable ecosystem between permissionless chains and release the Zeus Programming Library (ZPL) for project development.
- Beta Zeus Layer Mainnet: Deployment of Zeus Layer mainnet beta version.
- Launch of ZPL for Programmable MPC: Release of ZPL for Programmable MPC.
- Deployment of Fee Relayer: Deployment of Fee Relayer.
- Integration of Zeus Explorer: Integration of Zeus Explorer tool.
8. Project infomation
Above is not all the information about this trend, Wanna know more about how it works and why should you use it? Read at Theblock101.com!
Disclaimer: This article is for informational purposes only, not financial advice. Join the Bigcoinchat chat group to update the latest information about the market.
