Solana-Bitcoin Cross-Chain Bridge Zeus Network plans to launch the Zeus Program Library (ZPL) connecting the two ecosystems by the third quarter of 2024.
“These ZPL assets open up a world of opportunity on Solana, facilitating activities like DeFi, GameFi, SocialFi, DePIN, etc. that were previously difficult on the Bitcoin blockchain,” Zues Network wrote on May 1. .
ZPL is a set of Solana Virtual Machine (SVM) programs that allow developers to integrate native Solana support into decentralized applications and conduct power transactions across multiple blockchains. “ZPL assets can be fungible (cryptocurrency) or non-fungible (NFT) and represent a wide range of digital assets,” Zeus Network said.
“With a market cap of approximately $1.2 trillion and over 11,000 runes generating over $135 million in fees within the first week of the Bitcoin blockchain, the potential for value transfer is enormous.”
Through ZPL and its bridging protocol Apollo, users deposit Bitcoin (BTC) and receive zBTC tokens wrapped in ZPL in return. These tokens can be used to participate in decentralized exchanges, NFT marketplaces, lending, borrowing, gaming, and SocialFi within Solana. ecosystem.
Developers plan to extend Solana’s ZPL-supported assets to Bitcoin runes and ordinal numbers, called “zRuneX” and “zOrdX”, respectively. Other work on the Q3 roadmap includes enabling Bitcoin staking on the Apollo mainnet.
Zeus Network is backed by Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali. April 8 Protocol secured $8 million funding round at a $100 million valuation.
Bitcoin Runes, launched in April, leverages the capabilities of the Bitcoin blockchain by allowing users to tokenize a variety of real-world assets such as real estate, stocks, commodities, or other cryptocurrencies such as stablecoins. It is a new token standard that extends .
Meanwhile, Bitcoin Ordinals is a numbering system that assigns each satoshi a unique number, i.e. 100 millionth of a Bitcoin, allowing for the tracking of transfers and the issuance of unique assets on the blockchain of the same name.
The Bitcoin decentralized application ecosystem has been experiencing a resurgence with the invention of these new protocols. Last month, Orders Exchange completed its integration with the Bitcoin Runes protocol, allowing the issuance of fungible tokens on the native network and building a Bitcoin asset bridge using MicroVisionChain that enables BRC-20 token exchanges.
Related: BONK, POPCAT and Solana memecoin stays green even as Bitcoin price falls.