We are excited to share that the OmniZK devnet is slated for a upgrade to a testnet on 18 June 2024.
The devnet to testnet upgrade is a significant milestone for OmniZK, which takes us closer to delivering a leading scalable, decentralized infrastructure to support the growth and development of BTC-DeFi.
BTC-DeFi remains a highly under-developed area of the web3 ecosystem, largely due to the Bitcoin network being designed for simplicity and non-expressive to serve its role as today’s “digital gold”. While this delivers predictable execution and consistent consensus for BTC transactions, it means that decentralized finance on Bitcoin is highly challenging to execute.
The OmniZK SDK allow developers to build and construct non-custodial Bitcoin native applications which can scale in logic and functionality, thereby delivering added scalability and logic capabilities to the Bitcoin network without compromising on its core tenets of security, decentralization and trustlessness.
More importantly, OmniZK offers a decentralized alternative compared to centralized Bitcoin L2s that use either multi-sigs or institutional custodians to secure user assets.
OmniZK empowers a wide range of inter-chain Bitcoin use cases with native network settlements, including and not limited to:
- Non-custodial BTC liquid staking
- Cross-chain Bitcoin DeFi markets
- Decentralized asset bridges
- Omnichain liquidity management
OmniZK documentation can be accessed at: https://docs.leverfi.io/omnizk
In the testnet phase, the OmniZK network will undergo rigorous audits from our development partners, third party auditors and technical users to ensure the robustness and security of the network across transaction processing, proof generation and verification, and cross-chain messaging.
We look forward to growing Bitcoin Finance together with our users and community!
LeverFi: Scaling Bitcoin and Global Web3 Ecosystems
Backed by world-class investors, LeverFi is a leading web3 innovation firm that continually reimagines the boundaries of decentralized finance. With its latest roadmap, LeverFi is set to break new ground and create new possibilities for Bitcoin and global web3 ecosystems.
Stay tuned for more updates as we continue to expand to more users globally, and deliver new innovations in decentralized finance by following us on our socials:
- Follow us on Twitter for the latest news: https://twitter.com/leverfi
- Visit the LeverFi website: https://www.leverfi.io
- Track our blog for updates: https://medium.com/leverfi
- Read our product documentation: https://docs.leverfi.io
- Join our fast growing user community: https://t.me/LeverFi
