Singapore, Singapore, April 4, 2024, Chainwire
LeverFi, a leading Web3 innovation team, has launched OmniZK, a secure validation protocol for Bitcoin that allows developers to build complex, interoperable DeFi applications by moving complex logic across EVM networks and relaying verified results with zkOracles. The protocol's modular design allows decentralized, non-custodial contracts to be settled natively on the Bitcoin network in a secure manner.
LeverFi is proud to announce the launch of OmniZK, a revolutionary secure validation protocol for Bitcoin that expands the possibilities for DeFi and omnichain interactions. By allowing developers to move complex calculations onto EVM layers and relay the results of verified events to the Bitcoin network, OmniZK enables the creation of programmable and interoperable native applications on Bitcoin that are scalable and capable of handling complex scenarios.
Enabling Bitcoin DeFi and Complex Logic for Bitcoin
The Turing incomplete nature of Bitcoin Script has long been a barrier to developing complex applications on the Bitcoin network, making the development of decentralized finance (DeFi) applications on Bitcoin particularly difficult.
OmniZK solves this problem by providing a modular framework for building conditional, non-custodial Discrete Log Contracts (DLCs), secured by event proofs generated by zkOracles. OmniRelayers, operating in a trusted execution environment, are limited to transmitting and signing only verified event results, thereby producing robust security for contract settlement within the Bitcoin network.
With the OmniZK SDK, developers can easily build and deploy DLC applications that use verified event data from any EVM network for the purpose of settling contracts on Bitcoin. This enables various cross-chain Bitcoin use cases, including non-custodial BTC liquid staking, cross-chain Bitcoin DeFi markets, decentralized asset bridges, and omnichain liquidity management.
“OmniZK is a significant advancement for Bitcoin DeFi and interoperability,” said Charissa K, Head of Developer Relations at LeverFi. “By enabling secure, non-custodial contracts that sit natively on the Bitcoin network and providing an alternative to centralized bridges, we are opening a new era of possibilities for Bitcoin developers and users.”
Applications built using OmniZK are independent but complementary to Bitcoin L2s, as they interact and communicate with the L2s, but with final settlements performed natively on Bitcoin, outside of the L2s.
An example might be an application that issues a chain-agnostic wrapped BTC asset that can be freely created, burned, or transferred, without the underlying BTC being held on an L2 multi-signature bridge.
This places OmniZK at an interesting nexus with the rapidly growing Bitcoin ecosystem and provides alternatives for developers and users who want to build and settle within the native Bitcoin layer.
LEVER Staking Program and Benefits
The LeverFi ecosystem, which includes the OmniZK protocol, is powered by LEVER, its ecosystem token that is easily accessible on major global exchanges including Binance, Bybit, Bithumb, Gate and more.
OmniRelayers who wish to participate in the security, operation, and governance of the OmniZK network must stake LEVER to join as Operators to earn staking rewards and contract gas fees. There will also be a delegation program allowing users to stake with validators and enjoy the benefits of LEVER staking.
In addition to the above, LEVER offers a wide range of benefits, including secure access to its LeverPro launchpad for high-potential Bitcoin DeFi projects and reduced fees on its EVM-based non-custodial exchange platform.
LeverFi invites developers and validators to explore the potential of OmniZK and start building the next generation of Bitcoin DeFi applications.
About LeverFi
Backed by world-class investors, LeverFi is a leading Web3 innovation company continually reinventing the boundaries of decentralized finance. With its latest roadmap, LeverFi is poised to innovate and create new possibilities for the global Bitcoin and Web3 ecosystems.
For more information, users can learn more about LeverFi here:
Developers and validators interested in exploring OmniZK can register their interest by contacting our Developer Relations Manager at this email: (email protected)
Contacts
ZR
(email protected)
Laurent
LeverFi
(email protected)