Cryptocurrency

A safe validation process for Bitcoin DeFi and Omnichain transactions.

LeverFi Launches OmniZK: Revolutionizing Bitcoin DeFi and Omnichain Interactions

Singapore, Singapore, April 4th, 2024, Chainwire

LeverFi Unveils OmniZK: A Game-Changing Validation Protocol for Bitcoin DeFi

LeverFi, a renowned web3 innovation team, has introduced OmniZK, an innovative secure validation protocol for Bitcoin that empowers developers to build sophisticated, interoperable DeFi applications. By shifting complex computations to EVM networks and relaying verified outcomes through zkOracles, OmniZK revolutionizes the DeFi landscape by enabling non-custodial, decentralized contracts to settle on the Bitcoin network securely.

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Breaking Barriers: Enabling Bitcoin DeFi and Complex Logic

For years, Bitcoin Script’s Turing-incomplete nature has hindered the development of intricate applications on the Bitcoin network, particularly in the realm of decentralized finance (DeFi). OmniZK addresses this limitation by offering a modular framework for constructing conditional Discreet Log Contracts (DLCs) secured by event proofs from zkOracles. This innovative approach ensures secure contract settlement within the Bitcoin network.

Empowering Developers with OmniZK SDK

Developers can leverage the OmniZK SDK to create and deploy DLC applications that utilize verified event data from EVM networks for settlement finality on the Bitcoin blockchain. This opens up new possibilities for interchain Bitcoin use cases, including BTC liquid staking, cross-chain DeFi markets, asset bridges, and omnichain liquidity management.

Unlocking a New Era of Bitcoin DeFi

Charissa K, Head of Developer Relations at LeverFi, emphasizes the significance of OmniZK for Bitcoin DeFi and interoperability. By facilitating secure, non-custodial contracts that settle on the Bitcoin network, OmniZK offers a decentralized alternative to centralized bridges, ushering in a new wave of possibilities for developers and users in the Bitcoin ecosystem.

Applications developed using OmniZK operate independently yet complementarily with Bitcoin Layer 2 solutions, offering final settlements on the Bitcoin network. This approach paves the way for innovative solutions, such as chain-agnostic wrapped BTC assets, without the need for custodial L2 multi-sig bridges.

LEVER Staking Program and Benefits

As part of the LeverFi ecosystem, LEVER serves as the ecosystem token, available on major exchanges like Binance and Bybit. OmniRelayers can stake LEVER to participate in securing the OmniZK network, earning rewards and gas fees. Additionally, LEVER provides access to LeverPro launchpad and reduced fees on the EVM-based swap platform.

About LeverFi

LeverFi is a leading web3 innovation firm backed by top investors, continuously redefining the landscape of decentralized finance. With groundbreaking initiatives like OmniZK, LeverFi aims to propel the Bitcoin and web3 ecosystems into a new era of possibilities.

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