LeverFi Unveils OmniZK, a Groundbreaking Protocol Unleashing the Power of Bitcoin DeFi

LeverFi introduces OmniZK, a revolutionary validation protocol for Bitcoin. This advancement enables developers to create complex, interoperable DeFi applications on Bitcoin by leveraging EVM networks and zkOracles. OmniZK allows for the building of programmable, interoperable native applications that seamlessly integrate with Bitcoin, facilitating advanced use cases like non-custodial BTC liquid staking, cross-chain DeFi markets, and omnichain liquidity management. The protocol's modular design ensures secure contract settlement on the Bitcoin network, empowering developers with a robust framework for building innovative Bitcoin DeFi solutions.

LeverFi Unveils OmniZK: Groundbreaking Validation Protocol Unlocks the Potential of Bitcoin DeFi

Singapore, Singapore - April 4th, 2024 - LeverFi, a pioneering web3 innovation firm, has announced the launch of OmniZK, a transformative secure validation protocol for the Bitcoin blockchain. OmniZK empowers developers to create sophisticated, interoperable decentralized finance (DeFi) applications on Bitcoin, unlocking a vast array of possibilities for the world's most prominent cryptocurrency.

Resolving the Script Limitations of Bitcoin

Bitcoin's limited Turing-completeness, inherent to its Script language, has hindered the development of complex applications on the network, particularly in the realm of DeFi. OmniZK addresses this challenge by seamlessly integrating Bitcoin with the Ethereum Virtual Machine (EVM). It enables developers to shift intricate computations onto EVM-compatible networks while leveraging zkOracles to verify and relay event outcomes back to the Bitcoin network.

Non-Custodial, Decentralized Contracts on Bitcoin

OmniZK introduces a modular framework for constructing conditional, non-custodial Discreet Log Contracts (DLCs) secured by robust event proofs generated by zkOracles. OmniRelayers operate within a secure Trusted Execution Environment, restricted to transmitting and signing for verified event outcomes. This meticulously designed architecture provides robust security for contract settlement within the Bitcoin network, ensuring that outcomes are immutable and enforceable.

Simplified DLC Development with the OmniZK SDK

The OmniZK Software Development Kit (SDK) empowers developers with the tools to swiftly construct and deploy DLC applications that leverage verified event data from any EVM network. This capability opens up a plethora of interchain Bitcoin use cases, such as non-custodial BTC liquid staking, cross-chain Bitcoin DeFi markets, decentralized asset bridges, and omnichain liquidity management, all executed securely on the Bitcoin blockchain.

A Paradigm Shift for Bitcoin DeFi

"OmniZK represents a monumental leap forward for Bitcoin DeFi and interoperability," enthused Charissa K, Head of Developer Relations at LeverFi. "By enabling secure, non-custodial contracts that settle natively on the Bitcoin network and providing a viable alternative to centralized bridges, we are ushering in a new era of possibilities for both Bitcoin developers and users."

Complementarity with Bitcoin Layer-2 Solutions

Applications built on OmniZK are designed to complement, rather than replace, Bitcoin Layer-2 (L2) solutions. They interact with L2s and communicate seamlessly, while ensuring that final settlements are executed natively on the Bitcoin blockchain, outside the confines of L2 environments.

An Example: Chain-Agnostic Wrapped BTC Asset

A compelling example of OmniZK's capabilities is the issuance of a chain-agnostic wrapped BTC asset. This asset can be freely minted, burned, or transferred without requiring the underlying BTC to be custodied on a multi-signature bridge on a specific L2. This innovation places OmniZK at the forefront of the rapidly evolving Bitcoin ecosystem, offering alternatives to developers and users who seek to build and settle within the native Bitcoin layer.

LEVER Staking Program: Incentives for Security and Governance

The OmniZK protocol is natively integrated with the LeverFi ecosystem, powered by its ecosystem token, LEVER. OmniRelayers who contribute to the security, functioning, and governance of the network are required to stake LEVER to participate as operators, earning staking rewards and contract gas fees. Additionally, a delegation program allows users to stake with validators and reap the benefits of LEVER staking.

Benefits of LEVER Staking

LEVER staking confers a wide range of advantages, including exclusive access to the LeverPro launchpad for promising Bitcoin DeFi projects and discounted fees on LeverFi's EVM-based non-custodial swap platform.

Invitation to Developers and Validators

LeverFi warmly invites developers and validators to explore the boundless potential of OmniZK and contribute to the creation of the next generation of Bitcoin DeFi applications. For more information and to express interest, please contact the Head of Developer Relations at validator@leverfi.io.

About LeverFi

LeverFi is a leading web3 innovation firm, backed by world-renowned investors, relentlessly pushing the boundaries of decentralized finance. With its ambitious roadmap, LeverFi is poised to revolutionize the Bitcoin and global web3 ecosystems.

For further information, visit the LeverFi website at: https://leverfi.io