Zeus Network launches APOLLO, the first on-chain Bitcoin exchange on Solana

The decentralized application brings forth zBTC, an on-chain, permissionless Bitcoin asset intended to integrate Bitcoin liquidity into Solana's DeFi seamlessly.

Zeus Network has launched the first on-chain Bitcoin exchange on Solana, introducing the beginning of Bitcoin Finance (BTCFi) on the blockchain. The decentralized application, named APOLLO, brings forth zBTC, an on-chain, permissionless Bitcoin asset that aims to integrate Bitcoin liquidity into Solana’s DeFi ecosystem seamlessly.

This launch marks a significant step in expanding the capabilities of both Bitcoin and Solana blockchains. Through APOLLO, Bitcoin users can now access decentralized finance without dependence on centralized wrapped solutions, enjoying increased security, transparency, and flexibility.

To manage Bitcoin liquidity, users can lock native BTC and mint zBTC on Solana in a 1:1 ratio. This process is easily initiated through a simple click on the APOLLO application. Unlike traditional wrapped Bitcoin solutions that rely on centralized custodians, APOLLO offers a trustless experience without custodial issues or KYC procedures. This decentralized strategy has already had an impact, with the platform having minted 50 zBTC units before the official launch and processing more than $40 million in on-chain volume during private mainnet testing.

The introduction of APOLLO opens up a diverse range of BTCFi options on Solana, enabling Bitcoin owners to participate in every aspect of the DeFi landscape. zBTC can now be swapped on Jupiter, borrowed against on Raydium, HawkFi, and Meteora, and accessed with advanced yield optimization strategies through Drift and Neutral Trade, among others. This flexibility empowers users to maximize the utilization of their holdings without surrendering ownership of their assets in a secure, non-custodial environment.

To further support transparency, Zeus Network has also launched ZeusScan, a tailor-made Proof of Reserves solution that renders every Bitcoin transaction completely auditable. The inclusion of this feature provides a further level of assurance to the trustlessness of the architecture of APOLLO and offers users more confidence in the safety of assets. By transparency as its guiding principle, Zeus Network is setting a new standard in decentralized Bitcoin finance.

Over the coming months, Zeus Network will continue to add liquidity to Bitcoin by simplifying interconversions between zBTC, cbBTC, and wBTC, with native Bitcoin withdrawal support set to follow. This modular structure will improve market efficiency and provide users with greater choice in managing Bitcoin between protocols.

Additionally, Zeus Network is expanding its support to include other UTXO-based tokens such as Dogecoin, Litecoin, and Kaspa, further expanding the BTCFi ecosystem on Solana.

Zeus Network's multi-chain framework is powered by the Solana Virtual Machine (SVM) and supports permissionless cross-chain interaction between Bitcoin and other blockchain protocols. Commencing with the launch of liquidity from major blockchains, Zeus Network is building an unprecedented, secure, and scalable cross-chain platform that optimizes and expands upon existing solutions to provide maximal value to cryptocurrency holders. Through this initiative, Zeus is facilitating increased accessibility to Bitcoin and other UTXO-based tokens, and in turn, more Bitcoin-native dApps will launch on Solana, ultimately cementing Solana's position as a decentralized finance leader.

With the launch of APOLLO, Bitcoin owners now have more options than ever to put their holdings to work in the expanding world of decentralized finance. The integration of Bitcoin liquidity into the Solana ecosystem is not only a technical achievement but also a step toward a decentralized, more efficient financial future.