LeverFi introduces OmniZK protocol, with the aim of enhancing Bitcoin’s scalability and interoperability through safe validation methods.
The decentralized finance (DeFi) infrastructure network LeverFi (LEVER) introduced a safe validation protocol that aims to increase Bitcoin’s (BTC) scalability, logic construction, and interoperability.
The modular nature of the OmniZK protocol gives developers the freedom to build conditional, non-custodial Discreet Log Contracts (DLCs) on the Bitcoin network. Event proofs from zkOracles safeguard these DLCs, enhancing the security and reliability of the protocol.
OmniZK is compatible with many different interchain Bitcoin applications, including omnichain liquidity management, decentralized asset bridges, crypto marketplaces that span chains, and liquid staking of bitcoins that does not involve custody.
In addition, apps developed utilizing OmniZK may function both separately and in tandem with Bitcoin Layer 2 solutions; this is because they communicate and share data with Layer 2 networks, but the actual settlements take place outside of these networks.
Unveiling an Ambitious Roadmap for 2024, LeverFi Bolsters the BTC and BRC-20 Ecosystem
LeverFi is a DeFi infrastructure and innovation network that provides one-of-a-kind solutions to the DeFi industry. They are in charge of OmniZK, LeverPro (a platform for BRC-20 projects), and LeverTrade (a trading platform).
The development of the BTC and BRC-20 ecosystems is at the center of LeverFi’s 2024 roadmap. LeverFi has introduced a Layer 2 protocol, specifically for token launches and on-chain DeFi operations, which also includes the release of the BRC-20 LVR token for trading. A number of enhancements and new releases are planned for the upcoming year, including these initiatives.
Web3 investment firm DWF Labs invested $2 million in the platform last year, subject to a two-year release and lock-in clause. The over-the-counter (OTC) pledge says that LeverFi has already received $2 million.
Elfin Games is a Binance-incubated project that LeverFi has recently teamed up with. The two projects’ shared goal is to integrate GameFi features and token utility into the Bitcoin and BRC-20 networks. In order to provide users with more alternatives for utility and engagement in the gaming arena, they are allowing them to spend LEVER tokens to buy land in the Elfin Metaverse.