Singapore, Singapore, April 4th, 2024, Chainwire

LeverFi, a leading web3 innovation team, has introduced OmniZK, a secure validation protocol for Bitcoin that allows the development of intricate, interoperable DeFi applications by moving complex logic to EVM networks and coordinating verified outcomes with zkOracles. The protocol's design enables non-custodial, decentralized contracts to settle on the Bitcoin network securely.

LeverFi is proud to announce the launch of OmniZK, an innovative secure validation protocol for Bitcoin that enhances the potential for DeFi and omnichain interactions. This advancement permits developers to transfer complex computations to EVM layers and transmit verified event outcomes back to the Bitcoin network. Consequently, OmniZK facilitates the creation of scalable, programmable native applications on Bitcoin capable of handling sophisticated scenarios.

Enabling Bitcoin DeFi and intricate logic for Bitcoin

Bitcoin Script's Turing-incomplete nature has traditionally hindered the development of complex applications on the Bitcoin network, particularly in the realm of decentralized finance (DeFi) applications.

OmniZK addresses this challenge through a modular framework that constructs conditional, non-custodial Discreet Log Contracts (DLCs) safeguarded by event proofs generated by zkOracles. The use of OmniRelayers, operating within a Trusted Execution Environment, is limited to transmitting and signing exclusively for verified event outcomes, ensuring robust security for contract settlement within the Bitcoin network.

Through the OmniZK SDK, developers can effortlessly develop and deploy DLC applications utilizing verified event data from any EVM network to secure contract settlement finality on Bitcoin. This empowers various interchain Bitcoin applications, including non-custodial BTC liquid staking, cross-chain Bitcoin DeFi markets, decentralized asset bridges, and omnichain liquidity management.

"OmniZK represents a significant advancement for Bitcoin DeFi and interoperability," expressed Charissa K, Head of Developer Relations at LeverFi. "By introducing secure, non-custodial contracts that natively settle on the Bitcoin network and offering an alternative to centralized bridges, we are ushering in a new era of possibilities for both Bitcoin developers and users."

Applications developed using OmniZK are independent yet complementary to Bitcoin L2s, as they interact and communicate with L2s, while final settlements are executed natively on Bitcoin, outside of the L2s.

An example would be an application issuing a chain-agnostic wrapped BTC asset freely minted, burned, or transferred, without requiring the underlying BTC to be custodied on an L2 multi-sig bridge.

This strategic placement of OmniZK within the vibrant Bitcoin ecosystem provides alternatives to developers and users striving to construct and settle within the native Bitcoin layer.

LEVER Staking Program and its Benefits

The LeverFi ecosystem, inclusive of the OmniZK protocol, relies on LEVER, its ecosystem token accessible on major global exchanges like Binance, Bybit, Bithumb, Gate, and more.

OmniRelayers intending to engage in the security, functionality, and governance of the OmniZK network must stake LEVER to participate as operators, earning staking rewards and contract gas fees. Additionally, there will be a delegation program for users to stake with validators and enjoy the benefits of LEVER staking.

Apart from the aforementioned, LEVER offers a broad range of benefits, including exclusive access to its LeverPro launchpad for promising Bitcoin DeFi projects and reduced fees on its EVM-based non-custodial swap platform.

LeverFi welcomes developers and validators to explore the potential of OmniZK and commence building the next generation of Bitcoin DeFi applications.

About LeverFi

With backing from top-tier investors, LeverFi is a leading web3 innovation company that constantly redefines the limits of decentralized finance. Through its latest roadmap, LeverFi is poised to pioneer new paths and create fresh opportunities for Bitcoin and the global web3 ecosystems.

For additional information, users can explore more about LeverFi here.

Developers and validators interested in delving into OmniZK may express their interest by contacting the Head of Developer Relations via email at [email protected].

Contacts

ZR
[email protected]
Lawrence
LeverFi
[email protected]