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Unlocking DeFi for Bitcoin: New Bridge with zBTC Token to Launch on Solana in Q3

A ZPL-powered bridge to connect Bitcoin and Solana: DeFi integration on the horizon

The Zeus Network plans to launch a cross-chain bridge between Solana and Bitcoin by Q3 2024, aimed at enhancing connectivity and functionality across both ecosystems.

Key takeaways:

  • The Zeus Network's upcoming cross-chain bridge will introduce the ZPL-powered zBTC token, enabling Bitcoin holders to participate in the Solana DeFi space.
  • ZPL assets will support a variety of applications on Solana, including DeFi, GameFi, and NFT marketplaces.

Slated for a Q3 2024 launch, the Zeus Network's Zeus Program Library (ZPL) aims to bridge the Bitcoin and Solana blockchains, enhancing the utility of Bitcoin within the Solana ecosystem. 

Zeus Network stated in a recent announcement:

"These ZPL-Assets unlock a world of opportunities on Solana," 

This integration is expected to facilitate diverse blockchain activities such as DeFi, GameFi, SocialFi, and more, which have been challenging to implement directly on the Bitcoin blockchain due to its architectural constraints.

ZPL functions through a series of Solana Virtual Machine (SVM) programs, enabling developers to incorporate native Solana support into decentralized applications and manage transactions across multiple blockchains. Zeus Network elaborated: 

"ZPL-Assets can be either fungible, like cryptocurrencies, or non-fungible, such as NFTs, representing a broad spectrum of digital assets."

Expanding the ecosystem and future plans

With the implementation of ZPL and the Apollo bridging protocol, users will be able to deposit Bitcoin and receive ZPL-wrapped zBTC tokens. These tokens can be utilized within the Solana ecosystem for engaging with decentralized exchanges, NFT marketplaces, and various other DeFi applications. Plans are underway to expand ZPL-supported assets to include Bitcoin Runes and Ordinals, with future enhancements labeled as “zRuneX” and “zOrdX.”

The roadmap for Q3 also includes the introduction of Bitcoin staking on the Apollo mainnet, further integrating Bitcoin's liquidity and utility within the Solana framework. This development is supported by notable blockchain figures, including Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali. Zeus Network recently secured an $8 million funding round, valuing the protocol at $100 million, which underscores the strong market confidence in its potential.