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Singapore, Singapore, April 4, 2024, Chainwire
LeverFi, a leading Web3 innovation team, has introduced OmniZK, a secure validation protocol that enables developers to build complex, interoperable DeFi applications by offloading complex logic to EVM networks and forwarding verified results using zkOracles. The modular structure of the protocol enables the secure processing of non-custodial, decentralized contracts natively in the Bitcoin network.
LeverFi is proud to announce the launch of OmniZK, a groundbreaking secure validation protocol for Bitcoin that expands the possibilities for DeFi and Omnichain interactions. By enabling developers to offload complex computations to EVM layers and relay verified event results back to the Bitcoin network, OmniZK enables the creation of programmable, interoperable native applications on Bitcoin that are scalable and capable of handling complex scenarios.
Enables Bitcoin DeFi and complex logic for Bitcoin
Bitcoin Script's Turing incompleteness has long been a barrier to developing complex applications on the Bitcoin network, making developing decentralized finance (DeFi) applications on Bitcoin particularly challenging.
OmniZK solves this problem by providing a modular framework for creating conditional, non-custodial Discreet Log Contracts (DLCs) secured by event evidence generated by zkOracles. OmniRelayers, running in a trusted execution environment, are limited to transmitting and signing only verified event results, ensuring robust security for contract execution within the Bitcoin network.
The OmniZK SDK allows developers to easily build and deploy DLC applications that leverage verified event data from any EVM network for contract execution on Bitcoin. This enables various cross-chain Bitcoin use cases, including non-custodial BTC liquid staking, cross-chain Bitcoin DeFi markets, decentralized asset bridges, and omnichain liquidity management.
“OmniZK is a significant step forward for Bitcoin DeFi and interoperability,” said Charissa K, Head of Developer Relations at LeverFi. “By enabling secure, non-custodial contracts settled natively on the Bitcoin network and providing an alternative to centralized bridges, we are opening a new era of possibilities for Bitcoin developers and users alike.”
Applications built with OmniZK are independent of, yet complementary to, Bitcoin L2s as they interact and communicate with L2s, but with final settlement occurring natively on Bitcoin outside of the L2s.
An example may be an application that issues an off-chain wrapped BTC asset that can be freely minted, burned, or transferred without the underlying BTC being held on an L2 multi-sig bridge.
This positions OmniZK at an interesting node in the rapidly growing Bitcoin ecosystem, offering alternatives for developers and users who want to build and establish themselves within the native Bitcoin layer.
LEVER staking program and benefits
The LeverFi ecosystem, which includes OmniZK Protocol, is based on LEVER, its ecosystem token that is easily accessible on leading global exchanges such as Binance, Bybit, Bithumb, Gate and others.
OmniRelayers who wish to participate in the security, operation and management of the OmniZK network must stake LEVER to join as an operator and earn staking rewards and contract gas fees. There will also be a delegation program that will allow users to place stakes with validators and enjoy the benefits of LEVER staking.
Additionally, LEVER offers a variety of benefits, including protected access to its LeverPro launchpad for high-potential Bitcoin DeFi projects and reduced fees on its EVM-based non-custodial swap platform.
LeverFi invites developers and validators to explore the potential of OmniZK and start building the next generation of Bitcoin DeFi applications.
About LeverFi
Backed by world-class investors, LeverFi is a leading Web3 innovation company that is continually redefining the boundaries of decentralized finance. With its latest roadmap, LeverFi aims to break new ground and create new opportunities for Bitcoin and global Web3 ecosystems.
For more information, users can learn more about LeverFi here: https://leverfi.io
Developers and validators interested in exploring OmniZK can register interest by contacting our Head of Developer Relations via email: [email protected]
contactsZR[email protected]LawrenceLeverFi[email protected]
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