[SIP-35] Symbiosis: Integrating GOAT Network to Expand Bitcoin L2 Access

Voting ended about 1 year agoSucceeded

Context

GOAT Network is a Layer 2 scaling solution for Bitcoin, utilizing ZKM’s Entangled Rollup technology to aggregate transactions off-chain and validate them on Bitcoin’s Layer 1 with zero-knowledge proofs (ZKPs).

GOAT Network offers:

Faster Transactions & Lower Fees
Enhanced Security: Transactions inherit Bitcoin’s security through ZKPs, reinforced by the Optimistic Challenge Process (OCP).
Decentralization: The network uses a decentralized sequencer model, meaning that network control and revenue are distributed among the participants.
EVM Compatibility: GOAT supports the Ethereum Virtual Machine (EVM), enabling smart contract functionality.

Additionally, GOAT Network aims to become a Universal Layer 2 by integrating with Ethereum, Cosmos, and Polkadot.

Mainnet Launch is expected in Q1 2025.

Proposal

Enable support for GOAT Network within the Symbiosis protocol. The integration includes the following steps:

Adding support for GOAT in the Symbiosis protocol, including WGBTC (address) for the network in the Symbiosis AMM DEX on the host chain.
Deploying and tuning Symbiosis contracts on GOAT Network to ensure smooth operation.
Leverage existing DEXs on GOAT to enable on-chain routing.
Activating the Symbiosis relayers network to work with the new blockchain.

Key points

Enhanced Bitcoin Interoperability: Introducing support for the Bitcoin L2 chain will empower users to interact with assets on the Bitcoin blockchain more securely and conveniently.
Increased Network Activity: The upcoming mainnet launch is expected to drive interest, attract users, and generate transaction flow.
Seamless Integration: GOAT Network’s EVM compatibility enables straightforward integration into the Symbiosis protocol, providing immediate access to cross-chain functionality and expanding user options.

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Timeline

Dec 27, 2024Proposal created

Dec 27, 2024Proposal vote started

Jan 02, 2025Proposal vote ended

Jan 02, 2025Proposal updated

Context

GOAT Network offers:

Faster Transactions & Lower Fees

Enhanced Security: Transactions inherit Bitcoin’s security through ZKPs, reinforced by the Optimistic Challenge Process (OCP).

Decentralization: The network uses a decentralized sequencer model, meaning that network control and revenue are distributed among the participants.

EVM Compatibility: GOAT supports the Ethereum Virtual Machine (EVM), enabling smart contract functionality.

Additionally, GOAT Network aims to become a Universal Layer 2 by integrating with Ethereum, Cosmos, and Polkadot.

Mainnet Launch is expected in Q1 2025.

Proposal

Enable support for GOAT Network within the Symbiosis protocol. The integration includes the following steps:

Adding support for GOAT in the Symbiosis protocol, including WGBTC (address) for the network in the Symbiosis AMM DEX on the host chain.

Deploying and tuning Symbiosis contracts on GOAT Network to ensure smooth operation.

Leverage existing DEXs on GOAT to enable on-chain routing.

Activating the Symbiosis relayers network to work with the new blockchain.

Key points

Enhanced Bitcoin Interoperability: Introducing support for the Bitcoin L2 chain will empower users to interact with assets on the Bitcoin blockchain more securely and conveniently.

Increased Network Activity: The upcoming mainnet launch is expected to drive interest, attract users, and generate transaction flow.

Seamless Integration: GOAT Network’s EVM compatibility enables straightforward integration into the Symbiosis protocol, providing immediate access to cross-chain functionality and expanding user options.