ZKM to launch decentralized Bitcoin layer-2 solution GOAT Network in Q3

Interoperability protocol ZKM plans to launch its Bitcoin layer-2 solution, GOAT Network, in Q3, according to The Block. GOAT Network will feature a decentralized sequencer model, allowing node operators to earn BTC and block production fees, including Miner Extractable Value (MEV) revenue. The network will utilize ZKM's zero-knowledge proof (zk) rollup for verification. The network aims to enable community staking of BTC into sequencer nodes for sustainable yield. GOAT Network has secured commitments of 5,000 BTC from institutional node operators and plans to launch with seven nodes, expanding over time. Unlike the Lightning Network, GOAT Network is Ethereum Virtual Machine (EVM)-compatible, allowing smart contract functionality. It will launch with applications like DEX, borrowing, lending and perpetual swap platforms. The network also plans a Series A round to raise $5 million at a $100 million valuation, following a $5 million pre-Series A round in May.