GOAT Network, a Bitcoin layer-2 scaling project, announced that Dogecoin holders will soon have the option to stake their tokens to support the network's security, earning rewards in Bitcoin. The staking process aims to start in early December during a pre-mining phase, with all assets to be accepted from December 2. Participants can earn a Mining Rewards Rate of 30%. The project is designed to enhance Bitcoin's scalability and yield by using Dogecoin, which boasts a $59 billion valuation. GOAT Network claims a unique decentralized sequencer model that facilitates transaction batching and execution without centralized control, promoting shared governance among multiple participants. Previously, GOAT Network received institutional commitments of 5,000 Bitcoin for its operations and intends to launch with various decentralized applications, including a leading exchange. The involvement of Dogecoin aims to utilize its decentralized nature in securing the network, especially as its popularity fluctuates, notably influenced by tech CEO Elon Musk.

Source 🔗