LeverFi Launches OmniZK: A Secure Validation Protocol for Bitcoin DeFi and Omnichain Interactions

Singapore,
Singapore,
April
4th,
2024,
Chainwire

LeverFi,
a
leading
web3
innovation
team,
has
launched
OmniZK,
a
secure
validation
protocol
for
Bitcoin
that
enables
developers
to
create
complex,
interoperable
DeFi
applications
by
shifting
complex
logic
onto
EVM
networks
and
relay
verified
outcomes
with
zkOracles.
The
protocol’s
modular
design
allows
non-custodial,
decentralized
contracts
to
be
settled
natively
on
the
Bitcoin
network
in
a
secure.

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
allowing
developers
to
shift
complex
computations
onto
EVM
layers
and
relay
verified
event
outcomes
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.

Enabling
Bitcoin
DeFi
and
complex
logic
for
Bitcoin

Bitcoin
Script’s
Turing-incomplete
nature
has
long
been
a
barrier
to
the
development
of
complex
applications
on
the
Bitcoin
network,
making
the
development
of
decentralized
finance
(DeFi)
applications
on
Bitcoin
especially
challenging.

OmniZK
solves
this
issue
by
providing
a
modular
framework
for
constructing
conditional,
non-custodial
Discreet
Log
Contracts
(DLCs)
secured
by
event
proofs
generated
by
zkOracles.
OmniRelayers,
running
in
a
Trusted
Execution
Environment,
are
restricted
to
only
transmitting
and
signing
for
verified
event
outcomes,
thereby
producing
robust
security
for
contract
settlement
within
the
Bitcoin
network.

With
the
OmniZK
SDK,
developers
can
easily
build
and
deploy
DLC
applications
that
utilize
verified
event
data
from
any
EVM
network
for
contract
settlement
finality
on
Bitcoin.
This
empowers
various
interchain
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
that
settle
natively
on
the
Bitcoin
network
and
providing
an
alternative
to
centralized
bridges,
we’re
unlocking
a
new
era
of
possibilities
for
Bitcoin
developers
and
users
alike.”

Applications
built
using
OmniZK
are
independent
of
yet
complementary
to
Bitcoin
L2s,
as
they
interact
with
and
communicate
with
L2s,
but
with
final
settlements
done
natively
on
Bitcoin,
outside
of
the
L2s. 

An
example
can
be
an
application
that
issues
a
chain-agnostic
wrapped
BTC
asset
that
can
be
freely
minted,
burned
or
transferred,
without
having
the
underlying
BTC
being
custodied
on
a
L2
multi-sig
bridge.

This
places
OmniZK
at
an
interesting
nexus
of
the
rapidly
growing
Bitcoin
ecosystem
and
offer
alternatives
to
developers
and
users
who
wish
to
build
and
settle
within
the
native
Bitcoin
layer.

LEVER
Staking
Program
and
Benefits

The
LeverFi
ecosystem,
which
includes
the
OmniZK
protocol,
are
powered
by
LEVER,
its
ecosystem
token
which
is
easily
accessible
on
leading
global
exchanges
including
Binance,
Bybit,
Bithumb,
Gate
and
more.

OmniRelayers
who
wish
to
participate
in
the
security,
functioning
and
governance
of
the
OmniZK
network
are
required
to
stake
LEVER
to
join
as
operators
to
earn
staking
rewards
and
contract
gas
fees.
There
will
also
be
a
delegation
program
for
users
to
stake
with
validators
and
enjoy
the
benefits
of
LEVER
staking.

In
addition
to
the
above,
LEVER
confers
a
wide
range
of
benefits
including
gated
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
firm
that
continually
reimagines
the
boundaries
of
decentralized
finance.
With
its
latest
roadmap,
LeverFi
is
set
to
break
new
ground
and
create
new
possibilities
for
Bitcoin
and
global
web3
ecosystems.

For
more
information,
users
can
learn
more
about
LeverFi
here:

https://leverfi.io

Developers
and
validators
looking
to
explore
OmniZK
may
register
interest
by
contacting
our
Head
of
Developer
Relations
at
this
email:

[email protected]

Contacts

ZR
[email protected]
Lawrence
LeverFi
[email protected]