Zeus Network, the cross-chain bridge between Solana and Bitcoin, has announced the launch of its Zeus Program Library (ZPL) in the third quarter of 2024. ZPL aims to unlock various opportunities on Solana that were previously challenging on the Bitcoin blockchain, including DeFi, GameFi, SocialFi, DePIN, and more.
ZPL is a collection of Solana Virtual Machine (SVM) programs that allow developers to integrate native Solana support into decentralized applications and facilitate transactions across multiple blockchains. These programs, known as ZPL-Assets, can represent both fungible (cryptocurrencies) and non-fungible (NFTs) digital assets.
Through the ZPL and its bridging protocol, called Apollo, users can deposit their Bitcoin and receive ZPL-wrapped zBTC tokens in return. These tokens can be used for various activities within the Solana ecosystem, such as engaging with decentralized exchanges, NFT marketplaces, borrowing, lending, gaming, and SocialFi.
In addition to the launch of ZPL, developers plan to expand the range of supported assets on Solana to include Bitcoin Runes and Ordinals, named “zRuneX” and “zOrdX” respectively. The roadmap for the third quarter also includes the introduction of Bitcoin staking on the Apollo mainnet.
Zeus Network is supported by Anatoly Yakovenko, co-founder of Solana, and Muneeb Ali, co-founder of Stacks. The protocol recently raised $8 million in a funding round, valuing the project at $100 million.
Bitcoin Runes, a token standard that enhances the functionality of the Bitcoin blockchain, was released in April. It allows users to tokenize real-world assets such as real estate, stocks, commodities, and stablecoins. On the other hand, Bitcoin Ordinals is a numbering system that assigns a unique number to each satoshi, enabling the tracking, transfer, and minting of unique assets on the Bitcoin blockchain.
The Bitcoin decentralized application ecosystem has seen a resurgence with the introduction of innovative protocols. Orders Exchange, for example, integrated with the Bitcoin Runes protocol to enable the issuance of fungible tokens on the native network and established a Bitcoin asset bridge with MicroVisionChain for BRC-20 token swaps.
Despite the drop in Bitcoin price, memecoins like BONK, POPCAT, and Solana have remained resilient and continue to perform well.