Bitcoin (BTC) is now directly on the Solana (SOL) network

With the launch of APOLLO, the first trustless Bitcoin exchange on Solana, and zBTC, a fully permissionless Bitcoin asset

Zeus Network has made Bitcoin work directly on Solana with the launch of APOLLO, the first trustless Bitcoin exchange on Solana, and zBTC, a fully permissionless Bitcoin asset.

This means that BTC holders can now use their Bitcoin in Solana’s DeFi ecosystem without depending on centralized wrapped versions.

Unlike traditional wrapped Bitcoin, which depends on third-party custodians and intermediaries, or KYC procedures to use Bitcoin in Solana, APOLLO lets users lock their real BTC and mint zBTC at a 1:1 ratio—fully on-chain and in a trustless manner.

This allows Bitcoin to move freely on Solana, maintaining full transparency and security throughout the process.

Before its official launch, APOLLO already saw over $40 million in on-chain volume and successfully minted 50 zBTC, showcasing strong early demand for this new capability.

Bitcoin ? Solana@ZeusNetworkHQ's permissionless Bitcoin exchange Apollo is now live on Solana!

We're making Bitcoin work directly on Solana with the launch of the first trustless Bitcoin exchange and zBTC, a fully permissionless Bitcoin asset. Join us as we forge new frontiers in decentralized finance. #Bitcoin #Solana pic.twitter.com/flQxs1k4gk

— Zeus Network (@ZeusNetworkHQ) August 9, 2023

This marks a significant moment for what's now being called Bitcoin Finance (BTCFi) on Solana. With zBTC, Bitcoin holders can trade on Jupiter, provide liquidity on platforms like Meteora, HawkFi, and Raydium, and soon, use advanced yield strategies on Drift and Neutral Trade.

Moreover, they can participate in leveraged trading on leveraged futures platforms and engage in liquidity mining opportunities. Essentially, Bitcoin is now a real part of Solana’s DeFi world, working just like any native asset.

To ensure the safety and transparency of this process, Zeus Network has launched ZeusScan, a tool that allows users to check every BTC transaction on Block Explorer. Each zBTC is backed 1:1 by real Bitcoin, so you can be sure there are no risks or hidden issues with this new asset class on Solana.

Looking forward, Zeus plans to upgrade APOLLO by supporting swaps between zBTC, cbBTC, and wBTC, making it simpler to move between different wrapped Bitcoin types and facilitating smooth withdrawal back to native Bitcoin on BTC Chain.

They are also working on introducing borrowing and lending through Drift and Save Finance and bringing in Litecoin, Dogecoin, and Kaspa to further strengthen liquidity and provide more options for Solana users.

With the launch of APOLLO and zBTC, Solana is positioning itself as a central hub for decentralized Bitcoin finance, offering BTC holders more ways to put their assets to work and expanding the possibilities within the DeFi landscape.