GOAT Network: The First Bitcoin Layer 2 Network to Share Ownership of Its Network

As Bitcoin DeFi gains traction, there is a need for a faster, cheaper, and easier way to transact on the Bitcoin network. This is where GOAT Network comes

Bitcoin Layer 2 network GOAT Network has announced the launch of GOAT Club, a program that will see everyone from sequencer node operators and builders to users rewarded with future GOAT tokens for their contributions to the network.

Set to launch with its mainnet this fall, GOAT Club will offer users a chance to earn points for pledging BTC to support on-chain liquidity and secure the network. The more BTC a user pledges, the more points they will earn. Users can pledge a minimum of 0.001 BTC and a maximum of any amount they choose, with the option to pledge for multiple nodes simultaneously.

Moreover, users who pledge early and complete future mainnet tasks will earn double rewards for their efforts. Notably, users can earn points for pledging BTC even before the mainnet launches.

Users can pledge BTC to any of the sequencer nodes and earn GOAT Club points, which will be exchangeable for future GOAT tokens at a rate of 100 Club Points for 1 GOAT. The total supply of GOAT tokens that will be allocated to GOAT Club is 200,000, and the snapshot time for Club Points will be announced at a later date.

Those who help build the GOAT ecosystem will also be rewarded via the GOAT Club campaign. For instance, DEXes, NFT marketplaces, and other Web3 projects that integrate the GOAT Club points API to work with their own points system will earn Builder Points (BP).

These projects will earn retroactive rewards every month based on gas consumption and total value locked (TVL) into their smart contracts.

Sequencer Nodes to Earn Sequencer Points

In addition to users and builders, sequencer nodes will also earn points based on the number of blocks they produce, which will be known as Sequencer Points (SP). These points will be used to calculate the sequencer’s share of the total revenue generated by the network.

It is important to note that the GOAT Club points campaign will conclude once the network launches its mining rewards, at which point users will no longer be able to pledge BTC to sequencer nodes. However, users can continue pledging BTC for a limited time ahead of the mainnet launch to earn double Club Points (CP).

For more details on GOAT Club, the rewards campaign launched by the first BTC L2 to share network ownership, visit goat.network/goatclub