GOAT Network: the bitcoin layer-2 allows staking DOGE and earning in BTC

GOAT Network has announced that it will allow users to earn their fixed returns in BTC by staking in addition to Bitcoin, also the memecoin Dogecoin (DOGE).

GOAT Network, Bitcoin's layer-2, has announced that Dogecoin users will soon be able to stake their DOGE to earn a fixed return in BTC.

GOAT Network: Bitcoin's layer-2 allows staking DOGE and earning BTC

GOAT Network has announced that it will allow users to earn a fixed return in BTC by staking not only Bitcoin but also the memecoin Dogecoin (DOGE).

In essence, GOAT Network, Bitcoin's layer 2, is looking to expand its reach to include DOGE holders, offering them the same benefits as BTC holders.

At present, the launch date of GOAT Network's mainnet has not been officially disclosed.

In the meantime, however, the layer-2 states that anyone will be able to provide DOGE to one of its sequencer nodes and earn a sustainable yield payable in BTC, just as anyone can provide BTC and earn BTC.

GOAT Network: Bitcoin's layer-2 aims to provide greater earnings even to DOGE holders

GOAT Network's latest announcement also appears to be a response to its vision, which is that both Bitcoin and Dogecoin are currencies of the people.

In this regard, here is how GOAT Network describes its integration of DOGE staking to earn returns in BTC:

“This way, Dogecoin holders can weather the volatility of crypto without having to surrender their DOGE before its time—and in the meantime, they earn the digital gold that is now being adopted by companies, institutions, and nation-states. By adding Dogecoin to its rapidly growing ecosystem, GOAT Network positions itself as the ‘home of the people’s coins.’"

In fact, in addition to enabling DOGE staking, GOAT Network has stated that more news will follow to provide greater earnings to holders of the memecoin. Specifically, Bitcoin's layer-2 has mentioned the introduction of a suite of additional financial applications based on the memecoin, or dApp MemeFi.

Bitcoin DeFi has seen a surge in recent months, fueled by several catalysts. Just a month ago, its total value locked (TVL) was around $900 million, whereas now it has crossed $4 billion.

The prices of DOGE and BTC

Meanwhile, a glance at the price charts reveals that the crypto rally that began around November 6 is benefiting Bitcoin (BTC) and Dogecoin (DOGE) the most.

It is no coincidence that Donald Trump's victory in the U.S. presidential elections and Elon Musk's new entry into DOGE are the two triggering factors that have seen BTC and DOGE as the protagonists of the bull run.

At the time of writing, BTC is trading at $95,000 and DOGE at $0.40. Bitcoin is recovering after dropping to $90,000 two days ago. Its next goal is to see its price rise into 6 figures, setting a new ATH above the $100,000 threshold.

In any case, BTC's price has seen a 34% pump over the last 30 days.

DOGE, on the other hand, has retreated from its recent high of $0.47, reached on November 23, but is still hovering around that level. A dream here too, since the last time the memecoin saw these prices was in March 2021.

Over the last month, DOGE has been one of the best performers, with a 145% price pump over the last 30 days.