LeverFi, a leading DeFi platform specializing in leveraged spot trading, has made a significant announcement. The company is set to upgrade its devnet OmniZK to testnet in the upcoming week, aiming to provide a decentralized and scalable infrastructure. LeverFi took to its social media account to share this exciting news.
“We are thrilled to announce that the #OmniZK devnet will soon transition to testnet in the following week! This upgrade marks a significant step towards establishing a top-tier scalable, decentralized infrastructure to support the growth of #BTC DeFi.”
In addition to this, LeverFi released a blog post on Medium detailing the upgrade process. The platform has scheduled the upgrade for the 18th of this month, emphasizing its importance for OmniZK. LeverFi stated that this advancement propels the company towards offering decentralized and scalable infrastructure.
The new infrastructure is expected to support the development and expansion of BTC-DeFi, a sector that currently lags behind in the Web3 ecosystem. LeverFi highlighted that the design of the Bitcoin Network, focusing on simplicity, poses challenges for Bitcoin-based decentralized finance. The OmniZK SDK plays a vital role in addressing these challenges by enabling developers to create non-custodial BTC native apps with enhanced functionality and logic, thus enhancing the scalability and logic capabilities of the BTC network.
The project prioritizes trustlessness, decentralization, and security, providing a decentralized alternative to BTC L2s, which rely on institutional custodians or multi-sigs for asset protection. LeverFi emphasized that OmniZK supports a wide range of inter-chain BTC use cases, including local network settlements, non-custodial liquid staking of Bitcoin, cross-chain BTC DeFi markets, decentralized token bridges, and Omnichain management.
Tags: #BTC.