LeverFi launches OmniZK, a secure verification protocol for Bitcoin DeFi and OmniChain interactions

adminApril 4, 2024

Singapore, Singapore, April 4, 2024, Chainwire

LeverFi, a leading web3 innovation team, has launched OmniZK, a secure verification protocol for Bitcoin that allows developers to create complex, interoperable DeFi applications by translating complex logic to the EVM network and passing verified results to zkOracles. The modular design of the protocol allows non-custodial, decentralized contracts to be settled natively and securely on the Bitcoin network.

LeverFi is proud to announce the launch of OmniZK, Bitcoin’s groundbreaking security verification protocol that expands the possibilities of DeFi and omnichain interactions. By enabling developers to transfer complex computations to the EVM layer and communicate verified event results back to the Bitcoin network, OmniZK provides programmable, interoperable native applications on Bitcoin that are scalable and capable of handling complex scenarios. It allows you to create

Enabling Bitcoin DeFi and Bitcoin’s Complex Logic

The Turing incompleteness nature of the Bitcoin script has long been a barrier to the development of complex applications on the Bitcoin network, making the development of decentralized finance (DeFi) applications on Bitcoin particularly difficult.

OmniZK solves this problem by providing a modular framework for constructing conditional, non-binding Discreet Log Contracts (DLCs) protected by zkOracle-generated event proofs. Running in a trusted execution environment, OmniRelayers is restricted to transmitting and signing only verified event outcomes, providing strong security for contract settlement within the Bitcoin network.

The OmniZK SDK allows developers to easily build and deploy DLC applications that leverage verified event data from any EVM network to finalize Bitcoin contracts. This enables a variety of cross-chain Bitcoin use cases, including non-custodial BTC liquid staking, cross-chain Bitcoin DeFi markets, decentralized asset bridges, and omnichain liquidity management.

“OmniZK is an important step forward toward Bitcoin DeFi and interoperability,” said Charissa K, Director of Developer Relations at LeverFi. She said, “By enabling secure, non-custodial contracts that are natively anchored on the Bitcoin network and providing an alternative to centralized bridges, we are opening a new era of possibilities for Bitcoin developers and users alike.”

Applications built using OmniZK interact and communicate with the L2, making it independent of the Bitcoin L2 but complementary to the L2, but final settlement is performed natively in Bitcoin outside of the L2.

An example would be an application that mints chain-independent wrapped BTC assets that can be freely created, burned, or transferred without having to store the underlying BTC in an L2 multi-signature bridge.

This makes OmniZK an interesting nexus of the rapidly growing Bitcoin ecosystem and provides an alternative for developers and users looking to build and settle within the native Bitcoin layer.

LEVER Staking Program and Benefits

The LeverFi ecosystem, including the OmniZK protocol, is powered by LEVER, an ecosystem token that is easily accessible on major global exchanges including Binance, Bybit, Bithumb, Gate, and more.

OmniRelayers who wish to participate in the security, functionality and governance of the OmniZK network must join as an operator to earn staking rewards and contract gas fees by staking LEVER. There will also be a delegation program that will allow users to stake with validators and enjoy the benefits of LEVER staking.

In addition to the above, LEVER offers a number of other benefits, including limited access to the LeverPro launchpad for high-potential Bitcoin DeFi projects and reduced fees on its EVM-based non-custodial swap platform.

LeverFi invites developers and validators to explore the potential of OmniZK and start building the next generation of Bitcoin DeFi applications.

Introduction to LeverFi

Backed by world-class investors, LeverFi is a leading web3 innovator that continues to reimagine the boundaries of decentralized finance. With its latest roadmap, LeverFi plans to break new ground and create new possibilities for Bitcoin and the global web3 ecosystem.

For more information, you can learn more about LeverFi here: https://leverfi.io

Developers and validators interested in exploring OmniZK can register their interest by contacting the Director of Developer Relations at: (email protected)