From Investing.com: 2024-04-04 11:00:46

LeverFi has launched OmniZK, a secure validation protocol for Bitcoin, allowing developers to create complex DeFi applications by shifting logic onto EVM networks and relaying outcomes with zkOracles. The modular design enables non-custodial contracts settled securely on the Bitcoin network, expanding Bitcoin DeFi possibilities and omnichain interactions.

OmniZK addresses Bitcoin Script’s limitations by offering a framework for non-custodial DLCs secured by zkOracles, ensuring robust security for contract settlement within the Bitcoin network. Developers can utilize the OmniZK SDK to build DLC applications using verified event data from EVM networks, enabling various interchain Bitcoin use cases and decentralized asset bridges.

OmniZK applications complement Bitcoin Layer 2s by interacting with them but settling natively on Bitcoin. For example, wrapped BTC assets can be issued without custodianship on a multi-sig bridge, offering developers and users new possibilities within the native Bitcoin layer.

The LeverFi ecosystem, including OmniZK, operates with LEVER as its ecosystem token. OmniRelayers staking LEVER can participate in securing and governing the OmniZK network, earning rewards and gas fees. LEVER provides access to LeverPro launchpad and reduced fees on the non-custodial swap platform, offering a wide range of benefits for users.

Developers and validators are encouraged to explore OmniZK’s potential for building the next generation of Bitcoin DeFi applications. LeverFi, a prominent web3 innovation firm, aims to push the boundaries of decentralized finance to create new opportunities in the Bitcoin and global web3 ecosystems.

Read more at Investing.com: A Secure Validation Protocol for Bitcoin DeFi and Omnichain Interactions By Chainwire