Bitcoin layer-2 network GOAT will soon let dogecoin (DOGE) users stake their tokens to earn fixed yields in BTC, with plans for additional memecoin-based financial applications later for users to earn “even greater rewards” on DOGE holdings.
GOAT Network, whose mainnet is yet to be released, has so far let users lock up BTC to earn network rewards in a process colloquially called staking. The network’s ecosystem — when built — will let bitcoin holders participate in various decentralized finance (DeFi), such as lending or trading, without giving up ownership of their assets.
DOGE prices have more than doubled in the past 30 days on an Elon Musk-linked trade and the virality of non-governmental agency Department of Government Efficiency (D.O.G.E.)
Besides its “long, colorful, and wildly successful history,” the GOAT Network team said it chose dogecoin for its strong “community vibe that has now a U.S. government agency called D.O.G.E. named after it,” and the coin being “ready for the next phase of its journey.”
“This way, Dogecoin investors can weather the volatility of crypto without paper-handing DOGE before its time has come and, in the process, earn digital gold, which is now being
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Author: Shaurya Malwa
