Zeus Network Rolls Out APOLLO And zBTC, Marking The First Trustless Bitcoin On-Chain Exchange On Solana
In Brief
Zeus Network has launched the APOLLO Bitcoin exchange on Solana and introduced the zBTC asset, enabling Bitcoin holders to access Solana’s DeFi ecosystem and unlock cross-chain Bitcoin liquidity.
SVM-based multi-chain platform, Zeus Network announced that it has launched APOLLO, a decentralized application and the first on-chain Bitcoin exchange built on the Solana blockchain. Alongside APOLLO, the network also introduced zBTC, the first fully permissionless Bitcoin asset on Solana. This development allows Bitcoin holders to access Solana’s decentralized finance (DeFi) ecosystem and unlock cross-chain Bitcoin liquidity, eliminating the need for centralized wrapped solutions.
APOLLO enables users to lock native BTC and mint zBTC at a 1:1 ratio directly on the Solana blockchain, thus enhancing Bitcoin liquidity within a decentralized, non-custodial environment. Unlike traditional wrapped Bitcoin models that rely on centralized custodians and opaque processes, APOLLO and zBTC offer a trustless and transparent experience without requiring Know Your Customer (KYC) or introducing custodial risks. During its private mainnet phase, the platform saw impressive engagement, achieving over $40 million in on-chain volume and successfully minting 50 zBTC prior to its official launch.
The introduction of APOLLO marks the beginning of Bitcoin Finance, or BTCFi, on Solana, offering a range of decentralized financial services that utilize Bitcoin’s liquidity and security while integrating with Solana’s DeFi infrastructure. With zBTC, Bitcoin holders can now engage in various DeFi activities on Solana, including trading on Jupiter, providing liquidity on platforms such as Meteora, HawkFi, and Raydium, and participating in yield optimization strategies through vaults like Drift and Neutral Trade, which are expected to launch soon.
Additionally, Zeus Network ensures full transparency with its custom-built Proof of Reserves system, ZeusScan, which provides on-chain visibility into Bitcoin reserves. This feature ensures that every BTC transaction remains fully auditable, bolstering user confidence and upholding the integrity of APOLLO’s trustless framework.
Zeus Network Unveils Ambitious Plans To Enhance Modularity Of Bitcoin Liquidity And Expand Partnerships
In the coming months, Zeus Network intends to roll out additional features that will further enhance the modularity of Bitcoin liquidity. APOLLO will soon allow users to swap between zBTC, cbBTC, and wBTC, as well as withdraw any of these versions back to native Bitcoin. This functionality will simplify the process of managing Bitcoin positions across different protocols and formats, offering increased flexibility and control for users. The modular framework aims to improve market efficiency by providing more options and convenience. Furthermore, users will have the opportunity to participate in borrowing and lending activities on platforms like Drift and Save Finance, with more services expected to be added.
Zeus Network’s future plans also include expanding institutional liquidity partnerships and integrating additional UTXO-based assets such as DOGE, LTC, and KAS. Additionally, the network will work on evolving ZPL-assets to enhance liquidity coverage. The launch of more Bitcoin-native applications on Solana is also planned, as Zeus Network continues to advance BTCFi on the Solana blockchain.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
