Zeus Network has unveiled APOLLO, marking the introduction of the first fully trustless and decentralized Bitcoin exchange on the Solana platform.
In addition, Zeus, a multi-chain layer operating on the Solana Virtual Machine, has announced the release of zBTC, a Bitcoin (BTC) asset integrated into the network without permission requirements.
This achievement signifies a significant advancement for Bitcoin Finance (often referred to as BTCFi), a burgeoning sector focused on merging Bitcoin’s liquidity and security with contemporary decentralized finance solutions. BTCFi provides Bitcoin holders with opportunities for yields, access to liquidity pools, and sophisticated trading strategies.
Previously, the majority of Bitcoin’s decentralized finance applications relied on wrapped assets overseen by centralized entities. ZBTC transforms this landscape by facilitating a direct, non-custodial connection from native Bitcoin to Solana (SOL).
With APOLLO, users can lock their native BTC and mint zBTC at a 1:1 ratio, all while accessing on-chain liquidity in a non-custodial, KYC-free setting. During its private mainnet phase, APOLLO recorded over $40 million in volume and successfully minted 50 zBTC.
Unlocking cross-chain DeFi
zBTC is structured to integrate seamlessly with leading DeFi protocols on Solana. Holders can engage in trading on Jupiter, contribute liquidity via platforms such as Raydium, Meteora, and HawkFi, and soon explore yield optimization vaults through Drift and Neutral Trade.
Zeus Network also provides ZeusScan, a dedicated Proof of Reserves tool that allows for on-chain verification of BTC backing, ensuring total transparency for users.
Roadmap: swapping, lending, and more
APOLLO will soon enable swaps between zBTC, cbBTC, and wBTC, as well as facilitate withdrawals back to native BTC. Planned features include borrowing and lending capabilities through Drift and Save Finance, along with support for additional UTXO assets such as DOGE, LTC, and KAS.
The overarching vision of Zeus Network is to broaden the reach of BTCFi on Solana, transforming Bitcoin into a completely integrated, yield-generating asset within a modular, decentralized framework.