MonkeDAO, a community-driven non-fungible token initiative on Solana, has declared itself the first decentralized autonomous organization to implement a Bitcoin reserve.
On March 28, MonkeDAO, which operates on Solana (SOL), revealed that it has incorporated a Bitcoin (BTC) reserve into its strategy through the acquisition of the APOLLO token, zBTC.
The recently launched zBTC is a token that is pegged at a 1:1 ratio to Bitcoin and is native to the Solana blockchain. MonkeDAO is the inaugural DAO to integrate this token into its treasury reserves.
As described by the APOLLO team, this token provides genuine on-chain access to BTC—without being bridged or wrapped—facilitating permissionless transactions. Holders can utilize this token to engage in decentralized finance on Solana, thereby earning on-chain yields.
MonkeDAO has announced its intention to incorporate zBTC into its treasury.
The single zBTC acquired will be placed into the Strategic Monke Reserve. This reserve strategy aims to promote financial sustainability for the NFT DAO project and its community.
Additionally, MonkeDAO is reinforcing its commitment to a permissionless ecosystem for Bitcoin DeFi, often referred to as BTCFi. The introduction of zBTC allows Bitcoin holders to participate in DeFi activities on Solana, including lending, borrowing, and yield farming.
“The SMR is our pledge to sustained growth, and the addition of zBTC enhances and diversifies our current native asset pool,” MonkeDAO shared on X.
While this approach may not reach the scale of major firms like MicroStrategy, it certainly reflects a growing trust in Bitcoin.
Alongside its 1:1 peg with Bitcoin, APOLLO asserts that zBTC employs a trustless two-way peg for added security, achieved through a straightforward payment verification sidechain. Furthermore, the token utilizes a decentralized validator set via the Zeus Network.
In its initiative towards BTCFi, Apollo and the Zeus Network aim to tap into the “trillions in value” that reside within the Bitcoin network.
The potential to unlock Bitcoin’s currently underused liquidity, with many holders’ coins resting idly in wallets, represents a significant opportunity for expansion and enhancement of use cases. The Zeus Network completed its first Bitcoin transaction on Solana in December 2024.