LeverFi, a leading DeFi platform specializing in leveraged spot trading, has announced an innovative development. The company is upgrading its devnet OmniZK to testnet in the upcoming week to provide a decentralized and scalable infrastructure. LeverFi shared this exciting news on their official X account.
“We are thrilled to announce the upgrade of #OmniZK devnet to testnet next week! This upgrade brings us closer to delivering a top-tier scalable, decentralized infrastructure to support the growth of #BTC DeFi.”
In addition to this, LeverFi released a blog post on Medium with all the pertinent information. The platform has set the upgrade for the 18th of this month, marking a significant milestone for OmniZK. LeverFi emphasized that this advancement is a crucial step forward in offering decentralized and scalable infrastructure to its users.
The new infrastructure is expected to boost the development and expansion of BTC-DeFi, which currently lags behind in the Web3 ecosystem due to the design of the Bitcoin Network. LeverFi highlighted the challenges faced by Bitcoin-based DeFi and the pivotal role played by the OmniZK SDK in addressing these issues. The SDK allows developers to create non-custodial BTC native apps with enhanced functionality and logic, thereby enhancing the scalability of the BTC network.
The project focuses on trustlessness, decentralization, and security while presenting a decentralized alternative to BTC L2s, which rely on institutional custodians or multi-sigs. LeverFi emphasized that OmniZK supports a wide range of inter-chain BTC use cases, including local network settlements and non-custodial liquid staking of Bitcoin. The project also enables cross-chain BTC DeFi markets, decentralized token bridges, and management of the Omnichain.
Tags: BTC, DeFi, LeverFi, OmniZK, Testnet Upgrade, Decentralized Infrastructure.