Singapore, Singapore, November 5th, 2024,
Chainwire
exSat Network, an innovative scaling solution built to expand
and enhance the Bitcoin ecosystem, is pleased to announce the
launch of the exSat bridge, introducing Bitcoin staking. Arriving
just under two weeks after the mainnet launch, this advancement
opens new yield opportunities for Bitcoin holders.
Extending Satoshi’s vision means creating new financial
opportunities, and Bitcoin staking is a substantial advancement. As
the most valuable digital asset with unmatched trading activity,
Bitcoin now offers yield potential through staking. When users
stake BTC, they receive a wrapped token, XBTC, bonded 1:1 with
native BTC, allowing them to maintain control of their original
Bitcoin while earning yield.
Staking on the exSat Network also supports network security. In
return, stakers earn XSAT, the native token powering the exSat
ecosystem, which will be available for trading on various exchanges
in the future.
The exSat bridge was developed in partnership with leading
custodians Ceffu, ChainUp, Cobo, and Cactus, and has undergone
thorough auditing by Blocksec. This combination of rigorous
auditing and trusted custodial collaboration ensures that the exSat
bridge is secure, transparent, and reliable.
To date, exSat Network has attracted over $488 million in Total Value
Locked (TVL), supported by over 41 validators, with more than
50% of Bitcoin’s hash rate synchronizing data on the network. Key
industry partners participating in the exSat Network include
Matrixport, Spiderpool, Antpool, viaBTC, Everstake, HashKey Cloud,
Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, and Cactus Custody,
among others.
Staking Bitcoin on the exSat Network is simple and direct:
connect your wallet, bridge BTC to obtain XBTC, stake XBTC with a
validator, and earn XSAT. This streamlined process enables Bitcoin
stakers to earn XSAT tokens immediately, rather than accumulating
points or waiting for future airdrops.
For more information about the exSat Network launch and to stay
updated on upcoming developments, visit exSat on X and our website.
About exSat Network
exSat is dedicated to addressing the scalability and
interoperability challenges of Bitcoin to achieve the vision of
Bitcoin’s mass adoption. By implementing a Data Consensus Extension
Protocol that combines Proof of Work (PoW) and Proof of Stake
(PoS), exSat aims to enhance BTC’s data consensus, scalability,
security, and interoperability within the ecosystem.
Contact
CMO
Tristan
Dickinson
exSat
tristan.dickinson@exsat.org