Monkedao, a non-guide non-giant token project on Solana, has announced that it has become the first decentralized autonomous organization that has adopted a Bitcoin reserve.
Solana (SOL) Located Monkedao announced On March 28, it had taken over a Bitcoin (BTC) reserve in its strategy by acquiring the Apollo on Solana -Token ZBTC.
The newly launched ZBTC is a sign linked 1: 1 to Bitcoin and native to solana. Monkedao is the first Dao to have taken over to his treasury reserve.
According to the Apollo team, it offers token BTC on-chain-not bridged or packaged but permissionless. Holders can tap this token to participate in decentralized financing on Solana, making them on-chain proceeds.
Monkedao says it adds this ZBTC to his treasury.
The purchased 1 ZBTC goes to the strategic Monke Reserve. SMR is the Treasury Reserve strategy of the NFT DAO project that will help the community to promote financial sustainability.
It is also the dedication of Monkedao to a permissionless ecosystem for Bitcoin Defi or BTCFI. ZBTC offers Bitcoin holders the opportunity to participate in Defi on Solana through loans, borrowing and yields from agricultural activities.
“The SMR is our dedication to long -term growth and the addition of ZBTC diversify [and] Strengthens our current Pole of Native Activa, ”placed Monkedao on X.
This strategy is nevertheless not the strategy, formerly micro strategy, play of play, but it does illustrate the growing confidence in Bitcoin.
In addition to the 1: 1 PEG with Bitcoin, Apollo says that ZBTC makes the Trustless Two-Way PEG for security, which actually achieves it through a simple payment verification verification sidechain. Token also uses a decentralized validator set to the Zeus network.
For his role in BTCFI, Apollo and Zeus Network are focused on the “billions in value” on the Bitcoin network.
Opening BTC for its under -utilized liquidity, with Hodlers’ coins inactive in portfolios, is a great chance for growth and Use Case reinforcement. Zeus Network validated his first Bitcoin transaction on Solana in December 2024.
