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- GOAT Foundation reveals the $GOATED token event, aiming to enhance Bitcoin through decentralized network security.
- The $GOATED token will enable staking, miner rewards, and governance voting to empower network participants.
- 40% of $GOATED tokens are allocated to mining rewards, while 23% support the team, partners, and advisors.
GOAT Foundation has officially declared its next token generation event (TGE) of the token, $GOATED. This token will aid the Bitcoin ZKRollup GOAT Network. The foundation is interested in improving Bitcoin through the introduction of a decentralized network with a native BTC security. The TGE will begin in the 2nd half of 2025, although no specific date has been determined.
The different functions that $GOATED will fulfill within the network are as follows. It will be applied in staking, rewarding miners, and incentivizing developers. The token will also enable users to get involved in running the business and will allow them to vote on matters that will impact the future of the network. This is a model of governance that provides direct control by the holders of $GOED to the network.
Decentralized Sequencer Model for Bitcoin Security
The GOAT Network proposes a decentralized sequencer model. Unlike traditional systems, this model features a distribution of control among the operators of multiple sequencer nodes. By securing the network and operating it, these operators will have the chance to earn BTC and $GODED tokens. This method encourages decentralization so that a single individual will not have the chance of controlling it.
GOATED stakers will get an opportunity to be sequencers. This will enable them to make BTC transaction fees. The model reinforces sustained involvement by rewarding network users.
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GOAT Foundation $GOATED Distribution for Mining and Rewards
However, the breakdown of tokens supplied indicates that 5 out of 10 tokens will be given in mining rewards. A pool of this nature will showcase sequencer mining, zk proof verification, and an ecosystem card. Additionally, 23 percent will be allocated to the team, central partners, and advisors, with a 12-month cliff and an 18-month vesting period.
The initial followers will get 15.58% of the total number of tokens, with a cliff and a vesting period too. Moreover, 15% of the tokens will be allocated to the on-chain treasury, which will provide financing to future initiatives, liquidity, and ecosystem incentives. The remaining 7 will go to airdrop giveaways and get some user adoption and participation.
Source: GOAT Network
On the day of launch, 10.43% of the overall amount received by ownership of the $GOATED will be unlocked and tradeable. This will be approximately 100.43 million tokens. This is a significant move towards the goal of the GOAT Foundation of scaling the Bitcoin ecosystem. The $GOATED token will play a vital role in terms of decentralizing, strengthening, and improving the network.
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