- ExSat Network’s mainnet enhances Bitcoin scalability for multichain dApps.
- $200 million in TVL supports DeFi services and asset tokenization.
exSat, a groundbreaking Bitcoin scaling solution, has officially launched its mainnet, marking an important turning point in its goal to improve the Bitcoin ecosystem. With a remarkable total locked value (TVL) of $200 million in its vaults, exSat strives to fulfill Satoshi Nakamoto’s goal of a decentralized financial network that overcomes the hurdles that Bitcoin has faced over the last decade.
By focusing on security, scalability, and usability, exSat is set to open new Bitcoin applications, giving consumers more power and freedom over their funds. This launch demonstrates exSat’s dedication to building a more efficient and secure Bitcoin environment, hence allowing further use of the technology.
Innovative Scaling for Bitcoin
To ensure a stable and decentralized network, exSat cooperated with over 50 industry-leading validators, each of whom staked at least 500 BTC. ExSat has partnered with prominent firms such as Matrixport, Antpool, and Spiderpool to enhance the network’s security and dependability. The synchronizers engaged, which include big players such as via BTC and F2Pool, account for a remarkable 53.3% of Bitcoin’s hash rate, further improving the network’s reliability.
Along with the mainnet launch, exSat successfully completed its token generation event (TGE) for its native token, XSAT. XSAT, the utility token of the exSat platform, reflects Bitcoin’s principles by combining the strengths of Proof of Work (PoW) and Proof of Stake (PoS). This novel coin compensates participants miners, validators, and stakeholders for securing and engaging with the network.
XSAT is especially famous for its fair launch standards, which ensure openness and equality among participants. Miners earn the token by mining native Bitcoin blocks and validating data on the exSat network, showcasing their commitment to creating a diverse and inclusive ecosystem.
As part of the expansion, ExSat successfully raised $200 million in Total Value Locked (TVL), which included tokenized Bitcoin assets valued at 5,000 and 10,000 BTC. This liquidity will provide the basis for financial services built on the exSat network, such as decentralized finance (DeFi) applications for trading, lending, and staking. Furthermore, the exSat protocol seeks to enable the tokenization of real-world assets, such as renewable energy sources, while leveraging Bitcoin’s Proof-of-Work consensus.
ExSat is well-positioned to become an innovator in the development of a decentralized UTXO index for Bitcoin by replicating its UTXO data on the blockchain. This invention enhances Bitcoin’s utility while retaining trust and security, allowing the ecosystem to reach its full potential.
