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The GOAT Foundation has officially revealed details for its upcoming token generation event for $GOATED. This token is designed to bolster the network by acting as a reward system and a governance tool.
Summary
- $GOATED will function as a governance mechanism and a reward system within the Bitcoin ZKRollup GOAT Network.
- Almost 40% of the total supply of 1 billion $GOATED tokens is designated for the ecosystem’s mining rewards pool, with the balance allocated to team members, early backers, the on-chain treasury, and community incentives such as airdrops.
The Bitcoin ZKRollup GOAT Network has launched its own foundation aiming to enhance the Bitcoin ecosystem by improving BTC scalability and providing yield while ensuring native BTC security. This independent entity is known as the GOAT Foundation.
Additionally, along with the announcement of the GOAT Foundation, the network has disclosed further details about the upcoming token generation event for its native token. While the GOAT Foundation has not yet provided an official release date, indications suggest a launch in the latter half of 2025.
Per the official announcement, the $GOATED token will unlock essential utilities within the GOAT network ecosystem. It will be utilized for staking or locking to increase BTC yield rates, facilitate mining rewards, and incentivize developers, among other functions.
Moreover, holders of $GOATED will have the ability to propose and vote on governance decisions concerning the GOAT Network. Stakers of $GOATED will also enhance their likelihood of being selected as sequencers, enabling them to directly earn BTC transaction fees. This initiative is designed to encourage user participation and engagement with the $GOATED token.
Tokenomics of GOAT Foundation for $GOATED
A significant portion of $GOATED will be designated for the GOAT ecosystem mining pool. Nearly 40% of the total supply of 1 billion $GOATED tokens will support the mining rewards pool, which encompasses sequencer mining, zk proof verification, and contributions to ecosystem supporters.
The GOAT Network is pioneering the first Bitcoin ecosystem blockchain to implement a decentralized sequencer model. This facilitates the dispersion of control and revenue across a network of sequencer node operators, rather than concentrating it in a single entity. These operators will receive rewards in both BTC and $GOATED tokens.
Additionally, rewards in $GOATED will be allocated to various stakeholders connected to the zk Proof verification process, as well as builders within the ecosystem.
“Mining Pool rewards are allocated for both dApp creators and users, encompassing activities like providing liquidity, staking, farming, borrowing, and lending, among others,” the network mentioned in its announcement.
Approximately 23% of the tokens will be distributed to the team, contributors, future employees, key partners, and advisors. These tokens will undergo a 12-month cliff period, followed by an 18-month linear vesting schedule.
Early supporters of the ecosystem will receive 15.58% of the total token supply, which will also be subject to a vesting schedule. Furthermore, around 15% of the tokens will be allocated to fund the on-chain treasury, aimed at supporting initiatives, providing liquidity, and creating incentives within the ecosystem.
Up to 7% of the total supply of 1 billion tokens is earmarked for airdrops, which will be accessible based on previous snapshots, encouraging user adoption and community engagement.
As stated in the announcement, 10.43% of the $GOATED total supply of 1 billion tokens will be unlocked at launch. Hence, approximately 100.43 million tokens will be available for trading on the token generation event day.
