Hold onto your hats, folks! MonkeDAO, the wildest bunch of NFT enthusiasts on Solana, just swung into the future by becoming the first decentralized autonomous organization to adopt a Bitcoin reserve! 🎉
On March 28, MonkeDAO announced it had snatched up the APOLLO token zBTC, which is like Bitcoin’s cooler cousin who just got a haircut and a new wardrobe. 🕶️
This shiny new zBTC is pegged 1:1 to Bitcoin, and it’s as native to Solana as a banana is to a monkey! 🍌 MonkeDAO is strutting its stuff as the first DAO to stash this token in its treasure chest. Arrr, matey! 🏴☠️
According to the APOLLO team (who are definitely not just a bunch of guys in a basement), this token offers BTC on-chain – no bridges, no wrapping, just pure permissionless goodness! Holders can dive into the decentralized finance pool on Solana and earn some sweet on-chain yield. 💸
MonkeDAO is tossing this zBTC into its treasury like it’s confetti at a monkey party! 🎊 The 1 zBTC they bought is going straight into the Strategic Monke Reserve. SMR is their fancy way of saying, “We’re serious about financial sustainability, folks!”
And let’s not forget, this is MonkeDAO’s big commitment to a permissionless ecosystem for Bitcoin DeFi, or as the cool kids call it, BTCFi. zBTC gives Bitcoin holders a chance to join the DeFi dance on Solana with lending, borrowing, and yield farming. 💃🕺
“The SMR is our commitment to long-term growth, and adding zBTC diversifies and strengthens our current pool of native assets,” MonkeDAO posted on X. (No, not the letter X, the social media platform! Get your mind out of the gutter!)
Now, let’s be real – this isn’t exactly the Strategy, formerly known as MicroStrategy, level of play, but it does show that confidence in Bitcoin is growing faster than a monkey on a sugar rush! 🍭
With its 1:1 peg to Bitcoin, APOLLO claims zBTC leverages a trustless two-way peg for security, achieved through a simple payment verification sidechain. It’s like a secret handshake for tokens! 🤝 The token also taps into a decentralized validator set on the Zeus Network, which sounds like something out of a superhero movie!
For its role in BTCFi, Apollo and Zeus Network are targeting the “trillions in value” on the Bitcoin network. That’s right, folks, they’re opening up BTC from its underutilized liquidity, like a monkey opening a treasure chest full of gold! 🏆
Zeus Network validated its first Bitcoin transaction on Solana in December 2024, proving that even the gods of Olympus can’t resist a good crypto party! 🎈
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2025-03-28 21:19