exSat Network Launches Bitcoin Staking
Singapore, Singapore, November 5th, 2024, Chainwire
exSat Network, an innovative scaling solution built to expand and enhance the Bitcoin ecosystem, is pleased to announce the launch of the exSat bridge, introducing Bitcoin staking. Arriving just under two weeks after the mainnet launch, this advancement opens new yield opportunities for Bitcoin holders.
Extending Satoshi’s vision means creating new financial opportunities, and Bitcoin staking is a substantial advancement. As the most valuable digital asset with unmatched trading activity, Bitcoin now offers yield potential through staking. When users stake BTC, they receive a wrapped token, XBTC, bonded 1:1 with native BTC, allowing them to maintain control of their original Bitcoin while earning yield.
Staking on the exSat Network also supports network security. In return, stakers earn XSAT, the native token powering the exSat ecosystem, which will be available for trading on various exchanges in the future.
The exSat bridge was developed in partnership with leading custodians Ceffu, ChainUp, Cobo, and Cactus, and has undergone thorough auditing by Blocksec. This combination of rigorous auditing and trusted custodial collaboration ensures that the exSat bridge is secure, transparent, and reliable.
To date, exSat Network has attracted over $488 million in Total Value Locked (TVL), supported by over 41 validators, with more than 50% of Bitcoin’s hash rate synchronizing data on the network. Key industry partners participating in the exSat Network include Matrixport, Spiderpool, Antpool, viaBTC, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, and Cactus Custody, among others.
Staking Bitcoin on the exSat Network is simple and direct: connect your wallet, bridge BTC to obtain XBTC, stake XBTC with a validator, and earn XSAT. This streamlined process enables Bitcoin stakers to earn XSAT tokens immediately, rather than accumulating points or waiting for future airdrops.
For more information about the exSat Network launch and to stay updated on upcoming developments, visit exSat on X and our website.
About exSat Network
exSat is dedicated to addressing the scalability and interoperability challenges of Bitcoin to achieve the vision of Bitcoin’s mass adoption. By implementing a Data Consensus Extension Protocol that combines Proof of Work (PoW) and Proof of Stake (PoS), exSat aims to enhance BTC’s data consensus, scalability, security, and interoperability within the ecosystem.
