I have held onto hope for the pancake ecosystem time and time again, but have encountered disappointment. From two years ago until now, most BtcFi ecosystems have been transformed, leaving only a few remaining. For example: Bob @ build_on_bob, Mezo, @ GOATRollup, etc. The fastest Tge among them is expected to be GOAT Network. This project team is quite capable of causing trouble, and the most impressive thing is using their own 34BTC to incentivize users and ecological contributors in the Bitcoin second layer. It also became the first Bitcoin Layer 2 project to use self owned BTC treasure to incentivize users and ecosystem contributors, marking a shift in the Bitcoin ecosystem from pure holding to productive incentives. Currently, over 2 BTC have been distributed. This is different from other projects that only issue their own tokens, but directly use native BTC as a reward, demonstrating the project's commitment to long-term ecological construction. The fund focuses on activating the complete BTCFi stack, including providing basic support for protocols, users, and developers. For example, liquidity providers can receive clear BTC incentives, and developers can expand the ecosystem through grants and contribution rewards. This is just a pilot project. In Q4 2025, a larger scale ecological development fund (worth tens of millions of dollars) will be launched to further deepen support. By converting BTC into a growth engine, the fund not only enhances network vitality but also provides users with authentic experiences such as staking points and future airdrops. This innovation emphasizes the principle of 'BTC in, BTC out', ensuring incentives are aligned with the core values of Bitcoin and driving sustainable innovation and adoption. As a native ZK Rollup project for Bitcoin, we focus on providing sustainable BTC returns by scaling Bitcoin Layer 2 through trust minimized infrastructure, local revenue generation, and decentralized sequencers. Emphasizing the security and sustainability of Bitcoin, the aim is to transform BTC from a mere "digital gold" into productive capital, supporting users to earn real BTC returns through staking, liquidity provision, and ecological contributions. Sustainable revenue mechanism The core competitiveness of GOAT Network lies in its sustainable BTC revenue mechanism, which does not rely on inflation or bridge speculation, but is based on actual network activity and verifiable on chain behavior, ensuring long-term stability and fairness. The revenue is mainly manifested in the form of real BTC APY, which users can earn through staking, liquidity provision, or participating in the network as sequencers. For example, on Artemis Finance, staking can earn over 7% of BTC APY, and the total APY can reach over 87%. In addition, the benefits also include a points system, which can be used for future airdrops and ecological rewards. The forms of returns are diverse, including token structures such as yBTC, pBTC, and yToken, providing flexibility and transparency. For institutional and retail users, profits can be achieved through zero risk self custody options, up to 10%+APY. The revenue comes from four interrelated channels, ensuring diversity and stability. Firstly, there is protocol level revenue, including BTC gas fees generated from user activities and MEV (maximum extractable value) capture. Next is income from sequencers: sequencers generate blocks to earn GOATED token rewards and share them from gas fees. The third is staking income, where users can earn local BTC rewards by locking in BTC (such as a 90 day lock up period, 2% APY). Finally, ecological funds (such as the 34 BTC pilot fund) provide additional incentives to support liquidity providers and developers. These sources are all anchored to the Bitcoin mainnet, ensuring that the returns are in native BTC rather than synthetic tokens. Sustainability stems from the design of mechanisms that avoid short-term speculation and collapse risks, such as the common high APY project collapsing overnight. Revenue is based on real usage and online activities, rather than inflation or external subsidies; The decentralized sequencer adopts a rotation mechanism and introduces slash punishment for malicious behavior to ensure system fairness and integrity. In addition, the project uses BitVM2 and zkRollup to implement real-time proof, inheriting the security of Bitcoin and avoiding centralization risks. The growth of TVL from $35 million to $200 million proves its attractiveness, rather than relying on short-term incentives. This structure positively correlates returns with ecological growth, forming a virtuous cycle: more activities bring in more income, which in turn motivates more participation. The model adopts a layered design, with the core being a decentralized sequencer system, which is the first of its kind in Bitcoin Layer 2. The sequencer achieves open participation through the 1-of-n honest assumption, and small retail investors can also earn rewards. The proof process is divided into three parallel stages, using Ziren zkVM (GPU accelerated) to ensure efficiency. Profit distribution includes: direct payment of gas fees in BTC; MEV is captured through auction mechanism; Staking product stratification risk (such as Safebox's zero risk option). The overall model emphasizes the native security of Bitcoin, protecting user assets through L1 fraud proof and forced exit mechanism (without third-party permission). The economics paper provides a detailed explanation on how to integrate these elements to form a sustainable BTCFi economy. We don't have much time left in the end. Those who want to participate can do so through my link: https://onepiece.goat.network/invite?ref=UXG94M