Meta|Dec 09, 2025 03:17
In the past few days, I have taken the time to re-examine @ GOATRollup's economic white paper. In fact, the ultimate problem to be solved is still the issue of idle BTC assets.
Most BTC just lie quietly in their wallets and cannot generate returns like ETH or stablecoins. Long term holders can only rely on the returns brought by price increases, but passive returns in bear markets appear inadequate.
GOAT transforms BTC from a passive asset to an actively profitable asset through a decentralized sorter and multi currency PoS mechanism.
Gas fee income: Users pay BTC as a gas fee to execute transactions, and the sorter collects these fees
Profit sharing: BTC holders earn income by participating in PoS verification and sharing the sorter
Tokenization rewards: Third parties can create revenue tokens such as yBTC to make rewards tradable
The most interesting one is the yBTC decomposition mechanism
YBTC can be further decomposed into pBTC (principal token) and yToken (revenue token)
BTC suppliers can choose to hold either the principal or a portion of the earnings
Hedgers can separate risk exposures
Arbitrageurs arbitrage between different maturity periods
Speculator trading profit expectations
Unlike other projects that rely on token issuance or airdrops, GOAT's revenue comes from:
Gas fees that users must pay
GoatBTC minting/redemption fees
MEV generated from online trading activities
As long as the @ GOATRollup network exists, the benefits will continue to exist. This is the true sustainable return of BTC.
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