Key takeaways:
- exSat Network launched its mainnet with 41 validators and $281M in total value locked.
- The platform integrates both Proof of Work and Proof of Stake, with the native XSAT token earned through mining and network validation.
- Industry partners like Matrixport are expected to boost the ecosystem through staking and dApp development.
exSat Network goes live with over $281 million in TVL
Bitcoin-based exSat Network, a scaling solution aimed at improving Bitcoin‘s functionality, has officially launched its mainnet, marking a significant milestone for both its community and the broader blockchain ecosystem. They confirmed the launch on their official X/Twitter page.
The platform is designed to expand the utility of Bitcoin by providing a more scalable infrastructure, a vision originally set by Bitcoin’s creator, Satoshi Nakamoto.
While most of Bitcoin has already been mined, exSat is working to fulfill the promise of decentralized finance by integrating new layers of functionality. This launch, secured by a network of 41 validators, kicks off with more than $281 million in total value locked (TVL), positioning exSat as one of the largest projects in the Bitcoin ecosystem.
A robust network secured by validators and synchronizers
exSat’s mainnet launch introduces the XSAT token, which follows Bitcoin’s fair launch principles, ensuring transparency with no pre-mining or pre-allocations. The network combines the security of Proof of Work (PoW) with the flexibility of Proof of Stake (PoS), offering participants the chance to earn XSAT through mining and validating native Bitcoin blocks.
The platform’s security is further reinforced by key synchronizers such as Antpool, Spiderpool, viaBTC, and F2Pool, which collectively represent more than 53.4% of Bitcoin’s hash rate. These synchronizers ensure that Bitcoin’s UTXO data is consistently mirrored on-chain, maintaining trust and improving the platform’s security.
Strategic partnerships to boost growth
Matrixport, one of the industry’s leading names, has played a pivotal role in the network’s early success. The company, which recently announced a partnership with exSat at Token2049, has committed to staking between 5,000 and 10,000 nBTC into the network. In addition to staking, Matrixport will contribute to decentralized app (dApp) development, helping to expand exSat’s ecosystem.
As a result of this collaboration, the exSat network is expected to see significant growth in the coming months. The platform’s ability to mirror Bitcoin’s UTXO data on-chain sets it apart from other scaling solutions, enabling new applications like BTCFi (Bitcoin Finance) to expand Bitcoin’s utility while maintaining its inherent trust and security.
Conclusion
The launch of exSat’s mainnet marks an important development in the Bitcoin ecosystem, bringing both scalability and security enhancements. With over $281 million in TVL and strong backing from industry partners like Matrixport, the network is positioned to unlock new opportunities for decentralized finance on Bitcoin. The innovative combination of PoW and PoS, along with its unique UTXO data indexing, opens the door for new applications and long-term growth in the blockchain space.
