Citrea has launched its mainnet, introducing a Bitcoin-native software layer constructed for on-chain buying and selling, lending, and settlement.
Abstract
- Citrea went reside on Jan. 27 with a ZK-rollup designed to help Bitcoin-native functions
- The community introduces cBTC and ctUSD for trust-minimized BTC use and stablecoin liquidity
- Citrea launched with greater than 30 Bitcoin-secured functions at mainnet debut
Bitcoin ZK-rollup Citrea has launched its mainnet, opening the door for lending, buying and selling, and settlement immediately on the Bitcoin community.
The launch was introduced on Jan. 27, marking a step towards increasing Bitcoin’s use past long-term holding into on-chain monetary exercise.
Bringing functions on to Bitcoin
Citrea positions itself as an software layer constructed particularly for Bitcoin (BTC) capital markets. The layer 1 is designed to maintain liquidity anchored to Bitcoin whereas enabling programmable functions secured by the community itself.
At launch, the community introduces cBTC, a Bitcoin-backed asset for use throughout decentralized functions, and ctUSD, a local stablecoin supposed to help on-chain liquidity.
In keeping with Citrea, cBTC makes use of zero-knowledge proofs and BitVM-based verification to cut back reliance on custodians or multisignature belief setups. Any try at fraudulent exercise will be challenged on the Bitcoin mainnet, supplied no less than one trustworthy participant is current. This mannequin is meant to offer a better degree of safety than earlier Bitcoin bridge designs.
Alongside these property, Citrea’s mainnet debuts with greater than 30 Bitcoin-secured functions, together with decentralized exchanges, liquidity instruments, and early-stage lending and privacy-focused providers. Further functions and structured yield merchandise are anticipated to roll out within the coming weeks.
Stablecoin liquidity and early ecosystem development
To help buying and selling and settlement, Citrea has launched ctUSD, a Bitcoin-native stablecoin issued by MoonPay and constructed on M0’s open stablecoin infrastructure. The stablecoin is accessible in america (aside from New York) and greater than 160 different nations, and it’s designed with institutional compliance in thoughts.
Moreover, Citrea has launched a consumer dashboard that allows customers to handle property all through the ecosystem, monitor exercise, and discover functions.. From day one, consumer actions on reside functions are recorded, with plans to broaden dashboard options as extra instruments come on-line.
Wanting forward, Citrea says its focus is on rising Bitcoin-denominated monetary exercise whereas strengthening incentives for miners via elevated community utilization. The staff describes the mainnet launch as an early step towards making Bitcoin a extra energetic monetary platform, moderately than only a retailer of worth.
