Zeus Network joins Jupiter new coin area! ZEUS is listed on OKX and it hits nearly $1

Jupiter, a one-stop DeFi service platform in the Solana ecosystem, launched the cross-chain protocol Zeus Network through its new currency issuance platform LFG Launchpad at 9:00 pm last night (4) $ZEUS token sale event. This sale sets the starting price of $ZEUS at 0.3USDC and caps the price at 0.85USDC. A total of 50 million tokens will be sold (5% of the total supply).

In addition, 3% of the total supply of $ZEUS will be distributed to Dappie Gang holders, Zealy supporters and Jupiter voters through airdrops, with each group accounting for 1%.

The result was enthusiastically sought after by the market. All 50 million $ZEUS were sold out for $27.5 million in just 20 minutes. It was an amazing success.

$ZEUS was listed on OKX and hit nearly US$1

At the same time, OKX Exchange also announced the listing of $ZEUS, which reached a maximum of US$0.988 at the opening. Compared with the starting price, it has increased by more than 3 times. Before the deadline, it was selling at US$0.711, rising 138% in 24 hours, and its market value exceeded US$100 million.

What is Zeus Network?

Zeus Network is a cross-chain protocol that connects the partnership between Bitcoin and Solana. This protocol was developed by a Taiwanese team and aims to bring BTC into the Solana world to improve the speed of Solana and the security of Bitcoin. Founder Qiu Jun wrote on Facebook: Our vision is to give BTC millisecond-level transaction speeds, build a BTC-based DeFi ecosystem on Solana, and create a financial protocol with billions of traffic.

The project has successfully received support from well-known angel investors including Anatoly Yakovenko, co-founder of Solana, Andrew Kang, founder of Mechanism Capital, and Muneeb Ali, co-founder of Stacks (currently the largest L2 in Bitcoin). The lineup of investors certainly adds a sense of confidence and anticipation to its mission.

On top of the Zeus Network protocol, the project’s first product is Apollo, which is mainly responsible for introducing BTC to Solana. By allowing users to stake BTC directly on the Bitcoin chain and issue 1:1 anchored zBTC on Solana, the liquidity of BTC is transferred to Solana. Subsequently, zBTC can participate in DeFi protocols on Solana, such as Lending platforms such as Solend, marginfi, and Kamino Finance make BTC an income-generating asset. Apollo is expected to be launched in Q2 this year.

Yesterday, the project received another good news, successfully raising US$8 million in financing at a valuation of US$100 million, led by Mechanism Capital, with participation from OKX Venture, Anagram, Portal Venture, etc.

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