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Staking Circle
Staking Circle
Jun 14, 2024
7 min read

Exploring Bitcoin L2 w/ Tuna Chain

Exploring Bitcoin L2 w/ Tuna Chain

Tuna Chain leverages a hybrid system that combines roll-ups and modular technology to improve transaction efficiency and scalability. Native Bitcoin assets on Tuna Chain are secured using Taproot upgrades, ensuring reliable Layer 2 solutions.

Tuna Chain uses $TUNA; $TORO, and $WOOG tokens for governance, stablecoin uses, and more. With the mainnet launch approaching, Tuna Chain hopes to increase developer participation and dApp integration by giving staking incentives with an initial APR of ~30%. For further information and updates, explore the AMA highlights below:

X Spaces: Exploring Bitcoin L2 with Tuna Chain

Youtube: Exploring Bitcoin L2 with Tuna Chain

Spotify: Exploring Bitcoin L2 with Tuna Chain

Speakers:

Index:

  1. Modular Blockchains
  2. Tuna Chain’s Approach
  3. Secure Native Assets on Bitcoin for Tuna Chain
  4. Tuna Chain Tokens: $TUNA, $TORO, and $WOOG
  5. Staking and Yields on Tuna Chain
  6. Tuna Chain’s Upcoming Developments
  7. Future Events and Involvement

1. Modular Blockchains

  • Cava explained modular blockchains, breaking down their structure into layers: consensus, data availability, execution, and settlement:

Modular blockchains are designed to separate different functions of a blockchain into distinct interchangeable modules. For example, if we do a transaction, we will separate different aspects or different parts of this transaction. So basically, we divide it into the consensus layer, the data availability layer, and the execution layer, and the settlement layer.

  • Benefits of modularity include better scalability, flexibility, security, and working together for users and developers. It allows for smoother transactions and building ecosystems at a lower cost:

The most beneficial parts or benefits of modular philosophy is we increase the scalability and flexibility and security and interoperability (...) So users can do the transactions more seamlessly and efficiently. And also for our layer 2 or our technology side or our project side, we can build up the whole ecosystem with less cost.

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2. Tuna Chain’s Approach

  • Tuna Chain uses a hybrid system that includes roll-ups and decay, along with modular technology:

We use the roll-up and decay as a hybrid approach. But on the other hand, we also use the modular approach. Both of this approach benefit to our ecosystem and our technology side as well.

  • Their strategy merges the security of DK roll-ups with the scalability and ease of optimistic roll-ups:

So the zk Rollup model bundles multiple transactions into one single batch and generates a cryptographic proof. So I think the advantage is the security and the incident and the familiarity (...) But in terms of the OP, optimistic roll-ups, the OP can handle multiple transactions into a single batch, but assume that transactions are valid by default (...) So we hybrid this approach to abstract the advantage, but to escape their disadvantage to some extent.

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3. Secure Native Assets on Bitcoin for Tuna Chain

  • They protect Bitcoin native assets on Tuna Chain by using Taproot upgrades:

So we leverage enhancements bought by Taproot, Tuna Chain can implement a robust security framework for native Bitcoin assets

  • They use a mix of Schnorr signatures, MAST (Merkelised Abstract Syntax Trees), and Tapscript for a solid, scalable L2 solution:

So it's a combination of Schnorr signature, the MAST , and the Tapscript also provide the fundamental tools needed to build a secure and efficient and scalable Layer 2 solution.

  • They use a multi-signature method with plans for outside validators to keep secure and reliable operations:

Tuna Chain’s initial multi-signature approach, along with plans for introducing external validators, ensure that that work remains secure and resilient as it evolves.

4. Tuna Chain Tokens: $TUNA, $TORO, and $WOOG

  • $TUNA: Native token for governance, work rewards, staking, and network fees:

So the most important one would be the $TUNA. This is the TunaChain's native token. Basically, $TUNA is the governance token, it's used for voting rights, jobs, on-chain incentives, staking and security, like network purchases and the transaction fees as well. So the main purpose of it is governance.

  • $TORO: Tuna Chain's native stablecoin, lets BTC holders earn high APY without selling their BTC:

So $TORO is one of the most essential ones as well. This is the native stablecoin in our layer 2. It's central to Tuna Chain and is an exceptional Stablecoin, firmly tuned to many users requirement. $TORO users can secure a stable digital asset by over-collateralizing them with BTC holdings. And BTC Holdings now have the opportunity to earn significant yields on $TORO and join the high APY without needing to liquidate their valuable BTC asset as well.

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  • $WOOG: Utility token with a limited amount of 1000. 200 $WOOG distributed during the Bybit BRC20 event, with 800 kept for future release by outside factors:

So the $WOOG is a utility token that plays a wide role in the Tuna Chain ecosystem as well. So it serves as an exclusive gateway to experience, to first-hand the diverse ecosystem of the Tuna Chain. (...) The total supply of work was, I think it's 1000 with 200 word tokens slated for distribution during the Bybit BRC20 inscription launchpad event and the rest of them would be 800 are currently sealed and will only be unlocked upon activation by external forces in near future.

5. Staking and Yields on Tuna Chain

  • Tuna Chain will have staking connected to TunaDAO, aiming to support and improve the platform's environment:

So the information will be announced in the near future and maybe along with launch of our mainnet. So users can definitely stake their tokens to participate in network conferences and earn rewards as well. So TunaDAO is designed to empower the ecosystem by involving community members in governance and rewarding.

  • Staking rewards are expected to start at an APR of 30% during the mainnet launch period, but details will be announced later:

In our official website, you can see the initial stake and reward will offer the APR for 30%. So this is just a rough number. So anything like details will come up later.

6. Tuna Chain’s Upcoming Developments

  • The goal to start the mainnet soon, opening up for more developer and DApp integration in Tuna Chain’s environment:

The first one is we're pushing for what the Tuna Chain Mainnet hoping to launch it in the near future as I mentioned before. This is crucial for development of Tunas ecosystem and the team subsequent plans because after we launching our mainnet, we can involve more developers in or dApps to build on our layer 2.

  • A bridge from Bitcoin is being made to make transfers to Tuna Chain easier:

The second one is native bridge. from Bitcoin to Tuna Mainnet. This is the kind of like breakthrough as well. Because I think the bridge is very, very like vital thing for layer two or for any platform

  • Plans include adopting a modular DA (Data Availability) layer to better cost efficiency, possibly working with Celestia:

And the third one with the modular DA layer. As we just talked, modular is the best way to reduce the cost and to increase the efficiency. So we want to integrate in the near future with the Celestia Power, the modularity for reducing the cost and interest.

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7. Future Events and Involvements

  • Tuna Chain will have people at Ethereum CC on July 8th and were invited to BTC Summit side event by Staking Circle:

My colleague would go there, definitely. So we can just meet there and to discuss more about how can we flourish our ecosystem.

Staking Circle - “For sure. So here's our formal invitation. We will have a BTC Summit side event during the ATCC. It will be on July 8th. The venue will be at the Puterie 20th in Brussels. So I invite you to come there and hang out.

  • Updates and ways to get involved will be shared through Tuna Chain’s official site, their Twitter, and Discord:

And we will do the collaboration announcements and then we will try to integrate them. So probably a lot of like marketing campaigns or promotion we will do in the near future and I think everyone, if you're interested in, you can stay into to our website official website, or especially our Twitter.

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