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Elastos Looks to Capture BTC Staking Demand With Bitcoin Layer 2 Offering
The platform is developing Bitcoin tools as the applications built on the network catch favor with investors.
Updated Apr 9, 2024, 11:08 p.m. Published Dec 19, 2023, 1:00 p.m.
Blockchain network Elastos is introducing BeL2, a Bitcoin layer-2 network, in a move that could capture billions of dollars in bitcoin [BTC] volumes from staking tools offered on the new platform.
BeL2 will allow more sophisticated bitcoin transactions than the base Bitcoin blockchain, including smart contracts and irreversible digital agreements, Elastos developers told CoinDesk. The smart contracts can be defined, managed, tracked and modified wholly on Bitcoin without needing an intermediary.
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The network will also let users stake their bitcoin holdings directly on the service, paying out yields while users interact with applications built on BeL2. Transactional fees are expected to be very low, potentially even eliminated, compared with the $10 average for Bitcoin transactions as of Tuesday.
"The arrival of BeL2 means that Bitcoin is now 'smart,' highlighting the potential for Bitcoin holders to stake their assets directly and earn interest on their holdings," Sasha Mitchel, head of strategy at BeL2 said in a note to CoinDesk. "It's always been an anomaly that Bitcoin reserves remained effectively 'dormant' between transactions."
Bitcoin layer-2 projects have flourished this year, with tokens of projects such as increasing as much as 300%. Such networks share a ledger that allows users to store data outside the main Bitcoin blockchain, enabling developers to build apps on the platform, just as they can on Ethereum and Solana.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Solana’s Drift Launches v3, With 10x Faster Trades
With v3, the team says that about 85% of market orders will fill in under half a second, and liquidity will deepen enough to bring slippage on larger trades down to around 0.02%.
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- Drift, one of the largest perpetuals trading platforms on Solana, has launched Drift v3, a major upgrade meant to make on-chain trading feel as fast and smooth as using a centralized exchange.
- The new version will deliver 10-times faster trade execution thanks to a rebuilt backend, marking the largest performance jump the project has made so far.
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