The exSat Network, built on the Bitcoin blockchain, has officially launched its staking services.

Bitcoin-based scaling solution exSat Network has launched staking services less than two weeks after its mainnet went live.

The Singapore-based startup announced on Nov. 5 that it is now offering staking opportunities for Bitcoin (BTC) holders, aiming to create “new financial opportunities” within the ecosystem. According to a press release shared with Pinetbox.com , the new staking service, available through the exSat bridge, offers users the potential for yield in exchange for staking their BTC.

In return for staking Bitcoin, users will receive XSAT, the native token of the exSat Network. While the XSAT token is expected to be listed on multiple exchanges in the future, no specific timeline for the listings has been disclosed.

The exSat bridge, developed in collaboration with custodians such as Ceffu, ChainUp, Cobo, and Cactus, has been audited by Blocksec to ensure security and reliability. The network has already secured over $488 million in total value locked (TVL) and is supported by more than 41 validators.

exSat’s Mission to Scale Bitcoin

Launched in late October, exSat is designed as a scaling solution to address Bitcoin’s limitations and enhance its functionality and scalability. By implementing a data consensus extension protocol that combines both proof-of-work (PoW) and proof-of-stake (PoS) mechanisms, exSat aims to improve Bitcoin’s consensus process and strengthen overall network security.

In September, Pinetbox.com reported that cryptocurrency exchange OKX joined the exSat Network as a validator node, backing efforts to enhance Bitcoin’s scalability and interoperability through exSat’s hybrid consensus model. Validators on the network are required to stake more than 100 BTC and exSat’s XSAT token to qualify for revenue rights.