This article provides a comprehensive overview of the goNativeCC protocol on the Sui Testnet, including its project details, funding, revenue model, and a step-by-step guide for interacting with the platform for a potential airdrop.
GoNative Project Overview
GoNative, also known as Native’s Bitcoin Yield Hub, is a platform designed to allow users to earn yield on their Bitcoin holdings. A key feature is its ability to do so without requiring users to bridge or wrap their Bitcoin, or rely on centralized custodians. The project is built on the Sui Network, leveraging its high-speed and low-cost transactions.
Technology and Core Concepts
GoNative utilizes a Zero Trust Architecture and 2PC-MPC cryptography to ensure security and decentralization. It introduces nBTC, a non-custodial, trust-minimized representation of Bitcoin, which is 1:1 backed by real BTC held in decentralized dWallets. This approach aims to bring Bitcoin’s liquidity into DeFi while maintaining user control and aligning with Bitcoin’s core principles.
Roadmap
- Q2 2025: Focus on nBTC smart contracts and UI for minting, Bitcoin proving and verification system, integration with select DeFi partners, and community activation.
- Q3 2025: Planned integration with IKA testnet, enabling withdrawals, bridge transactions, co-marketing efforts, a Testnet Campaign with user activities, and the launch of BTCFi Beelievers NFT.
- June-July 2025: Launch of Native Mainnet, expansion of the Bitcoin Yield Hub, integration with more DeFi and social applications, liquidity mining, and comarketing/PR activities.
- Q4 2025 – Q1 2026: Introduction of Bitcoin “Single-click” integration, Token Generation Event (TGE), governance module, BTC Orchestration, IBC Integration, and support for Dogecoin & Litecoin, alongside further PR and marketing campaigns.
Revenue Model / Yield Generation
The yield generated on nBTC originates from three primary sources:
- DeFi Supply and Demand: Users earn interest or fees by deploying nBTC in lending markets or liquidity pools.
- Native Protocol Incentives: These are distributed to encourage early adoption and bootstrap BTCFi use cases.
- Partner Rewards: Offered by ecosystem protocols seeking to attract nBTC into their products and drive BTC-based activity on Sui.
Funding and Team Information
Direct funding information specifically for GoNative as a separate entity is not readily available through public searches. However, GoNative leverages technology from Ika, which has successfully raised over $21 million in total funding. This indicates that GoNative benefits from the technological advancements and backing of a well-funded partner in the blockchain space, particularly in the area of 2PC-MPC cryptography.
Information regarding the core team members of goNativeCC is not publicly disclosed in the search results.
Step-by-Step Guide for Interacting with GoNative (Sui Testnet) Airdrop
This guide outlines the steps to interact with the GoNative protocol on the Sui Testnet for a potential airdrop. Please note that this is a testnet environment, and the process may change for the mainnet.
Prerequisites:
- Slush Wallet: Ensure you have the Slush Wallet installed and configured for the Sui Testnet.
- Testnet SUI Tokens: You will need testnet SUI tokens to perform swaps. You can obtain these from the Sui Faucet (https://faucet.sui.io/) or alternative faucets mentioned on the GoNative application page.
Interaction Steps:
1. Access the goNativeCC BYIELD Application:
- Navigate to the BYIELD application: https://byield.gonative.cc/
2. Connect Your Sui Wallet:
- On the BYIELD application page, click on the “Connect Sui Wallet” button.
- Follow the prompts in your Slush Wallet to connect it to the BYIELD application.
3. Obtain Testnet SUI Tokens (if needed):
- If you do not have sufficient testnet SUI, click on the “Request Sui Tokens from faucet” link or check the “alternative faucets” links provided on the BYIELD application page.
- Follow the instructions on the faucet page to claim your testnet SUI tokens.
4. Swap SUI to nBTC:
- Once your wallet is connected and you have testnet SUI tokens, locate the input fields for swapping SUI to nBTC.
- Enter the desired amount of SUI you wish to swap. The application indicates a fixed price of 25,000 SUI / nBTC.
- Confirm the transaction in your Slush Wallet when prompted.
5. Complete the Whitelist Application Form
- After making your first NBTC swap transaction, complete the application form for the BTCFi Beelievers NFT whitelist.
Michael Gu
Michael Gu, Creator of Boxmining, stared in the Blockchain space as a Bitcoin miner in 2012. Something he immediately noticed was that accurate information is hard to come by in this space. He started Boxmining in 2017 mainly as a passion project, to educate people on digital assets and share his experiences. Being based in Asia, Michael also found a huge discrepancy between digital asset trends and knowledge gap in the West and China.