Zero-knowledge (ZK)-based Bitcoin layer2 Citrea launched its mainnet on Jan. 28, it said. The mainnet launch allows users to access various services using on-chain assets on the Bitcoin network.

Citrea is a Bitcoin application platform that aims to expand bitcoin from a simple store of value into an asset with practical uses. Citrea has raised investment from global investors including venture capital firms Founders Fund and Galaxy Ventures.

Citrea said it plans to focus on implementing core technologies alongside the mainnet launch, including Bitcoin-based collateral use and structured asset services. To that end, it is introducing more than 30 Bitcoin-native applications and will also provide a dedicated dashboard service to track user activity and manage profiles.

Citrea plans to advance its ecosystem by creating transaction demand on the network to offer bitcoin miners a new reward system and by linking overall network security to real economic activity.

Citrea also introduced the ctUSD stablecoin to support asset exchanges (swaps) within its ecosystem. ctUSD is backed 100 percent by short-term U.S. Treasuries and cash and was issued through cooperation between Citrea and global web3 payments infrastructure company MoonPay.

Orkun Kilic (오르쿤 킬리치), co-founder and chief executive officer of Citrea developer Chainway Labs, said bitcoin has had limited use cases despite being the world’s largest digital asset. He said the Citrea mainnet supports using bitcoin on-chain and that ctUSD will serve as a bridgehead for securing institutional-grade liquidity that connects the existing asset system and bitcoin.