As 2023 draws to a close, Bitcoin has embarked on a remarkable bull-bear transition this year!
From its starting point of $16,500 at the beginning of the year to breaking through $44,000 in mid-December, Bitcoin has surged by over 2.5 times this year. Even more exciting is that the BRC-20 token and the Bitcoin ecosystem have become the strongest investment themes.
Inscriptions, which initially referred to digital collectibles (NFTs) inscribed through the Ordinals protocol, have now evolved into a well-established new asset, the Fair Launch method of issuance, that has gained popularity across various chains. This has come as a surprise even to Ordinals founder Domo, and it is anticipated that more creative protocols and projects will emerge in the future.
Currently, Binance and OKX are actively listing inscription projects. Despite the many innovations surrounding Bitcoin, such as Ordinals/BRC-20, the current state of the Bitcoin ecosystem remains relatively weak, with only inscriptions and memes unable to change this.
Related liquidity, DeFi, and other commonly seen hom*ologous products in other ecosystems, as well as related basic designs, also need to appear on a large scale.
Projects dedicated to building Bitcoin infrastructure have begun to attract market attention and have shown impressive growth, becoming another hot topic in the bull market narrative.
This article summarizes some of the more promising Bitcoin ecosystem infrastructure targets, some of which have already been listed on major exchanges, while others have a high probability of being listed.
Bitcoin Ecosystem Launchpad: Bounce Finance (auction) Already listed on Binance, OKX
Bitcoin Cross-Chain Bridge: MultiBit (mubi) Already listed on Gate, Bitget,Matcha
Bitcoin L2 DeFi Leader: Stacks (STX) Already listed on Binance
Bitcoin DeFi Platform: Alex lab (Alex) Already listed on Gate, Matcha
Lightning Network Asset Issuance Platform: NostrAssets (TREAT/TRICK)
MakerDAO of the Bitcoin Ecosystem: BitStable (BSSB) Already listed on HTX
DAI of the Bitcoin Ecosystem: DAII
Bitcoin Ecosystem Launchpad: TurtSat (TURT) Already listed on Gate, Matcha, HTX
Bitcoin Ecosystem Cross-Chain + Lending Protocol: bitdova (DOVA)
Decentralized Stablecoin Protocol of the Bitcoin Ecosystem: Uplink Finance (UPFI)
This article selects 5 of the above projects for introduction:
Bitcoin DeFi Platform: Alex lab
ALEX is a Bitcoin DeFi platform based on the Stacks blockchain, dedicated to activating the diverse use cases of Bitcoin. ALEX primarily provides the following services: project token launches, fixed-rating and fixed-term loans without liquidation risks, a DEX (decentralized exchange) with an AMM mechanism, and the ability to deposit tokens to earn interest and gain high returns through yield farming.
ALEX aims to break down the barriers between Bitcoin Layer 1 (L1) and Layer 2 (L2) to provide a seamless Bitcoin DeFi experience.
Project website: https://app.alexlab.co/swap
Bitcoin Ecosystem Launchpad: Bounce Finance (auction)
Bounce is a decentralized auction platform that integrates liquidity mining, decentralized governance, and a staking mechanism.
The project’s positioning is to be the most cutting-edge decentralized platform in the Bitcoin ecosystem, committed to expanding Bitcoin’s potential through DeFi innovation!
In February 2023, Bounce V3 was officially launched, significantly reforming the original auction method. It introduced Auction-as-a-Service (AaaS), adding an innovative regret function to fixed swap auctions, allowing participants to withdraw their bids at any time during the auction.
On December 17, the recently concluded project BDID had a principal yield of 15%, far exceeding the Binance IEO yield!
Project website: https://www.bounce.finance/
MakerDAO of the Bitcoin Ecosystem: BitStable (BSSB)
BitStable is a decentralized asset protocol based on the Bitcoin network. Through this platform, anyone can generate $DAII stablecoins against collateralized assets in the Bitcoin ecosystem. BitStable has a dual-token system and a cross-chain compatible structure. Its tokens are $DAII and $BSSB.
$DAII is a stablecoin (BRC 20) whose value and stability are derived from the robustness of collateralized assets in the Bitcoin ecosystem, including BRC 20, RSK, and the Lightning Network. Minted DAIIs can be bridged to Ethereum as ERC 20 tokens, swapped one-to-one with stablecoins such as USDT or USDC, and then cross-chained to the Bitcoin chain to participate in economic activities. The total supply of $DAII is 1 billion.
$BSSB is the platform’s governance token, used by the community to maintain the system and manage $DAII. BitStable also incentivizes $BSSB holders through dividends and other measures.
Project website: https://bitstable.finance/
Bitcoin Cross-Chain Bridge: MultiBit (mubi)
The Multibit protocol aims to unify liquidity between the Bitcoin network and Ethereum Virtual Machine (EVM) networks. Its core product is the Multibit bridge, a secure and efficient solution for seamlessly transferring tokens between the ETH chain, BNB chain, and BTC network.
This innovative bridging mechanism not only enhances the liquidity of BRC-20 tokens but also promotes the growth and development of the entire Bitcoin ecosystem.
Multibit has also launched a staking system that allows users to stake MUBI tokens and earn rewards in the form of ERC-20 or BRC-20 tokens on the Mutibit platform. Currently, users can earn NHUB and BSSB tokens by staking.
Cross-chain bridges are in high demand in the DeFi field. Based on trading volume and popularity, Multibit is likely to be listed on OKX/Binance next!
Project website: https://multibit.exchange/
Bitcoin Ecosystem Cross-Chain + Lending Protocol: bitdova (DOVA)
The Dova protocol is a leading lending protocol on the Bitcoin chain, aiming to strengthen the liquidity connection between the Bitcoin chain and EVM chains. The protocol introduces DeFi applications to the BTC ecosystem, which will be a revolutionary and creative protocol.
The main features of the Dova protocol are:
- Through strategic cooperation with Multibit, Dova utilizes the Multibit cross-chain bridge to achieve seamless connectivity between the Bitcoin network and EVM networks. Users can easily and freely transfer BRC20 assets between the two public chains.
- Users can use the Dova protocol to borrow cryptocurrencies by mortgaging BRC20 assets, and the protocol provides algorithmic and transparent lending services.
- Dova allows users to stake the protocol by providing liquidity and other means, earning platform tokens and a share of the lending interest, and earning BRC-30s token rewards. This incentive mechanism can attract more users to provide liquidity and value to the ecosystem.
Project website: https://www.bitdova.com/
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