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[00:00:00] What is up you beautiful people. Welcome back to the Built On Bitcoin podcast where we talk about all the innovation happening across the Bitcoin ecosystem. This is the place where I talk to the founders and builders. All the different layers that are trying to expand, use, use cases for Bitcoin. So here I treat Bitcoin main chain, obviously, but also lightning stacks, R S K, liquid ordinals, and anything else I find as first class citizens if they're trying to work towards that Bitcoin utility.
So I'm your humble host. Jacob Brown, but you'll see me around as Jake Blockchain, and this is a, this week in Bitcoin episode where I cover everything I've found in the past week that is newsworthy and there's quite a bit. So without further ado, let's just jump right in. Let me bust out my list and let's dive in.
I got five categories [00:01:00] this week, Bitcoin, ordinals, lightning stacks, and rsk, and we'll jump off with Bitcoin main chain. , if you're new here, I don't talk about price. There's a ton going on in that department. I'll save that for the other people. But for the tech side, uh, on Bitcoin main chain, this one is kind of a gray area, but I'm adding it here.
Interlay is, uh, they're building a decentralized bridge. , they have a V1 product that's been out for well over a year and starting tomorrow, they're launching their V2 product, which is building on top of that bridge and building products on top of that. To use your bridged in b t C to do things like swaps, lending and borrowing.
Uh, it should come over time, but this is the first big step in their their V2 launch. The founder, Alex Zin. Is coming on the podcast. The episode releases [00:02:00] this Friday. Highly recommend a lot of people who I trust say that the way they're building this product and their research researchers at heart, uh, really, really well done product when it comes to trying to build this hard thing, which is decentralized bridges that safely keep your, uh, B t c where it should be.
So that's cool. Props to them for launching that. Next up, and this is the second piece. There's only two pieces in the Bitcoin section this week, but block that Less illustrious company backed by Jack Dorsey and Square Cash app, all that. They're hardware wallets. They've been building one for a while.
They're also designing an ASIC miner, but details are mum on that so far. , but they've been building an open source hardware wallet in the background and as of today, we now know the name, which is called Bit Key. So they released a short blog post on some of the thinking going into the name. I'll [00:03:00] drop it in the newsletter, which is also tagged as the first link and the description below.
Alright, moving on. Biggest area this week by far, and really for the past. Ordinals for sure. Gotta talk about it. So first, some interesting stats. Ordinals has been live for a little over 50 days now, and we've already crossed over half a million inscriptions since that time, which is pretty freaking crazy.
So expect that to launch and just go up quicker and quicker unless freeze. Go nuts. Uh, next. Last week we saw the Yuga 12 fold collection, which Evan was watching that auction to see just how much hype there was in Bitcoin following that D gods had there. Mint as well. So there was like a 500 piece collection of burned D gods.
This is originally in [00:04:00] Solana collection, I believe. Maybe it's on eighth. I don't follow that stuff that well. Uh, but these were previously burned NFTs. They were bought back by the provider. They brought them over to B T C as als, and they did the mint for 0.33. Bitcoin, um, sold out in one. , which is already crazy.
And now they already have been having some huge sales. They had a resell of three. Bitcoin was one of the largest ones. And as we'll talk about in these next couple two, uh, marketplaces are coming online that are fully trustless and we're seeing massive volume already, including degos. So shout talk to them.
Uh, really driving a lot of attention to ordinals. So super, super. All right, next up before we get into the marketplace, craziness, uh, cycle, which is a web three decentralized blocking platform. They started on stacks since then, they moved to Polygon, [00:05:00] and now they have support for Oros coming. So if you haven't used it, it's a super clean interface.
It feels just like writing on something like Medium. and when you use it now you can inscribe your blog post onto Bitcoin from their platform, super easy so that that piece of writing is forever inscribed and stored on nodes. So no take away from you. So super cool. I'm really interested in this for when it comes to news, especially cuz just like the Genesis block where it talks about the chancellor or something, something banks on the brink of failure.
It's easy to have revisionist history when it comes to news. So to have this time and place timestamped on this ledger that no one can f with, uh, I think it's gonna become more and more useful as time goes on. All right, so shout out to Cycle and that team, they've been building some cool stuff now.
Jumping into [00:06:00] marketplaces. Up until this week, there's been some ways to trade Ordinals. A lot of them are happening O T C, so people would spend money, send ordinal. Someone in the middle was a trusted third party. There was a few services. Ordinals Wallet was one. , they've actually had quite a few transactions, like volume wise, number and volume.
They've been doing pretty well, but I've heard that the way they store their private keys, not the safest, so people using it because it's pretty good user experience. The marketplace looks good, but wasn't fully trustless as far as I know. Also, there's one called Open Orex, which was, is based on Noster.
Super interesting as far as tech. It doesn't look good and I don't use Nostra, so I'm not gonna use that either. Uh, but yesterday and today we got two big marketplace launches, one with [00:07:00] Gamma and two badge Aiden, so quickly, I'll just go over them. Gamma has been a stacked N F T marketplace up to this point.
They've been building for like 18 months now. When Oros popped off, they quickly jumped on and had one of the easiest inscribing services out there. And now as of two days ago, they were the first. Fully trustless marketplace that's been audited. So super, super nice. I was able to list some of my mega punks on there.
Listing is free. It's just signing a transaction. If you wanna pull it off the marketplace, you've gotta spend a little bit of BTC to destroy that partially signed Bitcoin transaction. This is part of what makes it fully trustless. Uh, but yeah, fantastic experience. It's, it's amazing to think about what we were using before that.
Um, and then Magic Eden, the day later also drops. Uh, same trustless [00:08:00] experience, uh, ton of volume, obviously. Magic Eden, I think is the number two marketplace behind Op Opens Sea. Pardon me. So this is huge. Uh, we've already seen, you can watch the analytics on Dune. There's a, a data wizard named Domo data.
Twitter who is tracking all the ordinance, marketplaces and just in the past 24 hours already, magic Eden is number one in volume and they're quickly becoming number one in transactions help. So I'm really curious to see how these two play out. Cause I do think that it's pretty clear at this point the number one and number two are Magic Eden and Gamma as far as the how the platform.
Functions, it's trustless nature and the tooling they have for craters to build out ordinances. So I think this is the race now you have two horses in it, [00:09:00] and Magic Eden has tremendous, uh, market share already and a marketing and power and brand name. But Gamma as of currently has the better tooling when it comes to greater royalties.
Launching services with descriptions. Watch this space, uh, week by week I'll be doing updates on these two. But, uh, very, very cool and shout out to demo data for so quickly adapting his analytics page to these new marketplaces. Cause it's making it way easy to track this stuff and report on it.
All right, next up, jumping into Stacks Land, couple big updates. First, hero Systems launch something big. Something they call Hero platform. So if we don't know, hero Systems is a developer tooling company, so they make it easier for devs to do their job by offering infrastructure, APIs, things like. [00:10:00] With this hero platform, you can spin up, uh, stacks Smart Contracts, which are written in a language called Clarity, all in one location.
So they can give you, uh, templates, some boiler plate code. You can create, test and deploy all one platform. And as far as I know, uh, it's stacks right now, but they're looking at things like Lightning and Bitcoin, main train support, all in this one platform. If you go to Hero, it's h i r o.so/ 3 21. Uh, you can check it out.
All right, and last in Stacks Land Defi Project, Alex, which stands for Automated Liquidity Exchange. Uh, they've been working on a trustless bridge between stacks and Ethereum for quite some time now, and they just announced today the white list. for their incentivized test net. So if you use their test net and help them test [00:11:00] things, break things so they can fix them, uh, you have some financial upside in in this behavior.
So, Super, super bullish on this. One of the biggest problems on Stacks to date is that there's tons of applications to use, but you have to use the Stack token. You could go into X B T C, which is a centralized, wrapped, blah, blah, blah, but liquidity into stacks mostly flows through the Stack Token, which is just not ideal at all.
It's a bummer. So now with this bridge, you can bridge in U S D C. From E to stacks, and then obviously with s BTC coming, uh, you can peg in native Bitcoin into S btc. So very, very interested in watching how the ecosystem develops as it's easier to get liquidity into the ecosystem. So props to Chante and the whole Alex.
All right. Moving on to Lightning, which it still is weird to [00:12:00] me that this is not the biggest section week after week, cuz up until about a month and a half ago, it was every single week, but it's been quieter. Couple of things though, first Uie and Eric Walls tap Root Wizards, which were kind of the first name brand project that went crazy on Ord.
They launched something called the Tap Root Wizard School. So this is a way for people to learn about BTC by finishing Quest. And one of the first quests was actually using lightning. So creating a wallet, bringing in some btc, and then sending it somewhere. And one of the tasks was to send it to the Human Rights Foundation, send them a little bit of of lightning BTC to support and don.
and through that, within a few days, they raised $20,000 for the Human Rights Foundation. Ju courtesy, uh, [00:13:00] yeah, really, really like what they're doing over there. They're, they're making Bitcoin fun to use. And also you can learn, which something I've learned recently is I, I talk a lot about things like RSK and stacks, but I haven't used all of them.
You know, I still haven. Put any BTC into liquid. So it's easy to talk a big game, but unless you've used a side chain, uh, you don't know what it's like. And most people are like that with Lightning. They have an opinion on lightning. They haven't tried lightning. So I really like what they're doing with that.
Uh, last up for Lightning Wolf is a lightning focused accelerator based out of new. And they just announced their first cohort of eight teams they're investing in and accelerating. So I'll drop the list below. It's the link is in the newsletter, and you can see the eight teams they're invest investing in and what they're building.
All right, last. , [00:14:00] but certainly not least rootstock. So couple updates for Rootstock. First last week's update, we saw that the Sovereign 2.0 rebrand went live. Their new platform looks fantastic. I was able to actually put in some B TC into R B T C and then move that onto the platform. It's, it's nice to use.
It's pretty cool. And uh, with. came the sovereign dollar. So this is a new stablecoin, Bitcoin backed stablecoin, and it's over collateralized. So the hope here is that through the construction of the protocol and the incentive structure, you get a stablecoin that's actually stable. Uh, so it's, the sign is dollar sign, D l l R.
Uh, so yeah, I'm gonna watch this over time. Should be really, really cool. Just like on stacks. I like U S D A from Arco, but [00:15:00] it's hard at first to convert into a stablecoin and know what to do with it. So you like take a loan out, I'm holding this dollar, which is worth a dollar, but now what I do with it, I gotta convert it into something else.
There's a lot of friction there, so, I wanna see how this evolves, if, you know, like U S D C and U S D A T are available everywhere, so it's super easy, highly liquid. Uh, very curious how this evolves because, uh, it is on rootstock, which is a smaller ish chain. So, uh, yeah, keep an eye out. But if you're curious, also, you can get a zero interest loan with your Bitcoin and get that $2.
Check it out. And then last but not least, for this update, uh, r B tc, which is the PEDEN token that you get when you peg in BTC to rootstock, R b, TC and RIF F are now listed on finance change, which is a [00:16:00] cross-train aggregate aggregator, uh, to his swap tokens. Overall, what I see is that Bitcoin layers are getting more and more adoption.
So fantastic to see. And uh, yeah, that's all the things I saw this week. Hopefully I didn't take up too much of your time, and until next week, I love y'all. Peace.
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