In response to the issues of slow transaction speeds and high costs on the Bitcoin mainnet, Fomowell is built on ckBTC technology, utilizing natively supported UTXO queries and threshold signature (ckECDSA) mechanisms to achieve a high-speed trading experience without bridging or trusting third-party custody.
ckBTC enables second-level transfers while maintaining a 1:1 peg with the mainnet BTC. The platform uses a single Canister architecture to avoid contract delays and atomicity issues, ensuring asset and security for high-concurrency transaction execution, opening a new era of on-chain DeFi for Bitcoin assets.
Why not run directly on the Bitcoin mainnet?
Slow transaction speed (confirmation takes over 10 minutes)
High transaction fees
Inefficient support for issuance, circulation, and interactive advanced financial applications
Fomowell's solution
Use ckBTC to reconstruct Bitcoin asset circulation
Fomowell leverages ICP's native integration with the Bitcoin network to build a new paradigm for circulating Bitcoin assets
Core component: ckBTC technology
ckBTC is a mapped asset generated through ckECDSA and Bitcoin vault contracts
All transfers and transactions are completed on ICP, with second-level confirmation, exhausting cross-chain bridges
All assets can interoperate with the BTC network at any time
Smart contracts can freely use ckBTC to implement complex financial logic (e.g., AMM, issuance, airdrops, etc.)
Source of security
Chain key ECDSA (ckECDSA) threshold signature, resistant to interruption and hijacking
100% asset reserves, verifiable on-chain to ensure a 1:1 peg with real BTC
No centralized bridging, no third-party trust assumptions
Introduces KYT (transaction review mechanism) to prevent money laundering, fraud, and other illegal fund inflows, ensuring the cleanliness and compliance of on-chain assets
Platform code is open source, ensuring transparency, security, and verifiability
Contract audit guarantees, running the entire process on-chain, contracts have been audited to ensure sufficient security
Fomowell platform architecture and functional highlights
Single Canister architecture, ultra-fast interaction
All logic encapsulated in a single Canister, avoiding delays between contracts
Achieves second-level transaction confirmation (about 1 second), stable handling of high concurrency
SNS DAO governance, unchangeable contracts
All core contracts will be mounted to SNS (decentralized DAO system)
Platform parameter adjustments, upgrades, and fund usage require community voting
ckBTC as a circulating asset engine
All user transactions, minting, and liquidity provision use ckBTC
Issue your Runes: Complete analysis of the two-stage issuance mechanism
Fomowell provides an on-chain, decentralized two-stage issuance mechanism, allowing anyone to issue their own Bitcoin assets at a very low cost.
Phase one: Fair launch
Uses exponential pricing curve y = e^x, with prices driven entirely by the community, publicly and transparently
All users can freely participate, with no pre-sale, whitelist, or private placement
Reaching the launch threshold (0.211 BTC) is considered successful and enters phase two
Developer purchase mechanism (Dev Buy): When the issuer creates an asset, they can set the token purchase share, and the system will automatically buy the corresponding amount at launch.
Phase two: BTC mainnet deployment + automatic liquidity injection + DEX trading
The system will automatically deploy Rune assets to the Bitcoin mainnet, becoming native on-chain assets
Simultaneously inject 0.2 BTC and equivalent Rune into the AMM liquidity pool (operating on ICP), opening up the secondary market
AMM uses the k = x*y model to ensure a fair and stable trading experience, supporting second-level settlement and high-concurrency transactions
The entire process is automatically executed and verifiable on-chain, creating a trustworthy, transparent, and low-threshold channel for Bitcoin asset issuance.
Summary of core advantages
Lightning-fast experience: All transactions are completed on ICP, with an average confirmation time of about 1 second;
Native security: Mapped through ckBTC, no bridging and centralized custody;
Fully DAO governance: Core logic controlled by SNS, transparent and auditable;
Native assetization: All assets will ultimately be deployed to the BTC mainnet;
Referral mechanism: Level 1 rebate 30%, level 2 5%, withdrawable at any time;
Low creation threshold: Approximately 3,333 sat to issue new tokens.
Invitation reward mechanism
Level 1 referrers can earn 30% of the invited person's transaction fees;
Level 2 referrers can earn 5% of the invited person's transaction fees;
All rewards are automatically distributed on-chain, and withdrawals can be made once reaching 10,000 sat.
Fomowell has designed a simple and transparent two-tier invitation reward system to reward early supporters. Invitation links can be generated, managed, and withdrawn in the personal account area.
Frequently asked questions
Is the asset on Fomowell secure?
Very secure, transactions are executed on ICP, asset settlement is anchored to the BTC mainnet, and all core contracts of Fomowell will be launched on SNS, fully decentralized and tamper-proof by developers.
Why do I need to recharge BTC first?
Fomowell uses ckBTC technology, users must deposit BTC into the ckBTC system to obtain on-chain equivalent assets to perform minting, trading, etc. This process requires no bridging and is fully transparent on-chain.
How long after the recharge can I receive ckBTC?
Typically, ckBTC will reach your wallet after 2~3 Bitcoin blocks (20~30 minutes) with automatic deployment and no manual intervention.
Is ckBTC stable? Will it decouple?
ckBTC is fully chain-pegged to Bitcoin, and reserves can be verified on the blockchain at any time, with no room for manual operation and without relying on centralized custody.
Will the assets I issue be automatically deployed to the BTC mainnet?
Yes, once the issuance is successful, the system will automatically deploy the assets to the Bitcoin mainnet, providing real on-chain records and transfer capabilities.
What are the platform fees for FomoWell?
FomoWell charges a 1% platform fee on all internal transactions, and a 0.5% fee for external AMM transactions, of which 0.2% goes to the platform, and 0.3% is distributed as liquidity incentives.
Exclusive invitation link (there will be benefits later):
https://btc.fomowell.com?r=F707BDFB
#FomoWell #BTCFi #Runes符文 #ckBTC
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