From 'Digital Collectibles' to 'Productive Assets': How Bitlayer is Giving Ordinals a Boost?
When Ordinals and BRC-20 made their debut, the Bitcoin ecosystem instantly felt like it was having a party, but the excitement didn't last long before it hit a snag—these assets were basically part of the 'laid-back' crowd; aside from holding them or transferring peer-to-peer, they had almost no presence in the financial world. To put it bluntly, they were more like decorations locked in a digital vault, lacking the flexibility that capital should have. That's when Bitlayer jumped in, boldly claiming to be the 'financialization plugin' for Bitcoin's native assets, specifically designed to address various inflexibilities.
With the two powerful tools of EVM compatibility and high performance, Bitlayer opened a new world for Ordinals and BRC-20 assets. Developers can create here with remarkable ease:
- NFT Lending Protocol: Do you have rare Ordinals NFTs? Don’t rush to sell; you can pledge them here to borrow BTC or stablecoins, keeping your assets while getting cash in hand. Isn't that impressive?
- Decentralized Exchange (DEX): Set up an efficient AMM model for BRC-20 trading markets; trading SATS and ORDI will be as easy as playing with ERC-20 on Uniswap, so easy!
- Yield Aggregators and Strategy Vaults: Hand over complex financial tactics to the professionals, like providing liquidity for BRC-20 to earn some fees, or putting Ordinals to work in games to earn money, ultimately packaging it into a one-click operation product that even newbies can easily handle.
In short, Bitlayer is building a set of financial 'gym equipment' for the digital assets of the Bitcoin ecosystem, transforming them from lonely 'digital collectibles' into 'productive assets' that can earn money, leverage, and team up to make things happen—finally, living up to the spirit of blockchain innovation!