"📚Sharing of opinions" Today, Rhythm released an interview with the @ProtocolCAT team. I think those who are interested in CAT20 on fractals can take a look. I have summarized the points that I personally pay attention to and share them with you.
1. Basic situation: The team has 5 people. They have been studying how to develop smart contracts for Bitcoin since 2018, mainly on BCH and BSV. In fact, the version has been iterated a lot and migrated to Fractal Bitcoin this year.
2. Team positioning: The team positions CAT20 as an "ownerless" entity and the team is just a contributor.
3. Relationship with Fractal: Similar to the relationship between Ethereum and Celestia, they build an ecosystem on Fractal, but they are not an official team, but an independent team with in-depth cooperation. The team took the initiative to propose to Lorenzo to enable OP_CAT.
4. Current work focus: Focus on improving the protocol-level design rather than developing specific applications such as wallets, browsers, or DEXs. Maintain neutrality, including not doing the Marketplace ourselves.
5. Recommended direction for developers: The first advantage of CAT20 is that it can be seamlessly integrated with other dApps and can be applied to scenarios like uniswap, pumpfun, etc. The second is that the CAT20 protocol is very open, and developers can directly write smart contracts without the need for team approval or changes to the underlying protocol.
6. How to lower the threshold for coin issuance: some documents and transaction content will be released to popularize this protocol, especially the rich gameplay of the protocol, including reservation, fair launch, ICO model, Les Atomicals' POW coin issuance model, and three-party token locking mint model.
7. Will there be financing? We do not plan to make a profit through pre-mining or financing. We hope that after the CAT20 ecosystem grows in the future, we can make a profit through contract development, auditing and other tool services to achieve a virtuous cycle.
8. $CAT token price: The decentralized characteristics of the token are more retained. It does not specifically look for market makers or spend effort to maintain the price of the token. Like Satoshi Nakamoto, the exchange can directly choose to list the token.
9. Opinions on CAT20 and OP_CAT: OP_CAT is the first step for Bitcoin to become a Turing-complete smart contract, a process from 0 to 1. Specifically, after OP_CAT is enabled, it can already do almost all the functions on Ethereum, but it is not the most efficient, and other codes are needed to improve efficiency.
10. The principle of decentralized indexer: a tracker similar to Bitcoin is used, and all transaction issuance and transfers are completed by miners through Coinbase transactions and UTXO verification.
11. CAT721 will be launched soon, realizing all the functions of Ordinals for everyone to experience.
