The most eye-catching event in recent days is inevitably a wave of strong price increases in BRC20 ecological tokens. With the launch of Bitcoin inscription Sats on Binance on December 12, the market value doubled on the same day, and the coin price rose by more than 330% in seven days. In addition to Sats, inscription ecological tokens such as Rats, SNHT, MAXI and BEAR have all ushered in a wave of increases. Many people believe that this is the second spring of BRC20, especially ORDI, which broke through the $1 billion market value threshold in the first week of December, achieving an important milestone and providing its holders with an impressive monthly return of 850%. At the same time, the cumulative fee income of Ordinals inscriptions has exceeded $140 million.
With the hot momentum of Bitcoin on-chain tokens, Orders.Exchange, the first decentralized exchange on the Bitcoin chain, will start a free airdrop event on Gate.io Startup on December 20. With the foreshadowing of this wave of token gains, this timing is undoubtedly very favorable. Today, let's learn about Orders.Exchange, whether RDEX tokens have specific investment potential, and how to participate in the free airdrop event.
What is Orders.Exchange?
Orders.Exchange is a new force in the Bitcoin ecosystem. Orders is the first DEX that runs entirely on the Bitcoin network, and its order book runs entirely on the Bitcoin network. Orders aims to witness a trustless ORDERBOOK DEX, liquidity pool, SWAP DEX and LaunchPad, which fully utilizes the potential of Bitcoin Layer 1 and is powered by the Ordinal Protocol, PSBT technology, Bitcoin Script and the revolutionary Nostr protocol combination.
Orders not only has an on-chain order book trading system, but also creates an efficient liquidity pool. The application of PSBT technology improves transaction efficiency and security, enables Orders to conduct complex transactions, and opens up imagination space for a more interconnected and efficient Bitcoin DeFi ecosystem.
The highlights of Orders are as follows:
Orders cleverly learned from blur’s NFT gameplay and presented an on-chain DEX system for the currently complex and difficult-to-trade BRC20 tokens;
Orders combines liquidity mining, order books, and ask and bid mechanisms, interconnecting the internal structures of DEX platforms to create a three-dimensional platform.
In the interconnected structure of the Bitcoin ecosystem and the Orders ecosystem, the project token RDEX token has practical application value, and currently the simplest trading pair also has relatively good liquidity;
Orders has a simple and friendly user interface, which is very similar to the gameplay of Blur. It is easy to use for both new users and players familiar with Blur.
The development team behind Orders is composed of international members with rich Bitcoin development experience. They have experienced the Ethereum-based DeFi era and witnessed the rise of many excellent projects. They are said to be early contributors from the MVC blockchain and have been deeply involved in the Bitcoin sidechain. Orders' PSBT liquidity pool design, MVC and Nostr protocol compatibility, etc., all reflect the strong technical strength of its team.
Currently, Orders has landed in the first liquidity pool. With the vigorous development of the Bitcoin chain ecosystem, it has practical landing scenarios and usage needs. Other infrastructures are also being gradually completed. Let's take a look at Orders' next plan: 2023Q4:
NOSTR protocol released (released)
Launch of RDEX token on CEX
Support more wallets and adapt to more wallets to meet the diverse needs of more users;
2024Q1：
Launching LaunchPad and Inscribe features to expand the user base of orders, meet the needs of more users, and expand the use of RDEX tokens as the first utility BRC20 token;
Support buy and sell orders for Ordinals NFTs, and support NFT transactions of ASK and BID order types, enhance platform capabilities, meet the transaction needs of different users, and improve transaction efficiency;
Full support for MVC-Ordinals, providing full support for the MVC-ORD initiative, aimed at exploring new possibilities in the BTC-Fi environment. This phase aims to strengthen Orders as a versatile platform for centralized financial activities, mainly focusing on the Bitcoin ecosystem. In addition, this phase aims to solve the main pain points of high fees and low transaction speeds on the Bitcoin mainnet;
Launching a cross-chain bridge for seamless exchange of Ordinals assets between Bitcoin’s mainnet and its second layer MVC;
2024 Follow-up: Expand partnerships and build an interconnected DEX network. Leverage the Nostr protocol to expand partnerships and seek collaboration with well-known DEXs such as OKX and Unisat, aiming to achieve interoperability. By integrating with the Nostr protocol, users' BRC20 tokens and Ordinals NFT orders can circulate between different DEXs. This allows orders created on a single platform to be executed on other exchanges, improving trading efficiency.
Sam, product manager of Orders, said in an interview, "We serve our users from three main aspects: improving transaction efficiency, focusing on user costs, and increasing the use of tokens. In addition, we are also focusing on how to solve the problems of high transaction costs and slow speeds through the second-layer solution. We hope that our tokens are not just a medium of exchange, but have a wider range of uses, such as paying handling fees, serving as a threshold for launching a platform, and providing holding discounts. "Orders plans to support more functions in the future, such as adding support for other protocols, adding engraving functions, etc., so as to create a more complete and comprehensive ecosystem.
Token Economics
RDEX tokens are the platform tokens of Orders. Their main purpose is to reward early users of Orders and motivate users who provide liquidity. RDEX tokens have no initial issuance or private placement, and are all created for free in the early stage. Currently, they can be purchased directly in Orders, Unisat, and OKX wallets.
Total supply: 100,000,000 (one hundred million) pieces, format: BRC-20
The distribution is as follows:
45%: Liquidity rewards
40%: Rewarded to early users through various airdrop activities
10%: Team and early contributors
4% CEX and Order Liquidity
1% Initial RDEX Liquidity Pool
Relevant economic scenarios of RDEX tokens:
The transaction fees generated by the BID order will be used to buy back the RDEX tokens listed on the order. They will be exchanged and burned at a frequency of once every 48 blocks.
RDEX tokens may be used to pay platform service fees (in progress)
RDEX tokens can be used as a barrier to entry to LaunchPad (working in progress)
Holding RDEX tokens may provide fee discounts (working on it)
62,500 RDEX tokens per day as liquidity pool rewards
From the perspective of its economic model, the acquisition of RDEX tokens is mainly divided into two parts: early participation rewards and liquidity participation rewards. Because the early participation rewards have ended, in order to obtain more RDEX tokens, users can actively participate in the liquidity pool to obtain rewards.
Orders PSBT liquidity pool is the first liquidity pool solution based on the Bitcoin native network independently developed by Orders, which has the characteristics of risk-free, decentralized, and completely based on the BTC main network. Before being used, the liquidity added by the user will always remain in the user's wallet, and the user retains absolute control over it; after being used, it will be transferred to the multi-signature address jointly managed by the user and the exchange, and released by the user.
Orders will use every 144 blocks as the statistical interval. The total value of the liquidity used in the interval will be divided by the total value of the liquidity of a single user to get the liquidity ratio that the user has used, and RDEX tokens will be issued as rewards. RDEX tokens will be released linearly every day for rewards. It is worth reminding that you can earn RDEX tokens after adding liquidity to Orders and releasing liquidity, but if you do not claim it for more than 3 days, the reward will be reduced every day starting from the fourth day until it reaches zero.
Orders will use the BID single transaction fee (except RDEX tokens) generated by the previous day's BRC20 token transaction pair to repurchase and destroy the RDEX tokens listed for sale on Orders to achieve a deflation model. At the same time, in order to keep the Orders Pool in a healthy state for a long time, the RDEX tokens in the Orders Pool reward part will be unlocked in a linear release mode. RDEX token release plan:
Initial liquidity pool quantity: 1,000,000
RDEX token liquidity reward quantity: 45,000,000
Number of linear release months: 24
Monthly release volume: 1,875,000
Daily release: 62,500
Air Investment News
Opening time: Beijing time 16:00 on December 20, 2023 - 16:00 on December 21, 2023 (UTC+8) (valid orders within 24 hours will be treated equally)
Trading starts: 20:00, December 21, 2023 (UTC+8)
The trading pair opened this time is: RDEX/USDT
Subscription price: 0 USDT (free)
Total subscription amount: 193,548.387 RDEX
Unlock method: 100% unlock
Participation conditions: Each real-name user can only subscribe once.
Conclusion
From an objective perspective, Orders has attracted attention as the first DEX built for Bitcoin. After nearly a month of waiting, the project's beta version has been successfully converted to the official version, and the execution and completion of the Roadmap have been basically implemented. The biggest highlight of the project is its practicality. Not only is it a DEX with strong rigid demand, but its token RDEX also has use scenario value and is of practical significance.
The free IEO airdrop event in cooperation with Gate is not to be missed. After obtaining the tokens, whether it is possible to rise again according to the general background of the BRC20 market, or to participate in its liquidity and continue to earn token rewards, both are good choices at the moment. The risk point of this project may still be the token distribution, and there is a risk of a market crash in the future, so everyone needs to make investment choices carefully.
Related address: https://app.trendx.tech/projects/2ab96b9fe98ac1bb44c7ecf1725728d04e43c42d3f3389033ed39559d9a6129f
Official website address: https://www.orders.exchange/
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