Yesterday might be a good day for cats to come out and bask in the sun, at least, in the Bitcoin ecosystem. In one day, we saw three Bitcoin FT protocols driven by OP_CAT - CAT20 on Fractal, CATNIP of the "Quantum Cat" team, and "Danny CAT20" of the "Moto series".
OP_CAT protocol:
1. CAT20 on Fractal has been launched and is in full swing. The price of $FB has exceeded 30 US dollars, and the miner fee on the Fractal chain has been as high as 2000 sats/vb.
2. CATNIP udiWertheimer of the Quantum Cat team is only officially announced, and the implementation will have to wait until the OP_CAT of the Bitcoin mainnet is resurrected
3. Danny CAT20 of the Moto series was proposed by bc1plainview, the founder of Motoswap and OP_NET. He said 2 hours after CAT20 came out that he was the first to propose the idea of using OP_CAT to drive the Bitcoin FT protocol.
The first people who played CAT20 used less than 10 gas. The day before yesterday at noon, it was 300 gas, yesterday it was 2000 gas, and today it is 5000 gas. So roughly speaking, the market value is close to 10 million dollars.
Is it possible to continue to rise? It is not ruled out. After all, the logic of small-cap stocks pulling up large-cap stocks, at least CAT20 has a significant consumption effect on $FB. After the early low-cost people spend some money to pull up the market and form the secondary market fomo, the motivation is also strong.
Why does CAT cause such FOMO among players, and is it worth participating?
CAT20 technical advantages and discussion based on OP_CAT
CAT20 tokens are more secure than brc20 because brc20 data requires a centralized index to store and run, but cat20 only needs to use an indexer to find utxos in the stack data. The data is run on the chain and verified by miners.
cat20 allows tokens with the same name to appear. This is different from brc20 and runes. The identification of cat20 tokens is similar to that of ERC20 tokens. We can only determine which token you need by the contract address. Because each cat20 is created based on the tokens created by each different hash value in the stack in op_cat, the token contract is also different.
Cat20 can realize that dex can run on the chain, which is fully decentralized, but brc20 cannot because the data is implemented by centralized index, so dxe cannot achieve complete decentralization
Cat20 can add many restrictions when implementing DeFi. If a project restricts each address to only play 10u or hold specific assets to participate in the ido, this kind of gameplay will be very diverse, because everyone knows that the BTC chain has no state mode, because BTC is in script mode, so there is no way to read the type of each transaction, that is, you can't identify whether it is a transfer or a transaction. There is no way to implement restrictions in this way. However, op_cat can verify the type of each BTC transaction and then impose more restrictions, that is, to implement more smart contracts.
In the future, cat20 may realize the dream of issuing stablecoins, because the contract scenario is much better than the BTC main chain, and the ecosystem will be more active with stablecoins.
cat20 is likely to become the most powerful protocol in the field of sub-types, because it has unique innovations in the technical paradigm. Then it got the name cat from the sub-type op_cat, just like ordi from brc20 got the name ordinarys.
UniSat Support, Who is Behind CAT 20?
The CAT Protocol team is still in a “mysterious” state. The official X account only released one tweet and then there was no further news, like a stone thrown into the market, which sank to the bottom after making a splash.
If only because the design of CAT 20 tokens is perfected, it will not cause large-scale FOMO. After all, not everyone has the time and interest to read documents. The real reason for causing large-scale FOMO and pulling the minting Gas to more than 1500 is that UniSat updated the Fractal browser last night and added the CAT 20 page.
This silent update was interpreted by the community as "premeditated", and UniSat was suspected to be the support team behind CAT 20. However, in the Twitter space "Ord My God" held by the community last night, Vivian, a member of the Unisat and Fractal team, was quite implicit and conservative in answering this question, and did not clearly explain the relationship with CAT 20. "All projects built on Fractal are officially willing to support, and this update can be regarded as more of a test."
At the same time, some community members speculated that the team behind CAT Protocol is the sCrypt Official team, which has been working in the OP_CAT field for a long time. The reason is that their technical understanding of OP_CAT is enough to propose such a complete token protocol, and the style and fonts in the official documents of CAT Protocol are consistent with the habits of sCrypt Official.
On the left is the CAT Protocol official document, on the right is the sCrypt Official tweet
If the speculation is correct, the sCrypt Official team has previously received 10,000 FB from the Fractal ecosystem Season 0, proving that the two parties have already cooperated, so it is not surprising that UniSat supports CAT 20 this time.
In addition to CAT Protocol's CAT 20, there are two other CAT protocols in the Bitcoin ecosystem. One is Danny, the founder of opnet, who claims to have invented CAT 20 in August and will activate it after block 21,000 on the Fractal mainnet; the other is Udi Wertheimer, co-founder of Taproot Wizards and Quantum Cat, who will also release a token protocol CATNIP based on OP_CAT, but it only supports the Bitcoin mainnet.
It seems that the token protocol driven by OP_CAT has formed a "three-kingdoms competition" situation. At present, the CAT Protocol supported by UniSat has the advantage. The CAT Protocol can run on any UTXO chain that activates OP_CAT, which means that in the future, when the Bitcoin mainnet supports OP_CAT, it can also be migrated to the mainnet.
Summarize:
CAT20 undoubtedly makes me excited. For Fractal, the emergence of CAT20 is an excellent interpretation of its "experimental field" positioning, and it also makes me have more expectations for the future development of Fractal.
This is very good news for every one of us who are into cryptocurrencies. And it seems that more and more projects are going to issue tokens recently, and the harvest season for us cryptocurrencies is really coming soon.
Here are some websites I used and some points to note:
Check GAS fee: https://mempool.fractalbitcoin.io/zh/
Cat20 development progress: https://explorer.unisat.io/fractal-mainnet/cat20
$FB Purchase: https://www.dotswap.app/v1/swap#F_BTC_FB
- Cat20 uses $FB as GAS, so you need to have $FB in your wallet. If you have played the inscription before, you can check if there is any airdropped $FB in your wallet. If you exchange it in DOTSWAP, remember to connect the Unisat wallet, don't use the OKX wallet.
- The BTC pledged to DOTSWAP needs two block confirmations, which takes about 20 minutes. Just wait patiently. After staking $FB, remember to withdraw it to the Unisat wallet. The transfer is very fast, within a dozen seconds.
- The slowest part of this process is synchronizing blocks on the server, which is estimated to take several hours.
- Finally, you can participate according to the gas fee.
If you still have any questions and want to ask me, please add me on V:xy368975
There are still many projects with zero-cost airdrops. Seize the opportunity. If you don’t know how to do it, you can scan the QR code below to add me.
