🌟 Exploring OrdinalsBot: Innovating with Bitcoin's Ordinals Protocol 🌟
🚀 Let's dive into key features and potential of #TRIO in this captivating thread! 🧵👇
1️⃣ Introduction and Overview: OrdinalsBot, launched in February 2023, simplifies the inscription minting process for collectors and artists, offering accessible tools for token creation and digital collectibles. It focuses on the Ordinals protocol to put NFT-like media assets on-chain, supporting BRC-20 tokens, parent-child inscription hierarchies, and on-chain blogging via Scribe.
2️⃣ Technology and Feature: Utilizing the Ordinals protocol, OrdinalsBot supports BRC-20 tokens (fungible tokens on Bitcoin), parent-child inscription hierarchies, and analytics and management through its API. It enables on-chain blogging and text uploads to the Bitcoin network via Scribe, offering creators and developers unparalleled utility and infrastructure.
3️⃣ Whitepaper Analysis: OrdinalsBot is open-source on GitHub, featuring a Bitcoin Improvement Proposal (BIP) describing the ordinal scheme. It includes an index interacting with a Bitcoin Core node to track all satoshis, a wallet for making ordinal-aware transactions, and a block explorer for interactive blockchain exploration.
4️⃣ Use Case: TRIO token is the utility token of the OrdinalsBot ecosystem, designed to align incentives, streamline fees, and reward collectors. It offers fee discounts, governance participation, action-based earning, and hodling rewards. Additionally, the platform enables on-chain blogging and text uploads to the Bitcoin network via Scribe.
5️⃣ Team and Leadership: Co-founded by Toby Lewis, OrdinalsBot boasts a dedicated team recognized for its commitment to providing state-of-the-art inscription services and developer tools. They have achieved notable growth and have been recognized by clients and industry experts for their efforts.
6️⃣ Partnerships: Partnering with Marathon Digital Holdings, OrdinalsBot mints the full supply of a BRC-20 token in a single Bitcoin transaction, accelerating its growth trajectory. It has secured partnerships with venture capital firms like DACM, signaling confidence in its potential.
7️⃣ Security and Audits: The Ordinals protocol operates independently, ensuring security without modifying Bitcoin. While specific audit details are unavailable, the platform emphasizes rigorous risk assessment and control implementation to mitigate risks.
8️⃣ Tokenomics: TRIO token has a fixed supply of 21 million tokens, allocated to the community, team, advisors, investors, and treasury. With a focus on fair distribution and long-term sustainability, the tokenomics aim to incentivize participation and support growth.
9️⃣ Exchanges: TRIO tokens are available on Gate.io & MEXC, providing liquidity and accessibility to traders. These popular exchanges facilitates trading activities, contributing to the token's market activity and adoption.
🔟 Recent Developments: OrdinalsBot recently surpassed its funding goal with a $3 million seed round led by DACM. The funding will be used to expand its infrastructure, including hiring and launching an Ordinals inscription marketplace. Additionally, the platform minted the full supply of a BRC-20 token in a single Bitcoin transaction via Slipstream, showcasing its efficiency and innovation.
1️⃣1️⃣ Conclusion: OrdinalsBot is a promising project leveraging Bitcoin's Ordinals protocol to bring NFT-like functionalities to the Bitcoin ecosystem. With recent funding and partnerships, the platform is poised for significant growth and development.
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