According to Odaily Planet Daily, OP_CAT advocate and Taproot Wizards co-founder Udi Wertheimer said that the user experience of BRC-20 and Runes disappointed most crypto enthusiasts, and the Bitcoin consensus did not recognize their existence.
Udi introduced that CATNIP, a new Bitcoin native token protocol based on the OP_CAT recursive contract, can solve the above problems. CATNIP allows the market to place partial orders, and users do not need to split UTXO in advance, but only need to purchase the required number of tokens.
CATNIP also allows bidding, where a user can buy a certain amount of CATNIP at a certain BTC price and then have one or more sellers complete the transaction. The protocol will allow on-chain L1 AMMs and liquidity pools.
Udi believes that L1 AMM will not bring a good experience due to Bitcoin's slow blocks and transaction relay strategy issues, but CATNIP will also allow fast and secure off-chain AMM. CATNIP is under development and testing, and the team will launch the protocol when OP_CAT is launched on the Bitcoin mainnet.