According to TechFlow, on September 11, Udi Wertheimer, co-founder of Taproot Wizards, announced CATNIP, a Bitcoin native token protocol based on the OP_CAT recursive contract. The protocol aims to solve the user experience problems caused by the lack of Bitcoin consensus layer support in existing solutions such as BRC-20 and Runes. CATNIP will realize partial order execution, flexible bidding mechanism, and on-chain L1 automated market maker (AMM) and liquidity pool.
Wertheimer pointed out that while L1 AMMs may be limited by the characteristics of the Bitcoin network, CATNIP supports efficient off-chain AMMs through CatVM. The protocol is currently in development and is planned to be launched simultaneously with OP_CAT activation on the Bitcoin mainnet. CATNIP is expected to play an important role in the stablecoin field while providing new possibilities for decentralized finance (DeFi) applications. CATNIP has not yet issued tokens.