1. SAT20 Agreement
SAT20 is a "Satoshi Standard" BTC native asset issuance and circulation protocol. Its core feature is that assets are bound to Satoshi and flow freely with Satoshi.
The SAT20 protocol consists of an asset issuance protocol and an asset circulation protocol.
The SAT20 Asset Issuance Protocol (ORDX) is an enhanced version of the Ordinals protocol. The issued assets are called Satoshi assets (SAT20 ASSETS). Assets are bound to Satoshi and have the properties of Satoshi:
Satoshi cannot be destroyed, so assets cannot be destroyed.
The data bound to Satoshi cannot be changed, so the assets cannot be changed after they are issued.
Wherever there are Satoshi, there are assets, and assets flow freely on different networks following Satoshi.
The assets belong to whoever the Satoshi belongs to, and when the Satoshi is transferred, the assets are also transferred.
The heterogeneous nature of Satoshi determines the heterogeneous nature of assets, and assets naturally possess SFT attributes.
Satoshi can be bound to any data, even smart contracts, which means that assets are intelligent in a certain sense.
SAT20 asset circulation protocol (Transcend) defines the circulation rules of Satoshi assets and provides an implementation sample.
Satoshi Locking: Lock and unlock Satoshi through Lightning Network channels, support users to withdraw by themselves, and ensure the safety of user funds.
Cong crossover: The locked Cong will automatically cross over to the second layer network and continue to circulate as Cong in the second layer network. Users can cross Cong back to the main network at any time.
Satoshi switching: the core technology that enables the free flow of Satoshi in the Layer 2 network.
Core Principles:
Safe evacuation: At any time, users can decide to evacuate the Layer 2 network on their own without the permission of others.
Client Verification: For any asset, users can verify whether the asset is bound by the Satoshi number.
Complete asset transfer history.
(II) Eight major narrative topics
1: The first rare Satoshi Meme - SAT20 Satoshi protocol's two-way empowerment
Two-way empowerment of the rare satoshi sector: As a management expert for rare satoshis, the SAT20 satoshi protocol provides powerful two-way empowerment for the rare satoshi sector. It can not only convert satoshis into high-value assets through protocol premiums, but also serve as a future version of the mining pool to create new sources of revenue for miners.
Hiding wealth in Satoshi: The SAT20 protocol realizes the vision of âhiding wealth in Satoshiâ by precisely managing and increasing the value of rare Satoshi, turning rare Satoshi into scarce and valuable assets.
2: The first SFT asset - SAT20 Satoshi protocol leads the future asset standard
SFT that integrates image and currency: SAT20 Satoshi Protocol has launched the first semi-fungible token (SFT) asset based on Bitcoin, which combines the advantages of FT and NFT, and combines the characteristics of inscriptions and runes, creating a new model that unifies the future asset issuance standards.
Taking into account the advantages of both NFT and FT: SFT assets not only have the liquidity of FT, but also have the uniqueness of NFT, realizing an innovative form of image-currency integration, and can occupy a core position in future asset issuance.
3: The most authentic Pizza culture narrative - native assets RarePizza and rare Pizza tokens
Innovation of graphical FT: Through graphical FT, the SAT20 protocol transforms the original Pizza Satoshi and rare Pizza Satoshi into the most authentic and comprehensive Pizza cultural narrative carriers in the entire network, giving the Bitcoin ecosystem a unique cultural connotation.
Continuation of the orthodox Pizza culture: By combining Pizza Satoshi with graphical FT, the SAT20 protocol not only continues the classic culture in Bitcoin history, but also provides a deeper cultural resonance for the Bitcoin community.
4: SAT20 protocol pioneered domain name blogging â leading the Web3 era
Domain name application and copyright monetization: The SAT20 protocol innovatively combines domain names with blogs, opening a new era of domain name application, copyright monetization and knowledge payment, and becoming a bridge for the transition from traditional Internet to Web3.
Opening the curtain of Web3 transformation: Through the SAT20 protocol, the domain name is no longer just an access address, but has become a value carrier, making it likely to become the TCP/IP of the future Web3 era and promote the profound transformation of the Internet.
5: SatoshiNet âConglianâââPerfect solution to the integration challenge of L1+L2
A true second-layer network: SatoshiNet combines L1 and Satoshi Chain, and realizes the issuance of assets on L1 and the efficient circulation of L2 through the lightning network channel, successfully solving the "impossible triangle" problem in the blockchain field.
Efficient circulation and low-cost transactions: With the help of SVM technology, SatoshiNet not only achieves efficient circulation and low-cost transactions, but also ensures the security of the Bitcoin ecosystem, setting a new benchmark for other blockchain ecosystems.
6: SatoshiNet âConglianâ landed â rich application ecology
Rich application scenarios: With the implementation of SatoshiNet, various applications such as DEX (Satswap), DeFi, and Metaverse have sprung up, forming a safer and more advanced ecosystem than Ethereum.
The start of advanced gameplay: SatoshiNet has pushed the application of the Bitcoin ecosystem to a new level, providing developers and users with a safer and richer ecological experience.
7: SAT20 Satoshi Protocol promotes the popularization and implementation of RWA
Clearing technical obstacles: The SAT20 Satoshi protocol provides technical support for the deployment of assets on the traditional world chain, allowing RWA (physical assets) to be issued on the Bitcoin chain to achieve efficient circulation and security.
Bridge for Web3 transformation: Through the SAT20 protocol, the issuance and circulation of RWA assets can be solved in one stop, paving the way for global asset digitization and Web3 transformation.
8: SAT20 Satoshi Protocol empowers real enterprises - promotes the implementation of token economy
Innovative business model: Physical enterprises can issue points on Satoshi through the SAT20 protocol, and trade or redeem equity on the chain, innovate business models, and realize a closed-loop ecosystem that integrates consumption, investment, and integration.
The rise of new business models: The SAT20 Satoshi Protocol not only promotes the popularization of corporate token economy, but also provides new tools and methods for corporate customer acquisition, customer fission and business expansion.
đĄSummary: The SAT20 Satoshi Protocol demonstrates its potential as a core pillar of the Bitcoin ecosystem through in-depth narratives of eight major topics. From rare Satoshi management, SFT asset standards to Web3 transformation and RWA applications, the SAT20 protocol is leading the Bitcoin ecosystem towards a richer and more diverse future. With the gradual implementation of SatoshiNet, the SAT20 protocol will surely lay the foundation for the Bitcoin ecosystem and bring revolutionary changes to global blockchain applications.
SAT20 official website: https://sat20.org/index-zh.html
SAT20 Whitepaper: https://docs.sat20.org/
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