UniSat supports, CAT20 becomes the new favorite of Fractal Bitcoin ecosystem? | BTC Ecosystem

原创 | Od人工智能ly Planet Daily ( @OdailyChina )

Author: Golem ( @web3_golem )

Since the launch of Fractal Bitcoin mainnet, hot projects have surged one after another. FLUX, known as the first token protocol, has not been fully digested (recommended reading Over-the-counter price surges 60 times, what is the origin of FLUX, known as Fractals first token protocol? ), and yesterday a new token protocol called CAT Protocol stole the limelight again.

CAT Protocols first token, CAT, has a total of 21 million, 5 coins per CAT, for a total of 4.2 million. The current minting progress is about 35%, and it will take about 2 days to complete the minting at the current progress . As the popularity increases, the Fractal Bitcoin network fee has soared from 100 to more than 1500.

Why does CAT cause such FOMO among players? Is it worth participating? In this article, Odaily Planet Daily will briefly introduce the characteristics of CAT Protocol, the reasons for its popularity, proxy gaming websites, and the cost of participation, etc., hoping to be helpful to readers.

Complete token standard design

CAT Protocol consists of two parts, one is the homogeneous token standard CAT 20, and the other is the non-homogeneous token standard CAT 721. Currently, only CAT 20 is introduced in the official documents. If you read the CAT 20 technical documentation carefully, you will find that the token design of CAT Protocol is relatively complete from deployment to minting logic. The following is a brief summary of the characteristics of CAT 20 tokens:

• CAT 20 token names are not unique . Similar to ERC 20, anyone can deploy a token with the same name/symbol, so there will be no token name grabbing like BRC 20 and Rune;

• Use contracts to manage token casting and transfer . When UTXO is spent to cast new tokens, new Minter UTXOs are generated, and these UTXOs can be used to recursively cast more tokens. Although UTXOs will be merged, the number of tokens will be retained. Therefore, the phenomenon of burning CAT assets because UTXO containing assets is used in the casting transaction input, which is widely circulated in the community, may not actually exist.

• The issuance and minting rules are more flexible . Unlike indexer-based protocols, CAT 20 token issuers can define arbitrary minting rules without making any changes to the underlying protocol, including: supporting paid minting, limiting minting time and height, setting POW mining mechanism, whitelist minting mechanism and similar pledge minting rules. Please see the official documentation for details.

• Supports decentralized and centralized issuance methods . CAT 20 supports decentralized minting, similar to BRC 20, where the token issuer only sets the parameters and anyone can participate in minting new tokens; it also supports centralized minting, where only the token issuer can mint tokens.

• Supports functions such as pre-mining and token destruction.

Proxy platforms are launched one after another

Although these features are enough to fascinate some technology enthusiasts, they are still in the documents, and the community is still trying to figure out how to transfer money. Currently, all players can do is mint, and in addition to building their own nodes, some proxy platforms are also being launched, as listed below:

• CoinTool : Those who played multi-chain inscriptions last year may be familiar with this platform. It has also launched a CAT 20 proxy tool. At that time, it was still mainly used by users to import wallet mnemonics, which had certain risks. Interested friends can use small addresses for testing.

• bitatom : A tool developed by independent developer 禅 . Previously, he independently developed the Atomicals trading market and has a high degree of community trust. Currently, his platform can only display the CAT casting progress. The casting function is still under 发展 and I believe it will be launched soon.

• Runetoshi : Actually, it is a paid proxy serv冰, not a platform. Users need to open a ticket in its Discord and send it a FB. And it charges 0.2 FB for each minting, which is quite expensive. In fact, there are many proxy services in the community. Players can find them in the community by themselves, but they should also pay attention to the risk of fraud.

CAT 20 has only been online for 2 days, and the market has reacted very quickly. I believe that better tools will be launched soon to reduce the participation threshold gap between players.

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 the CAT 20 token is perfected, it will not cause massive FOMO, after all, not everyone has the time and interest to read the document. The real reason for massive 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 they suspected that UniSat was the support team behind CAT 20. However, in the Twitter space Ord My God hosted 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 that has been working in the OP_CAT field for a long time. The reason is that they have a good understanding of OP_CAT technology to propose such a perfect token protocol, and the style and fonts in the CAT Protocol official documents are consistent with the habits of sCrypt Official.

On the left is the official CAT Protocol document, and on the right is the sCrypt Official tweet

If the speculation is correct, the sCrypt Official team has previously received 10,000 FBs from 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 Protocols CAT 20, there are now 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 of 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 upper hand. 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.

The one who sells shovels gets rich first

Currently, the over-the-counter bid price of CAT is 2 USDT/piece (5 pieces), but the number of transactions is low, which may be due to the fact that it can still be minted or the transfer is not smooth. The following is a CAT minting cost table made by the community. The current Fractal network fee level is around 1800-2000, and the cost of minting one piece is about 2 USDT. There is not much profit in minting now. However, if CAT is minted at a fee level below 200, then the current profit is more than 10 times.

Its unclear whether there was actually enough gold to make the adventurers rich during the San Francisco Gold Rush, but those who sold jeans and shovels in the mines did make money.

On CAT 20, in addition to the early minters who now have considerable income (if they can sell them), those who have already made money are players who provide proxy games, proxy deployments, and sell FB tokens. All three are the shovels needed to mint CAT.

It is difficult to evaluate proxy trading and proxy deployment without public data, but the trend of FB supply and demand has been reflected in the price – the price rose from $15 before CAT minting to $30 in less than a day. Currently, users can trade FB in the community OTC, Bitcoin decentralized exchange DotSwap and centralized exchange coinex. Data shows that the current circulation of FB is about 1.27 million, with a circulation market value of about $38.34 million and a total market value of $6.3 billion.

How long can attention alone last?

FLUX, which claims to be the first Fractal token protocol, has faded from people’s horizons, and its over-the-counter transactions are also bleak. FLUX used the narrative point of “First is first” to capture early traffic. Today’s CAT 20, on the one hand, grasps the “traditional pursuit” of difficulty and threshold in the Bitcoin ecosystem, and on the other hand, has the blessing of UniSat, which has once again attracted the attention of players.

Although CAT 20 has certain advantages in design, it is essentially a product of the attention economy. But how long can this attention economy last?

In fact, many new token protocols have appeared on the Bitcoin mainnet. They all have their own innovations and characteristics, and they have also caused FOMO off-site, but they still cannot escape the fate of extinction, such as huge, veda, cbrc 20, Compos Protocol (cpos) and Orddefi. Fractal may also go the same way, and most players can only keep gambling as before, without any skills, and continue to consume attention and chips.

This article is sourced from the internet: UniSat supports, CAT20 becomes the new favorite of Fractal Bitcoin ecosystem? | BTC Ecosystem

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