ABCDE: Why we led the investment in Bitmap.tech

Source: ABCDE

Bitmap.tech has established the largest first-level asset community in the Bitcoin ecosystem. It owns the first NFT blue box in the Bitcoin ecosystem with a market value of 350 million, and holds 33,000 bitmaps. There is a community of investors, including the BRC420 asset protocol, which is the second largest in the Bitcoin ecosystem by market value, and Merlin Chain, the Bitcoin Layer 2 expansion solution. He is one of the strongest players in the Bitcoin ecosystem.

Bitmap.tech’s Layer 2 strategy is unique. Unlike other Layer 2s that “build the second layer first, and then the second layer,” Bitmap is “first build the secondary assets, and then build the second layer.” Guide its leading secondary assets and strong user group public opinion to the second level.

Bitmap.tech holds 200 million identical blue boxes and a Bitmap holder community of 33,000. These assets can reserve a rich asset and user base on the first day Merlin Chain goes online, and have advantages that other Bitcoin Layer 2 cannot match.

1. Assets first, then Layer2

Bitmap.tech has the most influential Bitcoin second-layer asset community among all Bitcoin layer2s.

They are sitting on Bitcoin’s original BRC420 asset protocol. The market value of BRC420’s asset blue box has exceeded 200 million. It is the strongest NFT in the Bitcoin ecosystem. It is even included in the 10K NFT collection on the entire network. Bitmap .tech’s blue box is also second only to CryptoPunks and BAYC.

Unlike the Ordinals protocol, which is a "single inscription", the BRC420 protocol is equal to the gradient of multiple inscriptions combined into a complex inscription. Therefore, BRC420 can carry a variety of asset types far beyond BRC20, ranging from a character or pet to an entire game script, virtual machine or even large AI model, which can be combined into assets on the Bitcoin chain for developers to purchase or pay. Snapshot.

BRC420 consists of two parts, one is Metaverse Standard (Metaverse Standard), and the other is Royalty Standard (Metaverse Standard). It previously defined an open format for assets in the Metaverse, and at night it is for creation The player economy sets up the on-chain protocol.

At present, more than 1,000 team assets and games have been released on the BRC420 protocol, including game images, game DLC, HTMl scripts, music, videos, etc., and have received a large number of on-chain transactions. These 1,000 teams have received over $10 million for images released on the BRC-420 protocol.

2. Ecology first, then Layer2

Bitmap.tech has the strongest original ecology among all Bitcoin layer2s:

Bitmap browsing The server and BRC420 protocol are online in advance. The market value of BRC420 assets exceeds 260 million, with more than 20,000 independent addresses. The peak transaction volume exceeds all Bitcoin asset protocols. In addition, there are the essential game Bitmap War, the multi-layer application RCSV, and the Bitmap portal browser Bitmap Explorer, forming a closed-loop ecosystem from the asset protocol - Layer2 - Dapp - community.

Bitmap.tech attracts more than 90% of the traffic of Bitmap, a physical asset at the Bitcoin exchange rate level. It has a market value of more than 250 million US dollars and has 33,500+ independent addresses. It is the largest Ordinals asset community. As a 1:1 mapping of BTC blocks, Bitmap is decentralized and is the most encrypted native + most authentic BTC metaverse. Bitmap.tech has completely eliminated Bitmap’s built-in editor, game engine and game platform, greatly improving Bitmap’s activity and transactions. Its activity level has even surpassed Ethereum’s Sandbox and Decentraland, and is the largest element of the entire cryptocurrency. In the universe community, Bitmap.tech has the opportunity to expand Bitmap to the entire crypto ecosystem and has the potential to break the circle.

3. Pragmatic layer2 solution - Merlin Chain

The Bitmap.tech team is very familiar with the advantages and disadvantages of various BTC technology stacks, and adopts pragmatic technical solutions to develop Bitcoin Layer2 ——Merlin Chain. As a serial entrepreneur, founder Jeff has been deeply involved in games, Metaverse, and Bitcoin for many years. He believes that the biggest winner of Bitcoin Layer 2 is whoever can have a say in the asset protocol on the BTC layer + control assets with high market value + a community with a large base, whoever can be at the forefront and become the winner. Similar to the Ethereum ecosystem back then, Polygon, as an Ethereum side chain, is ahead of the most prominent Layer 2 competitors, not because Polygon has the most complete technology, but because it was the first to absorb ideas and build a huge ecosystem.

The second layer of Bitcoin is still far from perfect. With the current Bitcoin architecture, it is impossible to have a "technically pure" L2 or Roll-up, because the main chain cannot verify the second layer. transaction. Therefore, Bitmap.tech Merlin Chain's second-tier plan is more pragmatic and also has long-term plans.

After the mainnet goes online, Merlin Chain will continue to upgrade and quickly integrate key modules such as the ZK-Rollup network, the decentralized proximity machine network, and the proof of fraud on the Bitcoin chain. The data is compressed to the maximum extent through ZK technology and then uploaded to the Bitcoin network to verify the security of the ZK state root and ZK Proof. At the same time, pledging BTC at the network level provides a mechanism basis for the challenge.

Merlin Chain is not only an EVM compatible chain, but also has an account abstraction structure, allowing users to use Bitcoin and Ethereum wallets at the same time. And Merlin will bridge the initial assets of multiple Bitcoin layers to the second layer, using Cobo's MPC solution to determine that all funds are non-custodial and safe. Merlin's overall solution will be audited by multiple companies and open source.

Different from other Bitcoin second-layer solutions, Merlin Chain will continue to support Bitcoin wallets and addresses. They adopt the account abstraction solution of Particle Network. Users can use Unisats or OKX wallets or even email and mobile phones in Merlin Transfer, authorize and receive assets on the Chain.

Merlin Chain will be launched in early February, and 18 Dapp ecosystems have joined, including DEX iZUMi, cross-chain bridge Mesonfi and Polyhedra, Bitcoin native asset applications Bitmap.Game and Bitmap.War, BRC-420 heavy There are also other outstanding ecological projects such as Mineral, a Bitcoin stablecoin, and BitSmiley.

The summer battle for Bitcoin Layer 2 has started.

Protocols such as Ordinals/Atomicals/Taproot Assets mint a large number of assets in Bitcoin. When a large number of assets are minted, the exciting Bitcoin Defi Summer may follow, allowing 900 billion Bitcoins with a market value to enter Layer 2. Perhaps TVL will be larger than the entire Ethereum ecosystem. In this extremely large ecosystem, Bitcoin Layer 2 has at least billions of TVL second-layer or Defi opportunities.

Now, amid the Bitcoin panic, who will Layer2 focus on first to highlight the siege?

Bitmap.tech has the No. 1 NFT asset blue box in the Bitcoin ecosystem, the No. 2 asset protocol BRC420, the No. 1 asset community (Bitmap+BRC420) and the strongest original assets and ecology. Bitmap.tech is undoubtedly a leading entity in the selection of Bitcoin Corrosion Coin Layer 2 contestants. Its metaverse standard protocol is expected to expand Bitmap to the entire crypto ecosystem and become the largest crypto metaverse. We look forward to Bitmap.tech being able to realize the prosperous ecosystem of Bitcoin.