🎉 @bioniqMarket is now live! 🎉
Try it out -> https://t.co/2pVypKGRcI
After months and months of development, I am very excited to invite you all to try Bioniq, the newest Bitcoin Ordinals marketplace.
Our Focus on User Experience
If you’ve been in the Ordinals space for a while the experience on Bioniq is going to be different, but in a good way I hope. You don’t need a browser extension wallet, you login with a Google account (non-custodial via Web3Auth), and we have a cross-chain wallet built directly into Bioniq.
We built Bioniq on a Bitcoin sidechain (ICP) so you’ll need to wrap assets in order to use them on Bioniq.
Wrapping Assets
To wrap Bitcoin, simply send BTC to your Bioniq wallet and then “Convert” it to ckBTC. It takes about 2 hours to wrap as it requires 13 confirmations (this will likely come down over time).
To wrap Ordinals, simply send your Ordinals to your Bioniq wallet and then “List” them on the marketplace. As part of the listing process you will be prompted to pay for a Bitcoin txn to wrap the Ordinal to use on Bioniq. This only takes 20 minutes as we only need 2 confirmations.
Alternatively, if you don’t want to pay for the Bitcoin txn fees required to transfer or wrap Ordinals to Bioniq, you can list directly on Bioniq using OpenOrdex or Deezy’s Place as both of these marketplaces support open PSBT listings via Nostr.
Benefits of Building on a Sidechain
The beautiful thing about building on a Bitcoin sidechain (ICP) is that once you have wrapped Bitcoin (called ckBTC) and wrapped Ordinals you can:
1. Transfer Bitcoin (ckBTC) in less than 10 seconds (10 sat fee)
2. Transfer Ordinals in less than 10 seconds (no fees)
3. Buy, sell, place offers, bid, and auction on the Bioniq marketplace
Reserved Ordinals
As you interact on Bioniq you’ll notice we use ‘Reserved Ordinals’.
Reserved Ordinals contain all of the data needed to inscribe, but they are stored off-Bitcoin (on ICP) as packets of data that are reserved, tokenized, and given or sold to users. These reserved Ordinals are immediately tradable on Bioniq and allow the reserved Ordinal owner to inscribe as part of a collection whenever they want (e.g., they can wait for lower network fees).
Reserved Ordinals provide flexibility for creators as you can launch a collection without incurring high inscription costs, and provide flexibility for collectors as you can wait until the perfect time to inscribe your inscriptions.
Thank You! 🙏🙏
Bioniq has been a true labor of love for us and we hope you love it as much as we have loved building it. If you have questions, please DM me – I would love to hear from you. And if you find bugs – DM me and let me know. Would love to get them fixed as quickly as possible.
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