10 steps to understand #crc20.
1. bitcoin solved money. it's the best collateral on earth, but it just sits there. it never solved finance.
2. there is a liquidity paradox: to make ur btc work, u always had to give it away. a wrapper, an exchange, another chain.
3. every "btcfi" before took the coin off bitcoin. every time, someone else ended up holding the keys (we all know how that ends).
4. bitcoin made money honest. today, crc-20 makes it liquid. soft covenant is the core idea.
5. ur $btc goes into a vault: a taproot utxo, on L1, with time locks and spending paths bitcoin itself enforces (here, soft covenants).
6. from that vault u mint $axbt, a debt token backed by more $btc than it's worth (110% to 150%), with a (guarantee) term counted in blocks.
7. $axbt moves. swap it for $leaf. add liquidity to the pool. trade it. liquidate matured vaults. while ur $btc stays exactly where it is.
8. the yield: 1% swap fees to liquidity providers. and matured unpaid vaults go to whoever repays their debt.
9. every locked vault counts as tvl. $btc that was sleeping is now working. and u can verify every vault, every lp, every swap.
10. bitcoin where ur coins stay on L1, in ur own utxo, and still become liquid finance. none of it needed a fork. no new opcode. no consensus change.
let's grow (π±)
Bitcoin programmability is about state.
Who owns what?
What can it move?
When can it move?
Where can it move?
Covenants let us constrain that next state.
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π¨ REDFLAG ALERT
@HaboubiAnis aka @M3rl1nOg aka @laz1m0v and @Blockcryptology decided to change the protocol rules, breaking what Universal was meant to be.
Before interacting with anything, run the indexer yourself and verify the state of the network independently.
STAY SAFU
@XuanGuiKeJi The Blacknode marketplace is down because the previous developers shut it off and walked away with our funds.
Blacknodeβs marketplace will only be reactivated if the right incentive is there, meaning real organic growth of BRC-20 on Universal, not developer-driven washtrading.
@XuanGuiKeJi The Blacknode marketplace is down because the previous developers shut it off and walked away with our funds.
Blacknodeβs marketplace will only be reactivated if the right incentive is there, meaning real organic growth of BRC-20 on Universal, not developer-driven washtrading.