Meta Moguls

[Meta Moguls @moguls_meta]

@MindAIAGENT best KOLs for $ANDY 0x01CA78a2B5F1a9152D8A3A625bd7dF5765eeE1D8

[Bob Bodily, PhD @BobBodily]

OP_NET: The Bitcoin-Aligned Smart Contract Meta-Protocol

Everything you need to know

1. It is a meta-protocol on Bitcoin, similar to Ordinals, BRC-20, Runes, Counterparty, etc.

2. You can bridge Bitcoin into the meta-protocol (is this the first meta-protocol where we've seen BTC being bridged into the meta-protocol itself?). Multi-sig based bridging (proof of authority from OP_NET nodes).

3. OP_NET nodes (aka meta-protocol indexers) have a WASM VM, so you can execute WASM smart contracts in the indexer (Assembly Script, Rust, Python, TypeScript, etc).

4. You burn BTC (330 sats) as your gas fee to transact on the meta-protocol (have we seen a meta-protocol using L1 Bitcoin as the gas token?), (how do people feel about burning BTC??).

5. You deploy WASM smart contracts by zipping the code using ZLIB and storing the code directly in a Bitcoin transaction using a script-path spend (not in the Ordinals envelope, they have their own envelope structure). This process also generates an unspendable address for users to interact with.

6. You interact with these smart contracts by sending 330 sats (the smallest amount possible due to the dust limit) to this unspendable address associated with the smart contract script-path spend (effectively burning the BTC).

7. Unlike UTXO based meta-protocols (Runes or partially BRC-20) or sat based meta-protocols (Ordinals), OP_NET uses an account based model (more similar to the way Ethereum handles token accounts).

8. OP_NET is very different from other meta-protocols in that it does not sort meta-protocol transactions by the order in which they are included in a block. Instead, transactions within a block are ordered based on the OP_NET transaction fee (execution fee + priority fee). So your transaction might execute first, but mine would get included in the meta-protocol first if I paid a higher OP_NET transaction fee.

9. If users pay an OP_NET transaction fee greater than 0.0025 BTC, anything over that amount goes to support the OP_NET node network (aka meta-protocol indexers) and is not burned.

Bob's Take

The light paper was fantastic. The terminology and descriptions used are refreshingly accurate. "A Bitcoin-Aligned Smart Contract Meta-Protocol" is the perfect way to describe OP_NET. Serious props for authentic communication. And the light paper generally avoids jargon and is an easy read too.

Bridging Bitcoin into your meta-protocol could technically be done with any meta-protocol, but this is the first time I've heard about it happening.

Using L1 Bitcoin as a gas token is brand new. Haven't seen that with any other meta-protocol. Unsure how I feel about burning Bitcoin, but it is Bitcoin aligned that's for sure.

It adds WASM-based smart contract functionality to the meta-protocol (similar to BRC-20 2.0 or ProtoRunes or others), which provides a TON of flexibility for meta-protocol compute.

Overall, a really nice (and new) take on meta-protocols. Will be interesting to see how things progress here.

[Meta Moguls @moguls_meta]

@tokenmetricsinc $moto cbrc20

[Meta Moguls @moguls_meta]

@lukebelmar $moto on bitcoin… Luke you had Pancake swap on BNB. Here is your chance to do it again ok Bitcoin. They are going to be doing the first DEX transaction on BTC L1 in history within the next month. @motoswap

[Miles Deutscher @milesdeutscher]

Weekly Token + Narrative Watchlist 🔎

With #Bitcoin pumping, many altcoins are looking primed for continuation if market conditions remain favourable.

Many of the setups from last week's watchlist played out perfectly - here are the alts I'm looking at this week.👇

$DOGE: Breaking above a key horizontal level at $0.087, and also just took out the recent lower high to reverse trend. A couple of catalysts may be triggering the wake up: DOGE's 10 year anniversary on December 8th, the DOGE-1 mission to the moon in Jan, and many mentions of DOGE on the Tesla Cybertruck checkout page. If market continues, I think this could continue to the next major level at $0.11.

$PYTH: Near or at some exchange contract lows: This is verging on must hold levels for PYTH. R/R levels for upside here are decent. Monitor how it reacts to this level.

PYTH is one of the "new" coins, and has so far been following the classic new coin exchange listing formula: "pump, dump, consolidate, rip to new highs" - watching closely.

$SOL + $TIA ‘Solestia’: This is a "buy the dip" play. Any deep dips, which will probably come (as everyone is quite levered up) are what I’m most interested in. Narrative is strong and has shown prior strength: Solana being the top major performer of the year + Celestia being dubbed as the "next Solana". I want in on big wick, looking for continuation.

$MATIC: The Polygon Connect event starts on December 7th, and we've recently seen volatility heading into conferences. Polygon have also been teasing some announcements, which are due shortly. I'm interested in a potential short hedge here when all is said and done in a couple weeks.

Gaming coins:

Rockstar Games is due to release a trailer tomorrow for GTA 6. If there is even a whiff of in-game currencies, or any blockchain related announcements: Game-fi will move. Watching this closely.

(feels similar to how the OpenAI conference pumped AI tokens. i.e. uncorrelated to crypto specifically but good for the broader narrative).

$ACH + other Chinese coins: Unsure what the underlying trigger is, but $CFX moved quite aggressively today. Either, A: There's an upcoming announcement, or B: It could be the start of another Chinese related token run. Remember, we have been running the same narratives over and over, so this could fit the bill nicely.

If so, $ACH etc. still haven't really moved yet, and I know I have recently said playing laggards is not a good idea; but if the China season starts again; there is time to get in.

$LUNC + $LUNA: There is no value here, but they continue to pump, and are an exact reminder of why it is dangerous to short in this market. However, if Bitcoin fails to break $42k, and begins to exhibit a reversal, people are so over-levered that the flushes will be drastic + will probably revert back to the mean. On my watchlist just in case this scenario plays out.

Let me know in the comments below which altcoins you're watching this week!

And give this post a Like + Retweet if you're enjoying the weekly watchlist series!

[MASON VERSLUIS @MasonVersluis]

This $XRP video gets me HYPED. Watched it 10 times today 🚀

If you aren’t an $XRP holder after watching this video I don’t know what’s wrong with you.

Big thank you to this guy for making this. Now whenever I have some moronic hater hating on $XRP im sending then this.

[NotFinancialAdvice.Crypto @NFAdotcrypto]

Why do I hold $XRP? This video should make it clear. 😤🌍🔀🌐#Ripple #Crypto #Blockchain

[Meta Moguls @moguls_meta]

@BCBacker