Nostr Assets is about to launch the Fair Mint feature. How can users participate? (Tutorial Included)

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After the launch of Fair Mint, there may be a significant influx of new assets, and the protocol may experience a new wave of attention.

Source: Biteye

The BTC ecosystem is now well known for its popularity. Apart from BRC20, what are some other opportunities worth paying attention to? Why has the $Trick free airdrop skyrocketed to a four-digit level? In this issue, Biteye will focus on the Nostr Asset in the Lightning Network and provide a participation tutorial.

- What Is Tarpoort Asset

- What Is Nostr Asset Protocol

- The First Token Treat & Trick

- Fair Mint Participation Readiness

What Is Tarpoort Asset

1. The Taproot Asset protocol is an asset issuance protocol that does not store asset data in the witness field of transaction inputs (Ordinal way) but saves the data in the UTXO script path.

Through this method, BTC's block space can be more effectively utilized, without causing a spike in Bitcoin network fees, and it can allow traders to avoid high transaction fees.

2. The design philosophy of the Taproot Assets protocol is to move operations off-chain as much as possible while being able to issue and transfer an infinite number of assets in a single-chain transaction. However, Taproot Asset requires a Universe that stores and verifies metadata.

Note: Universe refers to a set of servers containing historical data and verification information for specific assets.

3. These servers act as asset issuers and store data related to asset issuance, transactions, and validation, allowing users to download and verify. Developers can use the Universe's API to build tools such as Taproot Assets block explorers.

Unlike Ordinals that write data to the blockchain, the specific data of assets issued through Taproot Asset is either locally stored or Universe stored.

4. The Bitcoin Lightning Network development team Lightning Labs officially launched the first mainnet version of the Taproot Asset on October 19, 2023.

Lightning Labs' vision is that developers can leverage the Lightning Network to issue and manage assets on the BTC chain. (Lightning Labs has been dedicated to developing the Lightning Network to address Bitcoin's slow transaction speed. The Lightning Network is a Layer 2 solution on BTC.)

What is the Nostr Asset Protocol

5. NostrAssets is an open-source decentralized protocol designed to seamlessly integrate Taproot Assets and Bitcoin into the Nostr ecosystem. It is important to note that Nostr and the Nostr Asset Protocol are two different concepts.

6. Nostr is a decentralized social network messaging protocol that provides a permissionless and trustless relay network. Users interact with Relays through clients to perform functions such as information publishing and subscribing. Former Twitter CEO Jack Dorsey is a notable supporter of Nostr and has joined the project in a supporting role, providing funding.

7. The Nostr Asset Protocol utilizes Nostr messages to control (custody) wallets, helping facilitate essential functions like transfers/trades, built on Nostr's technology. However, the Nostr Asset Protocol is a completely separate protocol from Nostr.

Details can be found at: https://twitter.com/AurtrianAjian/status/1723919714798178505

The current functions of NostrAssets are as follows:

1) Users can import Taproot Assets from other Daemon Universes (such as the Lightning Lab Universe) and send and receive them at the Nostr protocol layer, with asset settlement and security still relying on the Lightning Network;

2) Trade Taproot Assets on the Marketplace;

3) Recently launched asset issuance and introduced the Fair Mint feature for Taproot Assets;

Points to note:

- On November 8, the official Nostr Assets Protocol account replied to a Chinese comment under a tweet, and some users currently doubt the true identity and reliability of the project team.

- At the same time, due to the overheated BTC ecosystem, after the launch on 10/30, Nostr received a large number of asset recharge users. The official has currently suspended asset recharges and is expected to reopen shortly.

The first token Treat & Trick

On October 30, Nostr Assets airdropped its platform's first token TRICK&TREAT to users participating in early tasks (on Halloween day), which has now risen to around $1000

- Total token supply: 2.1 billion each, totaling 4.2 billion

- Total airdrop amount: around 80 million, accounting for approximately 20%

Preparation steps before participation

As Nostr Assets is about to launch the Fair Mint feature and has voiced on Twitter seeking project teams needing asset issuance to cooperate, after the launch of this feature, there will be a large number of new assets emerging, and the protocol may usher in a new wave of attention.

Here are the preparation steps that players who want to participate can take in advance:

1. Install the Alby Wallet: https://t.co/Wbh1WVsTxY

2. Set an unlock password, register an Alby account

3. After successful registration, click Wallet → Receive → Lightning invoice → Enter amount → Create invoice

4. Open the exchange → Withdraw → Select BTC Lighting network → Scan the above invoice QR code (Note: Some new users currently cannot recharge to Alby, but they can have someone transfer to their LN address via Alby, and then they can recharge using the invoice)

To trade on the Nostr market, we need to ensure we also have funds in the Nostrasset protocol, at which point we need to deposit funds into Nostra. (Market trading requires having funds in Nostr because Nostr serves as the custodial wallet here. The expected Mint rule has not been released yet, so it is uncertain whether having funds in Nostr will be required at Mint time.)

https://mainnet.nostrassets.com/#/account