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Analysis of the aggregation trading platform NxHub: Born for Bitcoin Inscription ecological traders

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NxHub hopes to be the pioneer of Bitcoin Inscription ecological aggregator.

Source: NxHub

The heat of the Bitcoin ecosystem is growing stronger. Since the launch of the Ordinals protocol in January 2023, the Bitcoin inscription has exploded in growth, with nearly 43 million inscriptions recorded according to data. The significant growth of Ordinals and the emergence of multiple native protocols such as Atomicals and PIPE not only demonstrate the inherent appeal of Bitcoin digital collectibles, but also reflect the rapid development of the Bitcoin ecosystem.

BTC ecological innovation not only brings more possibilities to Bitcoin, but also contains unique investment opportunities: ORDI continues to hit new highs, once breaking through $27, and animal zoo meme coins such as rats and cats have been listed on multiple trading platforms, with prices repeatedly hitting new highs. As BRC20 assets widely sought after by the community continue to emerge, there is a gap in the infrastructure and tools needed to meet the needs of Oridnals ecological traders in the short term.

A new aggregated trading platform called NxHub, focused on the Bitcoin inscription ecosystem, has been launched.

One, what is NxHub?

The basic function of an NFT aggregator is to provide a centralized summary of NFT market information, especially for all NFT order information. With the aggregator, traders can intuitively understand the market information about NFT on different trading platforms. The speed of this process depends on the information collection speed of the aggregator tool, which is also the most basic function provided by most aggregators.

In fact, the success of projects such as 1inch and Blur has already shown the significant advantages of aggregators in the encryption industry.

Especially Blur, as a newcomer to the NFT trading market, has quickly gained market share since its launch due to its smooth interface experience and the design of purchasing multiple NFTs at once, as well as its unique airdrop marketing method and the "custom royalty, zero fees" model. It has sparked widespread discussion on various platforms. According to statistics, Blur is still the NFT aggregator with the largest trading volume on the current chain, and the trading volume of Blur Aggregator far exceeds that of other aggregators.

Now, NxHub hopes to be the pioneer of the Bitcoin inscription ecosystem aggregator.

Simply put, NxHub is an aggregated trading platform that supports Bitcoin Ordinals NFT and BRC-20 assets. By collecting and aggregating order data from Bitcoin inscription markets such as UniSat, OKX, Magic Eden, and Ordinals Wallet, traders can bulk purchase BRC20 tokens and Bitcoin inscriptions on NxHub and achieve multi-platform orders.

The success of aggregators such as Blur and OpenSea Pro has paved the way for NxHub and provided important lessons: by building a unified NFT display interface, they aggregate dispersed NFT market information and present it to traders, greatly increasing the market information density of a single platform. In addition, the Bid Pool module first introduced by Blur allows buyers' bids to form a liquidity pool, allowing sellers to choose to continue to wait for orders or directly sell to the buyer's Bid Pool for cash, greatly improving transaction speed.

In other words, NFT traders have already gone through the process of buying and selling from a single independent platform seller to a buyer selecting and purchasing on public chains such as Ethereum and Solana, to a seller aggregating orders and buyers selecting and purchasing on an aggregated platform. Due to the significant advantages of NFT aggregation platforms, Bitcoin inscription traders will be more inclined to directly use such platforms for operations, shortening the investment decision cycle.

Compared to existing Bitcoin transaction platforms, NxHub aims to be the most user-friendly Bitcoin transaction monitoring platform for Bitcoin traders. It provides a more high-quality and comfortable trading experience, specifically in terms of transaction monitoring.

1. Aggregate more Oridnals asset information

Without using an aggregator, NFT traders must individually visit each trading market to view the information of each market. This is not only unfriendly to NFT beginners, but also to NFT traders.

NxHub plans to integrate more trading markets. The team will use tools such as web crawlers to capture and track listing and order flow information from platforms such as Unisat, OKX, Magic Eden, and Ordinals Wallet. By optimizing the display of trading data, latest prices, and other information on the platform's front-end pages, NxHub aims to attract more traders to use their product.

NxHub aims to integrate more information on Oridnals assets, so traders no longer need to compare prices across multiple platforms. By accessing NxHub, traders can quickly obtain the most popular asset information in the current market, and access data on price fluctuations, trading volume changes, and supply of these NFT assets before trading to assist in their investment decisions.

2. Provide advanced features for trader operations

On the basis of providing NFT transactions, NxHub will also provide advanced features such as batch listing and batch floor-sweeping transactions (buying multiple NFTs at a low price that are currently on sale). Traders can send orders, cancel orders, and other requests in the corresponding market according to their own choices. By providing traders with more convenient batch operations, NxHub simplifies the entire ordering process and makes it easier to operate.

Additionally, NxHub will allow traders to add multiple tokenized inscriptions to their shopping cart. The platform will intelligently process based on the preferences and purchasing needs of different traders, and bundle multiple UTXOs in the same block through technology. The specific implementation process is shown in the following flowchart:

In order to cover the maximum user group, many NFT trading markets have successively launched Ordinals markets, supporting the minting and trading of BRC-20 tokens and BTC NFTs. Dune data shows that although OKX started relatively late in the Ordinals ecosystem, it has become the most important market in terms of current Ordinals trading volume, with a market share of up to 88%. Unisat and Magic Eden only account for 6% and 5% respectively, while the advantages of native markets such as Ordinals wallet with smaller market share are gradually diminishing.

The reason why OKX came out on top later is because it was the first multi-chain wallet to support Ordinals BTC NFT and pioneered the one-click switch address payment network fee function. When transferring BTC NFT, users can use the balance in other addresses in the current wallet to pay for gas, ensuring the safe transfer of NFT.

Adapting to the rapidly changing development of the Bitcoin ecosystem is the foundation for the success of the project.

For NxHub, a better trading experience will attract the first batch of adopters and supporters to the platform. Subsequently, NxHub will accelerate the iteration of new features and updates of new products to adapt to the rapidly changing development trend of the Bitcoin ecosystem, which will become the foothold for NxHub to seize the market share of Bitcoin inscription trading.

Providing professional tools and good UI/UX as auxiliary functions is a standard configuration of NFT aggregators. Since these auxiliary tools are not monopolistic and highly imitable, we can see that in addition to the original NFT trading business, NFT trading markets including Blur and X2Y2 have successively launched their lending products, Blend and X2Y2fi. Especially the former, which once occupied 80% of all NFT lending protocol lending volume, helped the team establish a new growth curve for Blur.

With the deepening development of the Bitcoin inscription ecosystem, NxHub may also timely launch such products. By enriching the product matrix and expanding the team, NxHub will upgrade from a single aggregator to a multi-functional aggregation one-stop market, forming long-term user stickiness.

二、TurtSat New IDO, NxHub Launches Free Launch

To incentivize traders and the platform's long-term development, NxHub plans to issue tokens based on BRC20 called $NHUB. In the future, $NHUB tokens will be related to NxHub's governance and protocol revenue. The specific total amount and plan for the tokens are as follows:

・Token Total Supply: 21,000,000

Token Distribution: 90% will be Free Launched on TurtSat; 5% will be held by the team with a lock-up period of 6 months; 5% will be airdropped to the Ethereum community.

・Number of votes: 420.