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Seize the new opportunity in the Bitcoin ecosystem and take stock of the potential projects in the BRCFi track.

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Original Title: "BRCFi Application Highly Favored by Capital, How to Seize the New Bitcoin Ecological Opportunity?"

Original Author: Grapefruit, ChainCatcher

With the continuous rise of BRC 20 tokens such as ORDI, SATS, and RATS, the heat of the Bitcoin ecosystem has also increased. Bitcoin ecosystem applications and infrastructure surrounding Ordinals inscriptions and BRC 20 have emerged like mushrooms after rain.

According to data from the encryption platform Rootdata, since December, multiple applications within the Bitcoin ecosystem have announced financing.

On December 20th, ALEX Lab, a one-stop DeFi service platform based on Bitcoin Stack, received a strategic investment from LK Venture, a subsidiary of Blue Harbour Interactive.

On December 18th, Biis, a Bitcoin BRC ecosystem aggregation toolset, announced that it had received strategic investment from CGV, a cryptocurrency investment institution. GoDID, a DID market aggregator, completed a new round of financing led by NGC with a valuation of 30 million. A few days ago, bdid.io, a sub-platform of GODID, focused on issuing BDID tokens for the BTC ecosystem.

On December 16th, Tap Protocol, a Bitcoin infrastructure project for building OrdFi applications, completed a $4.2 million financing round led by Sora Ventures. On December 14th, bitSmiley, a Bitcoin stablecoin lending protocol, completed a financing round led by ABCDE and OKX Venture. On December 11th, Liquidium, a Bitcoin lending solution for Ordinals, completed a $1.25 million Pre-Seed round of financing, with participation from Bitcoin Frontier Fund and Sora Ventures.

On December 7th, cross-chain protocol MAP Protocol announced strategic investments from DWF Labs and Waterdrip Capital, and has achieved BRC 20 cross-chain functionality. Bitcoin collateral project Babylon announced the completion of a $18 million Series A financing round, led by Polychain Capital and Hack VC, among others.

Within less than 2 weeks, a total of 8 Bitcoin ecosystem-related projects have received funding support from cryptographic capital, covering cross-chain, lending, pledging and other products, all of which are financial application products built around new assets such as Ordinals and BRC 20.

With the influx of funds, the wealth effect of the Bitcoin ecosystem continues to ferment, evolving from the hype of BRC 20 inscriptions to the infrastructure and application products built around these assets, such as the IDO platform Bounce Finance's token AUCTION, the cross-chain bridge Multibit's token MUBI, and the stablecoin BitStable's governance token BSSB, all of which have risen by more than 100% in the past 7 days. With the strong support of capital and the surge in Bitcoin ecosystem application assets, a new track, BRCFi, has emerged.

BRCFi refers to the DeFi ecosystem driven by the BRC 20 token, which is built around BRC 20 and Ordinals assets. Currently, the BRCFi track has launched multiple cross-chain bridges, stablecoins, IDO platforms, lending and other suite products. So, what are the representative products of BRCFi applications? How is the operation situation?

Bounce Finance's BRCFi Suite for Trading: Cross-Chain Bridge, Stablecoin, IDO Platform, etc.

Bounce Finance (AUCTION) Centralized Auction Platform Takes Off with the Bitcoin Boom

Bounce Finance (AUCTION) was originally a multi-chain decentralized auction platform that provides services such as token issuance and NFT auctions, simplifying the process of new project IDOs. The platform was created in September 2020 by Jack Lu and Ryan Fang, with Jack Lu being a partner at NGC Ventures. Born in the era of the comprehensive outbreak of DeFi applications, Bounce Finance's application was not outstanding, and with the bearish trend of the cryptocurrency market, the platform gradually faded out of the sight of cryptocurrency users.

However, in November, the Bounce Finance platform quickly gained popularity for issuing the Multibit token MUBI and the stablecoin BitStable token BSSB, which are part of the Bitcoin ecosystem's cross-chain bridge. After the IDO on the Bounce Finance platform, MUBI and BSSB saw gains of several tens of times, and the wealth effect brought by these IDO assets made the Bounce Finance asset issuance platform, which was hidden behind the scenes, the biggest winner and regarded by users as the "birthplace of the next tenfold coin".

In the past month, Bounce Finance has successfully issued three Bitcoin ecological project tokens on its platform. On November 12th, the Bitcoin cross-chain bridge MultiBit asset MUBI was issued, with an IDO unit price of 0.00047 US dollars and a current price of 0.39 US dollars, with a cumulative increase of over 1000 times; on November 29th, the public sale of the Bitstable project token BSSB, a stablecoin protocol based on Bitcoin, was launched, with each BSSB IDO costing about 0.27 US dollars and a current price of 9.5 US dollars, with a cumulative increase of about 40 times; on December 15th, the DID service platform GoDID token BDID was launched in the Bitcoin ecosystem, with a public sale price of 0.0029 US dollars and a current price of 0.06 US dollars, with a return of over 20 times.

Due to the skyrocketing wealth creation stories of one IDO project after another, Bounce Finance has become the IDO platform for the benefit of the Bitcoin ecosystem. After successfully launching the Bitcoin ecosystem asset MUBI, Bounce Finance has announced a series of actions to enter the Bitcoin ecosystem.

On November 25th, Bounce Finance announced on social media that it is preparing to cultivate the BTC ecosystem and will focus on incubating and providing auction support for BTC projects.

On December 1st, Bounce Bit announced the launch of a Bitcoin DeFi application chain built on Binance's BTCB. BTCB is a wrapped asset issued by Binance that is anchored 1:1 to real BTC assets. Users can obtain BTCB by locking BTC, allowing BTC holders to participate in on-chain DeFi activities and earn more profits without giving up their BTC positions. The Bounce Bit network will build a series of DeFi applications around BTCB and the native token AUCTION.

On December 6th, Bounce Finance announced a rebranding to Bounce Brand, which includes products such as the Bitcoin-based application chain Bounce Bit, the one-stop entry for exploring Bitcoin DeFi applications Bounce Box, and the Bitcoin ecosystem asset auction platform Bounce Auction.

On December 19th, Bounce Brand announced that IDO will launch a token issuance using the "killing two birds with one stone" strategy, with two independent teams jointly issuing a token. The project identity is confidential and participation will be through AUCTION and BitStable's stablecoin DAII, with two auction pools available.

With the help of the Bitcoin ecosystem, Bounce Finance has successfully transformed from a forgotten auction platform to a leading IDO application in the Bitcoin ecosystem. Its native token, AUCTION, has seen a growth of approximately 108% in the past 7 days and a surge of over 40% yesterday, currently priced at $40.78 with a market cap of $260 million.

Bitcoin Cross-Chain Bridging Protocol Multibit

Multibit Bridge (MUBI) is a cross-chain protocol within the Bitcoin ecosystem that supports the easy cross-chain transfer of BRC 20 and ERC 20 assets, allowing assets to be transferred between Ethereum, BNB Chain, and other EVM networks and the Bitcoin network.

MultiBit simplifies the process of cross-chain token transfer between Bitcoin BRC 20 and EVM networks. The specific cross-chain implementation process is as follows: first, the user deposits the cross-chain BRC 20 token into the BRC 20 address provided by Multibit. After the Multibit protocol confirms, the corresponding EVM target chain will mint and release the token to the user. When the user wants to cross back the BRC 20 token, Multibit will destroy the corresponding number of tokens in the EVM chain and release the corresponding BRC 20 token on the Bitcoin chain.

However, Multibit's goal is not only a cross-chain bridge, but also to integrate various BRCFi application ecosystems such as OAMM transactions, yield aggregators, and stablecoin issuance in the future.

其中，OAMM trading refers to the decentralized trading protocol launched by Multibit based on Ordinals assets, which is designed specifically for trading Ordinals (ORDI) tokens. All liquidity pools are priced in ORDI token pairs for price discovery. The yield aggregator optimizes the yield of ORDI tokens in the BRCFi application. The stablecoin is also minted with ORDI as collateral.

BRC 20 Ecological Stablecoin Lending Protocol Uplink Finance

Uplink Finance (UPFI) is a stablecoin lending protocol designed specifically for BRC-20 asset investors such as ORDI and SATS. It claims to be the MakerDAO of the BRC-20 ecosystem, allowing BRC-20 asset holders to unlock the liquidity value of their holdings without having to sell them.

On the Uplink Finance platform, users deposit BRC-20 assets such as BTC, ORDI, and SATS as collateral to borrow the stablecoin UPSD through over-collateralization.

On December 12th, Uplink Finance announced that SATS and ORDI will become the first batch of collateral for platform stablecoin minting, while also airdropping platform governance token UPFI to its asset holding users.

Currently, the Uplink Finance platform's collateralized lending page has not yet been officially launched.

Ordinals Ecological Infrastructure Tool: Donation Platform TurtSat and Tap Protocol for Building OrdFi Applications

TurtSat: Gitcoin in the Bitcoin ecosystem

TurtSat (TURT) is a community-led donation platform for Ordinals, with a mission to become the Gitcoin of the Ordinals world. The platform features a donation protocol, aimed at enabling more open-source developers and communities to participate in the ecological development of Ordinals and enjoy benefits. Anyone can build and donate to the Ordinals ecological protocol through Turtsat.

In short, project parties can obtain funds through TurtSat, and users can obtain profits by supporting and donating to projects. Currently, the TurtSat platform supports the token issuance of multiple Bitcoin ecological projects in the form of Lanchpad, similar to Bounce Finance.

As of December 20th, the TurtSat platform has issued BRC 20 asset protocol Chamcha token CHAX, BRC 20 cross-chain bridge Multibit token MUBI, Ordinals aggregation platform NXHUB token NHUB, Ordinals lending platform Dova Protocol token DOVA, Bitcoin ecosystem game platform Rabbit token RAIT, Bitcoin ecosystem metaverse game Svarga token SVGR, etc. These projects are all infrastructure construction platforms related to BRC 20 and Ordinals within the Bitcoin ecosystem. Yesterday, the TurtSat platform also launched the Bitcoin collateral platform Zooopia token ZOOA.

On December 7th, TurtSat announced the launch of a staking pool for its native token TURT, which supports TURT holders to participate in token issuance projects on the platform and earn more profits. In addition, TurtSat will also issue a new asset called EGGS, which can be obtained by staking TURT tokens. EGGS can be exchanged for the whitelist of the Launch project, and in the future, EGGS will be applied to more scenarios such as project launch voting and direct exchange of cooperative token gift packages.

Among them, the maximum circulation of TURT, the native token of TurtSat, is 1 billion, with a current price of $0.078 and a market value of $78.73 million. As for the circulation of EGGS, it has not been disclosed.

Platform Tap Protocol for building OrdFi

Tap Protocol is a platform for building OrdFi applications launched by Ordinals indexing protocol Trac. On December 16th, it announced the completion of a $4.2 million financing led by Sora Ventures.

Trac is an infrastructure project in the Ordinals ecosystem, aimed at providing a decentralized system for tracking and accessing protocols related to Ordinals, such as BRC 20, sats domain names, and more. It provides a standardized interface for creating, managing, and trading digital assets on the Ordinals platform.

Tap Protocol is a platform used to build OrdFi applications. It will provide a range of tools to help developers build DeFi products based on Ordinals, without the need for complex Bitcoin Layer 2 networks. This includes providing segmentation of inscriptions and enabling DeFi applications on inscriptions.

In the future, Tap Protocol will launch Ordinals fragmented products, exchange pools, lending, and staking products.