The first Bitcoin full-protocol asset transition tool, LeapX uses RGB++ to usher in a trustless cross-chain era

With the asset issuance trend of many L1 protocols such as Ordinals, Runes, RGB++, Stamp, Atomics and PIPE, the assets on the Bitcoin chain have become increasingly abundant, which also provides more room for innovative applications and business scenarios. However, due to the incompleteness and popularization of infrastructure, Bitcoin ecological assets cannot achieve efficient and safe interoperability. The greatly reduced capital utilization efficiency and actual utility also limits the large-scale commercial use of Bitcoin.

In response to these market pain points, OpenStamp, SRC20’s first trading platform, recently launched the first Bitcoin full-protocol asset transition tool LeapX, which allows full-protocol assets on Bitcoin to be bidirectionally transitioned into RGB++ assets, and obtain trustless and trustworthy assets. The ability to freely shuttle between L1 and L2 brings more possibilities to the development of the Bitcoin ecosystem.

Release the liquidity of Bitcoin’s native assets and integrate RGB++ protocol capabilities with one click

With the high market popularity and surge of attention, the market scale of Bitcoin ecological assets has skyrocketed, becoming an indispensable part of the crypto market. An overlooked part.

For example, GeniiData data shows that as of May 27, there are more than 89,000 BRC20 standard tokens in the market, with a market value of US$3.66 billion, covering more than 650,000 on-chain addresses; Atomic Market data shows that, There are currently more than 110 ARC20 tokens in the market, with a market value exceeding US$110 million; OpenStamp data shows that the current number of SRC-20 tokens is approximately 136, with a market value exceeding US$210 million.

Although Bitcoin assets have made a promising start, the overall scale is still far from that of other crypto segments. The reason is that although protocols such as Ordinals have opened up the imagination of the programmability of the Bitcoin network, because its scripting language does not have Turing completeness, these assets are limited to hand-over transactions but cannot unlock various complex application scenarios. The problem of non-interoperability of assets also makes the ecological development of Bitcoin in a fragmented pattern.

In order to break down the barriers between Bitcoin protocols and improve the overall weak ecology, LeapX integrates RGB++ protocol capabilities through the Bitcoin native asset protocol conversion function, thereby gaining the ability to freely jump between networks based on the UTXO model. ability. RGB++ is an RGB-based Bitcoin extension protocol that brings Turing-complete contract extensions to Bitcoin assets and improves transaction efficiency and performance while also being secure and censorship-resistant.

Currently, LeapX has supported popular BTC assets such as SRC20, BRC20, ARC20, RUNES, etc. Users can Leap these assets into the same amount of RGB++ assets with one click through LeapX. You can obtain multiple asset advantages including non-interactive transfers, transaction folding, and no need for cross-chain interoperability with CKB, and participate in infrastructure and DeFi applications such as DEX, stablecoins, and lending protocols.

Utilizes isomorphic binding to achieve trustless cross-chain, and has supported Bitcoin L2 and Solana

As the attention and transaction volume of the Bitcoin ecosystem increase day by day, building the application layer has become a key narrative, carrying As BTCFi and L2s unlock the liquidity of Bitcoin assets, they are competing to burst out.

From the technical implementation path, it is mainly divided into side chain, rollup, state channel, client verification and multi-signature + EVM, etc. This also makes each company improve in security, nativeness and decentralization. Each has its own advantages. Among them, most Bitcoin L2 mainly bridges L1 assets through cross-chain bridges. For example, multi-signature + Ethereum EVM is the mainstream method, which allows users to deposit Bitcoin assets to a multi-signature address and then store them on the EVM chain when cross-chain. Cast the corresponding amount of assets. However, if this technical solution wants to support UTXO-based L1 assets, it must use a cross-chain bridge solution (such as locking + casting/destruction) to bridge L1 assets and achieve performance expansion, and it is facing market controversy about legitimacy.

However, in the encrypted dark forest, cross-chain bridges have huge centralization risks. For example, recently Merlin’s cross-chain solution has been controversial in the market due to issues such as the inability to unlock pledged assets, asset cross-chain congestion and limits, etc. B2 Network was questioned about centralization because it was not allowed to use its own DA layer to verify security after adopting the ZK-Rollup scheme. In addition, these cross-chain solutions will also cause asset losses to users due to centralized behaviors such as internal personnel committing evil acts and improper operations by managers. For example, ZKasino recently forced the exchange of $33 million worth of ETH bridged by its users into its own platform currency, and there are many such cases. For Bitcoin L2, whether the project is decentralized enough and whether the assets are safe is the basis for gaining user trust, and is also the key to its own survival and the long-term development of the ecosystem.

The difference is that LeapX realizes the "cross-chain" of assets based on isomorphic binding technology, allowing users to realize the circulation of assets on L2 without bearing the risks brought by cross-chain bridges, and this technology The introduction of it makes it more orthodox.

The isomorphic binding scheme known as the magic modified version of UTXO was proposed by the public chain Nervos CKB. According to its founder Cipher, isomorphic binding uses the homologous feature of the UTXO model to bind and map UTXO-based Bitcoin L1 protocol assets (including Runes, Atomics, Taproot Assets and Stamps, etc.) to the Cell of Nervos CKB , and uses script constraints on the CKB chain and the Bitcoin chain to verify the correctness of state calculations and the validity of ownership changes, thereby bringing Turing-complete contract expansion and performance to Bitcoin without cross-chains and without loss of security. Extension. In other words, compared with other Bitcoin L2 solutions, LeapX introduces isomorphic binding technology to provide users with a more secure, convenient and rich asset management experience, while allowing L1 assets to participate in various L2 transactions in a regenerative way. activities on the chain, thereby further activating the liquidity of Bitcoin assets.

In addition, it is well known that the security of Bitcoin’s PoW consensus mechanism has passed the test of time for a long time. Isomorphic binding also relies on the implementation of the public chain based on the PoW consensus mechanism, that is, the security and removal of Bitcoin L1 assets. Centralization can be guaranteed to the greatest extent.

Currently, LeapX can support the access of Bitcoin assets to L2 that supports UTXO, such as CKB and OpenStamp’s native Bitcoin L2 project ContinentX or even UTXO Stack chain. Not only that, LeapX also supports the seamless link between Bitcoin L1 assets and the high-performance public chain Solana. The latter's extremely high traffic and prosperous ecosystem will provide more liquidity for Bitcoin assets. It is worth mentioning that LeapX will also provide airdrop rewards for the staking and interaction of all cross-chain assets.

In short, as Bitcoin accelerates its integration with the mainstream market, the influx of large amounts of funds and resources will make the Bitcoin ecosystem more room for development, which also puts forward higher requirements for Bitcoin L1 asset interoperability. As tools like LeapX solve users' needs for asset interoperability, they can help Bitcoin L1 assets become the core assets of the Bitcoin ecosystem, while also bringing richer and more efficient innovative use cases to the Bitcoin ecosystem. The degree of asset security and decentralization, the efficiency and friendliness of transactions, etc. all greatly affect the ecological scale and value upper limit of Bitcoin.

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