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author:Anymose Source: X, @anymose96
RGB++ has finally updated to RGB++ Layer with a complete DeFi suite. What are the opportunities here?This article will use plain language and vivid cases to reveal them one by one.
Starting from 2024, the Bitcoin ecosystem has dominated this round of new narratives.New infrastructure with the goal of Bitcoin expansion, new assets with anti-VC as the slogan, and replicate the glory of EthereummissionThe new application forms the main framework of the new narrative.In the infrastructure sector, Bitcoin Layer2 has been repeatedly mentioned, which is also a must-fight for military strategists.If only the extension “chain”-based scheme is considered, then the account model that is compatible with EVM virtual machines and the UTXO model that is Bitcoin-like is the two fastest-forward areas.
Picture 1 A Brief diagram of Bitcoin expansion construction ideas
The EVM of the account model cannot solve the security problem of Bitcoin’s native assets for the time being. It requires the (centralized) cross-chain bridge or asset custodian to complete asset bridging. The UTXO model-based solution can use bridgeless cross-chain such as isomorphic binding.Implement this function.Recently, RGB++ based on UTXO modelprotocolThe technology upgrade has been carried out and the RGB++ Layer has been officially launched, which marks the complete unification of all protocols and assets that support the UTXO model, including new protocol types such as Runes, BRC20, etc.This article will use illustrations to take you to understand this new technology in a simple way and explore the wealth code brought by this technology.
What is RGB++ Layer?
RGB++ Layer is upgraded from RGB++.Before the upgrade, the RGB++ protocol was a Bitcoin-level coin issuance protocol, which is characterized by supporting bridgeless cross-chain and using CKB as its decentralized indexer.This upgrade extends the scope of technology application to all networks that support UTXO, such as BSV, BCH, DogeCoin and other new Bitcoin first-layer asset protocols such as Runes, BRC20, etc.Let’s take a look at what technical modules have been upgraded to be used by so many public chains and unify very scattered assets under one standard.
Picture 2 RGB++ composition diagram
RGB++ Layer, like Omni Layer, leverages the security of the UTXO model and the strong infrastructure of the Bitcoin blockchain to ensure the security and reliability of all transactions and asset management.RGB++ Layer provides a common asset issuance and management mechanism, allowing users to create and manage various digital assets on RGB++ Layer.
RGB++ Layer has Turing’s complete smart contract functions, allowing developers to create and execute complex contract logic. Smart contracts expand the application scope of the UTXO model and provide support for various decentralized applications.
Omni Layer is mainly based on Bitcoin blockchain, while RGB++ Layer’s bridgeless cross-chain feature makes it further in interoperability and flexibility, and can interact with more blockchain networks, allowing BTC, CKB, BSV,Assets on chains such as BCH operate seamlessly on RGB++ Layer.
Overall, RGB++ Layer is an independent and versatile UTXO smart contract layer, which can provide bridgeless cross-chain and decentralized financial infrastructure for the entire UTXO model ecosystem.To achieve this goal,RGB++ browser and DeFi infrastructure based on RGB++ Layer will also be launched soon.In addition, there are other DeFi suites, including StableCoin Stable++,Staking agreement LST CKB and so on.
Figure 3 RGB++ Layer Defi component diagram
The characteristics of RGB++ Layer are not just for Defi, although the entire ecosystem has begun to promote it.BitcoinFi, but RGB++ Layer has broader value and significance.
First of all, RGB++ Layer can greatly improve the liquidity and returns of BTC assets.Bitcoin expansion has been going on for many years, and many solutions have been born, and each solution is also working hard to build its own ecosystem. In the long run, various assets are particularly dispersed. Even the same UTXO model has serious problems.Separate the situation.RGB++ Layer’s Bridgeless Cross-chainThe function allows BTC to interoperate with other UTXO chains (such as CKB, BSV, BCH, etc.), breaking the island effect between chains.This will promote collaboration and resource sharing among different blockchains, and improve the interconnectivity and liquidity of the entire UTXO ecosystem.With the help of smart contracts, BTC assets can be utilized in more application scenarios, such as pledge lending, liquidity mining, cross-chain transactions, etc.This not only improves the liquidity of BTC assets, but also provides holders with more profit opportunities, further enhancing the financial attributes of BTC.
Secondly, from the user’s perspective, RGB++ Layer provides a seamless user experience.Users can seamlessly access using existing BTC wallets, use all protocols and applications that support RGB++ Layer, without having to download a bunch of wallets and learn how to use them.This improvement in user experience can greatly reduce the threshold for user participation and promote the adoption rate of the entire Bitcoin ecosystem.
Third, don’t forget that RGB++ Layer itself is a combo-able like Lego. Developers can flexibly combine various Defi protocols and classify assets that support UTXO models into a unified liquidity management system.At the same time, RGB++ also has common asset issuance and management capabilities, and eachTypes of assetsSuch as Coin(FT) and DOBs (NFTs)All can be managed uniformly, providing flexible asset issuance and trading mechanisms.This general asset management capability makes it more convenient to build and manage complex assets on the UTXO model, and can greatly expand the application scenarios of the UTXO model.
What can RGB++ Layer do?
After understanding what RGB++ is and its significance to the entire Bitcoin ecosystem, our question is: What can RGB++ Layer do?Especially for developers and ordinary ecological participation users, what opportunities are there?We first throw Figure 4 and then expand it in detail.
Picture 4 What can RGB++ Layer do
Asset Issuance
The characteristics of blockchain projects are that assets first and communities first. It is crucial for an agreement to have a complete and fully managed asset issuance function.The first function of RGB++ Layer is unified asset issuance and management. It can easily issue various assets on the blockchain with the help of smart contracts.RGB++ has been trial-run asset issuance before, but its functions are limited to asset issuance, and there is no infrastructure support for asset liquidity and empowerment.After the protocol upgrade, developers can more conveniently issue UTXO asset types, and provide more abundant assets through the Defi Lego component, such as cross-chain, transactions, pledges, lending, providing liquidity, community governance, etc.
In the RGB++ Layer layer, the issued assets are uniformly abstracted and have Turing-complete programming. With the help of bridgeless cross-chain and smart contracts, the asset circulation of UTXO chains has actually been opened.This gives asset issuers a new inspiration. The inspiration for the issuance of assets in RGB++ Layer is aimed at the entire UTXO ecosystem, and assets can be planned from a larger perspective, user base, and ecological environment.
DeFi combination
RGB++ Layer has added a blockchain browser and Defi suite to the update, and composability has become a necessary basis for enabling large-scale adoption of Bitcoin Defi.In the UTXOSwap protocol that was first disclosed, intent-based liquidity market making plans have been greatly improved compared to order books and automatic market makers (AMMs).Through UTXOSwap, users and third-party market makers can provide liquidity for assets and participate in liquidity mining.
Stable++ provides Defi with the necessary stablecoin support. This project has just received investment from the CKB Eco Fund. The team plans to develop the first over-solidated stablecoin protocol on RGB++ Layer to serve the Bitcoin ecosystem.In this plan, users can use Bitcoin assets such as BTC, CKB or other new assets issued by RGB++ Layer as collateral to mint stablecoin USDPP.ccBTC is a Bitcoin derivative jointly launched by CKB Eco Fund, Meson Finance and CrossChain Token, issued on the CKB main network and anchored by 1:1.
These infrastructure improvements can make RGB++ Layer more like Lego’s modular Defi component platform.Based on the “UTXO Lego” design, developers can flexibly combine various DeFi protocols to stimulate innovation, such as the UTXO Lending platform, cross-chain NFT market, privacy trading platform, etc., to provide diverse financial services to ecological users.
asset Management
With RGB++ Layer, we can uniformly manage all UTXO protocol assets and even Bitcoin first-layer new protocol assets such as Runes, BRC20, etc.The assets here include more thanFor example, Coin(FT) also includes various DOBs (NFTs), with the support of a unified agreement and liquidity incentives, multiple forms and multiple assets will be opened up. Some can be exchanged through bridgeless cross-chain transactions or Swap, and some can be exchanged directly through Dex.
Another meaning of management is to improve efficiency, especially asset efficiency.Users can use the payment tools on RGB++ Layer to perform fast and low-cost payments and settlements between different blockchains.Developers can use RGB++ Layer to build a cross-chain DEX and lending platform, supporting asset transactions or lending on chains such as BTC, CKB, BSV, BCH, etc., and users can seamlessly exchange assets of different blockchains through this service.
RGB++ Layer has the hope of integrating the ecological assets of the huge UTXO model, and ultimately, it will form asset management services with smooth user experience, sufficient liquidity and extremely high asset efficiency in this ecosystem.
What are the wealth opportunities for RGB++ Layer launch?
Leading assets
The best opportunity for the rise of an ecosystem must not miss the leading assets. These assets have a very high awareness and a broad user base. When funds pour into the ecosystem, the first choice for large funds will enter the leading assets.Among these assets, CKB must be the most important one.
The core foundation of RGB++ Layer is still based on the CKB ecosystem. With the continuous increase in applications, CKB tokens will not only undergo huge changes on the supply side, but will also undergo huge changes in the direction of circulation.Specifically, as ecological projects continue to increase, especially in the form of assets such as DOBs, the occupation rate of CKB Cells will increase sharply, which will directly affect the output and occupation ratio of CKB tokens.On the other hand, innovative DeFi portfolios require a large number of CKBs to be locked, staked or provided liquidity, which will further reduce the number of circulating CKB tokens.At present, CKB token is the only token that has entered the big market, and its liquidity and popularity are sufficient. If a new wave of craze is caused by RGB++ Layer, CKB will definitely be listed as the No. 1 Wealth Opportunity.
Except for CKB,The first asset Seal based on the RGB++ protocolShould be paid attention.The community has given Seal a lot of empowerment. UTXOSwap opened a Seal/CKB trading pair as soon as possible. Through liquidity incentives, Seal’s trading depth is getting better.IBO (Initial Bitcoin Offering), the first Launchpad platform of the BTC ecosystem developed and operated by the Seal community, will be launched during this week’s BTC 2024 conference. The first Seal to Earn project is Stable++, an over-solidated stablecoin protocol based on UTXO.Stable++’s total protocol tokens is 21M, and will first airdrop a 20% share to Seal’s stakeholders on the IBO platform.
In terms of DOBs, as the most well-known DOBs asset in RGB++, Nervape is still in the market undervalued stage for the time being.After more than three years of development, Nervape has gained wide recognition from the ecosystem, and the team is very outstanding in IP development, visual design, and technology research and development.However, due to the lack of financial infrastructure, Nervape cannot enter a broader ecological perspective and cannot generate more financial gameplay links. However, with the help of RGB++ Layer, it is very hoped to usher in a new round of gameplay upgrades and wealth opportunities.
Another DOBsUnicornunicornThe first round of “picture opening” has been completed. After the picture opening, the unicorn obtained DNA and can carry out various forms of creation around the DNA community, such as games, PFP, novels and even DeFi innovation.ReëmIt is a PFP project created by the community based on unicorn DNA. It has now become the largest number of DOBs cast in the CKB ecosystem, and the number of holders is also ranked among the top three, but its current market value is extremely low. If you can use RGB++ Layer to give more financial gameplay,ReëmIt is very likely to reproduce the crazy increase of unicorns.
Picture 5 RGB++ Layer New Wealth Password?
Innovative assets
The best opportunity for wealth may always be the next one.New assets may be launched through an asset launch platform. With the help of RGB++ Layer unified asset protocol, it can attract excellent projects from many other chains such as BCH, BSV, DogeCoin, etc. to come here to launch.
Launching new assets on RGB++ Layer only requires one contract to launch and deploy the issuance of assets on multiple chains, or you can share the liquidity pool across chains and support the bridgeless circulation of multiple assets. It makes the issuance of assets easier and more efficient management.
The first batch of DeFi infrastructure projects launched in RGB++ Layer are all innovative assets and are worthy of attention.The DEX platform UTXOSwap, stablecoin project Stable++, ccBTC, LST and other projects have expected to issue coins, and the projects can be deeply involved in the early stages.Behind innovative assets are new applications. If you pursue relatively stable returns, you can consider tilting BTC, CKB and stablecoins into this ecosystem.
Ecological card slot
The best wealth opportunity is still entrepreneurship, and developers can create new careers in the vast world of RGB++ Layer.CKB Ecological Fund for Ecological ProjectsGenerally, about 50,000 Grants incentives are given, and no incentive limit is set for important and excellent projects., help early-stage projects grow.With a unified liquidity market, more professional service roles such as market makers and hosting providers will appear, and development tools are becoming increasingly perfect. Starting a business with the help of RGB++ Layer is undoubtedly the best choice.
According to observations, RGB++ Layer will focus on asset issuance and liquidity incentives, so developers can focus on it.Asset launch platforms (LaunchPad), decentralized exchanges (DEX), cross-chain DOBs trading market, mortgage lending, stablecoins, liquidity mining such as pledge and re-pled must be the first batch of key support.
In addition, developer tools and developer services will also be areas with very large short-term demand, and will also be popular through technical documents, training, hackathons, bounties, development tools, data dashboards, etc. provided to developers.
