Ordiswap v2, the first AMM on the Bitcoin native layer, is now fully live!
Users can:
- Seamlessly swap BRC-20s
- Transfer tokens cross-chain b/w Bitcoin and Ethereum
- Stake their $ORDS
- Provide liquidity for yields
- Create their own pools
The following liquidity pools are now live:
- [ $ORDI ] - BTC/ORDI
- [ $SATS ] - BTC/SATS
- [ $BTCS ] - BTC/BTCS
- [ $RATS ] - BTC/RATS
- [ $COM ] - BTC/.COM
- [ $GHSY ] - BTC/GHSY
- [ $LIGO ] - BTC/LIGO
- [ $TRAC ] - BTC/TRAC
What is Ordiswap?
There are markets, wallets and volume in Bitcoin DeFi. But, this is overshadowed by bad UX, high slippage, illiquidity and a lack of transactional efficiency.
In addition, the Bitcoin network is limited in programmability, performance and scalability, without basic DeFi infrastructure like smart contracts. This makes it very difficult to trade Bitcoin-native tokens like BRC-20s in a decentralized, non-custodial setting.
Ordiswap helps users overcome all of these limitations, enabling a direct avenue for users to engage in BTC/BRC-20 trades on Bitcoin's native layer.
Ordiswap eliminates reliance on external intermediaries, providing a direct, efficient, and secure means of accessing liquidity — natively on Bitcoin.
Think Uniswap, but on Bitcoin’s native layer.
- Ordiswap enables complex computations on the Bitcoin native layer with the help of “off-chain balance states” — managing user balances and interactions with periodic settlements on Bitcoin. These transactions inherit the security and finality of Bitcoin.
- There is seamless interoperability with the EVM ecosystem, with cross-chain swaps enabled via the highly liquid THORChain pools. No bridges, no L2s, no problem.
- Users can create pools in a permissionless manner, provide liquidity and stake to earn yields. Ordiswap is the first protocol to enable LP tokens to exist on Bitcoin.
This means:
- No more fractured liquidity. With easy avenues to bridge to L1, liquidity is coming home to Bitcoin.
- An efficient, low-slippage, interoperable infrastructure which will allow a thousand DeFi primitives to bloom on Bitcoin. Expect yield farms, decentralized lending markets etc.
- No more over-the-counter (OTC) trades.
- Ordiswap LP tokens can be plugged into all different types of DeFi applications, opening up a whole new world of composability and network effects.
Ordiswap achievements
In summary, Ordiswap has managed to:
- Create the first AMM that is native to Bitcoin L1.
- Port over EVM logic to Bitcoin for the first time, resulting in unparalleled efficiency, speed and interoperability.
- Pioneered the creation of primitives like LP tokens on Bitcoin, vastly expanding the composable nature of L1 DeFi.
- All user actions (swaps, trades, bridging etc) are completed in two block confirmations — it required four blocks, previously.
Ordiswap roadmap
Ordiswap has announced plans to launch a proprietary Layer-2 (Ordilayer), an overcollateralized & decentralized stablecoin (BTSD), a BRC-20 launchpad (Ordipad), and more.
More details on this coming soon. Follow us on Twitter for more information.
Conclusion
The Bitcoin network has reached a pivotal moment with the rise of decentralized finance (DeFi) applications, fueled by significant developments such as the Taproot upgrade, BRC-20 standards, and the launch of Ordinals. Ordiswap is a leading player in this space, constructing a comprehensive infrastructure for Bitcoin DeFi, introducing innovative solutions like the Ordiswap AMM and ensuring seamless interoperability with the EVM. With its groundbreaking features, Ordiswap is setting the stage for a BTCfi summer, where the most decentralized and liquid network becomes a thriving hub for various DeFi primitives. In the coming months, expect to see an expanded product suite with the launches of L2 Ordilayer, stablecoin BTSD, and a BRC-20 launchpad (Ordipad).