Opening a discussion on the topic of bringing wrapped BTC ordinal inscriptions onto NoM.
Some key points:
- The user experience on BTC is terrible due to volatile fee rates that can leave txs trapped in the mempool. Expensive fees are a primary market force that disrupts the ordinals economy. It’s only going to get worse.
- The market is starting to seek something that isn’t SOL, ETH, etc
- The ideal place for projects to migrate is a neutral territory that is aligned with Bitcoin ethos. imo the closes thing is dogechain.
- With no fees, NoM could open up all sorts of creative defi dynamics for project developers. (staking, full scale airdrops, p2p swaps, loans…)
- Ordinals project developers and community members are first movers, early adopters, and degens.
- Several ordinals projects are already testing the waters in other chains.
- I believe this is an ICP project for wrapped btc ordinals: https://twitter.com/bioniqMarket