After January 2023, the emergence of the Bitcoin Ordinals protocol laid the foundation for the emergence of the inscription track. It divides Bitcoin into parts based on satoshis and engraves different information on each satoshi to achieve non-homogeneity. The effect of assets, and since then, many applications using the Ordinals solution, including BRC20, have continued to enter the market, and the inscription sector has set off a wave on the Bitcoin chain.
Retail investors play a leading role in the Mint track. Inscriptions such as BRC20 adopt the Fair Launch model. All chips are cast by retail investors themselves. There is no institution, no project party, and no rat warehouse. Everyone needs to cast Mint by themselves. Inscription Track replicated the wealth effect of the meme two years ago. For example, the cost of casting Ordi was about $1 per piece. After being launched on CEX, the price increased to $20,000 per piece. In addition to Ordi and Sats, they also brought wealth myths. The exaggerated increase has caused the popularity of the BRC20 protocol to continue to rise. Many people call the rise of Inscription Track a “bull market for retail investors” and a “new round of DeFi Summer.”
The FOMO emotion brought about by the wealth effect has attracted many Ordinals players to flock to BRC20. But on the other hand, this also caused the Gas on the Bitcoin chain to continue to rise. The lowest confirmed Gas at the peak even reached 400 s/vb, breaking through the highest Gas in three years.
High Gas prevents many players from participating, and at the same time brings unprecedented challenges to the Bitcoin network. In order to solve this problem, many solutions including RGB, Lightning Network, etc. have been mentioned again, but there is currently no mature solution that can actually solve the problem.
At the same time, the inscription assets themselves lack effective liquidity mechanisms and transaction scenarios, which also makes the narrative direction of many inscription assets relatively empty and lacks actual scenarios.
In this context, Sobit is building a new cross-chain solution to bridge BRC20 assets to Solana, which will further empower inscription assets and allow more users to enjoy wealth at a low threshold and let the bullets fly for a while!
Sobit: Catalyst for the spread of wealth effect in the inscription market
Sobit is a new bridging solution that bridges BRC20 assets to the Solana chain. Based on Sobit's cross-chain facilities, users can cross-chain BRC20 assets to Solana, that is, mint equivalent tokens on the Solana blockchain. From then on, SLP standards BRC20 assets can be traded in Solana's DeFi facilities, such as Swap, lending, derivatives, and more.
Sobit adopts a new bridging solution that ensures maximum security of assets through powerful multi-layer security protocols, while simplifying the user journey through an intuitive interface and streamlined process, and paving the way for extensive cross-chain functionality and future growth .
In fact, the Solana network has recently shown great potential in the development of the DeFi sector. According to DeFilama data on December 16, the 24-hour transaction volume of DEX on the Solana chain exceeded US$1.4 billion, with a 24-hour increase of more than 50%, surpassing Ethereum for the first time and ranking first. This means that the Solana ecosystem is becoming the leader in the DeFi field. Ministry of Ecology. The excellent capital efficiency and trading experience are expected to further expand the ecological boundaries of BRC20 assets, allowing assets on Bitcoin to cross over to Solana to release liquidity and funds, improve capital efficiency, and inject a new narrative direction and space into it.
Sobit is becoming a new catalyst for the spread of the wealth effect.
From another perspective, both the Solana ecosystem and the BRC20 asset sector are backed by a huge number of users. Sobit is becoming a new link bridge, which means that Sobit will naturally rely on a massive user base, and can quickly become a widely adopted cross-chain infrastructure, and can empower many partners.
Similarly, cross-chaining Inscription assets is a relatively new concept in itself, and Sobit is the first cross-chain solution that can realize the cross-chain solution of BRC20 assets on the Solana chain. This is also expected to make Sobit the leading ecosystem in the field of Inscription cross-chain. Therefore, its ecological token $SOBI will also span multiple concepts such as cross-chain and inscription. Its future value performance and market potential are self-evident.