Protocol v2.0

The SAT20 asset issuance protocol, ORDX, will continue to evolve based on the needs of the BTC ecosystem while maintaining compatibility with previous versions.

This upgrade primarily aims to enhance the circulation of Satoshi assets on Layer 2 networks, while making the protocol more streamlined and user-friendly.

Key Updates:

Data Writing Method


The data writing method in the ORDX protocol has been upgraded from the original inscription method to the OP_RETURN data method.

New Instructions


Version 2.0 primarily supports the destruction and swapping instructions for Ordinals NFTs. These two instructions have permanent effects and are initiated by the owner to either permanently destroy the corresponding Ordinals NFT or transfer it to another Satoshi.

Data Format:

OP_RETURN | MAGIC_NUMBER | CT_TYPE | CONTENT
MAGIC_NUMBER = OP_16
CT_DESTROY = OP_4
CT_SWAP = OP_5

Destroy Content:

Satoshi | Inscription Number

Swap Content:

assetName | (start, end) | (start, end)

Note: The range of the input Satoshis must be controllable by the user. However, the output Satoshis are not necessarily under the user's control, meaning remote swaps are possible, allowing the binding asset of the Satoshis to be sent to another party. If the UTXO contains multiple ranges for the asset, each range requires a separate OP_RETURN execution. The format for assetName is: protocol:type:tickername (For NFTs, use inscription_number).

Exploring New Features


The stake/unstake operation is similar to deploy, but with the added requirement of staking specified assets to issue corresponding new assets. This can simplify the management of staked assets. This operation instruction must be used with a SatoshiNet channel to take effect. Assets issued via staking are not bound to Satoshis.

assetName | amt

Notes:

Please note that the above new features are still in the exploratory phase and have not yet been officially implemented.

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