Binance's listing of ORDI has been questioned by the founder of Ordinals, and the trading platform also seems unclear about what BRC is
BRC 20 has long been a hot topic in the Bitcoin community. As the first deployed BRC 20 Token, ORDI was deployed in April of this year, and it has been seven months since then, yet many people still do not understand ORDI.Author: kaori, jaleel, BlockBeat
BlockBeats reports that on November 7, Binance announced the launch of ORDI, followed by the introduction of ORDI's 1-50x U-based perpetual contracts. As of the time of writing, ORDI is priced at $13.353, with a 24-hour increase of over 127%.
Binance's Launch of ORDI Description Questioned by the Community
After Binance launched ORDI, some community users claimed that it was incorrect for Binance's announcement to regard ORDI as a token of the Ordinals protocol, stating, "BRC-20 is part of the Ordinals protocol, and ORDI is just a memecoin within BRC20."
Although Binance later deleted this statement and replaced it with "ORDI is the first token created on the Bitcoin blockchain according to the BRC-20 fungible token standard," Ordinals Hub employee @cbspears pointed out that the "information" page associated with the ORDI token on Binance had links unrelated to ORDI, calling it "extremely misleading."
Ordinals Founder Requests Binance to Remove ORDI Related Information
This morning, Casey Rodarmor, the founder of the Bitcoin Ordinals protocol, posted on social media requesting Binance to remove certain links pointing to Ordinals from its ORDI token information interface, stating, "I hope this issue can be resolved quickly. ORDI has nothing to do with the Ordinals project, the open Ordinals Institute, or The Ordicord. These links should be removed, and the token should not be named Ordinals; it should be ORDI. If anyone at Binance has contacts who can help resolve this situation, please have them DM me!"
In the official manual of the Ordinals protocol, Casey envisioned the Ordinals protocol as one that creates "digital artifacts," or "NFTs," through Bitcoin. However, with the development of the Ordinals protocol, the number of inscriptions related to BRC 20 has accounted for over 85% of the total inscriptions. Casey feels that the "art gallery" he created has become a playground for speculators, which deeply troubles him.
Related article: 《A New FT Protocol for Bitcoin Emerges, Ordinals Founder Can No Longer Tolerate BRC》
However, there are differing opinions within the community regarding this matter. Some believe that this blunder serves as a good introduction for newcomers who do not know what Ordinals are. "More exposure is a good thing."
Crypto KOL @BTCdayu believes that "this founder is emotionally unstable, lacks a big-picture perspective, and has a strong desire for power, wanting to define how the Bitcoin ecosystem should operate, which is terrible. Therefore, I do not participate in any other protocols he later creates because I despise this person. Decentralized protocols grow like natural diamonds, while overly centralized protocols are like artificial diamonds. This will be the first law of the Bitcoin ecosystem."
Binance Has Updated Ordinals (ORDI) Token Information
According to the latest news from BlockBeats, the official website shows that Binance temporarily cleared the Ordinals (ORDI) token information earlier today, and then re-launched the ORDI token information, including market capitalization, ranking, circulating supply, historical highest price, and other details.
What is ORDI?
BRC 20 has long been a hot topic in the Bitcoin community. As the first BRC 20 Token to be deployed, ORDI has been around for seven months since its deployment in April this year, yet many people still do not understand ORDI.
In fact, ORDI is unrelated to the Ordinals project and is a genuine community meme coin, even appearing on second-hand marketplaces.
Related article: 《Is the BRC Craze the "Last Carnival" for Retail Investors?》
In addition to ORDI, more BRC 20 ecosystem meme coins are continuously emerging. Due to the four-character limit on BRC 20 Token names, a BRC-20 Token named $nals gained popularity with the story "Ordi + nals gives Ordinals a complete home." $nals was actually deployed as early as March 10 but was not fully minted until May 1.
After being "discovered" by the community, ORDI's price skyrocketed like a rocket. In a now-dissolved BRC-20 OTC group, ORDI was sold for $0.088 (1 piece = $88) on April 19. By April 25, in the Ordswap Discord OTC, the asking price for ORDI had already risen to nearly $0.65 (1 piece = $650).
With Binance launching ORDI trading yesterday, the price of ORDI has already surpassed $13.
