0xDogeSwap: A cross-protocol inscription aggregation trading platform on the Doge chain

1. Development Trends of the Inscription Market

At the beginning of 2023, the Bitcoin Ordinals inscription market rapidly emerged, attracting market attention to series inscription applications such as BRC-20.

Data shows that the total minting volume of Bitcoin Ordinals inscriptions has surpassed 43 million, with current total transaction fees reaching 3,000 BTC (approximately $120 million). At the same time, the number of BRC-20 asset types has exceeded a hundred, showing a trend of diversification. Additionally, Turing-complete systems such as Ethereum, Solana, and Polygon have emerged as new value niches in the inscription track. With the launch of Ordinals on Binance, the early and niche field of inscriptions is gradually moving towards the mainstream.

In addition to the above trends, Doge, as a fully decentralized community, has also launched the inscription asset protocol on the Doge chain— the DRC-20 protocol, which has minted over millions of coins since its release. Dogecoin processes more than 2 million transactions daily, and the current DRC-20 market has also become a highly watched part of the crypto market.

2. Inscription Asset Protocol on the Doge Chain

Currently, Dogecoin has two different protocol standards for inscriptions: Doginals and Cardinals, and DRC-20 has three different versions of indexers. The data and standards between different versions are not interchangeable, and the indexed DRC-20 tokens are also different. Doginals was released in February 2023, making it the earliest version and the one closest to the original Bitcoin Ordinals standard.

Cardinals was released in May 2023, with the Cardinals team performing secondary development on the Ordinals code, allowing Cardinals' DRC-20 tokens to be further confirmed, optimizing the issue of BRC-20 wasting UTXO, and launching the DRC-20-Swap protocol to achieve swap functionalities. Cardinals has a wide user consensus scale and has received support from established Doge platforms and OGs, making it the main version supported by the community.

1. Unique Advantages of the DRC-20 Protocol

The DRC-20 protocol innovatively upgrades the technical characteristics of BRC-20, achieving a higher degree of decentralization and improving transaction efficiency. This includes:

• Utilizing the UTXO model, supporting the creation of unique and innovative token concepts, with a broad user base for the DRC-20 protocol, and investors and users being extremely active in the ecosystem;

• The rapid growth of DRC-20 is welcoming broader adoption, promoting cultural transformation within the crypto meme community.

• The DRC-20 protocol ensures absolute asset security by putting the ledger on-chain and employing a POW mechanism;

• DRC-20 standard transactions are faster and have lower fees, driving crypto innovation and increasing market interest, injecting new vitality into the crypto industry;

2. DRC-20 Protocol Ecosystem

Doginals Exchange/Wallet

Address: https://drc-20.org/

Dogi is the first inscription of the first protocol Doginal on the Doge chain, deployed on March 11 by foreign programmer apezord. The initial mint cost was 0.1 DOGE, and the current total market value is over $60 million.

Cardinals Exchange/Wallet

Address: https://unielon.com

DRC-20 is the main exchange for trading volume and liquidity. Currently, the two coins with the highest market value and liquidity in the Cardinals DRC-20 market are Unix and Cardi. Unix (the platform token of Unielon) is currently priced at $0.0021, with a market value of over $20 million. Cardi, the meme token of the Cardinals protocol, is similar to BRC-20's ordi, currently priced at $0.38033, with a market value of about $8 million.

As the DRC-20 market continues to show strong momentum, attracting user and market capital attention, it is noteworthy that Dogmi and Unix have received exchange support, with Gate exchange supporting Dogmi, while the Cardinals protocol has gained support from leading exchange OKX, which will soon be directly launched on the OKX Web3 wallet.

3. What is 0x DogeSwap?

Twitter: https://twitter.com/0xdoge0x

Telegram: https://t.me/official_0xDoge_Inscriptions

The vigorous development of the inscription market on the Doge chain has brought a positive flywheel effect to the crypto industry, highlighting the urgent need for efficient cross-chain trading of the DRC-20 protocol. Against the backdrop of this market prosperity, 0x DogeSwap has emerged as a cross-protocol inscription asset aggregation swap based on DogeChain. It is a permissionless cross-chain protocol launched by Doge. The uniqueness of 0x DogeSwap lies in its seamless integration of trading liquidity between different blockchain network protocols, creating a vast cross-chain trading aggregator that spans networks, platforms, and assets. The platform not only aims to facilitate the transfer of inscriptions between different protocols but also strives to unify liquidity within the Dogechain ecosystem, providing users with a more streamlined and convenient trading experience.

4. Why is 0x DogeSwap Needed?

The introduction of BRC-20 and Bitcoin inscriptions has triggered a global minting frenzy, with major public chains breaking boundaries and innovating, successively launching various inscription protocols and ecological inscription projects. Inscription protocols on Ethereum—Ethscriptions, the inscription market on the Polygon chain—POLS Market, Solana's inscriptions (Sols, Lamp), Avalanche inscriptions (AVAV), and many others have emerged one after another. The fragmentation of public chains has led to poor liquidity in the inscription market, making effective asset circulation difficult. This situation has caused inscription trading to face cross-chain trading challenges, where users often need to operate on different chains, increasing overall complexity. In this context, efficient cross-protocol trading for the inscription market has become crucial.

1. Innovative Shift in Inscription Trading Paradigm

Traditional inscription trading faces a series of challenges, including high transaction costs, inefficient asset liquidity, and complex operational processes. 0x DogeSwap, with its advanced features and innovative approach, has achieved a paradigm shift in inscription trading. Technically adopting the DRC-20 protocol effectively addresses the pain points in previous inscription trading. The introduction of the DRC-20 protocol makes cross-chain trading more efficient and convenient, providing users with an unprecedented trading experience. It breaks the traditional paradigm, creating a more open and seamless inscription asset trading environment for global users.

2. Enhancing Convenience for Cross-Protocol Inscription Trading, Reducing Friction and Improving Timeliness

0x DogeSwap is not just a trading platform; it is a pioneer in providing convenience, reducing friction, and improving timeliness for cross-protocol inscription trading. Its core idea is to simplify the entire trading process, allowing users to conduct cross-protocol inscription asset trading more easily. Through smart routing algorithms, 0x DogeSwap selects the optimal path during trading, reducing slippage and improving transaction timeliness. This design of convenience allows users to save time and effort when conducting cross-protocol inscription trading, enabling them to focus more on asset management and value appreciation.

0x DogeSwap plays a key role in the DRC-20 ecosystem, creating a natural bridge for the circulation of inscription assets between the Cardinals protocol and Doginal protocol on the DOGE network through its unique advantages. It promotes the seamless integration of tokens on DRC-20 with existing blockchain infrastructure, laying the foundation for broader blockchain interoperability. In the future, 0x DogeSwap will further expand its services to provide cross-chain aggregation trading for multiple public chains. By promoting innovation, 0x DogeSwap injects new vitality into inscription trading, achieving an excellent transformation of the cross-protocol trading paradigm for inscriptions and making outstanding contributions to the security and long-term sustainability of the inscription track.

5. Features and Advantages of the 0x DogeSwap Platform

1) Advanced Technology

The technical architecture of 0x DogeSwap mainly relies on the Doge chain's Cardinals protocol, creating inscriptions by recording rich data rather than smart contracts. This innovation offers faster transaction speeds and lower transaction costs compared to Bitcoin, bringing a new perspective to blockchain technology and its applications. At the same time, 0x DogeSwap leverages the powerful capabilities of the Doge chain to achieve aggregation of inscription asset trading.

2) Low Transaction Costs

0x DogeSwap is committed to providing a user-friendly inscription asset trading experience, with one important aspect being low transaction costs. By optimizing the trading process and adopting efficient protocols, transaction costs are reduced, allowing users to conduct cross-chain inscription asset trading more economically.

3) Simple Operation

To ensure broad user participation, the platform emphasizes a simple and easy-to-use interface. It simplifies the operational steps for cross-chain trading, enabling users to complete transactions easily and quickly, improving the overall trading experience and lowering the participation threshold.

4) Multi-Ecosystem Liquidity Aggregation

As a cross-protocol inscription liquidity aggregation platform, it integrates liquidity from L1/L2 ecosystems, DRC-20 inscriptions, the Lightning Network, and various other components. This provides users with a more convenient and in-depth global asset trading ecosystem.

5) Convenient Access to Investor Networks

By collaborating with 0x DogeSwap, projects can easily gain access to potential investor networks. It formulates investment strategies, automatically analyzes market data and trends, providing users with the most competitive pricing, reducing slippage, and effectively enhancing user trading returns.

6) Comprehensive Support to Empower Project Success

By promoting the growth of projects within the DRC-20 ecosystem, it drives innovation and widespread application of inscription assets on the Doge network. 0x Dogeswap leads the development direction of the inscription asset ecosystem with its core advantages.

6. Future Outlook

As the inscription market welcomes a new round of explosion, 0x DogeSwap, as a pioneer in the cross-protocol inscription aggregation trading market, will continue to expand support for more inscription asset markets, providing users with a broader and more convenient trading experience.

UniSwap has led the wave in the DEX field, and 0x DogeSwap, as an early player in cross-protocol inscription aggregation trading, will continue to lead a new trend in multi-protocol inscription aggregation trading and is expected to establish its position in the inscription track. Through continuous innovation and expanding support for more assets and ecological networks, while providing users with more possibilities, it will help the inscription market develop in a broader direction and integrate with multiple crypto fields.