ABCDE: Why We Led the Investment in Bitmap.tech

Written by: ABCDE

Bitmap.tech has established the largest layer of asset community in the Bitcoin ecosystem, boasting the first NFT in the Bitcoin ecosystem, the Blue Box, with a market value of 350 million USD, a community of 33,000 Bitmap holders, the second largest asset protocol BRC420 in the Bitcoin ecosystem, and the Bitcoin Layer2 scaling solution Merlin Chain. It is one of the strongest players in the Bitcoin ecosystem.

Bitmap.tech stands out in Layer2 strategy; unlike other Layer2s that "first build a second layer, then have assets," Bitmap follows the approach of "first building a layer of assets, then a second layer," directing its leading layer of assets and strong user consensus into the second layer.

Bitmap.tech holds a Blue Box worth 200 million USD and a community of 33,000 Bitmap holders. These assets will have a rich reserve and user base on the first day of Merlin Chain's launch, providing advantages that other Bitcoin Layer2s cannot match.

1. Assets First, Then Layer2

Among all Bitcoin Layer2s, Bitmap.tech has the most influential Bitcoin layer asset community.

They possess the native Bitcoin BRC420 asset protocol, with the market value of the BRC420 asset Blue Box exceeding 200 million USD, making it the strongest NFT in the Bitcoin ecosystem. Even in the entire network's 10K NFT collection, Bitmap.tech's Blue Box ranks just behind CryptoPunks and BAYC.

Unlike other protocols like Ordinals that are "single inscriptions," the BRC420 protocol recursively combines multiple inscriptions into a complex inscription. Therefore, BRC420 can accommodate a variety of asset types far exceeding BRC20, from a character image or pet to an entire game script, virtual machine, or even AI large models, all of which can be combined into Bitcoin chain assets for developers to purchase or pay royalties.

BRC420 consists of two parts: the Metaverse Standard and the Royalty Standard. The former defines an open format for assets in the metaverse, while the latter sets on-chain protocols for the creator economy.

Currently, over 1,000 teams have issued assets and games on the BRC420 protocol, including game characters, game DLC, HTML scripts, music, videos, etc., earning substantial on-chain royalties. These 1,000 teams have received over 10 million USD in royalties on the BRC-420 protocol.

2. Ecosystem First, Then Layer2

Bitmap.tech has the strongest native ecosystem among all Bitcoin Layer2s:

The Bitmap browser and BRC420 protocol have been launched successively, with the market value of BRC420 assets exceeding 260 million USD, over 20,000 independent addresses, and peak trading volumes surpassing all Bitcoin asset protocols. In addition, there is the native game Bitmap War, the recursive application RCSV, and the Bitmap entry browser Bitmap Explorer, forming a closed-loop ecosystem from asset protocol to Layer2 to Dapp to community.

Bitmap.tech captures over 90% of the traffic of the native Bitcoin layer asset Bitmap, with a market value exceeding 250 million USD and over 33,500 independent addresses, making it the largest Ordinals asset community. As a 1:1 mapping of BTC blocks, Bitmap is fully decentralized, representing the most Crypto Native and authentic BTC metaverse. Bitmap.tech has developed a built-in editor, game engine, and gaming platform for Bitmap, significantly enhancing its activity and trading, with its activity even surpassing Ethereum's Sandbox and Decentraland, making it the largest metaverse community in the crypto space. Bitmap.tech has the opportunity to expand Bitmap into the entire Crypto ecosystem, possessing the potential to break boundaries.

3. Pragmatic Layer2 Solution - Merlin Chain

The Bitmap.tech team has a deep understanding of the advantages and disadvantages of various BTC technology stacks and has developed a pragmatic technical solution for Bitcoin Layer2 - Merlin Chain. Founder Jeff, as a serial entrepreneur, has been deeply involved in gaming, the metaverse, and Bitcoin for many years. He believes that the key to winning in Bitcoin Layer2 lies in who can have asset protocol discourse power on the BTC layer, control high-value assets, and have a large community base; that entity will be the first to become a winner. Similar to Polygon in the early Ethereum ecosystem, which stood out among various Layer2s not because of the most refined technology but because it first gained consensus and built a massive ecosystem.

Currently, Bitcoin's Layer2 is still far from perfection. The current Bitcoin architecture cannot support a "technically pure" L2 or Roll-up because the main chain cannot verify Layer2 transactions. Therefore, Bitmap.tech's Layer2 solution, Merlin Chain, focuses more on pragmatism while also having long-term plans.

After the mainnet launch, Merlin Chain will continue to upgrade, quickly integrating key modules such as ZK-Rollup networks, decentralized oracle networks, and fraud proofs on the Bitcoin chain. By using ZK technology to compress data maximally before uploading it to the Bitcoin network, it verifies the security of the ZK state root and ZK Proof while staking BTC on the first layer to provide a basis for the challenge mechanism.

Merlin Chain is not only an EVM-compatible chain but also has an account abstraction structure, allowing users to use both Bitcoin and Ethereum wallets simultaneously. Furthermore, Merlin will bridge multiple native Bitcoin layer assets to Layer2, using Cobo's MPC solution to ensure that all funds are non-custodial and secure. The overall solution of Merlin will be audited by multiple companies and open-sourced.

Unlike other Bitcoin Layer2 solutions, Merlin Chain will continue to support native Bitcoin wallets and addresses. They adopt Particle Network's account abstraction solution, allowing users to register on Merlin Chain using Unisats, OKX Wallet, or even email and mobile phones to transfer, authorize, and receive assets.

Merlin Chain is set to launch in early February, with 18 Dapp ecosystems already joining, including DEX iZUMi, cross-chain bridge Mesonfi and Polyhedra, Bitcoin native asset applications Bitmap.Game and Bitmap.War, BRC-420 native DeFi application Mineral, and other excellent ecological projects like the Bitcoin native stablecoin BitSmiley.

The battle for Bitcoin Layer2 Summer has ignited.

Protocols like Ordinals, Atomicals, and Taproot Assets have minted a large number of assets on Bitcoin. Once a significant amount of assets are minted, the Bitcoin DeFi Summer will follow, allowing the 900 billion USD market cap of Bitcoin to enter Layer2, potentially resulting in a TVL that surpasses the entire Ethereum ecosystem. In this massive ecosystem, Bitcoin Layer2 has at least several billion TVL opportunities for Layer2 or DeFi.

So, among the many Bitcoin Layer2s, who will be the first to break through?

Bitmap.tech possesses the number one NFT asset Blue Box in the Bitcoin ecosystem, the second asset protocol BRC420, the leading asset community (Bitmap+BRC420), and the strongest native assets and ecosystem. Bitmap.tech is undoubtedly already a step ahead among many Bitcoin Layer2 contenders. Its metaverse standard protocol is expected to expand Bitmap into the entire Crypto ecosystem, becoming the largest crypto metaverse. We look forward to Bitmap.tech leading Bitcoin towards a prosperous ecosystem.