The upcoming public sale (IDO) of the BRC20 cross-chain protocol Shell Trade provides a two-way bridge between Bitcoin and the Solana network. In this article, we will provide a detailed explanation.
In recent months, BRC20 tokens, represented by BRC20, have gained significant market attention. However, despite the rapid growth of the BRC20 market, the lack of infrastructure has greatly limited its development potential.
Currently, the construction of BRC20 infrastructure has become a hot topic of market concern and efforts. For example, the upcoming public sale of the BRC20 cross-chain protocol Shell Trade is actively involved in Bitcoin infrastructure. By seamlessly integrating liquidity between Bitcoin and the Solana network, Shell Trade may initiate a new narrative of BRC20 liquidity release.
As a “new species” in the Bitcoin ecosystem, BRC20 has experienced a short period of downturn but has shown strong growth momentum as the asset gains recognition. According to data from the Ordinals tracking platform OrdSpace, as of January 10th, there have been over 37,000 BRC20 tokens created in the market. At the same time, Dune data shows that as of January 10th, based on the Ordinals protocol, over 54 million BRC20 tokens have been minted, generating a total cost of over 5,478 Bitcoin, equivalent to approximately 250 million US dollars.
While the popularity of BRC20 assets continues to rise, factors such as transaction speed and the inability to interact with smart contracts have significantly limited the efficiency and practical utility of these assets. Compared to Ethereum and other platforms with relatively mature infrastructure, Bitcoin infrastructure is relatively weak, resulting in the inability to effectively unlock the liquidity of BRC20 assets.
Among them, the cross-chain bridge, as a necessary feature for user asset transfers, is believed to play an important role in the long-term development of the Bitcoin ecosystem. Shell Trade is the first bilateral bridge designed specifically for seamless cross-network transfer of Bitcoin and Solana within BRC20 tokens. It aims to facilitate the transfer of liquid assets and increase interoperability.
Specifically, Shell Trade allows users to seamlessly connect BRC20 assets with Solana. It supports the transfer of Bitcoin tokens, Ordinals, and BRC-20 tokens to Solana, enabling users to engage in activities such as trading, lending, and mining within Solana’s mature DeFi ecosystem. This combines the liquidity of Bitcoin with the innovative and user-friendly environment of Solana.
In recent months, Solana has shown strong resurgence as a high-performance blockchain platform. It is considered to have great potential due to its cost-effectiveness and higher availability. In addition to continued on-chain activity, the on-chain ecosystem has been thriving, making Solana the third-largest public chain in terms of market capitalization. The technical advantages and popularity of Solana, combined with the popularity of the Bitcoin ecosystem, will provide more opportunities for Shell Trade.
However, while cross-chain bridges help improve asset liquidity for users, the increasing frequency of security incidents has made users more concerned about asset security. In response to this, Shell Trade has taken three measures to enhance its security: smart contract security, multi-signature mechanism, and real-time monitoring and risk management.
Regarding the upcoming IDO, Shell Trade plans to expand its support for the BRC20 protocol in the future. This includes support for Atomical and BRC100. Additionally, Shell Trade plans to launch an exclusive NFT series, providing holders with privileges such as airdrops and fee reductions.
In summary, with the continuous addition of infrastructure projects such as Shell Trade, BRC20 assets are expected to achieve higher capital efficiency and more application scenarios. This will promote the widespread adoption of BRC20, attract more participants, and effectively drive the long-term development of the Bitcoin ecosystem.
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