According to BlockBeats, on September 11, OP_CAT advocate and Taproot Wizards co-founder Udi Wertheimer said on his social platform that the user experience of BRC-20 and Runes disappointed most crypto enthusiasts. Bitcoin consensus (Bitcoin nodes and miners) does not recognize their existence. Udi said that CATNIP, a new Bitcoin native token protocol based on the OP_CAT recursive contract, can solve the above problems.
According to reports, CATNIP allows the market to place partial orders, and users do not need to split UTXO in advance, just buy the required number of tokens. It allows bidding, and users can say that they want to buy a certain amount of CATNIP at a certain BTC price, and then let one or more sellers complete the transaction. As a result, the protocol will even allow on-chain L1 AMMs and liquidity pools. Due to Bitcoin’s slow blocks and other issues related to transaction relay strategies, Udi believes that L1 AMMs will not bring a good experience, but CATNIP will also allow fast and secure off-chain AMMs (for example, using CatVM).
It is reported that CATNIP is under development and is undergoing testing. When OP_CAT is launched on the Bitcoin mainnet, the team will launch the protocol.
