🧪About BRC-20 Staking Protocol
Disclaimer: brc-20 staking is an experimental protocol that is currently under development. We will continue to improve the protocol, so please exercise caution when participating.
13/06/2023 Update: brc-20 staking protocol currently supports both brc-20 and orc-20 as staking tokens.
Introduction
BRC-20 Staking Protocol is the first Staking Protocol standard for Bitcoin ordinals, created by BRC20 LAB, to enhance some of the key features of BRC-20. It is aimed to create a stable revenue model based on the foundation of the BRC-20 & ORC-20 protocols, with safety and practicality as prerequisites. The BRC-20 staking protocol combines the security of ORC-20 with the stability of BRC-20, utilizing a dual-token model to enable users to passively earn rewards through non-custodial staking. However, BRC-20 Staking Protocol is an experimental project and there is no guarantee that the tokens created with this standard will have any value or utility. Therefore, users should exercise caution and do their own research before using BRC-20 Staking Protocol.
A guide to Ordinals, BRC-20, and ORC-20
Ordinals are digital artifacts introduced by Rodarmor. It can carry various types of data on Bitcoin network.
BRC-20 is a token standard by Domo. Tokens can be deployed, minted, and transferred using Ordinal inscriptions.
ORC-20 is an open token standard for Bitcoin ordinals, created by OrcDAO, to enhance some of the key features of BRC-20.
Concept of BRC-20 Staking
The design inspiration for brc-20 staking comes from Uniswap's staking pool, which has a well-established design mechanism and has been tested by the market. Our indexing calculation rules will also align with theirs. Please refer to their code for more information:
Non-custodial Staking: BRC-20 Staking Protocol allows users to stake their tokens without transferring ownership, providing a non-custodial solution. This ensures that users maintain control over their assets while earning staking rewards.
Dual-Token Model: The protocol incorporates a dual-token model, utilizing both BRC-20 and ORC-20 tokens. This combination enhances the stability and security of the staking process, providing a more robust and reliable system.
Passive Earnings: With BRC-20 Staking Protocol, users can passively earn rewards by staking their tokens. This means that they can generate income without actively participating in trading or other activities, making it a convenient and effortless way to grow their tokens.
Flexibility and Accessibility: The protocol offers flexibility by allowing users to stake and unstake their tokens at any time. It also ensures accessibility by supporting a wide range of BRC-20 tokens, providing users with more options to participate in staking.
Consistency with ORC-20 Protocol: BRC-20 Staking Protocol maintains consistency with the ORC-20 protocol, ensuring compatibility and alignment in terms of key operations and functionalities. This simplifies the integration process and promotes a seamless user experience.
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