🏦Introduction
Introduction
Welcome to Ordibank, a groundbreaking protocol built on Bitcoin L1 that leverages the logic of Compound Finance in an off-chain balance state processing environment. Heralding the BTCFI ecosystem as the first of its kind Borrowing & Lending Protocol on native Bitcoin. Ordibank combines the robustness of Bitcoin nodes via Bitcoin Core v25.1 and ord v0.14 and the virtualized smart contract logic and off-chain balance states to create a unique money market for Atomicals and BRC20 standards.
Principal Basis
Ordibank is a derivative of Compound Finance's logic, adapting it to the Bitcoin network. The protocol is based on the conversion of Compound Whitepaper and the Compound Protocol's Solidity smart contract code available at Compound GitHub in a modular and coherent manner to an off-chain processing environment. This ensures a strong foundation for the Ordibank protocol.
Supported Assets
Ordibank supports a variety of assets, including BTC, BRC20 & Atomical Tokens. Users can borrow and repay BTC, Ordinals and Atomicals using Ordibank. Additionally, we have created a stable BRC20 on Bitcoin (USD Stablecoin) providing stability to the money market operations on the platform.
Significance of cBTC1 for BTCFI on Bitcoin L1:
The introduction of cBTC1 on the Bitcoin L1 network is poised to be a transformative step for Bitcoin Finance (BTCFI). By tokenizing Bitcoin through cBTC1, Ordibank enables a substantial transition of trillions of dollars of native liquidity into the BRC-20 and Atomical money market it has created. This transition is monumental as it allows previously untapped liquidity from the Bitcoin ecosystem to seamlessly integrate into the native operator financial landscape.
cBTC1 acts as a gateway, attracting massive liquidity from Bitcoin holders who can now leverage their Bitcoin assets within the Ordibank platform. This transition brings unprecedented opportunities for Bitcoin liquidity to flow into Ordibank, providing users with a broader array of financial instruments and yield opportunities. As a result, cBTC1 is instrumental in not only expanding the utility of Bitcoin but also fostering the growth and maturation of the entire DeFi ecosystem on the Bitcoin L1 network through Ordibank.
Why use Ordibank?
Competitive Pricing: Users can obtain BRC20 and Atomicals at a nearly 1:1 ratio, offering a more favorable rate compared to swapping on decentralized exchanges (DEX) or automated market makers (AMM).
Additional Income: Users can earn extra income by participating as Borrowers or Lenders in the first ever, native Bitcoin money market environment.
Ordibank is not just a protocol; it's a pioneering solution on Bitcoin L1, bringing the power of Compound Finance to the Bitcoin network. With a focus on asset support, competitive pricing, and user benefits, Ordibank is poised to redefine the money market for atomicals and BRC20 standards. Join us on this exciting journey as we continue to develop and enhance the Ordibank protocol for the benefit of developers, users, and investors alike.
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