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BRC 2.0 upgrade is approaching, and the value of related assets has skyrocketed by hundreds of times.
The BRC 2.0 upgrade is coming soon, and related assets have sparked market discussions.
Recently, with the approaching BRC 2.0 upgrade, the value of related assets has surged, sparking renewed interest in the Bitcoin ecosystem. Over the past month, the trading price of the representative NFT project Adderrels in the BRC 2.0 series has skyrocketed from about $15 to approximately $2300, achieving over 100 times the investment return.
Overview of BRC 2.0 Upgrade
BRC 2.0 is an important upgrade to the existing BRC 20 protocol, aimed at enabling EVM-compatible smart contract functionality for all BRC 20 tokens. This will support advanced financial applications for BRC 20 tokens, including DeFi, stablecoins, DeFAI, DAOs, RWA, and more.
The upgrade is launched by Best in Slot, the core maintainer of the BRC 20 protocol, and has received widespread support from the ecosystem. The goal of BRC 2.0 is to make BRC 20 the focus of the market again.
However, there is controversy over the way BRC 2.0 achieves programmability. It adopts an off-chain processing solution, integrating the EVM executor with the BRC 20 indexer, with the final state update completed by the indexer on the Bitcoin chain. This method is considered by some to lack sufficient decentralization and to carry the risk of a single point of failure.
In addition to programmability, BRC 2.0 also introduces the "Ordinal Locker" feature, enhancing interoperability with Ordinals. This allows users to lock Ordinals assets, providing more gameplay options for BRC 20.
BRC 2.0 Upgrade Schedule
According to the official roadmap, the BRC 2.0 upgrade is divided into two phases:
Market Hype for Pre-BRC 2.0 Concept Assets
Although BRC 2.0 has not officially launched yet, the market has started to speculate on related conceptual assets, mainly some NFT projects that promise future airdrops of BRC 2.0 tokens. Here are a few popular Pre-BRC 2.0 assets:
Adderrels: The first BRC 2.0 concept NFT, with a total supply of 3420, currently the floor price is about 1600 USD, with returns exceeding a hundred times.
LIQUID: Claims to be the first Pre-BRC 2.0 token on Ordinals, with a total supply of 50,000, and a current market value of about $400,000.
Early Birds: Claimed to be the first BRC 2.0 series NFT with staking functionality, with a total of 5000 units and a staking rate of 37.5%.
buttmullets: An NFT project closely related to Adderrels, with a total of 3333 pieces, and a floor price of about 60 dollars.
Griftmo: Total supply of 3888, the floor price is close to the public sale price, and the token airdrop plan has not yet been disclosed.
Currently, the Pre-BRC 2.0 concept assets are of varying quality, and investors should remain cautious when participating.