Original / Odaily Planet Daily (@OdailyChina)
Recently, as the BRC 2.0 upgrade approaches, related assets have triggered a wealth effect, and some Degen in the market are once again focusing on the Bitcoin ecosystem. Over the past month, the transaction price of the leading NFT project in the BRC 2.0 series, Adderrels, has skyrocketed from 0.0001269 BTC (about $15) to 0.019 BTC (about $2300), achieving over 100 times return on investment.
What changes will the BRC 2.0 upgrade bring to the BRC 20 protocol? How are the surrounding assets and gameplay currently? Odaily Planet Daily will briefly introduce the BRC 2.0 upgrade in this article and review the conceptual assets and their gameplay in the market.
BRC 2.0 Upgrade Overview
BRC 2.0 is not a new protocol but an upgrade to the BRC 20 protocol launched by Best in Slot, a core maintainer of the BRC 20 protocol. In short, this upgrade aims to enable EVM-compatible smart contract functionality for all BRC 20 tokens to support advanced financial applications such as DeFi, stablecoins, DeFAI, DAOs, and RWAs.
The Best in Slot team has been planning this upgrade since January 2025 and has received broad support from the BRC 20 ecosystem, including the Layer 1 Foundation led by BRC 20 protocol founder domo, Unisat, OKX Wallet, and others. In summary, BRC 2.0 is not a "wild protocol" that emerged out of nowhere, but rather a "conspiracy" by core builders to bring BRC 20 back into the public eye.
However, the way the BRC 2.0 upgrade achieves programmability is not particularly eye-catching and can be classified as an off-chain processing solution. As shown in the figure below, the following is the BRC 2.0 programmable module designed by Best in Slot, where the EVM executor is integrated with the BRC 20 indexer, and the final state updates are entirely performed by the BRC 20 indexer on the Bitcoin chain. In other words, the "EVM executor" does not run on the public chain, and users can only trust the correct contract interaction results updated on-chain by the BRC 20 indexer. Additionally, Best in Slot has also revealed in announcements that it will create a gas-free application chain for BTCFi to eliminate the 10-minute delay and fee barriers of the Bitcoin mainnet.
Therefore, there are also opinions in the market that the programmability of the BRC 2.0 upgrade is too centralized and has single point of failure risks.
In addition to programmability, Best in Slot has launched the "Ordinal Locker" to enhance the interoperability between BRC 20 and Ordinals. This feature utilizes Bitcoin's time-lock mechanism, allowing users to lock Ordinals assets, unlocking gameplay such as mining, staking, airdrops, or voting for BRC 20. The "Ordinal Locker" supports five time-lock options: 1 hour, 1 month, 3 months, 6 months, and 1 year. The rapid increase in the floor price of the BRC 2.0 conceptual leading NFT Adderrels is also related to this feature.
BRC 2.0 Will Launch on the Mainnet on August 14
According to Best in Slot's official roadmap, the successful completion of the BRC 2.0 upgrade requires two phases:
- Phase One: Enable 6-character BRC 20 tokens and launch a launchpad
Phase One will take place at block height 909969 (around August 14). When BRC 2.0 launches on the Bitcoin mainnet, it will enable 6-character BRC 20 tokens (currently, BRC 20 tokens only support 4-character and 5-character tokens), allowing anyone to deploy 6-character BRC 20 tokens. At that time, these new 6-character BRC 20 tokens will also immediately gain "programmability."
Additionally, Best in Slot will release a customized launch platform at the mainnet launch for creating programmable virtual assets based on BRC 2.0.
- Phase Two: Make all BRC 20 tokens programmable assets
Phase Two will take place at block 914888 (around September 17). After this phase is completed, both 4-character and 5-character BRC 20 tokens will achieve programmability.
BRC 2.0 Revives Pre-Runes Gameplay
Even though the BRC 2.0 upgrade has not yet arrived and 6-character BRC 20 tokens are not yet supported for issuance, similar to the pre-speculation of various Pre-Runes assets before the official release of the Runes protocol in 2024, the market has already begun to speculate on Pre-BRC 2.0 conceptual assets. These NFT projects are all claiming that they will airdrop BRC 2.0 tokens in the future. However, there are also many "startup schemes" among them. Below is a recent inventory of popular Pre-BRC 2.0 assets; investors should discern for themselves.
Adderrels
Adderrels is the first BRC 2.0 conceptual NFT, with a total of 3420 pieces. It opened for minting on July 1 at a price of 0.0001269 BTC (about $15), and the current floor price is 0.013 BTC (about $1600), yielding over a hundred times return.
On July 10, Adderrels announced its token economics, with a total token supply of 1 billion, 15% allocated to the treasury, 10% to the liquidity pool, 28% to holder airdrops, 27% to staking NFT rewards, 10% to public sales, and 10% to social. Currently, Adderrels has locked 2041 NFTs through the Ordinal Locker, accounting for 59.7% of the total. The official announcement also stated that there will be another unannounced airdrop snapshot before the BRC 2.0 launch.
LIQUID
LIQUID claims to be the first Pre-BRC 2.0 token minted on Ordinals, with a total of 50,000 pieces, each NFT representing 1000 LiQUID tokens, resulting in a total token supply of 50 million. LIQUID opened for free minting on July 25, and the current floor price is 0.000078 BTC (about $8), with a market cap of only $400,000. According to the official description, players holding NFTs can receive token airdrops without needing to stake.
Early Birds
Early Birds claims to be the first BRC 2.0 series NFT with staking functionality, with a total of 5000 pieces, and one NFT corresponds to 1000 birdie tokens, which will be airdropped after the completion of the BRC 2.0 upgrade. The current floor price of Early Birds is 0.00063 BTC, with 1877 NFTs staked, resulting in a staking rate of 37.5%. Staked NFTs can earn more token rewards.
buttmullets
buttmullets is an NFT project closely related to Adderrels, where all Adderrels staking addresses are whitelisted and eligible for future token airdrops. Due to its connection with Adderrels, it opened for minting at 0:00 on July 28, with a total of 3333 pieces, priced at 0.00012 BTC, and was quickly sold out after launch. The current floor price is 0.00058 BTC (about $60).
Griftmo
Griftmo has a total supply of 3888 pieces, with a public sale price of 0.00008 BTC, and opened for minting on July 28. This NFT is currently listed on Magic Eden, with a floor price of 0.00009 BTC, almost no difference from the public sale price, and the project has not disclosed any token airdrop opportunities related to BRC 2.0, yet it still gained interaction opportunities with Best in Slot officials.
Currently, the Pre-BRC 2.0 conceptual assets are mixed, with very low thresholds for obtaining whitelists or official interaction. Investors should participate cautiously.
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