Author: Golem, Odaily Planet Daily
RGB++ is an extension protocol based on RGB, which technically uses one-time sealing strips and client verification to manage state changes and transaction verification. Unlike the RGB protocol, which requires users to run client verification for transactions, RGB++ maps Bitcoin UTXOs to Nervos CKB Cells through homomorphic binding, directly using Nervos CKB as the DA layer. Although it sacrifices some privacy, it brings Turing-complete contract extensions and performance extensions to Bitcoin without the need for cross-chain and without compromising security.
Due to its superior design and the market FOMO triggered by the first asset Seal issuance, even in a blank ecosystem, the April Hong Kong conference seemed to become the preaching venue for the RGB++ protocol, as people were afraid of missing the future wealth train of RGB++. However, time has passed, and in just one month, the heat of the RGB++ protocol is no longer as intense as before, with the leading asset Seal's floor price dropping by more than 70% from its peak, and trading volume shrinking.
Whether the RGB++ protocol is a flash in the pan or accumulating strength in the trough, the degree of ecological construction is the best test standard. The following Odaily Planet Daily will take stock of RGB++ ecological projects from the perspectives of wallets, DEX, infrastructure, entertainment, tools, etc., in order to present the current development status of the ecosystem after the protocol goes live.
Wallets
JoyID
JoyID is a multi-chain, cross-platform wallet built on Nervos CKB. It allows users to create and use wallets using biometrics without the need for passwords or mnemonic phrases. It is also the first wallet to support RGB++ assets, allowing users to transfer RGB++ assets on the Bitcoin mainnet and trade RGB++ assets on the second layer of Nervos CKB using its built-in DEX.
REI Wallet
REI Wallet is a native Nervos CKB browser extension wallet, which is now also compatible with the RGB++ protocol. A testnet version was released on April 25th, and although it currently supports the mainnet, it is reportedly still in testing.
DEX
HueHub
HueHub is the first launch platform and decentralized exchange based on RGB++ assets on the Bitcoin mainnet. Users can fairly issue and mint RGB++ assets on the platform and trade them on the mainnet. HueHub supports mainstream Bitcoin wallets such as JoyID, Unisat, and OKX.
Omiga
Omiga is the first decentralized exchange based on RGB++ assets on the second layer of Nervos CKB. Originally part of the Nervos CKB-based Inscription project, it chose to build for the RGB++ ecosystem when the protocol became popular. The platform currently supports batch sweeping functionality.
Nomadland
Nomadland is a Bitcoin service provider that supports RGB++ assets. It has mainly developed a trading market for RGB++ assets, and the AMM swap function is expected to go live in mid-May. Nomadland has also developed an RGB++ plugin wallet, supporting free bidirectional leaps of RGB++ assets between the BTC mainnet and the second layer of Nervos CKB.
UTXOSwap
UTXOSwap is a decentralized exchange (DEX) protocol based on the BTC ecosystem, aiming to provide users with a better trading experience through intent-based trading. Its main features include integrating the advantages of order book and AMM, higher trading efficiency, and lower transaction gas fees. UTXOSwap will initially support the trading of RGB++ and CKB ecosystem assets, and future plans include support for other BTC ecosystem assets such as Ordinals and Runes. However, it has only released a white paper and is expected to conduct public testing at the end of May.
Infrastructure
UTXO Stack
UTXO Stack, launched by the blockchain software development company CELL Studio, is a RAAS (Rollup as a Service) in the Bitcoin ecosystem, similar to OP Stack in the Ethereum ecosystem. It can help developers issue BTC Layer2 based on the UTXO architecture with one click. It is also natively compatible with the RGB++ protocol, allowing assets to seamlessly transfer between BTC and homomorphic UTXO chains without the need for cross-chain bridges. It also incorporates the Restaking concept proposed by EigenLayer, which can secure the homomorphic chain by pledging assets such as BTC and CKB.
UTXO Stack has completed its seed round of financing, led by ABCDE Capital and SNZ Holding, with participation from OKX Ventures, Waterdrip Capital, and others, with the amount undisclosed.
Stablecoin
Stable++
Stable++ is the first stablecoin issued based on the RGB++ protocol with over-collateralization, issuing the stablecoin USDPP by over-collateralizing BTC and CKB. Leveraging the Leap feature of the RGB++ protocol, USDPP can freely circulate on the Bitcoin blockchain and other UTXO homomorphic chains. The Stable++ team members mainly come from Google, Stanford University, University of California, Berkeley, and have also received investment from the CKB Eco Fund.
Entertainment
World3
World3 is a Bitcoin autonomous world based on the RGB++ protocol and Digital Objects (DOB). World3 will use the Bitcoin mainnet as the asset control layer for digital objects, and Nervos CKB as the DA layer and smart contract layer for digital objects, bridging Bitcoin and other ecosystem chains.
The team plans to airdrop DOB on the BTC mainnet and gradually open interactive test scenarios based on DOB. World3 has previously raised $6 million in funding, with participation from companies such as Animoca Brands, Dapper Labs, EVG, and Com2uS.
SilentBerry
SilentBerry is a Web3 digital music distribution platform based on the RGB++ protocol, providing a one-stop ecological service for the issuance, investment, and profit distribution of digital music assets. The FT asset $Berry will be issued on the BTC mainnet with a total supply of 66 million, with each unit being 10,000 $Berry, totaling 6,600 units. NFT assets will be issued on Nervos CKB and other blockchain ecosystems.
The product is not yet live and is expected to be officially launched on the SilentBerry platform in May or June.
DID
.bit
.bit is a decentralized identity protocol under d.id, which announced its support for the RGB++ protocol on April 15, enabling .bit to operate on the BTC network. .bit currently supports binding and resolution of Bitcoin addresses, allowing direct transfer of Bitcoin and RGB++ assets through .bit. Additionally, .bit plans to create a multi-chain DID, based on the Bitcoin blockchain, spanning other chain ecosystems.
Governance
Metaforo
Metaforo is a well-established decentralized community governance protocol founded in 2021, which announced its support for the RGB++ protocol on May 9. Users can participate in decentralized community governance using CKB or RGB++ assets, for voting or snapshots, etc. The first asset on RGB++ $seal is the first to be integrated into the Metaforo protocol for governance in the RGB++ community.
Tools
CKB Explorer
CKB Explorer is a browser for the Nervos CKB blockchain, providing information on the Nervos CKB network operation data and supporting the viewing of RGB++ assets and related transactions.
Haste
Haste is a community-developed RGB++ asset manager, allowing the transfer of RGB++ assets for wallets that do not support the RGB++ protocol, such as OKX Wallet, Unisat, etc.
Conclusion
In summary, despite the decline in market heat, the RGB++ ecosystem construction has not stagnated, with key components such as wallets, DEX, and infrastructure steadily being developed. From the launch of the protocol concept in February to the mainnet launch in April, several projects have emerged to fill the gaps in its ecosystem in just a few months, which is relatively rapid development in the context of the numerous asset protocols in the Bitcoin ecosystem.
However, the RGB++ protocol is not without controversy, with some community members criticizing its reliance on the RGB protocol concept and its excessive dependence on Nervos CKB. RGB protocol founder Maxim Orlovsky has also written about the lack of any relationship between RGB++ and RGB.
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