I am BitRay Ray.bit, a man who embodies the passion for Bitcoin and technical insights. X (Twitter): https://x.com/bitlaser_btc

Recently, the first-generation token #METHANE of the Alkanes @oylwallet protocol has surged over a hundred times since its minting ended, with a peak market cap exceeding $36 million. Not only has the ecological market cap continuously broken new highs, but the ecological builders are also expanding, with innovative gameplay emerging constantly. The AMM is expected to launch this month, and the ecosystem is already bustling. As the strongest infrastructure provider in the Bitcoin ecosystem, UniSat @unisat_wallet has fully supported Alkanes, which has evidently become the most promising DeFi protocol in this round of the Bitcoin ecosystem.

1. Technical Breakthrough: The First Bitcoin Layer 1 Smart Contract

Alkanes is an application layer meta-protocol based on Bitcoin, aiming to achieve smart contract functionality on Bitcoin L1 through the Protorunes protocol and OP_RETURN output. It is the first protocol to go live on the mainnet, supporting decentralized application (dApp) development, such as decentralized DEXs.

2. Global Consensus: A Rare Unity Between East and West

Among the builders of Alkanes, besides the official team @taggaOyl @judoflexchop @AirheadFun and ecological infrastructure @idclubord @moffat2021, many prominent figures from both the East and West, such as @cbspears @jinmaa @t4t5 @CG_BRC20 @01573bit @R5Z5G @wangjinlon27301, are also contributing to Alkanes. With everyone's efforts, communities from both the East and West are actively participating in ecological construction, coexisting harmoniously, which is quite rare in other communities. Alkanes has unified the consensus between the East and West.

3. Market Performance: #METHANE Surges Over a Hundred Times, Market Cap Exceeds $36 Million

Although Alkanes has only recently launched and the AMM has not yet gone live, there are many tokens performing well in the ecosystem. The first-generation token #METHANE, starting with a market cap of a few hundred thousand dollars, has skyrocketed to $36 million, achieving a hundredfold increase. Tokens like #FARTANE @Fartanium, $Acai @TangataNui, and $Goji have also seen several times performance. Besides tokens, #Oyly (Oil Baby), Alkanes Pandas, and other NFTs have also shown excellent performance, with a wealth creation effect indeed present in the Alkanes ecosystem.

4. Community Unity: Committed to Promoting Alkanes

Tokens and NFTs in the Alkanes ecosystem, such as #METHANE @MethaneFund, #FARTANE @Fartanium, Alkamist @hathbanger @0xBunzy, Oyly (Oil Baby) @OylyOnAlkanes, Alkane Pandas @AlkanePandas, Bee @Alkanesbee, mostly have their own communities. Not just #METHANE, each community is working hard to promote their assets. Although they may not be as powerful as #METHANE, which has its own foundation, they are continuously building, pushing forward, and producing their own content, growing through construction and reaping rewards through growth. With the joint efforts of various communities, the Alkanes ecosystem will be pushed to new heights.

5. Highly Playable: Endless Ecological Gameplay

While Alkanes ecosystem tokens are booming, various gameplay options are also dazzling and highly playable, with some gameplay making people want to slap their thighs in excitement. Below are some summarized gameplay options:

1. $DIESEL's auction-style minting
2. $METHANE's fair contract minting
3. Alkanes Panda NFT even-numbered block auction minting
4. Oyly (Oil Baby) NFT difficulty adaptive minting
5. $Goji private pool minting
6. ClockInSystem performance art
7. $Acai's ICO smart contract fair minting
8. Orbinauts NFT supporting multi-asset minting
9. Alkamist: A new experiment in luck-based token mining
10. AP-69 (ERC-404): NFT and Token exchange contract
11. Rebar Shield: Private memory pool trading, preventing MEV + creating new income for miners
12. Silicoin: PoW mining model, similar to $ATOM

Details have been summarized previously: https://x.com/bitlaser_btc/status/1932082905725255882

6. Support from Numerous Developers: Layer 1 Foundation Builders Gather to Co-Build

Members of the Alkanes protocol @oylwallet, @taggaOyl @judoflexchop @AirheadFun, along with domo @domodata and his friends, have created the Layer 1 Foundation (L1F) @L1Fxyz. Now, more than two months after Alkanes officially launched, Layer 1 Foundation Builders are pooling their efforts to build, with participants like Omnisat @Omnisats @hathbanger @0xBunzy, and UniSat @unisatwallet @lorenzonical fully supporting the Alkanes protocol, including wallets, marketplaces, and more. In addition to Layer 1 Foundation Builders, many prominent figures such as SUBFROST @SUBFROSTio, Rebar Labs @RebarLabs, iDclub @idclubord @moffat2021, Sats Terminal @SatsTerminal, Ybot @ybot_io, MCT @mctxyz, MintAlkanes @mintalkanes, Rune Blaster @lifofifo have also supported Alkanes.

7. Impact on the Bitcoin Ecosystem: Activating the Bitcoin Ecosystem

Alkanes has propelled the Bitcoin ecosystem into the DeFi era ahead of schedule, achieving smart contracts on L1 and running dApps like DEXs and lending without the need for Layer 2. Utilizing Protorunes and OP_RETURN, the various gameplay options in the ecosystem have ignited community enthusiasm, looking forward to more disruptive interactive experiences. The emergence of Alkanes makes it possible for Bitcoin to compete with Ethereum in the DeFi field, attracting more users and institutions with its security and decentralization features.

Outlook: #Alkanes Ecosystem Market Cap Will Exceed $10 Billion

The future of Alkanes is full of potential, soon to welcome an explosion of DeFi applications such as AMM, lending, stablecoins, etc., forming a prosperous ecosystem similar to Ethereum. The launch of OylAMM will drive ecological expansion, and the liquidity of #Alkanes ecosystem tokens will significantly increase, likely surpassing the market cap of #Runes, reaching $3 billion, or even $5 billion, $10 billion, and listing on top exchanges like Binance @binance, OKX @okx. Its hundredfold growth potential, supported by the Bitcoin DeFi boom, is not out of reach. Coupled with global consensus and diverse gameplay, Alkanes has become the most promising DeFi protocol in the Bitcoin ecosystem, with market performance and community enthusiasm further validating its value. It is expected to continue to explode in the future, driving Bitcoin DeFi into a new era. Whether developers, investors, or community members, Alkanes provides a stage full of opportunities. Let us look forward to the Bitcoin Summer ignited by Alkanes, bringing more surprises and possibilities to the Bitcoin ecosystem!

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