Op.Fun: A Pump.Fun Replicant That Could Make Bitcoin Layer 1 DeFi a Reality

Op.fun is a platform powered by OP.NET, a Bitcoin Layer 1 Smart Contract Metaprotocol for DeFi, Tokens, NFTs, DAOs, and more.

Pump.fun was launched a few months back, first on the Solana ecosystem, where it became a massive success. The platform managed to garner huge revenue in a short period but did not share any of it with users. The concept was recently replicated on Tron as SunPump and it became an instant hit.

Now, a similar concept is being cooked up in the Bitcoin space — Op.fun. This could very well be the next biggest money-making opportunity on the network.

What is Op.Fun?

Op.fun is a platform that is powered by OP.NET, a Bitcoin Layer 1 Smart Contract Metaprotocol for DeFi, Tokens, NFTs, DAOs, and more. It allows anyone to create a token on the Bitcoin Layer 1 network. Any token that is launched from op.fun can be traded immediately on Motoswap.

The token creator does not have to provide any liquidity since op.fun makes use of bonding curves. These are essentially numerical algorithms that determine the price of a token in relation to its supply. As more tokens are purchased, the market self-regulates itself.

Similar to pump.fun, the bonding curve progression increases as the price goes up. When the market cap reaches a threshold, all the liquidity from the bonding curve is burned and deposited into Motoswap.

Can Bitcoin Sustain Pump.Fun-Like Traffic?

Op.fun has not garnered the enthusiasm that hit other Pump.fun versions on other chains, mainly because Bitcoin is slow. Christened “SlowFi”, DeFi experience on Bitcoin is painfully slow, with transactions taking around 10 minutes on a good day to settle.

But this may not be all bad. The slow nature of the Bitcoin network could allow users to strategize critically before investing in tokens, hence there are likely to be fewer successful rugs on op.fun.

But let’s face it; people want fast computers, phones, cars, and the internet. This is why op.fun will launch on Fractal, a Bitcoin sidechain that is built by Unisat, the leading Bitcoin DeFi and Ordinals wallet. Fractals is designed for speed with 30-second finality. Degens are going to love it.

Currently, there are 73 tokens that have been created on op.fun and the count is still rising. Op.fun has a native token called FUN, which is used to reward holders from the platform’s revenue. If interest continues in op.fun, it could attract more investors to Bitcoin, potentially raising demand and causing FUN and BTC prices to surge.

The above is the detailed content of Op.Fun: A Pump.Fun Replicant That Could Make Bitcoin Layer 1 DeFi a Reality. For more information, please follow other related articles on the PHP Chinese website!