{"id":"omnisat","version":1,"language":"en","title":"OmniSat","hidden":false,"content":"**OmniSat** is a community-driven organization built to design solutions for Bitcoin Native [DeFi](https://iq.wiki/wiki/defi) Primitives and it was launched on May 18, 2023. [\\[1\\]](#cite-id-ovorrnfw9yl)[\\[2\\]](#cite-id-pwizve16xj)  \n![image](https://ipfs.everipedia.org/ipfs/QmRVN8r7JxPdK1fb3T2BvbNRkPZS1X27m13cttkpVZp88y)  \n  \n# Overview  \n  \nThe OmniSat platform[\\[2\\]](#cite-id-pwizve16xj) allows users to swap [BRC-20](https://iq.wiki/wiki/brc-20) tokens. OmniSat’s Bitcoin native approach is designed for composable solutions. OmniSat privatives create network efforts that enable many varieties of [decentralized finance](https://iq.wiki/wiki/defi) markets built on [Bitcoin](https://iq.wiki/wiki/bitcoin). [\\[4\\]](#cite-id-i4d3t37234)  \n  \nOmniSat’s products and primitives are designed around protocol-owned liquidity concepts. Protocol-owned liquidity enables reward guarantees. In times of market distress when liquidity is most needed, it’s protected by bond terms, which effectively protect markets from death spirals initiated when yield-chasing mercenary capital is pulled resulting in risk. [\\[4\\]](#cite-id-i4d3t37234)  \n  \n# BRC-20  \n  \n[BRC-20](https://iq.wiki/wiki/brc-20) tokens were launched by an anonymous developer named domo on March 9, 2023. The tokens are built on [Bitcoin](https://iq.wiki/wiki/bitcoin) and use an experimental standard to create fungible tokens. Unlike token standards on EVM [blockchains](https://iq.wiki/wiki/blockchain). BRC-20 tokens do not rely on [smart contracts](https://iq.wiki/wiki/smart-contract). Instead, users can store a script file on [Bitcoin](https://iq.wiki/wiki/bitcoin) and use it to assign tokens to individual satoshis using Ordinal Theory[\\[3\\]](#cite-id-3q5e81863mq). [\\[5\\]](#cite-id-8c83oiuaje7)  \n  \nBRC-20 tokens utilize JSON data embedded in ordinal inscriptions, allowing for token deployment, [minting](https://iq.wiki/wiki/minting), and transfer. [\\[5\\]](#cite-id-8c83oiuaje7)  \n  \n> “This is just a fun experimental standard demonstrating that you can create off-chain balance states with inscriptions. It by no means should be considered THE standard for fungibility on bitcoin with ordinals, as I believe there are almost certainly better design choices and optimization improvements to be made.” — domo  \n  \n# Primitives  \n  \n## Bitcoin Based Automated Market Maker (BBAMM)  \n  \nDigital assets that are stored in a BBAMM [liquidity pool](https://iq.wiki/wiki/liquidity-pool) are able to be traded against by traders. [Liquidity providers](https://iq.wiki/wiki/liquidity-providers) store digital assets in a liquidity pool by depositing proportionate BRC-20 tokens into a given liquidity pool, based on Ticker, where [liquidity providers](https://iq.wiki/wiki/liquidity-providers) take on price risk and are compensated with trading fees. [\\[6\\]](#cite-id-pkzlnpya3bm)  \n  \n## BTC-20  \n  \nBTC-20 enable BRC-20 tokens to be used in [DeFi](https://iq.wiki/wiki/defi) by making them compatible with a BTC familiar. [\\[6\\]](#cite-id-pkzlnpya3bm)","summary":"OmniSat is a community-based platform launched in 2023, designed to create decentralized finance markets using BRC-20 Tokens on Bitcoin with an emphasis on prot...","categories":[{"id":"organizations","title":"organizations"}],"promoted":0,"tags":[{"id":"Organizations"}],"metadata":[{"id":"references","value":"[{\"id\":\"ovorrnfw9yl\",\"url\":\"https://twitter.com/omnisats\",\"description\":\"twitter page\",\"timestamp\":1689146637081},{\"id\":\"pwizve16xj\",\"url\":\"https://www.omnisat.io/\",\"description\":\"website\",\"timestamp\":1689146646268},{\"id\":\"3q5e81863mq\",\"url\":\"https://docs.ordinals.com/overview.html\",\"description\":\"ordinal theory\",\"timestamp\":1689147941477},{\"id\":\"i4d3t37234\",\"url\":\"https://docs.omnisat.io/\",\"description\":\"omnisat documentation\",\"timestamp\":1689149191137},{\"id\":\"8c83oiuaje7\",\"url\":\"https://docs.omnisat.io/Learn/What_is_BRC_20\",\"description\":\"brc-20 token about\",\"timestamp\":1689149240672},{\"id\":\"pkzlnpya3bm\",\"url\":\"https://docs.omnisat.io/Primatives/BBAMM\",\"description\":\"bbamm\",\"timestamp\":1689149267145}]"},{"id":"website","value":"https://www.omnisat.io/"},{"id":"twitter_profile","value":"https://twitter.com/omnisats"},{"id":"github_profile","value":"https://github.com/omnisat"},{"id":"commit-message","value":"correction"},{"id":"previous_cid","value":"QmbgCJBhzC6kazFo8bxBrV3U41eKUC6DbGaLHmuNNYenQz"}],"user":{"id":"0x14B68b85E1037d1C75726b7794e99C20554f9CC3"},"author":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb","profile":{"username":"zainab","avatar":"QmPabyQDLVgKZJN8NQF9EixdgWo3JvLn7gnAWdVkETgMyu"}},"media":[{"name":"image","id":"QmRVN8r7JxPdK1fb3T2BvbNRkPZS1X27m13cttkpVZp88y","size":"0.04","type":"GALLERY","source":"IPFS_IMG"}],"views":22,"events":[{"title":"Date Founded","description":"Omnisat was launched on May 18, 2023","type":"CREATED","date":"2023-05","link":"https://twitter.com/Omnisats/status/1659268876134129664"}],"ipfs":"QmbgCJBhzC6kazFo8bxBrV3U41eKUC6DbGaLHmuNNYenQz","transactionHash":"0x46db74f581f7c0e2547d190d00baab1588a3632e9a9d99d9104c6230be3df6e7","created":"2023-07-12T08:15:33.755Z","updated":"2023-07-13T02:04:44.270Z","images":[{"id":"QmaiEsYdhHdVUGfm3ysbtXjR3jBcGX7C5RHLcpWsSfNEL2","type":"image/jpeg, image/png"}],"linkedWikis":null}