We have a way over due discussion with Benny, the creator of TAP/TRAC/PIPE which is the first protocol stack on Bitcoin developed to bring programmability to the Bitcoin space. We discuss Benny’s journey from a lone developer during the early days of Ordinals to now having spent the last year and a half building one of the most ecosystems on top of Ordinals. From supporting DeFi on Bitcoin L1 to making the TAP protocol suitable for cross-chain application. Benny then gives us his take on the DMT ecosystem and how it introduces many new fundamental value adds to Bitcoin, which aligns with his development approach of preserving the spirit of Bitcoin in everything he creates.
We introduce the idea of $NAT as a miner directed distributed token which will introduce a new DMT ecosystem distribution method that enables token deployments to be directly distributed to winners of the Bitcoin subsidy. This eliminates the issue of bot controlled minting of newly produced DMT assets and instead supports the security of the Bitcoin network by introducing the first additional subsidy reward for miners in the network. We feel this will align DMT more directly with Bitcoin considering the assets being produced non-arbitrarily from Bitcoin’s data substrate layer rely on preserving Bitcoin’s security and immutability.
We then discuss Benny’s overall thesis on the direction of the Bitcoin ecosystem and web3 as a whole. Arriving to a similar conclusion as ours that envisions the metaverse as the ultimate end game for all technology primitives native to web3 to intersect and apply. Also speaking on PIPE initiatives to bring a more democratized approach to AI.
Topics:
- First up, discussion with Benny’s journey from a lone developer to now having spent the last year and a half building one of the most ecosystems on top of Ordinals.
- Next, Benny gives his take on the DMT ecosystem and how it introduces many new fundamental value adds to Bitcoin
- and Finally, discuss Benny’s overall thesis on the direction of the Bitcoin ecosystem and web3 as a whole
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