Taproot Wizards Co-creation announced the launch of Bitcoin native token protocol CATNIP

Udi Wertheimer, advocate of OP_CAT and co-founder of Taproot Wizards, expressed on his social media platform that the user experience of BRC-20 and Runes has disappointed most crypto enthusiasts. The Bitcoin consensus (Bitcoin nodes and miners) does not recognize their existence. Udi stated that the new Bitcoin native token protocol CATNIP based on OP_CAT recursive contracts can solve the above problems. According to reports, CATNIP allows markets to partially fill orders without users having to split UTXO in advance; they only need to purchase the required amount of tokens. It allows bidding where users can say they want to buy a certain amount of CATNIP at a certain BTC price, then let one or more sellers complete the transaction. As such, this protocol will even allow for on-chain L1 AMM and liquidity pools. Due to slow blocks in Bitcoin and other issues related with transaction relay strategies, Udi believes L1AMM won't provide a good experience but CATNIP will also allow fast and secure off-chain AMMs (for example using CatVM). It is reported that CATNIP is under development and being tested; when OP_CAT goes live on the Bitcoin mainnet, the team will launch this protocol.