BRC2.0 交易体验与简要路线图

We released BiS DEX v1 just 24 hours ago — the first DEX built for BRC2.0. Despite a few minor bugs and overloaded servers due to high demand, trades have been executing reliably, no user funds were lost, and over $200K volume has been settled successfully.

Advantages of BiS DEX over BRC20 and Runes Trading

• No need to split UTXOs or inscribe transfer inscriptions.
• Partial fills supported.
• Snipe protection enabled.

Current Limitations

• Listing and delisting events require 1 block confirmation, which becomes costly and time-consuming, hurting the trading experience.
• Market Buy orders require 4 signatures and Limit Sell orders require 2 signatures and both events require 1 block confirmation.
• Trading speed is still limited with a 10-minute block time.

Although similar limitations apply to all Bitcoin L1 trading, we have many solutions and improvements being developed for a smooth trading experience, leveraging the programmable nature of BRC2.0.

What’s Next?

• Instant Orders – removing the transaction requirement for listing and delisting, removing miner fees for these actions and greatly speeding up the process. ETA 4 - 8 weeks.
• Trustless Bids and New Order Types – BiS DEX currently supports "Market Buy" and "Limit Sell" orders. We will progressively introduce Bids, "Limit Buy", "Market Sell", Stop Orders and more, to provide a more mature trading environment for BRC20 and BRC2.0 tokens.
• AMM Integration*

In addition to new features and performance improvements, we are constantly improving the UI, UX and educational content for all traders.

Wen AMM?

AMMs on Bitcoin L1 face unique challenges. Ten-minute blocks expose users to MEV and various other attacks. It is also likely to have failed transactions and waste BTC as miner fees.

Despite the above challenges, a couple of AMM products such as @CatSwap are expected to hit the mainnet in a couple of weeks. As the BiS team, we are helping these teams with their products and the initial results are very good. However, we’d like to underline that the first wave of AMM dapps should be considered as “experimental”.

A more sophisticated solution is “Sequencer powered AMM” which is 100x superior to basic AMMs. This approach eliminates MEV threats and enables Solana-level trading speeds. We already have a talented team of engineers working on sequencer solutions; however this is a much more complex product, therefore it may take 1 to 3 months to be released on Bitcoin mainnet.

Lastly, a wrapped BTC is another critical piece of the puzzle. Without it, AMMs can only support token-to-token pools, not token-to-BTC. Once Phase II of the BRC2.0 upgrade enables 4–5 byte tickers, token-to-ORDI pools also become possible.

Wrapped BTC & Stablecoins

To unlock the full potential of DeFi dapps, a wrapped BTC is essential. Native BTC works for CLOB trading, but AMMs and advanced protocols require a wrapped standard.

We believe in the power of BitVM and in active communication with Lombard LBTC, Citrea cBTC and a couple other providers. We are also exploring integrations with meta-protocol-native solutions such as @Subfrost. While we can’t give exact timelines, we expect a robust wrapped BTC solution in 1-2 months.

Stablecoins will also be key. They provide reliable trading pairs and, together with wrapped BTC, lay the foundation for deeper liquidity and more efficient capital flows. Timelines are less clear here, but efforts are already underway to bring reputable stablecoin products onto Bitcoin through BRC2.0.

Conclusion

BRC2.0 has been live on mainnet for 48 hours, and this is only the beginning. We will keep building, keep improving, and keep shipping Bitcoin dapps.

The momentum is real. Over the past two years we’ve delivered on our promises, and we have much more to contribute to BRC20 and Bitcoin ecosystem.

Thank you for all your feedback and support, BiS Team