The Problem

Gaining exposure to the Ordinal boom without the complexities of storage and access.

The rise of inscriptions and ordinals is hampered by high transaction costs, UX complexities, and liquidity challenges on current platforms.

Ordinals are inherently clunky to deal with, from minting them, to trading them, to even browsing them. Since all ordinal protocols are less than 1 year old, the space is still developing, at the downside cost of the end user's experience. Bitperp emerges as a promising solution, aiming to streamline access for these assets, by bypassing the liquidity build-up process entirely through spot and perpetual synthetics tracking the prices of BRC20, Runes, and Atomicals.

Transaction Costs and UX Complexities Challenges:

• High Transaction Costs: Minting and transferring inscriptions or trading ordinals can be expensive and slow due to the network fees associated with these operations, especially during times of high network congestion. This can deter smaller investors or those looking to experiment with the asset class.

• User Experience Complexities: The process of minting, holding, and trading inscriptions and ordinals involves interacting with the blockchain directly on sometimes unproven and partially built platforms. There exists little standard in quality.

• Poor Liquidity on Existing Platforms: Many of the platforms that currently support the trading of inscriptions and ordinals suffer from poor liquidity, making it difficult to execute trades at desired prices or within reasonable time frames. This lack of liquidity make it difficult for efficient markets to exist

Centralization Concerns:

• Reliability vs. Centralization: While centralized wallets like OKX provide a more user-friendly interface and potentially more reliable service for handling inscriptions and ordinals, they introduce centralization into an asset class that is valued for its decentralized nature. Users must trust the wallet provider's security measures, policies, and decision-making processes.

• Asset Custody and Control: Using a centralized platform means that the assets' custody is in the hands of the platform's team. Decisions regarding which inscriptions or ordinals are supported or how they can be traded are subject to the platform's discretion. This could limit the diversity and accessibility of the asset class.

• Limited Buying and Leverage Options: Currently, there are limited straightforward methods to purchase spot inscriptions directly, and options to gain leverage on these assets are virtually nonexistent. This restricts the ability of traders and investors to engage in more sophisticated trading strategies.