The Runes marketplace and launchpad Odin.fun will replicate Pump.Fun - CoinJournal

• fun is set to replicate Pump.fun on Bitcoin.
• fun aims to offer a 20-second finality for Rune trades.
• The platform will be decentralized with no central control.

The highly anticipated Runes marketplace and launchpad dubbed Odin.fun is set to revolutionize the Bitcoin ecosystem by emulating the success of Solana’s Pump.fun.

Developed by the team behind the Bitcoin ordinals marketplace Bioniq, Odin.fun aims to provide a seamless experience for Bitcoin users interested in Runes, a new token standard on the Bitcoin blockchain.

Direct integration with Bitcoin Runes

Odin.fun stands out by directly working with the existing Runes meta-protocol, ensuring there’s no need for additional upgrades or programmability. This approach not only simplifies the user experience but also maintains the integrity of the Bitcoin network.

Users can engage in buying, selling, creating, and swapping Runes with transactions finalized in just 20 seconds, offering the speed of Solana with the robustness of Bitcoin.

Moreover, all bonded tokens can be withdrawn directly back to a user’s Bitcoin wallet at any time, with plans to expand support to BRC-20 tokens in the near future.

The platform’s commitment to decentralization is evident through its use of a threshold signing setup (TSS) for securing Bitcoin and Runes deposits, mirroring the strategies used by other decentralized systems.

By employing multisig smart contract control, Odin.fun eliminates the need for centralized custodians or control, thus providing a trustless environment for users to trade and interact with Runes.

Redefining Layer 2 on Bitcoin

Bob Bodily, co-founder and CEO of Bioniq, describes Odin.fun not as a traditional Layer 2 solution but as an appchain or an L2 in the broader sense of building seamless Bitcoin products.

This innovative perspective allows Odin.fun to offer functionalities akin to Layer 2 solutions without the complexities often associated with them on Bitcoin. The underlying technology stack, named Valhalla, operates invisibly, supporting all current and future features of Odin.fun.

Odin.fun’s capabilities are further enhanced through its integration with BLIFE, a platform designed to enrich user experiences across various blockchain applications. This integration means that BLIFE users receive exclusive benefits on Odin.fun, can complete Odin-related quests on the BLIFE platform, and their achievements on Odin.fun contribute to their BLIFE reputation.

This synergy promises to not only boost user engagement but also foster a more interconnected blockchain ecosystem.

When is Odin.fun launching?

Currently, Odin.fun is in an early access beta, requiring an invite code for participation. However, this exclusivity will soon end as the platform prepares for a public launch on Monday, February 3, 2025, making it accessible to everyone interested in exploring the potential of Bitcoin Runes.

The launch is anticipated to democratize access to the burgeoning Runes market, potentially replicating the meme coin frenzy seen with Pump.fun on the Solana network.