ExtraOrdinal Daily #30 | Where Did It All Go Wrong!?

23rd Oct 2024 ||| Issue #30
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Table of Contents

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Todays Top Stories

Sniping is DEAD! Long Live the Mempool!

With Magic Eden recently dominating the spotlight with talk of its upcoming innovations for Runes, earlier today Satflow made a surprise move by officially launching its platform. Bringing a fresh way to trade Bitcoin Ordinals and Runes, With this, Satflow is injecting some much-needed competition into the market—and users are already taking notice!

What makes Satflow different? Is this just another platform? Satflow taps directly into Bitcoin’s mempool, providing users with real-time data and live access to trades. This makes it possible to snipe, counter-snipe, and bid on multiple collections with ease.

Users are also praising the platform’s sleek design, with many commenting that the interface feels "cleaner" and more user-friendly than Magic Eden’s. Beyond just aesthetics, Satflow functions as an aggregator, pulling in data across various collections, making it easier to see the bigger picture in one place.

Plus, just to frontrun Magic Edens diamond airdrop too, Satflow has introduced Pre-Season 1 Flux points for a limited time. Anyone who’s been trading Ordinals and Runes this year can claim these points over the next two weeks, with Flux Season 2 kicking off immediately after and running until January 15th.

A key part of the launch is the integration of Xverse, Satflow’s recommended wallet. This partnership promises a seamless and secure trading experience. According to Robert Clarke, one of Satflow’s founders.

Daily Alpha | $TAP Airdrop is Live and Trading!

The long-awaited $TAP token officially launched today at 12:00 UTC, with 17,000 eligible wallets receiving airdrops. As part of the Bitcoin-based TAP Protocol, $TAP allows users to trade, mint, and swap assets directly on Bitcoin’s L1, without relying on riskier layer 2 solutions.

Eligible participants don’t need to do anything to receive their airdrop, which includes holders of the Trac and Pipe tokens from previous snapshots, along with those involved in Coinlist or the SquirrelLoot campaign. Holders can check their allocation by inputting their recieveing taproot address at tapalytics.xyz.

$TAP is now available on major exchanges like Gate.io, MEXC, and KuCoin. Additionally, TaparooSwap’s upcoming DEX on Bitcoin will allow $TAP to be traded without wrapping or using layer 2 networks.

If you’re looking to offload and cash in some of that airdrop, your best option is to use SatsX to move your $TAP tokens between wallets and centralized exchanges.

Alternatively, you can also swap on the Ethereum network as an ERC-20. Details on how to do so can be found in the thread below:

Daily Alpha | Rodarmor Rune Ruffles Feathers

Casey Rodarmor, our glorious leader, dropped a new Rune yesterday—MEMENTO•MORI, and it's already causing quite a stir.

Feathers were ruffled when it was revealed that half of the supply had been premined. Further, jimmies were rustled when word got out that the premine would be airdropped to supporters of the Hell Money Pod’s Patreon. This sparked a frenzy, with hundreds rushing to register, crashing the system, and many Patreon accounts getting flagged for suspicious activity. The remaining supply will be available through a public mint starting at block 868186, roughly 10 days from now.

The mint is expected to take up to 8-9 blocks, with around 50,000 transactions to finalize everything. With all the hype, FOMO is already in full swing, so if you’re looking to mint, get your UTXOs ready and make sure you’re using a platform that supports RBF.

In all likelihood, the mempool is going to get absolutely obliterated during this mint. A good strategy is to avoid minting right away. Instead, wait for a fee rate standard to emerge, then set your fee rate significantly higher than the average. However, even with this approach, things can still go wrong, so be prepared for potential issues.

Unchained Art | Todays Editors Pick

Daily Bites

Todays Markets

Ordinals

Floors are free-falling, and volume continues to drop. So, where did it all go wrong!? Some might say this is just a natural pullback after weeks of steady, upward movement. Others might argue that 0.13 BTC for a Bitcoin Puppet or NodeMonke is nearing the bottom, based on past trends.

Let’s give it another shot—here’s hoping for a better day tomorrow!

Runes

One Rune stood out today: the freshly minted Oozy Goozemo, yet another spin-off tied to Bitcoin Puppets. While unofficial and unaffiliated, the ecosystem around Puppets keeps expanding, raising concerns about oversaturation. Oozy launched at a tough time for the market, so it'll be interesting to see if it holds up.

Elsewhere, Pooka dropped 36% after some prominent OMB holders caused a stir by refusing to recognize the collection as legitimate. Meanwhile, Gizmo, despite its listing on MEXC, fell 26% on the day.

Todays Opportunities

ExtraOrdinals Whitelisted mints this week

Another week, another long list of hyped mints for our ExtraOrdinal giveaway winners! If you won, and you’re feeling bullish, load up those wallets but always stay safe while minting!

Project

Date

Price

Moonray Game

Wednesday

Free

$TAP TDE

Wednesday

-

Bitavatarz

Thursday

-

Ordzaar Launch

Thursday

-

Insurgence by Debauchery

Thursday

0.001869 BTC

Giveaways

Beyond Tech (GTD) - Ends on Wednesday 23rd at 22:10 UTC

Join the Discord below and make sure you have notifications on so you don’t miss these or any of the future giveaways!

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Nothing in this or any other ExtraOrdinal Daily publication should be construed as financial or investment advice.

We trust this ExtraOrdinal Daily provided you with the information, insight and opportunities needed to have an ExtraOrdinal day! If you have any questions, suggestions, or a desire to contribute, reach out in the ExtraOrdinals Discord!

See you tomorrow!