ExtraOrdinal Daily #59 | Saturn Goes Live, Founders Go To War

27th Nov 2024 ||| Issue #59
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Table of Contents

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Todays Top Stories

Saturn Goes Live!

Bitcoin’s ecosystem has just received yet another groundbreaking upgrade with the launch of Saturn’s DEX. This innovation enables trustless automated market maker swaps and liquidity pool operations directly on Bitcoin's base layer, bringing “unparalleled speed and functionality.” Saturn aims to deliver a seamless trading experience akin to those on Solana while firmly rooted in Bitcoin's security.

Currently, the launch is limited to Bitcoin’s testnet4 beta and is not yet available on the mainnet. This testing phase gives users the opportunity to explore a novel way of trading and yield farming on Bitcoin itself. The process to get started is straightforward:

  • Download the Unisat wallet, as it’s currently the only wallet supporting testnet4.

  • Configure your wallet to use the Taproot (P2TR) address type on testnet4.

  • Obtain testnet Bitcoin from a faucet.

  • Mint testnet Runes, then dive into liquidity pools and perform swaps directly on Saturn.

The beta launch reflects the exact product that will debut on the mainnet. Traders can complete multiple swaps in a single block without waiting for the traditional 10-minute block confirmation!

With an airdrop announced for testnet participants, Saturn is incentivizing early adopters to test its system and uncover bugs. Make sure to follow the guide above to get started and secure your participation.

While Saturn’s innovation could ignite a new supercycle of adoption, Bitflow appears to be preparing its own developments also!

The next phase for Ordinals and Runes is going to melt faces!

Top Stories | Tornado Cash Wins Privacy Victory

In a win for privacy, the Fifth Circuit Court has ruled that the U.S. Treasury overstepped its authority by sanctioning the immutable smart contracts behind Tornado Cash.

The court determined that:

  • Tornado Cash’s smart contracts are immutable and not subject to control, even by their creators.

  • These contracts function as tools rather than services, placing them outside the scope of the Treasury’s authority.

  • Sanctioning the contracts did not effectively block bad actors, as the technology continues to operate on the blockchain.

The Treasury had previously added Tornado Cash to its sanctions list, citing concerns over misuse by malicious actors. However, the court found that the smart contracts—autonomous, unchangeable lines of code—do not qualify as “property” under the law, as they cannot be owned or controlled by any individual or entity.

Coinbase played a huge role in this legal battle, framing it as a defense of innovation and privacy rights.

This decision marks another step in reversing the harm caused by overly intrusive measures in recent years.

Top Stories | Founders At War: TO vs Zed

The launch of Pizza Pets has sparked drama on the TL, with accusations of copied technology leading to a public clash between its creators and critics.

However, Pizza Pets creator Trevor.btc swiftly refuted these accusations, calling them “absurd” and highlighting key differences:

  • Pizza Pets relies on a unique upgrade to the Ordinals Protocol, enabling features critical to its gameplay.

  • The concept of "modscriptions" (parent-child inscription links) has been publicly discussed for over a year and wasn’t invented by Zed Zeroth.

  • Pizza Pets’ development, including artwork and game design, predates the launch of Zed’s project by several months.

Trevor criticized the timing of the allegations, suggesting they were an attempt to capitalize on Pizza Pets' excitement and momentum.

Prominent Ordinals pioneer, Charlie Spears, has called for calm, offering a neutral perspective as a peacemaker.

When people, and more specifically—founders—start fighting publicly, this usually signals a market bottom? Right?!

Daily Bites

Todays Markets

Ordinals

The Ordinals market is looking a little more positive today after yesterday’s downturn, where 8 out of the top 10 collections were in the red.

Runestone led in volume and recorded the second-highest floor price increase, with Airheads not far behind.

Quantum Cats appear to be experiencing a significant shakeout—quite a surprising one, given its reputation as one of the most stable top collections. Even during the mini-bear market earlier this year, QC consistently held the 0.25 level and rarely dipped near 0.2 for long.

As it approaches 0.15, is this a golden buying opportunity, or will we see lower prices as holders capitulate and X influencers continue to bash the collection and Udi?

In the bottom half of the charts, the biggest gainer of the day is Bitcoin Frogs, though its floor price remains far from its ATH.

OMB is now nearing the 0.1 mark, a level that seemed unthinkable just a few months ago. This appears to be a classic case of patience running out for projects that “build in silence.”

On that note! Hello again to RSIC Metaprotocol who gains 0.2% on the day.

Runes

The Runes market failed to follow the Ordinals' lead in rebounding. Instead, it continued its decline.

Despite Runestone surging, this momentum did not carry over to $DOG, which dropped another 10% following a similar decline yesterday.

Cypher Genesis is the biggest loser of the day, shedding a massive one-third of its value in the last 24 hours!

The sole winner today is Manifest AI Tion, up 66%. It was recently confirmed to be powered by the popular AI token on Solana, ai16zdao. This development has driven its price higher, and it could continue climbing even as other projects bleed.

Tanuki Wisdom, the long-rumored scam token, continues to hold a spot in the top 10 despite ongoing allegations. Wash trading to boost volume, perhaps?

Bitcoin Bro Bear remains at the bottom of the charts, holding steady with a slight dip but still above the 10 sats mark.

Todays Opportunities

Minting This Week

No more mints for this week at its end. Come back next week to find a new list of winning minst for our ExtraOrdinal holders.

Project

Date

Price

Free Ross | Ord Road

Wednessday

0.0012 - 0.000999 BTC

Giveaways

Todays giveaways are listed below.

There are always more giveaways around the corner, so join the Discord below and make sure you have notifications on so you don’t miss out when the next ones go live!

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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!