SoBit: The very first cross-chain bridge, Bridging BRC-20 and Solana
Introducing SoBit
With Solana on the rise and Bitcoin introducing Ordinal NFTs and BRC-20 tokens, it’s the perfect time to link the two networks.
That’s why we’ve launched SoBit, a capital-efficient cross-chain platform linking BRC-20 tokens to Solana’s SPL-20 tokens — and, eventually the broader Web3 world. This will enable BRC-20 holders to access the broader DeFi ecosystem on Solana and eventually Ethereum.
SoBit’s Mission
Bitcoin is by far the largest ecosystem in Web3, with a TVL of $841 billion, 3x larger than Ethereum’s. But Solana has been tearing up the charts, shooting up to #4 after it’s token price rise from a low of $11 to over $95.
But, the recent “Solana” season has seen the price of $SOL surge and also witnessed a rise in new tokens being launched on the network. Linking BRC-20 tokens on Bitcoin with SPL20 tokens on Solana will hugely benefit both ecosystems. It will give BRC-20 token holders access to a more mature and diverse Defi ecosystem and potentially bring more liquidity to Solana at the same time.
By bringing BRC-20 tokens to DeFi, SoBit is creating a more unified Web3 ecosystem, unlocking an ocean of crypto-native liquidity for the future.
SoBit’s Launch Process
There will be two token sale events to launch SoBit.
A private token sale event for whitelisted addresses and a public round. The public round will offer tokens at the same price as the private one, so there is no unfair advantage. Additionally, the whitelisted addresses will belong to KOLs who can help ensure a successful launch of the protocol and help it gain wide recognition.
Each is set to raise 50% of the liquidity needed to operate the BTC and SOL pools necessary to power the protocol. Trading will immediately be available after the fair launch is complete.
More details will be released with the beta launch of the protocol around December 19th, 2023.
Project Roadmap
2023 Q4
- Complete testing and auditing of the cross-chain verification functionality
- Invite early users for testing
- Launch SoBit v1 using the Soar Launchpad to allow users to bridge BRC-20 assets to Solana
2024 Q1
- Launch v2, consisting of a new front end for improved UI/UX
- Introduce an automatic routing function and real-time updates of support for new BRC20 assets on the platform.
- Introduce a native cross-chain Swap function
- On-board new Solana ecosystem DeFi partners
- Launch liquidity pools for staking pools for BRC20 assets
2024 Q2
- Collaborate with more Solana-based DeFi protocols (DEX, lending, derivatives, etc.), gaining native trading support
- Establish a BRC-20 application alliance in the Solana ecosystem, building more BRC20-targeted applications
2024 Q3
- Launch a new BRC20-compatible SLP inscription protocol standard
Tokenomics
$SOBB total supply: 1,000,000,000
* 72% fair launch
* 8.25% private sales to influencers
* 8.25% liquidity and yield
* 6.5% ecosystem building
* 5% team with 6 months lock and 18 months linear vesting
SoBit’s Social Media
About SoBit Bridge
The SoBit Protocol stands as a pioneering solution in the blockchain space, designed to seamlessly bridge BRC20 tokens with the Solana network. This innovative protocol not only facilitates the transfer of tokens but also significantly enhances the liquidity and utility of BRC20 tokens within the expansive Solana ecosystem.
