ORDI

Purpose and Utility

ORDI is the native token of the Bitcoin Ordinals protocol, launched in 2023. Ordinals allows for the inscription of digital content directly onto individual satoshis (the smallest unit of Bitcoin), enabling NFT-like functionality on the Bitcoin blockchain. The ORDI token itself represents the first fungible token created through the Ordinals protocol.

Business Model and Current Usage

The primary utility of ORDI comes from its role in the Ordinals ecosystem, where it serves as both a governance token and a means of value transfer within the Bitcoin NFT marketplace. The protocol enables direct ownership and transfer of digital assets on Bitcoin's base layer, without requiring additional layer-2 solutions.

Real-World Adoption

The Ordinals protocol has seen significant adoption since its launch, with millions of inscriptions created. Trading volumes for ORDI have been substantial across various cryptocurrency exchanges, indicating active market participation. The project has sparked considerable development activity within the Bitcoin ecosystem, leading to new tools and platforms for creating and trading Ordinals.

Platform Development

The underlying technology builds directly on Bitcoin's protocol, making it inherently decentralized. There is ongoing development of infrastructure around Ordinals, with multiple teams building marketplaces and tools to support the ecosystem.

Token Distribution

ORDI tokens were distributed through a fair launch mechanism, with no pre-mine or founder allocation. This approach aligns with principles of fairness and transparency in token distribution.