Meme, as defined by “having the characteristic of rapid spread,” is quickly spreading across various segments of the crypto ecosystem like wildfire: from celebrity effects, and U.S. elections, to truth terminals, zoo meetings, and every day when we open our eyes (or sometimes not even enough time to sleep), a new day’s Meme narrative hits us.

As BTC breaks through the $100,000 historical threshold, the enthusiasm for the long bull market is reignited, and some have already started to notice: in the current time where everything can be a Meme, Bitcoin Meme seems to be the overlooked corner of attention.

Some might say that the majority of Bitcoin holders’ awareness still seems to remain at “Hold,” but the unprecedented “National Engraving” boom in 2023 has already shown us the community’s passion for participating in the Bitcoin ecosystem.

Others might argue that Bitcoin’s scalability limitations and lack of smart contract support make it unsuitable for supporting Meme asset issuance and high-frequency PvP. These concerns are evidently somewhat outdated. As infrastructure has become the main theme in this cycle of the Bitcoin ecosystem, many projects aiming to realize Bitcoin’s native programmability have emerged. Bbabylon made a grand entrance, bringing staking narratives, CKB steadily realized scalability, and Bitcoin now certainly has the potential to support more complex ecosystems.

So, under these preconditions, is Bitcoin Meme truly the next battlefield for attention? From the market situation, the core builders of the Bitcoin ecosystem have already moved into action: in addition to Merlin Chain proclaiming its goal to become the “core power of Bitcoin Meme,” CKB, as a highly regarded Bitcoin Layer 2 protocol and the proposer of the RGB++ concept, has launched its Meme asset platform, CKB.FI, making many people highly expectant about Bitcoin Meme’s future direction.

This article aims to delve into the essence of the Meme craze and explore Bitcoin Meme’s prospects and the key role RGB++ plays in driving Meme to become a traffic entry point in the Bitcoin ecosystem by comparing these core factors with the Bitcoin ecosystem.

Grasping the Essence of the Issue: Why Does the Meme Narrative Last So Long?

According to CoinGecko, the current market cap of the Meme track has exceeded $130 billion. Taking the Solana-based Meme issuing platform Pump.fun as an example, in the eight months since its official launch, Pump.fun has deployed over 4 million tokens and accumulated more than $368 million in transaction fees.

Meme is undoubtedly hot, and no further words are needed. But no market trend with a market cap of hundreds of billions arises by chance. What is truly worth exploring behind Meme’s popularity is: that when we engage with Meme, what exactly sparks our enthusiasm?

In essence, Meme is an asset class, but unlike other assets, Meme’s unique charm stems from the Web2 internet culture and Web3 decentralized rebellion spirit layered onto it. This creates its distinctive appeal:

Cultural Attribute: Eye-catching New Narratives

Meme’s infectious power doesn’t stem from grand narratives. It’s more like a dark humour film that focuses on the underlying issues, using humorous, fun, and easy-to-digest expressions like “memeing,” self-deprecation, and irony to critique the status quo, capturing attention and resonating with users emotionally.

Spreadability Attribute: Viral Spread Based on Community and Social Media

Meme’s highly symbolic content form gives it a notable advantage in spreading, and Memes rooted in communities naturally benefit from spontaneous promotion by strong communities, enabling Meme to spread globally at viral speed. Compared to traditional assets, Meme is community-driven, and this decentralized spread is both efficient and highly penetrating.

Fairness Attribute: A Perfect Embodiment of the Decentralized Spirit

The birth of blockchain originated from a rebellion against centralized financial institutions. In this cycle, where VC Tokens have repeatedly disappointed secondary market investors, Meme’s issuance and circulation entirely rely on community consensus. This decentralized characteristic makes Meme more in line with the Web3 spirit and is seen as an expression of the community’s resistance to VCs.

Trading Attribute: Exciting PvP Battlefield with Both Risk and Opportunity

Meme’s high volatility brings risks but also huge potential profit opportunities for investors. In the thrilling PvP battlefield, traders’ sharp market insights and decisive trading decisions are put to the test. Amid the many wealth-building myths, countless people dream of being the next protagonist in a rags-to-riches story.

By analyzing Meme’s core attributes, the cultural infectiousness, viral spread, decentralized spirit, and immense potential returns behind Meme’s craze emerge. Clarifying the underlying logic of Meme breaking out of the mainstream provides a clearer framework for analyzing Bitcoin Meme’s advantages and exploring its potential.

An Overlooked Corner of Attention: Why Should You Focus on Bitcoin Meme?

In terms of cultural depth, few crypto ecosystems can compete with Bitcoin. As the pioneer of cryptocurrencies, Bitcoin is like the Jerusalem of the crypto world, symbolizing decentralization, freedom, and a challenge to the traditional financial system. It represents the belief and values of decentralization.

With its grand 16-year development history, Bitcoin has not only provided countless Meme materials but has also attracted countless geeks, tech enthusiasts, and investors, forming a unique and vibrant cultural circle. Whether it’s the mystery of Satoshi Nakamoto, the 5.22 Pizza Day, or Bitcoin enthusiast Trump, the concentrated memes in the Bitcoin ecosystem always bring a knowing smile.

As for its communication properties, there is likely no cryptocurrency ecosystem with global influence that can rival Bitcoin. According to on-chain data, the number of Bitcoin wallet addresses has surpassed 500 million, with over 50 million wallets holding assets worth at least $1. In the traditional world, several companies, including Tesla, Microsoft, Starbucks, and more, have supported Bitcoin payments. Furthermore, over 60 publicly listed companies have followed in the footsteps of MicroStrategy in adopting Bitcoin strategies. With Bitcoin’s price continuously breaking new highs in November, the search and discussion volume about Bitcoin on mainstream social media platforms like Twitter, Weibo, and Google have all surged.

These data points all demonstrate Bitcoin’s immense global appeal and widespread adoption, with its large and active community undoubtedly laying a solid foundation for the development of Bitcoin-based memes. It can be said that the Bitcoin ecosystem has very favourable innate conditions for meme development, and in fact, Bitcoin and memes have a long history.

Looking further back, the meme veteran Doge, which gained massive popularity in 2021 with even subway aunties talking about it, was inspired by Bitcoin. In 2013, Adobe software engineer Jackson Palmer and IBM software engineer Billy Markus built Doge based on the UTXO transaction framework, aiming to demonstrate improvements to Bitcoin and create a cryptocurrency that was easier to acquire, more practical, and more fun. Today, Doge has become the top project in the meme space.

Looking more recently, the “National Engraving” trend in 2023, which was initiated by the Bitcoin ecosystem, is seen by many as an evolutionary variant of memes that emphasizes the principle of fair distribution. The engraving craze not only ignited people’s enthusiasm for participating in the Bitcoin ecosystem but also pushed Bitcoin to kickstart large-scale ecosystem infrastructure. Among the most well-known examples is OKX’s Web3 wallet, which became a huge success thanks to its smooth engraving experience.

Additionally, the veteran public chain CKB, known for its technical prowess, quickly noticed the mismatch between the enthusiasm for the Bitcoin market and its outdated infrastructure. It introduced the RGB++ extension protocol with homogeneous binding, achieving native scalability for Bitcoin. Based on this extension protocol, it has built a series of Bitcoin ecosystem infrastructure products, including the encrypted wallet JoyID, which integrates Passkey key management and allows users to use it without any blockchain knowledge. It also includes programmable stablecoins USDI and RUSD products, providing a stable bridge for BTCFi. Other products like the native trading platforms UTXOSwap, Omiga, and Dobby effectively solved the liquidity issues and high transaction costs of BTC assets, greatly enhancing the user experience of the Bitcoin ecosystem at the time and laying a solid foundation for the future development of memes.

More importantly, making money in the meme space relies on early positioning when no one is paying attention, and currently, Bitcoin memes, which are being overlooked, have become the focus of sharp meme hunters.

Solana, the main hub for memes in this cycle, has recently shown signs of fatigue. A large influx of users has led to severe PVP competition, with many people losing money and leaving. In the past month, Base Meme has emerged, and several viral hits created by Virtuals and Clanker not only made early investors a lot of money but also provided a clear meme lesson: When attention hasn’t yet converged, it’s best to position early, which often results in lower competition and better potential returns.

Now, according to Artemis data, Base saw a net inflow of over $750 million in the past month, and it’s clear that the opportunity for profit in Base is quickly narrowing. Following the “early positioning, high returns” logic and learning from the meme development experiences of Pump.fun on Solana and Virtuals on Base, if the proper infrastructure and launch platform are set up, Bitcoin memes—rich in meme culture but yet to gain massive attention—are highly likely to become the next meme hub, taking over from Base.

Thus, the script for the Bitcoin meme craze is written. Who will be the one to build the infrastructure and set the stage?

Why is RGB++ the optimal solution for Bitcoin meme asset issuance?

As mentioned before, memes are essentially an asset class, so the method of Bitcoin asset issuance becomes a prerequisite for the explosion of Bitcoin memes.

Due to Bitcoin’s extremely limited scripting language, it is not easy to issue native Bitcoin assets and assign them complex transaction rules and contracts. Over the past decade, solutions to this issue have continuously evolved, until CKB, inspired by RGB, introduced the innovative RGB++ extension protocol. This protocol provided the most widely accepted approach for Bitcoin asset issuance, combining both native properties and flexibility.

Colored coins, widely considered to be the first exploration of Bitcoin asset issuance, could map real-world assets but were limited by Bitcoin’s functionality. They couldn’t support Turing-complete smart contract scripts.

For a long time afterwards, asset issuance in the Bitcoin ecosystem mostly relied on sidechains pegged to Bitcoin. This two-way peg method allowed Bitcoin to be moved to a sidechain, offering flexibility. However, sidechains are independent chains, even if anchored to Bitcoin, and they are not directly associated with BTC. This lack of native properties posed security risks and was never widely accepted.

On October 19, 2023, Lightning Labs, the developer of the Lightning Network, announced the launch of the Taproot Assets protocol, which was seen as a milestone for Bitcoin asset issuance. Taproot Assets allows anyone to issue any token based on Bitcoin, but unfortunately, this solution does not support complex smart contracts, which creates significant limitations for more advanced asset features.

The Ordinal asset issuance method represented by inscriptions, along with its variations such as BRC-20, ARC-20, and Runes, led the Bitcoin ecosystem frenzy with the help of SegWit and Taproot. Simply put, the Ordinal protocol works by assigning unique identifiers to the smallest unit of Bitcoin, the 21 trillion satoshis, and writing information into each satoshi to create native Bitcoin assets.

However, this asset issuance method still faces limitations, such as scalability, due to Bitcoin’s block speed and capacity.

At the beginning of the engraving craze in early 2023, CKB, which had always been interested in the Bitcoin ecosystem, recognized the performance limitations and the lack of Turing completeness in Bitcoin. Inspired by the RGB protocol, CKB began designing RGB++ to achieve native scalability and programmability for Bitcoin.

The core idea of RGB is simple: to place asset issuance and contract logic off-chain and bind these off-chain behaviors to Bitcoin’s UTXO changes through client-side verification and a one-time sealing technique. This binding relationship enables off-chain asset issuance to inherit Bitcoin’s strong security.

During this process, users need to run their clients and verify asset changes that relate to them, but since most ordinary users cannot store all historical transactions, this creates a data silo problem. Additionally, due to limitations in the virtual machine AluVM used by RGB, RGB still cannot support full contract functionality.

RGB++ re-engineers RGB with a core concept that can be summarized in four words: Homogeneous Binding.

First, the tasks of client-side operation and validation, which were originally the responsibility of the user, are now handed over to CKB. This scheme, where Bitcoin acts as the main chain, and CKB serves as a shadow chain with two-way binding between UTXO and Cells, not only inherits Bitcoin’s strong security foundation but also solves the global verifiability problem of RGB. More importantly, the use of the CKB-VM virtual machine brings powerful smart contract capabilities, turning the RGB++ protocol into a cradle for incubating Bitcoin-native Memes.

In July this year, RGB++ was upgraded to RGB++ Layer, aiming to play an important role in the asset issuance layer of Bitcoin from a more global perspective. It not only supports homogeneous binding between any blockchain based on the UTXO ledger model (including Cardano, Dogecoin, BSV, BCH, etc.), but also supports multiple types of assets, such as FT, NFT, etc., making asset issuance more in line with actual needs.

It’s worth noting that the news that RGB++ is soon to support Dogecoin has recently attracted widespread attention. Dogecoin has long lacked a strong on-chain ecosystem, but with the support of RGB++, Dogecoin will be upgraded from a Meme Coin to a Meme Chain. Users will be able to issue any type of asset on Dogechain, and with RGB++’s bridge-less cross-chain Leap and Lightning Networks compatibility, Dogecoin users can trade in a cheaper, faster, and more seamless manner.

The advantages of RGB++ combined with the millions of Dogecoin users and its tens of billions of dollars in market value will further deepen the fusion, positioning Dogecoin as the preferred platform for Meme projects, and will further boost the Bitcoin Meme ecosystem.

Thanks to the advantages of the UTXO model, the RGB++ Layer can create a new paradigm for asset issuance, supporting the issuance of the same asset on multiple chains simultaneously at different ratios. This not only achieves coordination and unification across different chains but also provides high flexibility for asset issuers.

RGB++ Layer is also introducing a new asset issuance model called IBO (Initial Bitcoin Offering), which supports the creation of liquidity pools directly on UTXOSwap, enabling newly issued assets to be traded with high liquidity.

We previously detailed the operational logic and specific advantages of RGB++ Layer in asset issuance in our article titled “A Comparison of the Four Mainstream Bitcoin Scaling Solutions: Which Will Truly Unlock the Trillion-Dollar Potential of BTCFi?” Interested readers can revisit the article.

Through RGB++, we see a Bitcoin ecosystem that supports asset issuance in a more widespread, natively programmable, interoperable, simple, efficient, and transparent manner. This will serve as the foundational infrastructure for the explosion of Bitcoin Memes.

As the infrastructure improves, the focus of Bitcoin Meme development shifts to specific innovative gameplay.

Unlocking Transaction Innovation: How Does RGB++ Enable More Advanced Meme Gameplay Based on BTCFi?

How can we more efficiently translate RGB++’s specific advantages in asset issuance into more innovative gameplay and better user experience?

The first key factor is the launch platform.

In April 2024, Pump.fun went live, pushing Solana Meme to new heights. Subsequently, major blockchain ecosystems began to follow suit, whether it was TRON’s SunPump, BSC’s Four.Meme, or Base’s Virtuals and Clanker. Historical experience has repeatedly proven the catalytic effect of launch platforms in meme development.

In the face of the imminent explosion of Bitcoin memes, CKB Meme Launch Platform CKB.Fi, benchmarked against Pump.fun and Virtuals, represents a forward-looking strategic layout in the CKB ecosystem, aiming to become the “Meme hit factory” of the Bitcoin ecosystem in the future.

Rooted in Bitcoin’s meme culture and armed with RGB++’s asset issuance advantages, another highlight of CKB.Fi’s Meme asset issuance lies in its deep integration with the best crypto social media platform, Twitter.

Users have two ways to launch memes: one is to launch directly on CKB.Fi, with just a few simple steps to fill in information; the other is to launch based on Twitter. Users can reference a tweet as the meme content source, and then fill in the token-related information based on the content. Once the tweet meets the criteria, it will be detected and a bonding creation will be completed on CKB.FI. CKB.FI Twitter will then return the bonding link to the author to officially complete the launch. Subsequently, tokens will be distributed through Twitter followers to complete the cold start of the community.

As is well-known, Twitter has become the largest hub for meme information. CKB.Fi’s innovative meme issuance and distribution method based on Twitter not only facilitates the discovery and preservation of valuable content, bringing cultural value to meme projects but also promotes sustainable meme project propagation and promotion by integrating social gameplay.

Creator incentives are another core feature of CKB.Fi, with 6.9% allocated to token initiators and their Twitter followers. This allocation effectively prevents market manipulation and encourages more people to participate in meme creation. Additionally, creators can use part of the allocation to incentivize their followers, further adding social elements to the meme gameplay and driving meme projects to spread among Twitter’s billions of users.

With a fair, low-barrier, and highly shareable launch platform, RGB++’s series of advantages will bring more complex, innovative, and value-driven gameplay to meme assets.

As a meme asset issuance solution, memes launched through RGB++ will theoretically never go to zero, unlike most memes that ultimately fail. This is due to the unique value-capture mechanism of the CKB blockchain, which requires locking CKB tokens for on-chain data storage and operations. In other words, the issuance of RGB++ memes will occupy a corresponding amount of CKB tokens based on the asset size. This injects value into the meme, distinguishing it from purely speculative memes. When users still like a meme or there is still profit potential, the meme will continue to exist. When users no longer like the meme or it has no profit potential, users can choose to destroy the meme and redeem the locked CKB tokens.

In terms of trading experience, assets are created on CKB, with an average block time of about 10 seconds and very low fees. A single CKB can pay for over 5000 transactions worth of miner fees under normal conditions. This leads to efficiency and cost optimization, solving the inherent issues of Bitcoin transactions, such as long processing times, low efficiency, and high costs.

More importantly, CKB is Turing-complete, meaning it can design more complex conditional executions and business logic for meme gameplay. This allows for deeper gameplay possibilities for Bitcoin memes. Additionally, CKB itself can build a rich ecosystem, encompassing modules such as wallets, DEX, DID, stablecoin protocols, GameFi, and SocialFi. CKB is actively expanding through ecosystem collaborations, meaning meme assets can also participate as income-generating tools, such as meme staking, meme lending, building on-chain identity systems, and social applications. This deepens the integration with other ecosystem sectors, helping holders earn more revenue.

In addition to providing a better experience and richer ecosystem gameplay, RGB++-supported meme asset issuance and trading offer strong aggregation and interoperability.

Thanks to the UTXO model, RGB++ not only supports asset issuance on all UTXO-based blockchains but also, as mentioned earlier, allows issuers to issue the same asset across multiple chains in different proportions based on their specific business needs. Additionally, through the RGB++ Layer’s cross-chain (Leap) feature, assets can seamlessly interact between multiple chains without the need for a cross-chain bridge. Assets on UTXO chains can be easily transferred to another UTXO chain.

As a result, RGB++ provides a unified asset issuance standard for all UTXO model blockchains, making asset issuance and management more intuitive and flexible, and asset trading more secure and seamless. Users, funds, and liquidity across multiple chains—such as Cardano, Dogecoin, BSV, BCH, and DogeChain—can be further integrated, providing memes with richer ecosystem scenarios, wider users, and deeper liquidity.

Currently, CKB.Fi, based on RGB++, is expanding the existing meme issuance mechanism to Bitcoin’s product, btc.finance, which is nearing completion. It will also use RGB++ to develop a similar issuance platform on DogeChain, unlocking the meme economic potential on the most widely accepted meme (BTC) and meme chain (DogeChain).

Another Very Intuitive Example of Deep Integration Between Meme and the Ecosystem is Fiber Network:

As an L2 network based on CKB, Fiber Network aims to expand Bitcoin’s ecosystem programmability. Its initial functions are similar to the Lightning Network, aiming to become a high-performance, low-cost micro-transaction payment network, with stronger flexibility and higher efficiency in liquidity management.

However, the birth of Fiber Network is not intended to replace the Lightning Network, but rather to work hand in hand with it to further enrich the possibilities of the Bitcoin ecosystem. Unlike the Lightning Network, which focuses solely on BTC, Fiber Network supports all assets issued based on the RGB++ protocol.

Fiber Network shares UTXO technical homogeneity with the Lightning Network, and the two naturally have cross-chain atomic swap capabilities. The combination of “Bitcoin-level security + Ethereum-level functionality + Lightning Network-level speed” will not only pave the way for the large-scale adoption of the Lightning Network but will also introduce limitless possibilities for the development of BTCFi. As a key asset class and traffic entry point in the Bitcoin ecosystem, Meme will inevitably give rise to more innovative gameplay in the richer BTCFi scenarios.

Conclusion

Actions speak louder than words. The Meme within the CKB ecosystem has already shown signs of taking off.

At the end of November, Seal, the leading asset in the RGB++ ecosystem, gained attention with a remarkable 430% increase in just seven days, sparking widespread discussions about the potential of the Bitcoin meme ecosystem. It is reported that Seal will become one of the first RGB++ assets supported by the Fiber Network. Holders of Seal tokens will be able to participate in decentralized liquidity lending and other Lightning-based BTCFi services, leading the next development phase of Bitcoin-native financial services.

Additionally, the CKB meme launch platform, CKB.Fi, is also developing Pump.fun-like products based on BTC and DOGE, aiming to optimize meme asset issuance while enriching asset trading gameplay. This has also triggered concentrated discussions within the community.

Since the craze around inscriptions, the Bitcoin ecosystem has already been unfolding for a while, and memes are seen as an important traffic entry point for new users into the Bitcoin ecosystem. From the perspective of meme characteristics—whether in terms of historical origins, cultural attributes, or ecosystem potential—the development of Bitcoin ecosystem memes holds great promise. The emergence of RGB++ further addresses the challenges of asset issuance and trading in Bitcoin memes, bringing a solution that combines both native and programmable capabilities.

As CKB continues to refine its product matrix around RGB++ and the CKB.Fi meme launch platform continues to iterate, will the next breakout meme hit emerge from the Bitcoin ecosystem?

The meme cycle continues—stay tuned!

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