ORDI is the first-ever token created using the BRC-20 standard on the Bitcoin network. It represents a major milestone in Bitcoin's evolution, moving the blockchain from a simple "store of value" to a platform for digital artifacts and custom tokens.
Here are the fundamentals you need to know:
1. The Technology: Ordinals Protocol
Unlike Ethereum tokens which use smart contracts, ORDI operates via the Ordinals Protocol.
Inscriptions: It allows data (text, images, or code) to be "inscribed" directly onto a Satoshi, the smallest unit of Bitcoin (1 \text{ BTC} = 100,000,000 \text{ Satoshis}).
On-Chain Permanence: Because the data is written directly into the Bitcoin witness data, it is as permanent and secure as Bitcoin itself.
2. Tokenomics: Scarcity by Design
ORDI mirrors Bitcoin’s own scarcity to appeal to the "digital gold" narrative:
Max Supply: 21,000,000 tokens.
Circulating Supply: 100% (fully diluted).
No Premine: There was no venture capital allocation or "team tokens"; it was a fair launch where anyone could mint the tokens for the cost of a Bitcoin transaction fee.
3. Market Role: The "First Mover"
ORDI is often viewed as the "index" for the entire Bitcoin ecosystem of sub-assets.
The First BRC-20: It was deployed in March 2023 by the developer @domodata as an experiment.
Liquidity Leader: As the first of its kind, it enjoys the highest liquidity and exchange listings (Binance, OKX, etc.) among all BRC-20 tokens.
4. Key Considerations
Utility: Currently, ORDI functions primarily as a meme coin or a speculative asset. It does not have built-in governance or "utility" in the traditional sense, though it is the #ordi flagship for the BRC-20 movement.
Network Impact: Its popularity has led to higher transaction fees on the Bitcoin network, which is a point of contention among Bitcoin purists but a win for Bitcoin miners.
