The live price of roup is $0.0001425 per (roup / USD) today with a current market cap of $300,842.69 USD. The 24-hour trading volume is $37.41M USD. roup to USD price is updated in real time. It has a total supply of 2.10B .
roup is an inscription token issued on the Bitcoin blockchain based on the Ordinals protocol. With a total supply of 21 million bitcoins, each coin can be subdivided into 100 million satoshis (satoshi is the lowest denomination of a Bitcoin), amounting to a total of 2100 trillion satoshis. Inscriptions are created by using the Ordinals protocol to write content to each satoshi. The ordinals protocol involves writing information to each satoshi, including text, pictures, audio, video, etc.
Roup (Ordinals): What Is It and How Does It Work?
What Is Roup (Ordinals)?
Roup is a pivotal channel for the integration of BRC-20 assets into Bitcoin Layer 2 (L2) trading. This project, spearheaded by the community, is unique in its approach, as it ensures that all revenues generated are reinvested back into the community. At its core, Roup leverages the MAP Protocol's BRC201 standard, a new cross-chain solution. This technology not only facilitates secure and traceable bridging on top of Bitcoin but also significantly reduces transaction costs. By rolling up BRC-20 tokens to MAP Protocol's second layer, Roup offers a staggering reduction in gas fees, saving users more than 100 times the cost.
Resources
Official Documents: https://docs.rolluper.xyz/
Official Website: https://www.rolluper.xyz/en
How Does Roup Work?
Roup operates primarily through the BRC-201 cross-chain protocol developed by the MAP Protocol. This protocol enables BRC-20 assets to gain traceable cross-chain capabilities, allowing these assets to be implemented and expanded within the MAPO L2 ecosystem. The BRC-201 standard, an extension of the BRC-20 standard, is designed to be backward compatible while enhancing scalability. It particularly focuses on bridging BRC20 tokens to smart contract-supported chains like Ethereum, BNB Chain, and Near, among others.
The technical workflow of Roup involves the inscription of new BRC-201 tokens, which are then transferred to the ROUP Vault Address for rollup. This process underlines the seamless integration and expansion of BRC20 assets across different blockchain networks, ensuring both security and efficiency in transactions.
What Is the Tokenomics of ROUP Token?
The ROUP token is Rolluper's native BRC20 platform token, with a total issuance capped at 2.1 billion tokens. Each engraving of these tokens is limited to 10,000, emphasizing a fair and equitable distribution. Unlike previous projects where token distribution often favored development teams and VCs, Rolluper ensures a more democratic and community-focused approach. ROUP has garnered significant attention, boasting a vibrant community of over 3,900 holders as of January 2024.
In terms of tokenomics, Roup stands out with its commitment to returning fee revenue entirely to the community. This is achieved through methods like buy-backs and token destruction, with specific ratios decided by token-holding users. Notably, at least 30% of the fee revenue is allocated to the developer community, acknowledging their role as the project's initiators and sustaining their motivation to enhance the community's interests.
The BRC-20 inscription tokens roup are tokens based on the Ordinals protocol and inscribed on the Bitcoin network. To purchase roup, you need a crypto wallet that supports the Bitcoin network. For instance, you can purchase roup on the marketplace within these Bitcoin wallets at unisat.io/market/brc20?tick=roup or ordinalswallet.com/brc20/roup. However, it's important to note that you will need to buy BTC and deposit it into these Bitcoin wallets first before you can acquire these BRC-20 tokens.
Some of the major BRC-20 inscription tokens, including $ORDI, $SATS, $RATS, $VMPX, $PEPE, $BIP, are currently listed on Bitget, where you can purchase them.
You can inscribe various types of Bitcoin inscription tokens, including Bitcoin NFT, BRC-20, and more, at web3.bitget.com, unisat.io/inscribe, ordinalswallet.com/inscribe, idclub.io/brc20 or looksordinal.com. The process for inscribing BRC-20 inscription tokens is as follows:
1. First, you need to buy BTC and deposit the acquired BTC in your Bitcoin Wallet.
2. Then, open the inscription feature module on these platforms in your browser and select the BRC-20 type.
3. You can click the search icon and select BRC-20 to view a list of Bitcoin-based inscription tokens.
4. Select an inscription token currently being distributed and participate in the minting process.
5. Select how many times you want to mint this token inscription. With each minting, you will receive a specific number of tokens. For example, with 5 times of minting, you will get five times that specific number of tokens.
6. Enter the gas fee amount. Keep in mind that a higher gas fee will result in a faster transaction processing time.
7. Minting is complete. You can now view the inscribed tokens in the My Inscription section on the Profile page of these minting platforms, or all the inscription tokens on your Bitget Wallet.