The New Wave of the Bitcoin Ecosystem: A Deep Dive into BAMK and NUSD

The Bitcoin ecosystem has undergone significant development over the past decade, introducing innovations such as ordinals, runes, op_cat, and various Layer 2 and sidechain solutions. This article will delve into the emerging projects BAMK and NUSD within the Bitcoin ecosystem, as well as the unique insights of its founder Jack Liu.

Jack Liu's Bitcoin Journey

Jack Liu started to get involved with Bitcoin in 2013, when the price of Bitcoin was around 175 USD. He bought his first Bitcoin in Vancouver and began participating in this emerging industry as a blogger. Despite initially lacking a programming background, Jack's enthusiasm propelled him forward.

His career experienced a significant turning point, participating in projects such as Kraken, OKCoin (which later launched OKX), and Circle. During the Bitcoin scaling controversy, Jack witnessed intense discussions within the community. Despite the rise of other cryptocurrencies like Ethereum, Jack remained focused on the development of the Bitcoin ecosystem.

Investment Philosophy: Simple, Novel, Liquid

Jack shared his investment philosophy, emphasizing the importance of simplicity and liquidity in the decentralized economy. His approach to evaluating cryptocurrency opportunities is based on the principles of "simple, novel, and liquid." In a decentralized world, investments must be easy to understand and widely accepted in order to connect with global users.

He took Ordi as an example to point out its simplicity and ease of trading as the first BRC20 token on Bitcoin, helping it quickly gain market recognition. Jack also emphasized the importance of timely grasping new trends, even if these trends initially seem unconventional.

BAMK and NUSD: Innovative Bitcoin Projects

BAMK is a meme token, while NUSD is similar to the Ethena project on Ethereum. The initial distribution of BAMK includes providing 6.25% of the tokens to the public and 6.25% to NUSD holders, with the remaining portion reserved for future development. Jack emphasized the importance of sustainable growth and plans to burn tokens based on specific milestones.

NUSD is a synthetic dollar running on the Bitcoin mainnet, providing users with a decentralized stablecoin option. Despite the slow transaction speed and high fees of Bitcoin, NUSD still attracts a large number of users, proving its value of existence. Unlike traditional stablecoins, NUSD operates as an algorithmic stablecoin on the Bitcoin mainnet, appealing to users looking to avoid centralized exchanges.

Build On-chain Community and Attention

Jack emphasized that the success of crypto projects relies more on genuine interaction with on-chain communities rather than traditional marketing strategies. The rapid development of BAMK and NUSD can be attributed to their organic growth, transparency, and community involvement.

The community engagement of BAMK is particularly outstanding, thanks to its user-centric approach and inclusive token distribution strategy. Community members actively participate in content creation and promotion, allowing the project to rapidly expand its influence.

Future Outlook

The future goals of BAMK and NUSD include further increasing the total locked value, exploring opportunities for listing on centralized exchanges, integrating with Layer 2 solutions, and achieving broader adoption within the Bitcoin ecosystem. Long-term goals include automating projects through on-chain perpetual swaps, reducing reliance on centralized exchanges.

UTXO Management invested 1 million USD in NUSD, indicating that the project has gained a certain level of institutional attention. Jack emphasized the importance of organic growth and is committed to ensuring the project's long-term sustainability and transparency.

Conclusion

BAMK and NUSD, although new projects launched for less than two months, have quickly become prominent figures in the Bitcoin ecosystem. Their rapid rise demonstrates the tremendous potential of the Bitcoin Finance (BTCFi) sector. Despite facing challenges, the development of these projects will undoubtedly bring new vitality and possibilities to the Bitcoin ecosystem.