Overview

The idea is to utilize the vast integrated Omnichain Liquidity infrastructure to unlock accessibility of the Bitcoin network for the world. We are doing this by utilizing Stacks Infrastructure to bring Bridgeable USDC to Bitcoin along with all other assets from every integrated chain as Runes. This requires an upgrade to the Runes Protocol which we will contribute to working together in collaboration with the Ordinals Bot team.

By making Runes Mintable, Burnable and Pausable we introduce key fungible elements adding to the usability of Runes by enabling dynamic supply management and interoperability functionality.

Powered by Omnichain Liquidity and omniSwaps Runes are then tradeable across Bitcoin L1, Bitcoin L2, and every integrated EVM and non-EVM chain ecosystem through the Stacks ←→ Omanichain Protocol integration. This includes stable coins and alt coin assets.

Problem Statement

• Bitcoin lacks native support for stablecoins and cross-chain asset transfers, limiting its utility in DeFi applications
• Current bridging solutions are fragmented, creating liquidity silos and poor user experience across Bitcoin L1, L2s, and other blockchain ecosystems
• The Runes protocol, while innovative for fungible tokens on Bitcoin, lacks key features like mintable/burnable capabilities needed for bridged assets
• Users cannot easily access USDC and other stablecoins on Bitcoin without relying on centralized custodians or wrapped token solutions

Proposed Solution

• Integrate Circle's Cross-Chain Transfer Protocol (CCTP) with Omnichain Protocol to enable native USDC transfers to Bitcoin via Stacks
• Upgrade the Runes Protocol in collaboration with Ordinals Bot team to support mintable, burnable, and pausable functionality
• Deploy bridged USDC and other assets as Runes tokens on Bitcoin, backed by CCTP's burn-and-mint mechanism
• Leverage Omnichain Liquidity infrastructure to enable seamless trading of Runes across Bitcoin L1, Bitcoin L2s, and all integrated EVM and non-EVM chains
• Create a unified liquidity layer using omniSwaps that connects Bitcoin's ecosystem to 50+ integrated blockchain networks

Success Criteria

Success means achieving seamless USDC transfers to Bitcoin as Runes with $100M+ in total value locked within 6 months of launch. Users should be able to bridge USDC from any supported chain to Bitcoin in under 5 minutes with minimal fees. The solution maintains 99.9% uptime and demonstrates clear product-market fit through sustained daily active usage and integration by at least 3 major Bitcoin DeFi protocols.

User Stories

• As a Bitcoin user, I can bridge USDC from Ethereum, Arbitrum, or any integrated chain directly to Bitcoin L1 as a Runes token