Bitcoin Unveils REE and RichSwap: A New Era of Programmability

Bitcoin has taken a significant step towards becoming a more versatile and programmable blockchain with the launch of REE (Runes Exchange Environment) and RichSwap, a decentralized exchange (DEX) built on top of REE. This development introduces Turing-complete smart contract capabilities to the Bitcoin mainnet, opening up new possibilities for the BTCFi ecosystem.

REE, a Bitcoin programmability extension protocol created by Omnity Network, constructs a decentralized execution layer that enables smart contract deployment without relying on cross-chain assets. Built upon the ICP (Internet Computer Protocol) public chain, REE introduces innovative DPS (Dynamic Partially Signed) technology, which allows smart contracts on ICP to actively engage in multi-party transactions on Bitcoin. By dynamically forming Partially Signed Bitcoin Transactions (PSBT), REE enables atomic transactions and supports a variety of protocol combinations, including Swap, Lending, and Staking.

The first application launched within the REE ecosystem is RichSwap, a decentralized Rune Automated Market Maker (AMM) DEX. Leveraging an "optimistic execution, batch settlement" mechanism, RichSwap processes transactions at sub-second speeds, offering a remarkable 100x improvement over traditional Bitcoin confirmation rates. Furthermore, the platform pledges to donate a portion of its protocol revenue to the Rune HOPE•YOU•GET•RICH initiative.

Omnity Network is committed to establishing a comprehensive BTCFi infrastructure through its core offerings, aiming to redefine Bitcoin as a pivotal layer for global economic settlements and digital financial innovation. This development is a testament to the growing potential of Bitcoin as a programmable blockchain, opening up new avenues for decentralized finance (DeFi) and other innovative applications.