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Community Call #41 - Bitcoin DeFi
Recorded: Dec. 8, 2025 Duration: 0:45:10Space Recording
Short Summary
Omniti's recent community call unveiled the launch of Satsman, a platform for token launches on Bitcoin, alongside updates on Reswap and strategic partnerships, signaling a robust growth trajectory in the Bitcoin DeFi landscape.
Full Transcription
What do you do with the Bitcoin besides it just gather value?
Real estate developers in New York City, they're not buying the real estate because they want
to live in it but like most of the people who are buying assets at some point want to sell the assets out
of profit people people that use fiat currency as a store of value we call them we poor we call them we poor people that use fiat currency we call them
the poor we call them we call them poor
there's a name for them. We call them the core. We call them the core. Okay.
Right. Like the point is if you have the superior asset, it's going up forever more.
If you have the superior asset, it's going up forevermore.
Forevermore.
Right, I mean, right, but I mean, we can all look, Bitcoin sort of, as forevermore.
People that use fiat currency as a store of value, we call them poor.
People that use fiat currency,
we call them poor.
We call them poor.
We call them poor.
We call them poor.
There's a name for them.
We call them the poor.
We call them the poor.
We call them the poor.
We call them the poor.
We call them four. We call them four.
We call them four.
Okay. What do you do with the Bitcoin besides it just gather value?
Real estate developers in New York City, they're not buying the real estate because they want
to live in it.
But like most of the people who are buying assets at some point want to sell the assets out of profit.
People that use fiat currency as a store of value,
we call them poor.
We call them poor.
People that use fiat currency.
We call them poor.
We call them poor.
We call them poor.
We call them poor.
There's a name for them.
We call them the core.
We call them the core.
Okay.
Right, like, the point is, if you have the superior asset, it's going up forevermore.
Forevermore.
Right, I mean, right, but I mean, we can all look the coins sort of as forevermore
people that use fiat currency as a store of value we call them the core we call them the core
We call them poor.
People that use fiat currency.
We call them poor. There's a name for them.
We call them poor.
We call them poor.
We call them poor.
We call them poor.
We call them poor. We call them four.
We call them four.
Four.
Okay. What do you do with the Bitcoin besides it just gather value?
Real estate developers in New York City, they're not buying the real estate because they want
to live in it.
But like most of the people who are buying assets at some point want to sell the assets
out of profit. People that use fiat currency as a store of value,
we call them poor.
We call them poor.
People that use fiat currency.
We call them the poor.
We call them the poor.
We call them the poor.
We call them the poor.
There's a name for them.
We call them the poor.
We call them the poor. We call them the poor.
Okay.
Right, like, the point is, if you have the superior asset, it's going up forevermore.
Right, I mean, right, but I mean, we can all look Bitcoin sort of forevermore. People that use fiat currency as a store of value, we call them poor.
People that use fiat currency, we call them the poor.
There's a name for them.
We call them the poor.
We call them the poor. Okay. all right all right welcome to community call number 41 as usual i'm your host sheldon dear director of ecosystem at omni network and it's december already it's uh happened really
fast 2025 has been busy.
And if you've been in crypto as long as I have,
you've probably aged about 10 years this year.
So there's a lot going on in Bitcoin.
There's a lot going on in ICP.
There's a lot going on in institutional activities
of different types that are largely out of the scope
of our work at Omniti, but still affect the larger market.
And things have just
been incredibly busy. We've launched Satsman, which is a new take on a fair launch that we'll
get into a little bit more later. And we've also recommitted to our product suite, tooling,
all kinds of things. I'm really excited to give my update. I'm not going to jump the queue,
but there's a lot been happening at Omniti and there's just a lot to keep up with in larger market.
Obviously, there's some bearish sentiment lying around, but for anyone who's been in crypto as long as we have, no, this is the most important time where you keep working.
If you get distracted every time number go down or number go up, we can never get anything done around here.
our number go up we can never get anything done around here so with that um i'd like to ask our
lead architect julian sun to jump in and julian if you could tell us about uh your update for
last month and looking at december we'd excited to hear from you bud sure uh thank you sheldon
uh hi arvan uh here is a quick update on our technical progress for the last month. First about the RE lending demo, we updated the GitHub repository to use the new RE Exchange
SDK and RE Client TS SDK.
The documentation has been updated as well.
If developers want to see how the SDK are used in practice, they can check the guide on our docs website.
It now reflects the latest implementation, so it should be much easier to follow and integrated. Next, we launched a new project called Sightman.
It's a meme launchpad running on Bitcoin layer one.
Sightman is designed to be fair and fully verifiable.
We are rolling it out in two phases.
Phase one, which is SmartEdge, is already live.
This allows user to bid on and edge short runnames even before they are unlocked.
And Phase 2, which is the full Launchpad functionality, is expected to go live in about one week. And finally the update on ReSwap, we have added a new feature
so that any new pool created in the future will support a beneficiary setting. This is particularly relevant for Sysman, because once the ruin token successfully launches
there, Reswap will automatically create a pool for it, and with this new feature, the
launch initiator will automatically become the pool's beneficiary and receive rewards.
That's all for this month.
Thanks very much, Julian.
It sounds like quite a busy month, and I know that lots of the folks out there,
Vibe Coding, are happy to have SDK.
They're happy to have documentation update.
And while I was playing around with on-chain AI,
that REE sort of demo application was very, very helpful to me. If anybody is willing to read through those docs or send your AI to read through the docs, it's surprisingly clear. The
easiness of the walkthrough is just, hey, if you're comfortable enough trying something you
haven't done before, then you could pretty much get started as long as you're willing to get that same AI to help you with those prerequisites.
So I'll tell you guys a little bit about what I've been seeing in the field on the AI side
of things. Just again, a little bit of security stuff going on in Bitcoin, questions about quantum,
you know, the general buzzword laden confusion is still present. But at the same time,
AI is becoming more normal
in Bitcoin pull requests. And that's resulting in some interesting debate that we want to make sure
that folks are making genuine requests and not just clogging the queue with civil attacks. So
interesting discussions in Bitcoin there outside of the knots and other BIPs debate. There's still
a lot of productivity going on outside of
that one niche where i still haven't gotten luke from ocean mining to to block me but hey as long
as bitcoin allows us to pay for sats to do something we can keep doing stuff that's always
how bitcoin has worked at art basil this week we got to uh join a nice public discussion with the
open ordinals institute uh we sponsored pizza dow i wasn't able to
get rar skrilla out to join us on a panel he was supposed to be there but we did get troy from the
ordinal's help desk to join us on a panel and that was really great as well so good to catch
up with some folks there was not quite the puppets presence that i would have liked to see at art
basil but hey art basil is always a little bit bearish when the market's a
little bit bearish. I think that's part of how some rich folk might think about how the market
looks is how art looks in December. On the ecosystem side of the house, we've been preparing
automation and animation. I'm really proud of the 3D work that's been moving forward on our team
and the on-chain research that I've been doing and that other folks have been doing
shows that the amount of light clients on the IC is growing, the amount of developer
activity on the internet computer is growing significantly. And that means that the sort of
SOM or immediate secondary market of developers that is directly adjacent to our work at Omnity
is growing. So while that's very significant, you guys know that we're in macroeconomic contraction right now. The world's not the most speculative thing.
So capital activity is not jumping into those light client interfaces, but they still are
coming online. I've received multiple inquiries this weekend during the Plumify Miami hackathon
about Bitcoin on the IC, about Monero on the IC, and a few others to name. But Bitcoin still
has the highest market cap, the highest on-chain activity, and the best security budget, meaning
the net overall highest cost to mine. So keeping the network secure and keeping folks interested
with plenty of new opportunities, unused opcodes, and strange things to still experiment with.
I'm glad it's keeping the door open.
Even when things are bearish, there's been a still fair amount of engineering interest.
I'm seeing institutions focused a little bit less on Bitcoin at the moment.
I think that Bitcoin available on paper is what most entities we're waiting for.
And they don't care largely about what we do with PSBT construction
or any of those other interesting topics. But at the same time, we have our microscope and we have
our macroscope. So on the macro, we keep an eye out for a larger capital. On the micro,
we stay very focused on Bitcoin development. So it's been a busy November. It's been a busy
December. ArcVasel was absolutely hectic and thank goodness
I have a scooter so I don't have to get stuck in traffic everywhere I go here. But yeah, it's been
great. And with that, I think I'll ask to call on our editor, Zan. Zan, are you on stage? I see you
as a listener. Are you here? Not sure if our lead editor can speak, but I'll send her the mic if we can.
Okay, Louis about the competition for the Big Head short name.
So I think that's a great one to read.
You can check it out on the Omidy profile. You can check it out on Lewis's profile, but that's a good example
of, you know, how a race to a runes short name or short name runes works on chain and with Satsman,
and we'll get more into that later. But that was also a great publication that came out recently
from Omniti. So I owe that one a quick highlight.
I'm sure we'll come back to that topic later, but
technical difficulties, so we're going to keep moving and I'll see if Zan's able to join later. We'll get her the mic when we can. Cesar, are you behind the Omniti account? Is that you, sir?
behind the Omniti account, is that you, sir?
Just hi, Sheldon, hi everyone.
Well, thanks for joining our last Omniti space
on X on the air.
The major news across Omniti socials, as you know,
is the launch of Satsman, a Bitcoin native platform
designed for etching or creating
runes tokens on Bitcoin layer 1. Satsman enables users to securely, let's say,
efficiently etch short-named runes through a fair bidding system. So Satzman now joins our comprehensive suite
of Bitcoin on-chain products,
which currently includes Omniti Bridge,
Omniti Explorer, Reswap, and REE.
Essentially, Satzman offers you the opportunity
to add rare shortes directly on Bitcoin,
starting from $1 in BTC and using a Bitcoin native wallet, which is great.
In other important news, we have rebranded the Omniti, I'm sorry,
we have rebranded the Reswap X to omni t bitcoin apps you can find it
here i think in the space uh well um so we encourage to encourage you to follow this
account to discover all the new developments from our team um regarding our partners um ecosystem ecosystem we recently supported ICP in the poll launched by PIN crypto where ICP was nominated
as one of the best ecosystem for developers alongside Ethereum, Arbitrum, Sui and Anton.
Well for more details please follow our blog on Medium and look out for our our upcoming monthly report out for
it by Sun and well happy holidays in advance thank you so much as our I was
trying to pin tweet from Omni BTC depths but I guess halfway through this Android
UI transition for
on the side and pin that in the nest here, that would be great. If not, then you must be having
the same problem that I'm having. So I think Xan is also having some technical difficulties for a
similar reason. So we're going to keep going through our queue of speakers.
Our next one at Kim, partnerships lead.
Kim, are you available to tell us what your update?
Yes, definitely.
Thanks, Sheldon.
So I just shared the OmniDB20 apps accounts post,
I think which is quite significant last month, which really
signifies our position on building the core direction of gathering all the Omni Dbcoin DApps
and also to have more focus on getting users and also their press to understand what Omdis is doing. So essentially, this is part where our growth team actually will reach out to our existing
partners to get them to understand more about what we are doing now.
And yeah, currently, we engage back to the partners and also with the recent launch of Setsman on the 4th of December,
I think we are just the beginning of getting people to experience the new products that we have launched.
So I think for us, it's more about reconnecting and also due to the macro trends right now.
So I think it's a good time to really cool down in a slower pace and then get people to understand
and also to use our products and give us valuable feedbacks.
And also in the meantime, calling out to all the users, followers,
and also potentially developers as well to follow out our Bitcoin DApps account
so that you can get the newest,
most recent progress updates
or even some alpha as well.
All right, so passing back to you, Al Shalim.
All right, Kim, thank you so much. I know that there's a lot of stuff happening on Tessna right now. And, you know, the great part about that is that there's interesting
applications of Omniti tools out in the wild, and some of them are a little bit easier to find
than others. But I'm sure that we'll hear more about them in due time. And, you know,
but I'm sure that we'll hear more about them in due time.
And Omniti's productization is a parabola, an intense gain.
I don't mean to talk too much about it
because our next speaker, Arsene,
is going to cover product updates.
Arsene, can you tell us what's going on?
Because I know there's a lot happening.
It's not just Setsman.
Yeah, yeah, absolutely, Shadu.
Greetings, everyone.
Thanks for joining us at this monthly community call.
And if you have kept closely following our channels,
and you already know we rebranded the Twitter account of RichSwap to the Amity
Bitcoin dApps.
And it also marks a new chapter for the whole Amity team. to build more Bitcoin dApps on the RE, not just the only one we launched so far is the
RIS swap and it's solved a lot of pain points when people are swiping rules on Bitcoin layer one. And so now you can just sign the PSPT and swap Bitcoin rules for the other and without without bridging or depositing to the multisig that controlled by a few dues.
And you just keep your assets in your wallet until the moment the trade executed.
So that's one thing we bring for the Bitcoin DeFi and also we launched our, I should say
we just opened the first phrase of our nice step that called SitesMap. And so you can add your favorite runes in a better way.
We called it SetsMyEdge.
I think comparing to the existing edge tools on Bitcoin layer 1,
I think SetsMyEdge is the most cost-efficient design.
think sets match is the most cost efficient design so you can beat that
you want but it won't call that much that much if you if you don't have a
close competitor and you can see with the guy the fee paid for the review and get a discount for the etching.
So if you want to learn more, just visit Setsman.file and you can check how many sets are people saved for the runes that are etched?
I already see some digits are etching the big brain, the bitcoins.
You know, the bitcoins, this dude etched is one of the only runes because the runes can't have two same names for the runes.
So all the runes' names are one of one. So it's going to be bitcoins on bitcoins.
It sounds fun.
It sounds fun.
And the Bitcoin, the name itself will be unlocked in the coming months.
So like Lewis posted in his article, there is a war coming.
And you better deep dive into the seismic edge and learn the best weapon you can got from the market
and be ready for that. And at the whole section of this page, you're going to see the short name runes piece for the for the coming 30 days and there's a single
bit the names are hidden but if you have multiple piece for us a certain name
and it will be showed on this whole section and you can see people are
bidding for the winnings zero in, all in BTC.
I think this is a very good narrative.
So why we make this community Bitcoin devs account, that means we are committed to building more debts on Bitcoin layer 1.
And thanks for the infrastructure we have launched this year, the RE, the Ruins Exchange Environment.
I think we already unlocked the potential for build Bitcoin DeFi on Bitcoin itself.
So you never bridge your assets and you don't lock your Bitcoin or ruins in the multisig.
So you keep your assets and it's all automatic.
It happens on-chain. And because we utilize the internet computer for the competition,
and it's turning a complete exchange environment.
So if you are a builder, a developer, you should check this out
and see what the DeFi can be
on Bitcoin itself.
And I'm also very excited for the next chapter for Amity and also for the Setsman.
The Setsman of REST2 is going to be a fire launch launchpad on Bitcoin layer 1, and it's fully on-chain.
And it provides Bitcoiners with multiple ways to earn more sites. invite your followers your audience your friends to join a launch and you got a cat for their
deposit funds also you can launch a token on sites man and earn the trading fees from reswap We did some levels up,
and be prepared for the launch of Setsman Fries 2. And I'm going to say there are going to be a lot of pools coming from Setsman's fair launch.
coming from set months, fair launch,
and the people who launch it will
end the trading fees
from when people get caught by the narrative
and by the new user experience we built on Bitcoin.
And you can earn from building a true
community on Bitcoin so stay tuned and make sure you keep eyes out for the
updates the post announcements we got the post in the coming days. And yeah, do learn how to add your token if you want to participate in it.
And earn more Bitcoin when the Bitcoin is weak.
And I think Audinos is the art of Bitcoin and Runes is a meme coin on Bitcoin both of them so underrated so
don't sleep on it and take advantage of the set my edge and the cat is a ruins
you like and the edges are short names to be remember earn more Bitcoin and the stocking size.
Yeah, that's pretty much from me this month.
And we will see you in the coming posts of our channels.
Yeah, it's going to be a war and you got to be ready.
Back to you, Shadi.
The war of our short name runes is real.
I can tell you that Setsman is very active.
I'm so happy to see some different names on here that I recognize
and some smart plays also.
I remember DNS squatting back in the day
where lots of folks would hope that they could sell
a digital real estate and not a metaverse piece of land but just
you know a name record uh to a company for a reasonable fee and you know i think that could
easily come back under bitcoin because it's permanent than a lot of these other chains even
my personal sheldon deer.etheth. Data on Bitcoin does not.
Data on Bitcoin is permanent.
The name service is completely localized.
So with that, I'd like to turn it over to our founder,
Louis Liu, for a larger update.
And we'll cover some questions and details after.
Louis, are you available?
I had some audio issues earlier, so just making sure I can hear you.
LUIS LANGCONEVSKY- Can you hear me, Shaden?
OK, cool.
Yeah, we announced assessment last week and go and bring the smart edge module to the public.
And next week we will enable the launching model. So assessment is for, as I say, we try to bring meme coin launching and trading activities
back to Bitcoin layer one.
Because we believe that people love Bitcoin meme, they have been insanely patched BRC20 and ruins on Bitcoin in the past three or more years.
But unfortunately, the open mint mechanism, let's say, died because of lacking trading liquidity.
But still, people trading and grabbing Bitcoin meme on Odin, on Spark,
this platform is still great with their one, their two user experience and low cost.
People enjoy their Bitcoin memes. But, you know, most of them believe we cannot, let's say, deliver the comparable user experience on Bitcoin layer know that is not right.
We can deliver user experiments that comparable with Ethereum or even Solana directly on Bitcoin layer one and bring meme coin activity, economic activities back to layer one is strategically important for Bitcoin.
So all this, those ideas lead to the birth of Sassman.
And presenting Sassman also means
a strategic pivot for the community itself. itself, the transition from an infrastructure provider to the consumer-facing Bitcoin DI
provider.
And also, we need to be adaptive to refactor our cost structure and organization structure to better fit the
need of this new strategy. Because now we realize that great infrastructure cannot, let's say, create value for people directly, but great consumer-facing DApp can do this for the users and for Bitcoin ecosystem.
ecosystem. That's all from me. Please keep an eyes on Earth from the internet. Thank you.
That's all from me. Thank you so much, Louis. And I know that part of the standard process for any startup that wants to survive economics for more than three months, it requires some foresight. And I've always been very proud for working for this company. This is the company that I have worked the longest for of any IT company. And really, besides myself, I think I've only worked for one other company for this long. Normally, I stick around for what I would consider to be half a business cycle because
it's a little bit easier.
But the maturity at Omniti is really high.
And that means that we understand how to manage a treasury.
We manage our costs very efficiently.
And I think that's overall net not going to change.
So I really appreciate your comments on the subject because a lot of people are not super
confident about the market right now.
But Bitcoin DeFi is still growing. Bitcoin DeFi is still the most secure on-chain DeFi you can do. Block Reorg on Ethereum has happened, I think, what, four times
more than on Bitcoin or something like that. So there's an obvious delta that Bitcoin's block
security is higher, and Bitcoin was always the chain to come home to anyway. So I was always
proud of our decision there. And I think that a lot of people in crypto right now are thinking
about their approach to product differently. And I think that Omniti will call itself more of a
product studio in the future because there is so much great infrastructure that we've already
deployed today and there is so much more to do with it than we're doing today so i'm looking forward to more of those steps coming online from testnet i'm
looking forward to more announcements from us coming up in the uh next month in january and
later this month also uh but at the same time this is always an ama this is our community call culture
is that we don't want to leave any stone unturned. If there's anyone here who wants to raise their voice,
or if you've made it to the end of this recording,
please feel free to leave your questions in the replies to this spaces.
I know that we've gotten some different questions from folks in the telegram,
but we're happy to support those questions.
We just need those folks to ask.
And don't forget, we also have our support channels on oc so if you are a not
twitter person and you somehow managed to hear this through the grapevine please don't forget
to find us on oc.app where we have multiple support channels for our different products
and we'd love to get your feedback there so if anybody has questions or interests or comments
they want to make about bitcoin Eco or about ICP Eco,
please feel free to request the mic. I know that it is maybe not the most inspiring month in Bitcoin.
If you are looking at fear and greed charts, I've heard some people say this is the furiest fear.
And I think that some people who are smart are probably the greediest greed, which would usually
be institutions at the moment.
They're buying lots of paper Bitcoin.
But in the meanwhile, we'll be keeping an eye on sense.
We'll be keeping an eye on real art on ordinals.
We'll be keeping an eye on runes, not just short name runes in general.
But the tech that we built has done a great job aggregating and structuring data from the mempool about runes in general. And I see that
some products from folks like Leafofifo and other popular runes folks, they're still using these
tools. They're still active conversations all the time, every day, looking at what we can do on
chain and seeing the sort of new value in a wider, more dense, more populated mempool than we used to have. So that's a popular
discussion that I've seen at the moment. Again, this is the AMA section. So if anybody wants to
ask a question, please feel free to write one in the comments or hit the mic button. And I'll just
say that I'm really proud to see that we did not have any exposure to Shai Hulud here at Omniti.
From a security perspective, we are wise enough to not use overbundled, overdependent packages or code when we don't have to.
So I'm very proud of that. And I'd also like to point out that ICP, the stack that we partner with most closely,
partner with most closely has also been making some thoughtful and interesting security steps
forward, including a fuzzing tool, a tool to sort of attack your own apps a little bit more. So I'm
looking forward to seeing more of those kinds of things on chain, because I think that raises the
level of professionalism around here in this new industry. And that means that there is just more
work to do as soon as we find more features and,
you know, find good market fits for Bitcoin products. There will also be
the security aspect of it to keep an eye on. So don't forget to check out the link tree on the
Omniti account. There's a lot more that's been added there, including the docs for Satsman
and the link Satsman.fun. I'm pretty proud to have snagged a cool name on satsman.fun and
don't forget there's also great features happening on rich swap where you could donate those runes
lock up those runes for 10 years or just find something interesting to do with your assets if
you want to park them to ride the bear market out so i think there is a um there is a question that I was expecting. I did have a community member tell me that they were going to come and ask one question. So I was leaving the opportunity open there.
the call and we just want to make sure that folks have a free and fair chance to ask their question.
So I will use my typical send off for efficiency sake.
Questions, comments, concerns.
Sanity check.
Going once.
Going twice.
All right.
Well, thank you so much for joining us for our end of the year community call.
We're looking forward to sharing so much more with you all in January and keep an eye on us through the month of December because there is still more product updates to be had.
Some of them we can't tell you now because verification testing is happening for more than one product.
But Bitcoin will stay busy and so will we. verification testing is happening for more than one product but we call them poor. People that use fiat currency. We call them the core.
We call them the core.
Okay.
Right, like, the point is, if you have the superior asset, it's going up forever more forever right i mean right but i
mean we can all look bitcoin sort of as forever more people that use fiat currency as a store of
of value we call them poor we call them poor people that use fiat currency we call them poor
we call them poor we call them poor we call them poor
We call them the poor.
There's a name for them.
We call them the poor.
We call them the poor.
We call them the poor.
We call them the poor.
