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🎤 The Launch of SatsMan.fun
Recorded: Dec. 16, 2025 Duration: 1:06:30Space Recording
Short Summary
The Omniti Network is set to revolutionize the blockchain landscape with the launch of SatMan, a new token launchpad that promises innovative token distribution and enhanced user engagement through strategic partnerships and gamified features.
Full Transcription
E aí Thank you. Oh Thank you. E aí E aí yeah hello good afternoon hello good morning hello Sheldon. Am I onto you?
Omniti...
Oh, I think I left.
Am I audible from your hand, Crypto Ignite, John?
Am I audible?
Can you hear me loud and clear?
All right.
All right.
Yeah, Omniti Network.
Microphone, test the microphone. allocations all right yeah omni network
microphone test the microphone
all right thanks john thanks thanks mike yeah all right omni i'm just trying to text the wrong microphone
perhaps there is any glitch you bug all right thanks for joining things
okay um if you are still joining us for the first time,
or this has been your usual space,
you should know the norms, how we do the thing.
Just go back to one of the announcement tweet
and give us a retweet.
You can quote tweet if you like,
just tag your friend or two
and make sure you have a valid participation
to what you're doing.
Thanks for that.
Yeah, sure, Chris Techless, thanks for that. Yeah, Kry tech list thanks for that yeah kryptonite did that for us all right hello everyone and welcome to today's twitter space
ema uh it's great to have you all i again our community thanks to all our partners all our
supporters and all our listeners joining us for the first time uh it's been a while since we started
space just last week we did one and we are excited to be back
and reconnecting with all of you.
So today we are honored to host
one of the most land breaking project on the ICP and beyond,
which is the Omniti Network.
It's not our first hosting them,
but we are privileged to bring them back on stage.
They've been doing a remarkable strides in the ecosystem
and we will be diving into their vision,
the ongoing development about the SatMan.fm
and the community are looking forward to the next thing
about the SatMan.fm because it's new
and we don't want to know much about it.
So if you've been a curious mind about the roadmap,
about SatMan.f.phone this particular discussion
is ready for you we are going to give you the first and insight into what exactly they are
doing currently so as always this section this email is for you all feel free to drop your
questions engage with the conversation and make the most uh the most of the live interaction. So once again, thank you all for joining us.
Omnita Network, thanks, Mr. Sheldon, for this privilege.
We're glad to have you back with us today.
So welcome to the space.
Let's get started.
All right, that is Deepaw representing Isopage Space.
Once again, yeah, Omnita Network, can we hear your voice?
Can you test the microphone?
Testing, testing, can you hear us? Yeah perfectly you are very hard to brew sir welcome thanks for
joining us sir excellent thanks for having us on for another spaces yeah we're excited to talk
about the launch of satsman and you know the market might not be the most excited about launch
pads right now but we think launch pads don't go out of style. So it's always a good time to do something interesting and new.
Definitely, definitely.
Right, everyone, we are up next to the questions
we have currently before you drop the microphone
for the community to have the questions.
To start with, can you just walk us through exactly
what the SatMan.4 is here to do?
We have the Omniti network, we have the Reach, we have the omni t network you know we have the the reach we have
the ua txo which you developed recently but now we have the site man so what is that the
search man how can we know much about the project all right so about to you sorry i lost the audio
for the back half of that question.
I'm getting a little nervous about the spaces already.
I'm just trying to ask about the science man dot phone.
I mean, the particular, I think the launch pad, so you can just give us a walk down to
what exactly EDAC has to do with the community and what it has to do, what solutions, I mean,
promise comes to solve just like it
worked down to the project entirely okay so i think everyone in this room has heard of pump
fun before right this is the most popular fact in the world right pump fun um is known to have lots
of uh that are considered a problem um easy example, if I make the pump token right now
and it's very successful,
you guys can also go make the pump token right now
and lots of people who are looking for my pump token
will find your pump token, right?
Rune solves that at a protocol level.
Only one Rune can have the same name.
So that's one thing that's different first.
The second thing that's different first. The second thing that's
different is the way that distribution is received once you succeed in a community investment.
When you graduate from PumpFun or you go to Valhalla on OdinFun, these distribution processes
are almost instant. You have to really be watching that market. And then bam, that market goes live.
Satsman.fund is different because it's scheduled. It's sort of streamed. So there used to be
something that was more popular called streaming IDOs or streaming initial decentralized offerings.
That's very similar to this because when you go to Satsman you you find a name that you like and you reserve it you'll find out between
what blocks will that um rune pay out that means that whoever's investing sats in that opportunity
in that community they're going to um you know they'll they'll have a a period of time where
they are distributed fair shares of runes instead of just oh okay you put in some tokens
and now it's counterbalanced because a whale came in and put in even more tokens you're going to get
less for your investment you know instead of getting uh crushed by success there's a fairness
and a rebalancing that comes just naturally by however many people who want to invest divided
by the number of blocks that result in a payout.
So during those blocks,
each person who's involved gets a fair share.
And that means that you get a portion
of the fair share for each block, right?
So that's already different than most launchpads.
Now, the final mechanic that I'll discuss
before we get into more questions about it
is the runes and the reveal themselves.
It's just that the way runes work, you always have to make an initial transaction and then a reveal transaction.
So the first transaction that you make to put that runes metadata on chain, that is what lets you claim the runes name so if you do that
in advance that means that you can reserve that name and then by the time the block comes when
it's actually eligible to be etched based on the runes protocol you're already there you've already
made the reservation and by the way you get to hold it as an ordinal so it's kind of fun to to
see it in your wallet and have a few to collect
because I get to have these sort of domain names, these runes names. I get to have these in my
wallet right next to my PFP, right next to my weird bit of inscribed code. It's very handy to
have it sort of all in the same place. So the property of seeing your runes in advance and
wanting to start a rune and planning a business
or planning a project you know even planning a meme coin there's a lot that can be done in that
short period especially when you can tell hey roughly around this time guys as long as you
have your sats you know scheduled around this time then you'll get the distribution i think
it's much easier especially for global teams or
global concepts to say, hey, as long as you are there around this time where you put in your
stats beforehand, then you'll be part of the endeavor. You don't have to get caught up and
then stay glued to the terminal and get red eyes and get miserable, stay up for three days and
hope that the bag doesn't go away. There's lots of bad stories about pump fun where people are run very ragged
because they're trying to keep up with that market.
So we think we're scheduling that market for them.
All right.
So that's just like a wrap, an overview for what we have today at SatMan.fun, a launchpad for BTCL1 meme coins.
So now, SatSidum, I saw it's Logan while I was trying to make some research about LChain, Smart, Winning B, or Get Your Sat Back.
What exactly does that have to do with, you know, what we have to do is about the funding mechanisms or like a bidding
that I don't know can you just walk us through that too yes so let's say you
know a certain word or phrase becomes popular today right there's a rush to
to hold this word I don't know if it's Trump or it's banks or whatever it is. It could
be any word. If this word becomes popular, you know more than one person will try to etch it
on Satsman. More than one person will hope to claim the opportunity and do something with it.
So Satsman doesn't just let you walk in and immediately reserve it cues that reservation
and you reserve it based on how many sats per byte you spend just like any transaction in the
mempool so that means that if there's an incident on tv right now and we're all watching tv together
or watching a live stream on instagram or whatever if we're watching something right now
and the whole world says okay we got to do, then that's the mad dash. That moment is when someone is going to put that reservation into a Bitcoin block. So if you and me both go in and I pay 50 sats per byte to get the rune in, which means I'm probably paying a total of like $5 or something like that for a small rune, a short name rune.
If I pay that amount and let's say you decide that I've got some Bitcoin lying around, but
you really want this name, then you bid higher than me in the short term to make sure that
you get the reservation.
And then let's say you succeed in the reservation, to make sure that you get the reservation and then let's say
you succeed in the reservation i'll get my sats returned because the um the initial etch the the
step before the smart etch didn't succeed for me so you'll see also if you look through the sats
manui that there's a note about savings because there is some really cool back-end optimization
that happens to make sure that these etching transactions are very affordable and handled
very quickly. And a lot of that is thanks to the Bitcoin full nodes on ICP. We always talk about
that because that's what makes our work possible. And ultimately what that means for the community
is that when you're competing on that name reservation, when you're trying to be the first to get in there and get that name,
you just have to choose to pay more sats per byte than your neighbor.
This is always how the Bitcoin mempool has worked.
If you want to go first,
the Bitcoin network has to see your transaction is the most valuable.
So we're taking that system and just using it as the core of the sort of rush
to reservation.
And then after that reservation is completed, then you have plenty of time between then and the reveal blocks.
Right. I just think I'm trying to learn some new new stuff about BTC mimpos exactly with the sax man launchpad i saw something again about zero in
winning you know in use legs unknown i know what that means because i've never ever interacted but
i just tried to scroll around that so can you just give us a kind of overview to that too
that too.
Am I still audible?
Can you hear me, sir?
I lost you for a second there.
Sorry.
I think you were asking about the different categories.
Yeah, definitely.
About the zero in, winning, the use, lazy, the unknown, those categories, how those
DABs operate, the functionalities yes so that's part
of that uh sorting of the race condition that i uh described earlier you know if all everybody in
this room right now piles in and and we all try to reserve icp spaces as the the rude name we all try
to do at the same time then some of us are gonna succeed and move forward and some of us will end up zeroing out and will be refunded.
So I think that's the easiest way to describe it is that some reservations are not going to turn into etches,
but you have to start with the reservation.
So afterwards, there's always that sorting step to decide, hey, is it going to be etched
or will somebody else just take this record and sort of negate it?
We think this is much more fair than a pump fund where you have to pay a certain amount of sold to start or you have to prepare liquidity in order to function because you're just paying with your Bitcoin for data on Bitcoin.
There's no liquidity game.
There's no incentive for us to you know steal your
liquidity or take advantage or anything like that and um you know that's a that's a different game
for launchpads because most launchpads are based on volatility and assume that lots of people will
lose money um we think that as few people should lose money as possible in a launchpad and that's
why we built these categories on Satsman
to demonstrate, hey, you can try to make a reservation
and if it doesn't work out, you get your Sats back.
All right, so I saw new faces joining us for the first time.
That's great for our 60 members.
You can just still give us a follow up
or give Amniti Network a follow,
give us a space of follow.
Going back to one of the tweets for this particular EMA
and just try to make some retweet.
You can tag a friend or two
and just make sure they join
us that's just the norms that we do here thanks for that we appreciate that all right um sarah
sherdon i still have some questions for you here before i drop the microphone um for the community
i want to believe they have one or two to ask you now how about uh i would it? Once a rune is out by the satman.phone, how is it associated
the image linked to it? Is it that inscription or metadata or something else? How does that
also operate? For every rune that was out on satman, the image associated with it, is
it just like a metadata or like an inscription attached to the profile
so it's both um every rune has to choose visible uh divisibility there has to be um a sort of
minimum viable number um it's a little bit like the opposite of uh ethereum tokens like you you
know you can pay somebody uh maybe like a thousandth of a penny with USDC, right?
Runes don't work this way because it's too inefficient to calculate the fraction of the fraction to give you that, you know, very small number.
So instead of having numbers, so the default is, I believe, 10 million with divisibility of three.
So that helps assure that you have an odd number
and therefore things can move back and forth easily. There's always this sort of like remainder,
but the metadata overall is inscribed and that image that you put into the rune,
it will auto-populate. So if you're very successful and you see yourself carrying this rune into a business or a project in the future,
just know that that image that you put in the logo field, it's going to appear on multiple products and platforms.
If you take it to Magic Eden or you take it to some other Bitcoin decks or some other Bitcoin centralized product,
centralized product they will all see and recognize that image so the easiest way that i can point out
they will all see and recognize that image.
this truth is to sort of experience it for yourself if you go on runescan.net you'll see that's the
explorer used for our re-based products that also includes the data so if anybody is registering a
rune or a product the data will show there And you can see that just by checking your wallet.
Right, runescan.net.
That's gonna be a good explorer too.
Exactly, I got that.
All right, yeah, the ongoing,
I saw that you launched some meme coins
exactly on the satman.phone.
To the layman that is listening
to this particular discussion,
what can we do
currently with satman.phone is it to mint some you know inscriptions to mint some domain names
is it for just meme coins is it for i don't know the launchpad and a simple definition that for
people that are just listening what can be done what activities interactions can be done? What activities, interactions can be done currently with Satman.form?
So the main thing is reserving names.
I'm very proud to have the Omnini Network name.
I think that's awesome because I get to make sure
that I'm early.
You are much earlier to the call.
I won't understand that.
All right.
Yes, yes yes so reserving
names is one there's one other the besides oh sorry can that be treated what are the market
places for that ah so um any place that buys and sells ordinals can be used to exchange the name
that you reserve so if you reserve a name and you think that it's
completely valueless and you want to burn it, of course you could send it like you would send any
ordinals to the dirt. But if you think that it has some value and you want to give it to your
friend because your friend says he'll make the project or he'll keep you on his advisor or
something like that, then it's a good reason to hand it off to somebody else. So we like the property that it can be passed around, right? But aside from creating the names, the next main one is to,
you know, to invest your stats in another opportunity in someone's smart edge that's
going to be revealed. So if you put your stats into those opportunities, there's always a certain
amount of runes you receive back. The catch is if more people come in after you, that changes the average, but it is still an average. So instead of pump fun
where, you know, you can bring one soul and I can bring 10 soul and I get 10 times more than you,
there is multiple blocks over which to decide that usually more than 50 blocks. So there's, you know, at least a day or more where each sort of streaming IDO or launch of the rune will give you time to acquire a small amount of the rune. if I outbid you by 10 times capital. But if that same thing happens in Satsman,
there's a much smaller rate
because it's divided over time.
And anybody can participate in that
while those blocks are still being finalized.
So there's a much different mad dash to the finish line
that also is safer for the rest of us.
for the rest of us.
Yeah, I saw a post, like a tweet from someone
that minted an inscribing name as low as 50 cents.
Is that true?
Is that just cheap?
I mean, like I think it's six, seven, yeah,
for less than 50 cents.
Yeah, I think most people are used to inscriptions being very expensive transactions, and usually they are.
So this is a part of our tech.
Okay, all right.
Go ahead.
Yeah, yeah.
So this is part of our tech to make the creation of the rune more efficient.
So the old style of inscription and then reveal transaction, it still works.
There's nothing wrong with that.
We just modified that process slightly so that the launch of the token itself or the
sort of reveal of the rune, that's a PSPT scheduled later. This is one of the main points
of value for the rune's exchange environment. Because we're using ICP as the compute system,
and we're taking all UTXOs, all coins, all data, and sort of dialing it down to the same
core material, that makes it much more efficient for us to make these transactions in partial.
that makes it much more efficient for us to make these transactions in partial.
So as BSPTs, as partially signed Bitcoin transactions,
the etching activities are competed by the platform.
So that means that when you're etching on the platform,
we know that you've already come to the website.
You're already trusting us to help you out.
You're already paying the Bitcoin fees directly to the Bitcoin L1.
So there's no reason why we can't just pay some of those fees with you and streamline the process.
So by breaking it up into smaller pieces, the transaction is cheaper for everyone.
And that's something that we hope people will recognize.
Even if statsman.fun isn't the most popular launchpad because it's not the sexiest time to launch a token.
We recognize that.
The tools that are used to make it work, the backend tech for it is really something special to be able to do runes and ordinals on Bitcoin for just a few dollars.
Yeah, I think a fraction of initiation about that can make it somehow more popular because you can just interact with Lexa feeds compared to some other launchpad that does the same thing. All right.
So, yeah.
Is there any hidden charges, you know, other than the one for the Bitcoin network fees?
Why are you trying to edge?
Well, everything is really around Bitcoin here because although we're using ICP as the
backend and we're using the Bitcoin nodes on ICP to stay aware of Bitcoin and to see what's happening on Bitcoin without running a very
expensive full node ourselves, ICP is really just the back end infrastructure that makes all this
possible. So there's not really a hack, like you're not logging in with Plug. You know, you don't need
your internet identity to use this product. You do to have sats ready in a um available wallet so i think we're supporting okx experts
unisat to start and we should have some more coming um we prefer to support a few others
like leather to support those in the stacks ecosystem but these are the three wallets that
work best with psbt and that's the the tech that makes this possible
right sir thanks for that uh it's impressive lastly on my parts before i bring some people
up stage to ask the questions i want them to ask around these particular questions i mean there
should be some roadmaps like you know what you expected to have around Satman.fun. It's still new, it's still a little development,
but what are the long-term visions for this launchpad?
They have plans for leaderboards,
marketplace, and community futures,
wanting to integrate with all the BTC ecosystem.
You can just tell us a little bit about
what you intend to do for the next year.
Yes, so the next phase in the launch
will be permissionless launching.
So PumFun also did this.
OdinFun did this.
Most launch pads do this.
You sort of, you know,
keep the shackles on temporarily
while we make sure that everything's working normal.
So we're in the sort of, you know, initial launch.
We do call this live,
but permissionless launching is not quite available
yet. We expect that's going to happen either this month or next month. And that means that anybody
can reserve and launch. Right now, anybody can reserve, but because we're still working out the
last security details of that automated liquidity provisioning, we need to make sure to get that stable and steady before we bring just anybody
and any asset into the launch. So that's another feature about this that I didn't mention.
People on PumpFund or OdinFund, they're used to that graduation, and then bam, the token is
trading. It's on a DEX. It's got liquidity. So that's the same thing that we're going to be
offering through RichSwap, which is the first open source runes decks and other product of ours. And that means that shortly after Satsman permissionlessly goes live, there will also be just liquidity pools built by Satsman on RichSwap.
means that anybody who's working with Bitcoin will see that this all happens on Bitcoin,
except for a small amount of the compute that happens on ICP. And we think this means that
there's a much larger Bitcoin audience that is interested. They don't need to know it's ICP,
they'll find out. But we think that the importance of the product next, besides the
permissionless launching, and the sort of proven and tested
integration with the RichSwap runes decks, the next thing is going to be to integrate it further
across other platforms in REE. So there's other games, there's other dApps on test it right now
that are for vaulting that have incentives like high APY and, you know, different accrual
mechanisms that help people earn for their time
and earn for their sats.
So we're excited to see Satsman integrate with RichSwap,
but RichSwap is the doorway to everything else
that's about to launch on REE.
So we're excited to see more projects launch with our tech,
and that means that they can work together
and make nice benefits for us.
Am I working? I think I lost your audio.
Well, Sachs Saladon from Omniti Network.
It's a privilege to have you around the table today again.
Yeah, I've brought some people. Thank you. Thank you for showing up. Yeah. you
thank you for showing up yeah uh john dixney crystal crypto please until i call you to a
meter microphone please don't do it so that might disqualify your seat at the top steps so please
yeah john i think you have the first speaker just open your microphone and ask a question thank you
speak out just open your microphone and ask a question thank you okay um yeah i am hold the
do you get it i can't hear with the echo i'm sorry did you hear it i think you have
some lots of echoes john you have some of the echoes on your phone can you just retry that
my question is what are the benefit or utility you guys offer to creators and participants who come to
sacks.com to either click buy or sell or rent on the platform hello john
i couldn't understand the question sorry sir it is together can you can you refresh that
a little more you know concise so that
we can just pick it from there okay i said what are the benefits you guys offer to creators and
participants who come to trade or swap um real nfc collection of the platform okay i think it's
trying to ask around about the benefit of interacting with um satsman.phone what are
our attention to benefit doing that yes sir ah so there's there's a few different ones um my favorite
one is that you get to participate in a pool of sats so when you want to make your bitcoin private
you go through something called coin joins that means means that you are going into a pool with other people, you all put your sets in, and then you take your sets out,
and everybody has different sets, right? This is a known thing because of the UTXO model on Bitcoin,
the unspent transaction model on Bitcoin, that you unfortunately can't wash money the same way
that you might use that for security, like tornado cash. It's just not possible.
When you use Satsman, you can see the history of your sats.
And you can also take advantage of being part of a pool of other people's sats and recover them.
So when you put your sats into the platform because you're reserving a name, when you get your sats back, they are still your sats.
They are still yours.
They keep your identity, everything. When you go into a pool because you're reserving a share of
the runes that will be available during those blocks, you're going to receive back satoshis
that have the runes in them. So that means that although you will not handle as many satoshis,
you will still receive some back because that's how Bitcoin works.
Bitcoin operates on its own currency only, right?
So those runes are built on top of those sets.
And that means that as you use the platform, you are actually getting some of the, let's say, provenance benefit from other people who have coins.
benefit from other people who have coins. So if I bring green or clean Bitcoin from a very,
very expensive institution, and I put it into Satsman, somebody else receives those coins,
and that pool is marked as more trustworthy and more secure because someone brings those coins.
Now, could someone also bring coins from a coin join? Are those things less secure?
Well, arguably, no, I don't think their
security is lower at all. But their trust might be lower. Someone might be a little bit more nervous
about where they came from or what they were used for previously, because this is the truth about
Bitcoin. It is designed to replace central banking. It's not necessarily designed to replace cash.
That's a long debate that we always have. We wish it was digital cash it kind of became digital gold that's a
different debate the um the point i mean is that you're always going to get new stats out and when
you put sets in um there's always a um utxo benefit for you so normally when you handle runes this way
like if you were just to you know use your electrum wallet and put in some scripts and etch yourself
some inscriptions in a rune um it would cost you a lot more Bitcoin.
So you would spend a lot more Bitcoin to do the same thing, roughly 10 times more.
And also there's a larger chance of issues.
So because you have our error correction, there's a guarantee that you will not lose money.
You either get to participate in the protocol or you get your stats refunded.
We're very happy about that.
Ouch.
When being and getting your stats back.
So you have to do one of the three.
Yeah, definitely.
Yeah, thanks for that, John.
It's a very nice question.
All right.
This thing, I think you have the flow now.
Your question, please.
Yo, Jim.
Yeah, Jim.
Yeah, glad to have you around
yo um there's a quick one here um i've worked with a couple of projects as a mod and there's
this certain question that keeps coming up especially a project like this um you said
something like you're bringing mem coins to you know you're launching mem coins under you and um
you're bringing meme coins to, you know,
you're launching meme coins under you.
And I just wanted to ask,
what are lay down precautions like lay down protocols
that those meme coins need to pass through
before we know that the security of the meme coins is tight?
Which means when we are investing into those meme coins,
we know since those meme coins are from Satman,
we know there's nothing like we're losing our money.
We know we are putting our money in a safe place.
All right.
You get it, right, sir?
Yeah, yeah.
Very clear and honorable.
So, yes.
I think there's a nice power to having Bitcoin here because Google already understands Bitcoin wallets.
So if you search somebody's Bitcoin wallet, you can find if they've launched on Satsman before
because they'll have a page on Satsman. So there's some different identity properties that make
things easier here. On PumpFun, people use usernames. The troll box, it's very hard to
find if somebody creates a coin and then dumps it and leaves, they could pick a different username, they can change their address, right?
on satsman yes they can get away with it because they'll fall into the typical category of meme
coin processing you you know raise up the interest and you try to you know get people to participate
in the protocol but the um the property of bitcoin and saving the addresses on the website
means that nobody could do that from the same wallet twice without you recognizing their history so on pump fun i think
this is also managed by profiles now but profiles attached to a wallet attached to a username
we think this gives people more room for confusion um in satsman it is only the wallet address and
each launch has its own metadata explanation with it. So if somebody wants to launch, let's say,
one token that's genuine and is a real project, and one token that's malicious and is just totally
valueless and nonsense, it's true that that can still be, you know, misconstrued or misidentified
as two valuable projects. So we don't have the sort of centralized launchpad, you know, technique or style.
I think that some centralized launchpad, they spend more time to sort of curate the opportunity.
They just, you know, they spend time personally with the project.
They review them.
Sometimes they have them sign legal documents.
You know, we're a very decentralized company, so we don't pursue this method.
But I can tell you is that today permissionless launching is not available.
This is part of why we're being cautious to protect it and make sure it's a secure process.
But when permissionless launching is available, you'll have on-chain identity and the combination
of the rune's name. So remember I was mentioning before that only one rune can have that name.
That is the most important feature, in my opinion, that we're
borrowing from the runes protocol or utilizing from the runes protocol, which is just that you
can't start two different runes with the same name. So I remember multiple other launchpads
have been crushed by this opportunity where someone tried to create dog or something else.
opportunity where someone tried to create dog or something else and yeah I think that by having
just one name for one rune it saves a lot of the pain. That's nice because yeah you're good to go, man.
All right.
Thank you, Disney.
I appreciate your question, sir.
Thanks for that, Disney.
I appreciate the question.
All right.
Christa, I saw you last week also.
Thanks for joining again.
Yeah, you have the floor now.
Your question, please.
Wow.
I see, Nick.
Wow.
Glad to have you, bro.
Can I just have a microphone, please?
Oh, it just disappeared heron nick yeah that's nick from uh how do i put it from ai keen yeah thank you for joining us all right crystal your question you have the flow yes course style clear btc
go once or twice yeah yeah yeah good mean are you how under blue can we hear you
all right you have the flow can you just send me to microphone and ask your question
is anybody hearing me am i still hold the boo oh i think i can hear you but i can't hear crystal
yeah i think question is not speaking all right i think i have to undervote to kryptonite kryptonite's gamer you have the floor we'll start with back with this question when it's done
all right jim everyone yeah i'm gm glad to have you around thanks for joining us thanks a lot
so my question goes like this um how does the platform plan to evolve beyond meme coin launches
How does the platform plan to evolve beyond meme coin launches?
I came to accept the meme coin business and not to love the meme coin business.
A different era.
I started in 2012.
And when we used to make meme coins, everybody had to run a node.
In order to have the coins or transact the coins, everybody had to run a node in order to have
the coins or transact the coins, you had to run a node. And it was usually a very, very low security,
low quality Bitcoin fork. So I think that I have some in meme coining that is before 2020. And this leads me to see that the core of non-memecoin business on Bitcoin is about user experience and it's about comfort for the user.
because it can prevent some of the larger meme coin abuse,
the kind of things that we normally see where people get confused
or they lose their money because someone raises a scam
while somebody else is raising a very, very popular name token.
I can't remember if it was the peanut token or which one it was,
but at least one of those sort of American social meme coin tokens,
they had a $5 to $10 million mistake where people were
accidentally investing in the non-genuine asset. And I'm excited to not see that because I think
that a history of that or a history of Satsman sort of requiring that one name have one owner
and one winner and one issuer, one etcher, if you will.
That means that we can offer this service to enterprises. We can offer this service to anyone.
It will be permissionless in the near future. So we are, you know, sort of officially offering it
to anyone and everyone. But we think that the initial sort of launching of Satsman
doesn't make a concept a meme.
It just gives it an easy and fast opportunity to launch.
There's a number of different products and services out there that are looking at runes right now and debating how they'll put that into their stack long term.
So that includes the Lightning Network, that includes Spark, that includes the best in slot brc 2.0 so these are all less popular
protocols i i say that they're less popular because runes does more activity on chain and has more
value on chain even with the market low like this as it is right now runes are still the top fungible
meta token meta protocol token on bitcoin so we think that's going to be a useful
tool in the future as an example the orange pill app is a relatively popular bitcoin or social
media app where you can find bitcoiners in your area and you know sort of meet up and link up with
them that is based on nostr so that is a product. If they wanted to have a reward system, or if they wanted
to have a system of account, they could make a token on Lightning, but then the token wouldn't
be transferable to Bitcoin. So they would only be able to recruit people who already have a Nostar,
who already use Lightning for data. And that's very difficult. Runes can be sent to any Bitcoin
address. Even older Bitcoin addresses can receive runes.
They might not be able to send them because they are not cryptographically prepared for SegWit transactions or for Taproot transactions, but they can receive them.
So we think that by having the meta protocol that is the most popular that can be used with any Bitcoin asset, we have a much larger scope than meme coins. For example,
I expect that US government offices in the near future will be registering more of their Bitcoin
addresses with the public as part of proof of reserves. So I would very much like to send them
a rune that says Chancellor Brink of second bailouts, right? I could send them just a few units of a rune that
have in the metadata, the inscription from the first Bitcoin transaction as an example of why
we started all of this. So I know that's a very esoteric use case, but runes as a data storage
and data send and receive mechanism is a known thing. And i think we'll see runes as a unit of account
for different bitcoin apps in the future uh getting to reserve that name first on satsman
especially for such a low price i think makes satsman a really appealing place to start
100 yeah thanks for that that's quite impressive and at least we have some new new um ideas about how satman you know operates
like kind of the main pools and the security around the main coins thanks for that yeah nick
is still around thanks for that thanks for staying with us all right um crystal are you around are
you close to your microphone now or we jump over hello yeah probably thanks for having me again all right thank god um so my question is so satman
can satman cannot hear um remain can you be can you be more audible please can you speak more louder
all right yeah so can satman can satman launches remain bitcoin native while interacting with other chains by ominity
you get that question um i'm sorry i can't hear it all can you tell me the question
uh it's asking can um taxman remain bitcoin native even while you know interacting with all our uh blockchain or the ecosystem
oh setsman is is bitcoin native setsman you you log in with bitcoin wallet you pay bitcoin you use
uh you know bitcoin as the system so yeah it is uh bitcoin native is it possible to use those
runes on other chains yes it's also possible uh but it's not native it's a secondary
feature the omni hub will let you take any rune to almost any blockchain we have a lot of them
covered right now um but yeah if you wanted to create a rune and use it on other blockchains
that's possible but because bitcoin is the highest security blockchain we think you should always
start that token on bitcoin yeah definitely i
think at this time omni should have their own wallet what do you what do you think
no sir no sir it's a it's a loveless it's a loveless endeavor i i shout out to unisat shout
out to xverse they do great work but bro it is so difficult difficult. Even the team that built Alkanes, the team that's called LaserEyes,
they support OISE and lots of things on Dfinity's ICP.
They are a great and fabulous team.
They developed Alkanes because they needed something to do
because while it's such a difficult business,
it doesn't make very much money and sometimes it's very difficult.
Wow, wow. difficult business it doesn't make very much money and and sometimes it's uh very difficult wow wow because you know you have around a lot of you know functionalities a lot of pro dolls
from reach from uxxo btc you know omni team itself as a model project now we have the science man
thing that should be like a kind of a ledger wallet that connects connects the dot just anyway it's impossible in the future
all right my favorite for this is okx by the way if you're taking your runes on multiple chains and you want to keep track of your runes in one wallet on multiple chains okx is my favorite for this
because you can have the ordinal from statsman in there you can have the rooms in there and you can
also you know have the runes as tokens on any other blockchain they they do btc
swaps they used to have a rune swap that's my personal preference all right all right everyone
again i want to say thank you for joining us please just to uh this favor for us go back to
your cl and give omni t follow we need that for you please and also follow isop space and also uh go back to one of the
announcement tweets for this discussion and give us uh a retreat you can still tag your friend it's
not late all right christmas uh you have the floor now your question omit your microphone
hello i'm audible yeah perfectly we can hear you all right thank you very much for bringing me on um all right i have a question for omit network
um i don't know if you guys have touched on it but i just have to ask the question okay the question
is can you walk us through the process of participating in a meme coin launch on sandman
from deposit to trading and also are there any incentives for contributing to the ecosystem
trading and also are there any incentives for contributing to the ecosystem all right
yes so there is um yes it's audible yes so the steps are are really just three steps you're
either um starting or seeing the reservation of the name if you start the reservation of
the name then obviously you know what it is um if you don't know what the name is going to be, maybe you know the wallet of the person,
or maybe you just know that something is coming, that you're expecting something to launch on Satsman.
So you can see that on the homepage.
You can see the recent things that were submitted and that are going through.
So the first step is to either be the name that is etched or see the name that is etched.
The second one is to put in your sats.
So when you schedule your sats or when you deposit your sats, you're saying, hey, I want a share of the runes that are being made here.
Now, when these runes are being created, they're automatically being scheduled to have liquidity pool. So part of your sats are going to purchase runes for you. And part of
your sats are being prepared as liquidity for the rune. So that means that the more people put their
sats in, the more liquidity there will be for the rune, and therefore the higher price the rune
will be. So that second step is just you reserving what runes you can get. But again, the more people that come in, the higher the price is pushed up and the more it divides across those blocks.
So each of those release blocks are the third step.
That's the streaming swap or the stream IDO we were talking about.
So during those blocks, you'll receive some small amount of the runes each. If you are the only person who's investing in that sort of IDO, that Satsman launch, then you get the majority of it. But it needs to have enough Sats to launch the liquidity. I believe our minimum is 10,000 Sats, which is not very much money.
and I think there's a, you know, a showcase that we'll be doing after that.
Maybe we'll come back and do another ICP spaces,
but we'll need to do a showcase after that to show how fast it's going to launch on RichSwap.
RichSwap Dex is an ICP product.
You use your Bitcoin wallet to log into it.
You don't use Plug, but it is built on ICP.
So it's very, very fast.
And that's the third step is once the token is launched is you can trade it. You don't use plug, but it is built on ICP. So it's very, very fast. And that's the third step is once the token is launched is you can trade it. You can participate in liquidity. If
you think that the token value is going to go down, but you're expecting a lot of people to
participate in the IDO, you can just post your runes in there as liquidity to add to the liquidity
you've already put into the protocol and you'll earn from
it. Rich swap, anyone who places LP for any pair, there's automatic earning that is collected there.
So I think that's the main three steps is either participate in the reservation of a name or
observe the reservation of a name, step one. Step two, invest some stats. If you like the concept,
you decide how much stats you wanna put in.
And step three is you either get your stats back
because the product doesn't have enough liquidity to launch
or it has enough liquidity to launch
and then bam, it's trading on RichSwap.
All right, I think those three stars were massive
and I think it's for a very layman you can just walk through yourself from the three stops you know
breaking it down for us that's somewhat simple thanks for that question
Christmas all right I have Nick's a Nixon or Bakuma yeah you have the floor
please a minute microphone and ask a question. Am I audible?
You are audible.
Yeah, glad to have you.
Okay, thanks for this answer.
All right.
My question for community network.
My question is, team member is an internal part of a project.
So tell us how background of them and how developers are working on this project.
Do you get it?
Yeah, yeah.
So we're a consortium of developers.
We have been building products on Bitcoin for a number of years, but we've worked with lots of different products.
So at Omniti, we have a chief architect.
We've got a few technical people that usually sort of keep the same responsibilities.
But everybody at Omnity is a developer in some way.
Even the people who do technical support or me, sometimes we feel like writing some code.
Maybe I'm not very good at it.
And maybe sometimes I make silly choices in my code.
But I'm a security guy.
My job is to break code, not to
write it most of the time. So at Omniti Network, we've got our founder, Louis Liu. He's very famous
in China for decades of supporting IT infrastructure and unique IT innovations. We've got our chief
architect, Julian Sun, who's been our architect at the research group that started our company
called C.Dot Technologies. And he's been learning and teaching different folks at our dev shop for almost 10 years now
and under that there's a number of different team members you can see them in support channels you
can see them on the the github but we prefer not to share their names because they like to focus on their work. They're not anonymous, but they don't have their names displayed as strongly on top pages
anymore because they want to focus on their work.
They don't want time on Twitter like we take.
But these silent contributors who are not anonymous, they all work directly with each
other and also with Julian and also
with me and also with Lewis and other support personnel that you can find just on OpenChat.
So we all work together to teach each other. And that means that if someone here is stronger on
Bitcoin than somebody else, then we usually teach each other, hey, I learned how to inscribe this
way. Hey, I learned about this PSPT format, things like that.
So in short, we're a group of technical people
and we teach each other so we can all raise up
and become stronger.
But that also means that some of us
who are a little bit less focused on go-to-market
and less focused on Twitter, like their privacy.
And frankly, I'm a little jealous.
jealous that used to be me so maybe I can build something cool and disappear
That used to be me.
So maybe I can build something cool and disappear.
just joking just joking bro
okay IK Web 3.
GM, everyone.
GM, GM, the question, please.
Okay.
Okay.
Are there any plans to add any gamified elements or maybe some fun elements like leaderboards,
achievements, or creative challenges directly on the Satman platform, like to make launch and participating in the L1 meme coin more engaging and more fun.
So we're taking product feedback now on this sort of thing.
One of the requests we got was to create a troll box
to make sure that every point
has a place where people can communicate.
Right now, that's open chat.
Any rune that
automatically graduates
will be given a chat.
Oh, I'm running.
Oh, heck.
I'm here. I can hear you. Can you hear me?
Shit.
Test, test. Can you hear me now? Yeah. Audibly. I think I lost some connection. I'm back now.
Back now. Yeah. Okay. Okay. Yeah. I think he was asking a question. Do you get a question from
IK Web3? Yeah. About gamification and larger social features and leaderboard.
Yes, so the truth is we're accepting feature requests.
We're accepting product requests for these.
We have something in mind.
We do like the idea of a leaderboard.
We think that reputation is also valuable.
So if somebody creates lots of rune names and they don't market them or they don't use them, their sort of time to etch comes and goes, we think that's not particularly valuable.
So I think over time, that's what you'll see is a sort of stars, you know, five stars for somebody who only reserves the names they want to build with.
And they really build that meme coin, you know, serial entrepreneur.
Sometimes that's a bad word.
We think that's okay, but obviously the context is,
are they extractive or is it contributing value?
So like we were discussing before,
this is a little bit more of a centralized platform launch.
This is like a centralized choice to say,
hey, we learned that Bob, you know,
did something bad off chain, and we're not going to, you know, elevate his launch next time.
We don't work like this because we are on chain oriented. But that means that we have to have
some sort of reputation long term. So ratings, leaderboard, troll box, these are the main
features that were sort of focused on in the short term. But we want to hear from you if you have ideas about what you want to see in the long term we're interested
all right thanks for that so am i still hold the book am i i'm gonna lost it all right thanks for
that all right uh santa sander close that should be the last question before ready of his and already our guests will be good in some way soon
hello I'm audible yeah perfectly eyes my question is what makes that smart
different from all that beats going to Kun lunch pad okay that's a good one sure sure so the the stream swap the fair option to get a share of
the available runes as they come onto the market this is the the real difference so there is um
the name reservation which we think is also different than other runes launchpad because
even on odin fun if you go to etch a rune the same way that you would on
Satsman, you'll have competition from other people who also want to etch the same rune name.
And those people don't have a record on the Bitcoin L1 while they're competing.
So it is possible to have competition about a name on certain runes platforms. On the Satsman
platform, the rune name is either acquired or it's not it's dependent on
the bitcoin mempool so um that's the the main difference i think is the the streaming delivery
the you know block per block payout of runes uh the other one is names reservation because it's
on the bitcoin l1 i'm not sure if i mentioned that you get to hold an ordinal so like if you
reserve the name you get an ordinal for very cheap sometimes less than a dollar that says the name
of that rune and has that metadata if you just want to have an ordinal of an image that's less
than 200 kilobytes feel free to etch it as a rune maybe you'll decide to do something with it later
yeah i got that and merry christmas sir yeah sure thank you I think I mixed out on one let
me screw around roughing yeah run by AI please your question quickly please thank you it's almost three
all right run VAI can you meet a microphone please and ask a question we are most
true done already crypto savvy I saw you right I don't know what to do I mean we
I guess it's rushing some way I don't want to take more questions please please
I understand you all right crypto run VI
can you
audibly how do you intend to adopt adopt a non crypto users to your platform and
also are there any marketing strategy to reach out to my speaking English continent thank you okay
you can meet you can meet all right sure all right so go ahead yeah i think we got it i think we
understand um the truth is that this is a uh product for bitcoin itself so we think the the
main place to recruit is not the runes and ordinals
ecosystem. The main place to recruit is regular Bitcoin or it's institutions that hold Bitcoin and
may have some value for this. For example, if the US government had all of their Bitcoin that they
seized from the Silk Road, which is arguably stolen Bitcoin, if they wanted to do something with that Bitcoin, I can't stop them.
It's their Bitcoin. Now they hold it, they control it. I can send them runes in protest. I can send
them runes to junk up their wallet. I can send them metadata by sending them runes. So I think
that's the main point of recruiting here is that this launchpad has the ability to reach regular Bitcoiners no matter where they are. Many other launchpads, you have to take extra steps to be able to reach that point. For example, if you are launching a token on PumpFun, in order to get it to the point where you can send it to somebody else, you have to graduate.
send it to somebody else, you have to graduate. So with the Satsman product at each step of the way,
you can send something. If you want to reserve that name and then send it to somebody else
because the name is an insult, well, I think that's a creative use of Satsman and I don't
encourage that. There's lots of silly games like that that Bitcoiners always learn to play with
what's possible and not with what's curated or intended. So I think there is a strong property
of being able to recruit from any Bitcoin wallet.
When it comes to recruiting
and growing the product off-chain,
we're mostly focused on growing the product on-chain.
That is the true answer.
All right, all right. Thanks for that that you really appreciate you all right
for that's a wonderful uh section with omnity the rich swap satman.phone you know i've like a trapper tight product and a single folder you know i mean it's amazing to see uh a group of you
know oriented developers you know blind-minded who are just you know pushing the boundaries from
omnity network to rich swap now to sartman so i mean it's impressive now you can go back to
sartman.com you can see on the top of the screen they we have there, just go there and make some interactions. You can make some unique names for yourself
on the BTC network, I mean, L1, as low as 50 cents.
I mean, that's low as 50 cents, that's impressive.
We cannot take more questions, please.
I'm sorry, STC for requests.
I cannot take that because our guests
will be rushing out somewhere.
Now we could have, you know, bring some of you upstate,
but I'm sorry.
Please stay tuned to tomorrow.
We're gonna have a very big event tomorrow,
possibly this evening, very massive big event.
So just make sure you're following
and you have your notifications on.
Thanks to all the questions we have today.
Thanks to all the, you know, the suggestions, the ideas.
It's a good long way to, you know,
to shape on the direction of the project.
So thank you, SatShare.
Any other word you want to do all to chill out for us,
you know, like what you forgot to mention,
like, you know, saying bye-bye,
at least maybe a few lines before we call it a day.
Yeah, yeah.
Thank you so much for having us.
And yeah, we're excited to fully reveal
and fully open the permissionless launching of Satsman.
For now, we're still doing permission launching,
which means the sort of full features aren't available.
But in the next week or two,
we'd hope to launch the permissionless properties.
And that means that just like any pump fund,
you launch a token, it shows up on a DEX, you can trade it.
So we're really looking forward to that.
And we need your help to make sure that we get your product requests and make it nice and
smooth so we're going to keep trying to optimize user experience and keep everything fair on chain
and interesting but we need y'all's help to do it so please give us your feedback and thanks again
for your time thank you definitely all right so follow om follow Omniti BTT. You see like, you know, there is an account for the Satman. Once you follow Omniti, you're going to see all their code tweeting and retweeting for the particular Satman. It's going to be very wonderful section for us to just make sure the interactions are there. So thanks for joining guys. I really appreciate you. Without you, we don't have, you know, this discussion going. So we'll be open to have more discussions tomorrow, Friday,
and possibly next week to have the new year.
So thanks again.
Thanks, Omnity Network.
Thanks, Mr. Sheldon, for joining us.
So I will meet again on this side.
I want to say bye-bye and have a nice weekend ahead.
All right.
Thanks, everyone.
Bye-bye.
Bye-bye.
Bye-bye.
Yes, Al.
Bye-bye, everyone. Bye-bye. you bye bye bye bye bye bye bye bye bye everyone bye bye
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