Taproot Wizards co-founder: Bitcoin-native token protocol based on OP_CAT in development

Udi Wertheimer, co-founder of the Ordinal NFT collection Taproot Wizards, introduced CATNIP via an X post. According to the post, the new Bitcoin-native token protocol aims to fix the disappointing user experience of BRC-20s and Runes by utilizing OP_CAT recursive covenants. This protocol will support features like partially-filled orders, bids and even on-chain and off-chain automated market makers (AMMs), addressing many of the issues users face with current token protocols on Bitcoin. CATNIP is still in development and will launch once OP_CAT goes live on the Bitcoin mainnet, said Wertheimer.