[AMA] Hi Reddit, we are DualBit. Join Us for Insights on DRC20 Ecosystem and our Mission to Connect DRC20 <> EVM and Arbitrum in Specific!

Hello Reddit!

I’m Unstable Dev the Founder of Dualbit, and we’re thrilled to discuss our latest innovation in the crypto space – the Dualbit Protocol. We’re pioneering a groundbreaking system to bridge the Doge network with EVM networks, enhancing liquidity and fostering the growth of the Doge ecosystem through our Dualbit Bridge.

What We Do:

• Bridging Doge and Ethereum: Our Dualbit Bridge securely and efficiently transfers tokens between the ETH chain and the Doge network, merging ERC20 tokens with DRC20 tokens.
• Our Vision: At Dualbit, we aim to be at the forefront of cross-chain transfers, blending Bitcoin’s value with Ethereum’s programmability to enrich the Ethereum ecosystem with stable, significant assets.

DRC20 – A New Token Standard:

• The DRC-20 is an innovative fungible token standard, using Ordinals and Inscriptions on the Doge base chain. Unlike traditional EVM token standards, it operates using inscriptions of JSON data for deploying contracts and transferring tokens.

How Dualbit Works:

  1. Token Deposit: Users start by depositing DRC-20 tokens into a unique address provided by us.
  2. Token Minting: We then mint an equivalent amount of tokens on the Ethereum chain.
  3. Security Measures: Tokens are periodically moved to a unified cold wallet for enhanced security.
  4. Token Withdrawal: Users can withdraw their tokens, where we burn the equivalent amount on the EVM chain and transfer the value from the cold wallet.

We’re here to answer any questions about our protocol, the future of blockchain interoperability, and how we’re integrating the Doge and Ethereum ecosystems.

Ask us anything!

4 thoughts on “[AMA] Hi Reddit, we are DualBit. Join Us for Insights on DRC20 Ecosystem and our Mission to Connect DRC20 <> EVM and Arbitrum in Specific!”

  1. Dualbit has burned 11,700 moons to rent the banner and host this AMA.

    Transaction: https://nova.arbiscan.io/tx/0xc7dbadfb041de16563fd3c91171e95d2d909ab6b9c4fef1bd34e28e81f9d8520

  2. What are the upcoming developments or milestones that we can expect on Dualbit in the near future?

  3. Does this work with other tokens than Doge when those are created? How will you guarantee the ERC-20 versions of the token have value?

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