- The Bitcoin blockchain has welcomed a Pump.fun-like memecoin project Odin.fun
- Odin.fun was created by the developers of Bitcoin NFT marketplace Bioniq
- Odin.fun intends to allow trading memecoins “at the speed of light”
The developers of Bitcoin NFT marketplace Bioniq have launched Odin.fun, a Bitcoin-based memecoin platform that resembles the popular platform Pump.fun. Odin.fun’s creators intend to use the platform to power memecoin trading “at the speed of light” to allow traders to enter and exit trades before the tide turns against them. The Bitcoin-based memecoin project is among many such platforms cropping up on different blockchains as prominent figures like the United States President Donald Trump launch their own memecoins, something that has helped popularize and legitimize the tokens.
Memecoins Are Etched as Runes on Bitcoin
Bioniq CEO Bob Bodily described the memecoin platform as the “fastest way to trade Bitcoin tokens,” adding that it uses Runes’ automated-market maker (AMM) model. Bodily added that tokens created on Odin.fun “are etched as Runes to Bitcoin once they bond.”
I am extremely excited that it is finally time to announce my new project.
Odin Fun: The fastest way to trade Bitcoin tokens.
— Bob Bodily, PhD 👋 | #BTC #ETH #ICP 🧙🏽♂️ (@BobBodily) January 30, 2025
To bond, Odin.fun-based memecoin must reach a market cap of 1 BTC. He added that the platform offers a 2-second finality on activities like adding/removing liquidity, swapping, selling, and buying tokens.
The platform allows users to log in using Bitcoin wallets like Magic Eden, OKX, Unisat, Leather, and Xverse. Bodily disclosed that users “don’t pay gas fees or network fees” and that the platform doesn’t require an additional token apart from BTC.
Three Tokens Are Already in the Market
To allow transactions to happen at the speed of light, the executive revealed that it uses session keys to improve user experience. With the keys, traders only need to sign one transaction and subsequent transactions will “happen instantly” without requiring signing.
Session Keys
Session keys are a new way to improve user experience by not requiring the user to sign every transaction.
1. You sign a message w/ your Bitcoin wallet
2. No more signing for 48 hours!
3. All txns happen instantly when you click, no wallet confirmation required. pic.twitter.com/sjU3yLBoSH
— Bob Bodily, PhD 👋 | #BTC #ETH #ICP 🧙🏽♂️ (@BobBodily) January 30, 2025
Bodily disclosed that the platform has attracted almost $1 million in volume in less than 24 hours since launch and three tokens have satisfied the bonding curve.
With Odin.fun launching on Bitcoin, it’s to be seen whether the platform will be able to compete with Pump.fun.
