"Alpha Mining Series 9" — Odin Fun (@Odin_GodOfRunes)In April of last year, coinciding with the Bitcoin halving, the Runes protocol officially launched. However, as a Bitcoin token standard optimized for BRC20, it did not bring revolutionary breakthroughs in trading experience. Subsequently, solutions such as the Runes order book from Magic Eden and the Runes Swap from DotSwap emerged, attempting to improve the Runes trading experience, but still could not completely escape the limitations of the Bitcoin main chain.However, yesterday, a platform that allows for quick trading and issuance of Runes — https://t.co/fv4VrQ0Il9 — went viral, with its leading Rune $ODINDOG breaking previous highs, quickly sparking discussions within the community.Odin Fun: Runes AMM and Issuance PlatformOdin Fun (Odin, hereinafter referred to as Odin) is a new project launched by Bob (@BobBodily), the founder of the Bitcoin Ordinals marketplace Bioniq, at the end of January this year. It provides a trading market and issuance mechanism for Runes, with key features:🔸 Introduction of AMM mechanism: This allows users to quickly trade Runes, add and remove liquidity, providing a trading speed comparable to Solana.🔸 Runes issuance mechanism: Users can create tokens simply by filling in the token name, ticker, project description, and image, similar to the Bitcoin version of https://t.co/PWxwXE0P38 (a leading meme coin issuance platform on Solana). It is worth mentioning that, unlike other Runes etching platforms, Odin's tokens must reach a market value of 1 BTC before they can be etched into Runes.In addition, Odin will not be limited to Runes and plans to expand to other Bitcoin assets like BRC20 in the future.(The left image shows the https://t.co/fv4VrQ0Il9 platform, while the right shows a traditional Runes etching platform, exemplified by Luminex)How to Use1. Log in through a Bitcoin wallet, supporting Xverse, Leather, Unisat, OKX, Magic Eden, etc., without the need to create a new wallet, which the official refers to as "account abstraction."2. Deposit BTC and wait for confirmation on the Bitcoin mainnet.3. Start experiencing Odin; transactions conducted on the Odin platform within the next 48 hours do not require gas fees or wallet signatures.Transaction Mechanism of https://t.co/fv4VrQ0Il9On the Odin platform, the trading model for Runes is divided into two phases:1️⃣ Bonding Curve Trading: Initially, tokens trade along a bonding curve (y = e^x), with 80% of the supply sold at 0.211 BTC.2️⃣ Ascend into AMM Trading: Once the token reaches its bonding target, the remaining 20% of the tokens and 0.2 BTC will be deposited into the AMM liquidity pool, and the trading mechanism will shift to an AMM curve (k = X * Y), providing more flexible market liquidity.The official has not disclosed specific technical details about the built-in AMM of Odin, but this dual-phase mechanism brings new market dynamics to Runes trading, potentially allowing for a more natural price discovery process for tokens.Why can Odin achieve ultra-fast trading?Compared to other trading platforms in the Bitcoin ecosystem, the key to Odin's ability to provide an ultra-fast trading experience lies in its Bitcoin layer 2 solution — Valhalla.However, the official provides little detail on the technical specifics of Valhalla, only stating that it is the name of Odin’s application chain (or Bitcoin L2 technology stack), serving as an "invisible underlying layer" that brings an unparalleled trading experience to Odin:✅ Fast: Realizes final transaction confirmation within 2 seconds, breaking the limitation of Bitcoin's 10-minute block time.✅ Decentralized and Secure: Provides decentralized Bitcoin deposit and withdrawal solutions through threshold signature technology (TSS).✅ Gas-free Transactions: Officially referred to as "chain abstraction," users do not need to pay gas fees (though the platform does charge transaction fees).✅ Elimination of cumbersome wallet signature processes: The official states that through Session Keys, users only need to authorize once, and all transactions within 48 hours can proceed without wallet confirmation, further enhancing transaction fluidity.The combination of these technologies makes Odin's trading speed and user experience significantly smoother than previous Runes trading methods.Transaction Volume Soars on https://t.co/fv4VrQ0Il9, Leading Rune ODINDOG Surges 18 Times in a DayDespite Odin having technical breakthroughs, it initially did not gain immediate market favor. However, the market response yesterday was astonishing:📈 Leading Rune $ODINDOG skyrocketed 18 times in a single day, rising from 20 sats to 360 sats, with a market value surpassing 6 million USD.📊 Daily trading volume reached 15-20 BTC, far exceeding the Runes trading volume of 3-4 times that of Magic Eden, the largest NFT trading market in the Bitcoin ecosystem, indicating extremely high user activity.With the influx of capital, other tokens on the platform, such as $GHOSTNODE, $SATS, and $RATS, also surged, making the Odin platform one of the hottest trading arenas in the current Bitcoin ecosystem.Conclusion: New Opportunities in the RUNE Market?https://t.co/fv4VrQ0Il9 brings innovative breakthroughs to the RUNE trading market https://t.co/PWxwXE0P38 + AMM, injecting some vitality into the sluggish Bitcoin ecosystem.However, participating in early protocols comes with high risks, and market interest in RUNE has yet to fully explode. While Odin may become the next liquidity center for the RUNE market, whether it can sustain capital inflows remains to be seen. For players with a high risk tolerance, ambushing before market price discovery might be the most promising strategy.Other details 🧵(1/3)