1/10
A metaprotocol for smart contracts on #Bitcoin L1, without relying on bridges or L2 solutions. Contracts compiled to WASM and executed on-chain.

Introducing @oylwallet’s new experiment: #Alkanes. https://t.co/WrEVWoy3SQ

2/10
Alkanes operates directly on Bitcoin mainnet, compiling Rust contracts into WASM, storing them via witness payloads, and executing through OP_RETURN messages. No additional chains or external consensus involved.

7/10
To experiment, review the documentation, explore the marketplace, and check the GitHub repository.

Contracts are deployed via Rust to WASM to witness envelopes, tested and simulated with Metashrew without additional chains or complex consensus mechanisms.

8/10
The first Alkanes token is DIESEL, initially distributed via airdrop and currently tradable on idclub.

Claims require direct protocol interaction.

9/10
Wallet support:

@oylwallet covers Runes, Ordinals, #NFTs, and tokens.

Decentralized exchanges (e.g., OYL AMM), stablecoins (e.g., Bound, Diesel), native staking (Subfrost, frBTC), NFT collections (Orbinauts, Alkane Pandas), and ZK applications using Noir and Aztec. All directly on Bitcoin.

6/10
By default, each contract functions as a token, managing balances, transfers, minting and burning, and contract interactions for composability.

Combines ERC20-style composability with UTXO-based execution.

3/10
Alkanes uses Runestone-like structures, maintaining compatibility with #Ordinals and #Runes. It allows building contracts and performing asset swaps on the same UTXO.

4/10
It utilizes the Metashrew stack, a WASM-based indexing engine that processes Bitcoin blocks, manages contract states, and simulates calls. Both contracts and their runtime environments compile to WASM.

5/10
What can be built?