BlockRock
@BlockRock_
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Trafficking in Bitcoin L1s and side chains
Joined December 2023
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The market cap of all Bitcoin Taproot assets (BRCs, Ordinals, Tap, Atomicals, Pipe, CBRCs etc) represents less than 0.5% of $BTC total market cap.
The market cap of everything built on top of Ethereum is well over 100% the market cap of $ETH
We are all still insanely early.
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What is the significance of the Tap x ICP partnership?
According to
@rarity_garden
, the
@tap_protocol
x
@dfinity
(ICP) partnership will showcase Tap's capabilities and decentralization.
In additional to Tap's own smart contract capabilities, ICP will allow for an alternative
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Bellscoin could be one of those generational 1000x opportunities.
Let me explain...
With OP_NET launching on Bellscoin testnet next week, there is a strong narrative growing that Bellscoin could be a live real-money "testnet" blockchain for other larger PoW chains like Bitcoin,
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$TRAC is going to print millionaires in the next few months ⏳
That’s the teeet.
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The only non-fungible project that I've been accumulating on Bitcoin is Natcats.
Non-arbitrary tokens are the future of how fully on-chain economies will evolve.
@dmtnatcats
was the first pfp project to demonstrate this concept.
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Looking at the USD floors prices for the first three original art 10k collections on Bitcoin ordinals:
1) NodeMonks floor at $7,100
2) MegaPunks floor at $310
3) Bitcoin Frogs floor at $6,000
MegaPunks still have 20x upside in order to catch up.
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MerlinChain just quietly flipped Solana in TVL.
Solana has $1.97 Billion in TVL.
@MerlinLayer2
has $2 Billion in TVL.
The $MERL airdrop is going to be a lot bigger than what the market is expecting.
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Bitcoin Metaprotocols - Alpha cheatsheet
🟢 Ordinals > Low inscriptions, fine art, Bitmaps
🟢 Rare sats
🟢 BRC-20 > $ORDI, $SATS, $TRAC
🟢 Tap > $GIB, $NAT, $TRAC
🟢 SRC-20 > $KEVIN, $STAMP, Stamps
🟢 Atomicals > $ATOM
🟢 BRC-420
🟢 CBRC-20 > $BORD
🟢 Runes >⌛️
🟢 BitVM >⌛️
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Why I’m giga bullish on SRC-20 tokens:
🚀 No major CEX listings (yet…)
🚀 Prices are not tracked by major coin websites (CMC, CG etc)
🚀 User experience has lots of friction (but getting better)
🚀 As old as BRC-20 tokens but unprunable (narrative)
Smart money is accumulating
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SRC-20 tokens are about to receive a massive injection of liquidity via exchange listings.
$KEVIN at $0.02 and $STAMP at $0.08 is going to seem like peanuts in hindsight.
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$TRAC holders are becoming diamond handed.
With every round of
@trac_btc
validator licence sales, the price of $TRAC isn't dumping as much.
🗓️ Round 1: July 14th (Snapshot on July 7th) Max drawdown was -37%
🗓️ Round 2: July 26th Max drawdown was 16%
🗓️ Round 3: Aug 15th: Max
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The NATCATS floor has now cracked the $1,000 mark (0.02 BTC).
Trading of the first UNAT collection continues OTC, with most trades happening in the
@trac_btc
discord via Google sheets.
Once trading friction is removed and a marketplace launches, these NATCATS are going to fly.
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Looking at this from graphic from
@ord_io
, seems like
@MegapunksBTC
are undervalued.
Look at the USD floors for the first three 10k original art PFP collections:
1) NodeMonkes $9,200
2) MegaPunks $340
3) Bitcoin Frogs $9,300
MegaPunks need to 27x from here to catch up.
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SRC-20 - Alpha Cheatsheet
🟢 $KEVIN - 1st SRC-20 token ($12mill mcap)
🟢 $STAMP - 2nd token, Most liquid ($74mill mcap)
🟢 $PEPE - 3rd token, meme potential ($1mill mcap)
🟢 $UTXO - Meme ($9mill mcap)
🟢 $STMAP - Metaverse ($3mill mcap)
🟢 $DRGN - Anime brand ($300k mcap)
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My base case comp for
@trac_btc
is that they are the Chainlink of the Bitcoin ecosystem. This is the simplest way to think about $TRAC.
A $TRAC to $LINK comp would mean that $TRAC goes to $750 to reach parity.
However, after spending time really digging into the ecosystem and
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Bitmaps, Rare Sats, and $NAT all make me bullish on Bitcoin Mining stocks.
I don't think Wall Street analysts, who cover these stocks, are aware that the earnings for these companies are going to go parabolic.
Non-arbitrary tokens are going to transform the BTC mining industry.
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SRC-20 tokens are the most immutable, permanent fungible token standard on Bitcoin.
The combined market cap of all SRC-20 tokens is 1/30th the size of the BRC-20 token market.
The upside potential is asymmetric.
$KEVIN $STAMP $UTXO $STMAP $SATO
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Out of all the Bitcoin L1 dexes I've seen
@MotoswapBTC
seems to be the closest to delivering a true on-chain swap experience like Uniswap.
$MOTO is trading at a $60mill market cap. If $MOTO got to half of Uniswap's valuation, that would be a 100x from here.
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What $TRAC has created:
✅ Indexing of Bitmaps
✅ Pipe protocol - one the the earliest Rune projects
✅ Tap Protocol with projects like $KARMA and $SORA
✅ Indexing of NATs and UNAT tokens like NATCATs
✅ indexing of DRC-20 and Doginals
@trac_btc
is just getting started…
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Even if only 10% of all $BTC was used for DeFi on Bitcoin L1, what would make Bitcoin the
#1
TVL chain for DeFi.
10% of Bitcoin's market cap represents $130 Billion in TVL. Making it 2x bigger than DeFi on Ethereum and 30x bigger than DeFi on Solana.
The market opportunity for
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How does $TRAC get to $10k?
A few have DMed me asking where the $10k $TRAC price target comes from.
I’m thinking of
@trac_btc
as a potential multi-cycle hold. I think we can all agree that at some point BTC will hit $1 million per coin. Maybe this happens in the next 2 to 4
My base case comp for
@trac_btc
is that they are the Chainlink of the Bitcoin ecosystem. This is the simplest way to think about $TRAC.
A $TRAC to $LINK comp would mean that $TRAC goes to $750 to reach parity.
However, after spending time really digging into the ecosystem and
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$TRAC is undervalued.
There will be multiple winning metaprotocols on Bitcoin. No doubt that
@trac_btc
will be amongst the leaders of the pack.
TAP Protocol just passed 2 million individual mints, 50,000 transfers and 15,300 token deploys.
We are right now working towards the $TAP release, marketplaces, bridges and staking infrastructures.
On top of that, the technology behind Trac's Ordinals builder ecosystem is being
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After almost 6-months, Natcats is emerging from the initial run up, dump and re-accumulation phase.
Shoutout to all the holders who held strong and the conviction buyers who bought the lows.
You can’t fade a historic and category setting collection like
@dmtnatcats
.
We’ll see
The NATCATS floor has now cracked the $1,000 mark (0.02 BTC).
Trading of the first UNAT collection continues OTC, with most trades happening in the
@trac_btc
discord via Google sheets.
Once trading friction is removed and a marketplace launches, these NATCATS are going to fly.
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SRC-20 tokens pumping today 🚀
These price levels are going to look dirt cheap in a couple months.
$KEVIN $STAMP $STMAP
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Which Fractal ecosystem memecoin are you most bullish on?
$CAT
367
$GLIZZY
378
$FBULL
69
$PEOPLE
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OP_NET is a Bitcoin L1 metaprotocol to keep an eye on.
Looks like OP_NET is the evolution of the CBRC-20 metaprotocol. This new metaprotocol promises to be more functional and decentralized than Runes.
I'm already seeing quite a few Bitcoin DeFi projects building on
@opnetbtc
,
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Don’t fade SRC-20 tokens and Stamps.
OKX listing of the first SRC-20 token is inevitable.
$15ill FDV market cap will seem like peanuts $KEVIN
WOAH... THIS IS HUGE NEWS FOR STAMPS AND SRC20's
$Kevin
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SRC-20 token prices are now beginning to be listed on CoinGecko.
Wait until the masses of crypto start learning about the most unprunable and permanent fungible token standard on Bitcoin.
SRC-20 holders are sitting comfy with asymmetric upside potential.
$KEVIN $STAMP
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Final votes of the poll are in. $GLIZZY wins by a razor thin 1% margin over $CAT for most bullish Fractal memecoin community.
$GLIZZY with 374 votes
$CAT with 366 votes
$FBULL with 68 votes
$PEOPLE with 43 votes
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SRC-20 tokens have the best asymmetric return profile in the Bitcoin ecosystem
✅ Total SRC-20 market cap is $100 mill vs $3.5 bill for BRC-20 (35x difference)
✅ 3/10 largest CEXs are listing SRC tokens this month
✅ Narrative of more permanent than BRC-20 tokens
$KEVIN $STAMP
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SRC-20 and DRC-20 tokens have the best potential to 100x in 2024 imo. Specifically I’m looking at $KEVIN on SRC and $DOGI on DRC.
Market caps are small, capital rotation is likely once the narrative catches on. And it won’t take much capital to move prices.
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Why has the price of $TRAC been in a slump?
Simple: $TRAC was a fair mint. $TAP is a VC coin.
With all the hype around
@tap_protocol
doing a token offering on
@CoinList
you would think $TRAC price action would be bullish.
After all,
@trac_btc
is the governance token for Tap
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The biggest piece of alpha from last weeks
@tap_protocol
TTP ecosystem space was around validator nodes.
At one point the team mentioned that they had a call with Google potentially running a node in the future.
Would be hyper bullish for the TAP / TRAC ecosystem.
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DRC-20 Doginals - Alpha
🟢 $DOGI - First DRC-20 token ($34mill FDV)
🟢 $FIWB - The "SATS" of DRC-20 ($3mill FDV
🟢 $DUBI - Bridge ($1mill FDV)
🟢 $OINK - Memecoin ($800k FDV)
🟢 $DCEX - Marketplace ($600k FDV)
🟢 $DOSU - Memecoin ($600k FDV)
🟢 $HUB - Marketplace ($500k FDV)
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People are apeing this new 10k Ordinals collection today called "The Pepes" at a $60 floor.
Meanwhile they could be apeing the first 10k SRC-20 collection Stampepes for the same price.
The market still hasn't woken up to Stamps and
@StampepeBTC
yet.
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Great to see more large crypto YouTubers and Influencers talk about the
@trac_btc
and
@tap_protocol
ecosystems.
@VirtualBacon0x
, who has 350k subscribers on YouTube, just talked about how $TRAC and $TAP are bullish narratives to watch for as Bitcoin's price appreciates.
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SRC-20 tokens are as close as ever to being listed on major CEX’s.
They’ll become the 2nd Bitcoin metaprotocol to be supported by large exchanges (after BRC-20).
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Bitcoin Stamps - Alpha
🟢 Avime - First SRC-721 collection ($400k mcap)
@AvimeNFT
🟢 Stampepes - First 10k PFP collection ($730k mcap)
@StampepeBTC
🟢 Stampunks - 10k collection ($1.7 million mcap)
@Stam_Punks
🟢 Sub100 Stamps - ($2.1mill mcap)
🟢 Sub1000 Stamps - ($13mill mcap)
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People are going to FOMO into $TRAC.
Once
@tap_protocol
validator nodes are in people's wallets and they see that these validators are printing $TAP + acting as a lightning rod for Tap ecosystem airdrops, people are going to hoard and bid up $TRAC to participate in future
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Going through the whitepaper and also seeing some of the best builders in the space give props to
@opnetbtc
is very bullish.
Hard to believe that $MOTO is still sitting at a $50mill market cap.
Once OP_NET deploys on Bitcoin mainnet
@MotoswapBTC
is an easy 10x.
Easy 100x once
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Picked up the
@fractal_bitcoin
starter pack. Some $FB, $CAT and $GLIZZY. Sitting comfy in my Fractal exposure now.
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The ideas behind non-arbitrary tokens and digital matter theory are going to become new base primitives.
The first non-arbitrary token, DMT-NAT, currently has a market cap of $25 million.
The first of any base primitive eventually gets to a multi-billion $ valuation.
$DMT $NAT
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UNAT ready for the attention that is about to flow into the unique non-arbitrary tokens space.
NFT traders today on
@niftyportal
looking at NATCATS.
Top Solana NFT trader
@EasyEatsBodega
even saying "I like the Cat buy alot..."
NATCATS are the beginning of a new meta.
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While $BTC is slipping below the $60k level, $TRAC is one of the only Bitcoin L1 infra tokens in the green today.
Pay attention to relative strength. The coins that show the most resiliency during a market breakdown tend to be the ones that outperform when the market bounces.
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Floor price on NATCATS are now up over 50% since yesterday.
The floor is now $1650 (0.032 BTC) for a NATCAT. I don't see anyone in the OTC discords offering for anything lower. I'm also seeing a big decrease in listings.
Supply shock is incoming.
The NATCATS floor has now cracked the $1,000 mark (0.02 BTC).
Trading of the first UNAT collection continues OTC, with most trades happening in the
@trac_btc
discord via Google sheets.
Once trading friction is removed and a marketplace launches, these NATCATS are going to fly.
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High value transactions will take place directly on Bitcoin Layer 1. Smaller consumer web3 and DeFi activity will happen on L2s like
@Stacks
.
The upcoming Stacks Nakamoto upgrade will unleash the power of DeFi on Bitcoin. L2s on bitcoin is a narrative to watch in 2024 $STX
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Minters of $STMAP are up 30x since launch.
At a $8.7million market cap
@STMAP_SRC20
is the only SRC-20 token with utility.
Chart is still looking very bullish 🚀
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$PIPE will 100x
Lots of big developments and announcements around the TRAC and TAP ecosystems.
However, PIPE is also set to make some big moves.
It's long been known that
@rarity_garden
has plans to bring AI capabilities to the Bitcoin blockchain using
@PipeBtc
.
Speaking with
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The team behind
@opnetbtc
has been quietly building for the last few months while Runes was in the spotlight.
Fast forward to today, and the market realizes that Runes utility if very limited. For true DeFi innovation and a fungible token economy to exist on Bitcoin, it needs a
FROM FRAGMENTATION TO STANDARDIZATION: OP_NET AND THE FUTURE OF BITCOIN
The current Bitcoin metaprotocol landscape is fragmented, with numerous solutions in development, each claiming to enable smart contract functionality on Bitcoin Layer 1. However, the history of technology
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Great to see $TRAC up 50% in the last 7-days while the entire market is down.
Can't wait to see how
@trac_btc
performs once Bitcoin is back at all-time highs. No reason why $TRAC can't be $10+ once $BTC breaks above $70k again.
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Tap deciding to delay token launch is a classic VC move.
I've seen countless projects in other ecosystems delay token launches before for the same reason
@tap_protocol
is citing.
Usually these projects have heavy VC and insider involvement. Citing a delay in token launch
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Now that the SRC-20/Stamps Indexer API is live, we're going to start seeing a lot more awareness around the protocol.
CEX and data aggregation listings are just starting to be deployed.
What are SRC-20 tokens and stamps on
#Bitcoin
?
Here's a guide on how they work, what it means for the Bitcoin blockchain, and how they compare to similar token standards. ⬇️
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I'm been red pilled on $GLIZZY
All new chains have a flagship memecoin that has blessings from the founding team of the chain. These flagship memecoins tend to rally the hardest and give the best upside.
The team behind
@fractal_bitcoin
is Unisat.
@unisat_wallet
has already
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The roadmap of Bamk-Of-Nakamoto-Dollar explained.
By bringing much needed stablecoin infrastructure to Bitcoin L1, $BAMK has become one the best performing Runes tokens over the last few weeks.
Phase 1
Involves a multi-season airdrop farming campaign, where holders of NUSD
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$STMAP minted out in record time today.
Sitting at a $2.7 million market cap,
@STMAP_SRC20
is the Bitmap of the Stamps/SRC-20 ecosystem.
I do not endorse any SRC20 tokens. But purely as a project, this looks VERY cool.
Nice to see SRC20 being used for something beyond casino chips.
NOT financial advice. DO NOT buy tokens expecting any sort of return on investment. I have no relationship
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The first 10k collection on Stamps
@StampepeBTC
, is only 30% minted out.
Stampepes are a free mint. You only need to pay for fees (~$40).
Seeing how early 10k collections on Ordinals are trading, Stampepes is a no-brainer. SRC-721 is the unprunable standard for NFTs on Bitcoin
Best time to mint your stampepes is now. 🐸⌚
It's still a freemint and the fees right now are only 31 usd 🆓
18% completed
1826 minted 🔥
282 holders 💎
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SRC-20 tokens starting to wake up.
Prices of $STAMP and $KEVIN are up almost 2x in the last 24hr hours, all on strong volume inflows.
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$HUHU is breaking out of a bullish pennant, on good volume.
@HuhuCommunity
is the first token deployed on
@MerlinLayer2
, which is currently the largest Bitcoin L2.
$HUHU is only sitting at a $10 million market cap. You do the math, but this is the most obvious memecoin play.
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SRC-20 tokens starting to deploy token staking mechanics 👀
🚀 Exciting News! 🚀
$DRGN will be implementing the first ever staking protocol in the SRC 20 ecosystem!🐉
DRGN = Points
Don't miss out on our latest updates – turn on notifications now! 🔔
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OKX has been testing the core Stamps indexer as well.
Now that OpenStamp has verified that the indexer is stable enough for production use, only a matter of time before the large exchanges open up for SRC-20 and stamps trading.
We are excited to announce that the core indexer of the STAMPS ecosystem is now officially available for use🎉
We can only verify the truth through practical application. On the first day of 2024, OpenStamp started using the core indexer for double-checking right after our first
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Currently Uniswap is at $6.42, imagine being able to buy $UNI for $0.05?
Would you do it?
Well that is what buying $MOTO right now is like.
@MotoswapBTC
will bring true native AMM like features to Bitcoin L1.
$MOTO would have to 110x to catch up to Uniswap's current market
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The general sentiment on CT is pessimistic and jaded.
The only corner of CT that remains optimistic and bullish on fundamentals is the Bitcoin ecosystem.
The real innovation is happening on Bitcoin.
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Utility tokens on Bitcoin Runes is the next untouched narrative starting to pick up steam.
@AletheiasAgora
just completed and paid out on their first prediction market.
$AGORA up almost 100% today and still sitting at a tiny $500k mcap.
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The largest DMT token by holder count $NAT has a marketcap of $68 million.
The second largest DMT token by holder count $BAKED has a market cap of $400k.
DMT-NAT is almost 170x bigger than the 2nd place DMT-BAKED.
Not-financial advice, but feels like BAKED is primed for a pump
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When I see more mainstream CT accounts talk about Bitcoin programability, they often mention Runes, a handful of VC backed sidechains and now Fractal.
All of those meteprotocols are great, but what I see missing from most conversations is the Tap ecosystem.
Outside of the core
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$TAP market cap poll is now complete.
The consensus is that
@tap_protocol
will trade higher than $500 million market cap shortly after the token starts trading.
Another big chunk of the voters think it'll trade between $100 million and $250 million.
Bullish all around. It'll
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My Bitcoin Metaprotocols and L2 target prices for this cycle 🚀
🎯 $BTC -> $120k
🎯 $MERL - > $10
🎯 $STX -> $12
🎯 $TRAC -> $70
🎯 $MOTO -> $220
🎯 $ORDI -> $800
🎯 $SATS -> $6300 per billion
🎯 DMT-NAT -> $2400 per billion
🎯 $STAMP -> $2 (SRC-20)
🎯 $DOGI -> $100 (DRC-20)
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The first token of a new Bitcoin Metaprotocol often performs the best.
Which 1st token of Mataprotocol are you buying?
$ORDI
13
$KEVIN
71
$ATOM
4
$BORD
8
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Bitcoin DeFi is speed running the Ethereum DeFi playbook.
Currently DeFi on Bitcoin is in the "2019 era" of DeFi on Ethereum. This is a time in Ethereum's history where we saw the first crop of stablecoins, AMMs, oracles, indexers and money markets start to be adopted.
Just
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🚨Bitcoin Alpha
🟢 NATs > DMT-NAT, Bitmaps
🟢 MerlinChain > M-points farm-to-airdrop for $MERL
🟢 Lambda > Launchpad on Feb/12 for $LMDA
🟢 $TAP airdrop for $TRAC and $PIPE holders
🟢 SRC-20 CEX listings soon for $KEVIN & $STAMP
🟢 $RUG airdrop and Rings launch via
@Saturn_btc
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For everyone minting the first CAT-20 token $CAT on Fractal, just know that you are minting $CAT at an implied FDV of $27 million (based on minting costs per $CAT)
This isn't the same as minting $ORDI or $SATS when BRC-20 tokens first launched. When $ORDI was first minting, the
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Not sure if
@RSM_Runes
is legit or not.
RSM is using all the right marketing buzz words but the project looks like a straight copy and paste of BRC100.
Screenshot on the left is from June/26/24. Screenshot on the right was from today when
@MikaelBTC
commented on one of
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$AGORA up another 250% since yesterday 🚀
99% of the fungible tokens on Bitcoin are memecoins. There is only a handful of true utility tokens in the Bitcoin ecosystem and
@AletheiasAgora
is one of them.
I expect more utility driven Runes/BRC/Tap projects to launch soon. I'll be
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$KARMA and Runestone airdrops hitting Bitcoin wallets over the next few hours.
Combined, it’s going to be a $100 million liquidity injection into the Bitcoin ecosystem.
Airdrop season on Bitcoin is just getting started.
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@MegaPunks_BTC
@nodemonkes
@BitcoinFrogs
Megapunks are a true OG ordinals collection. I think collectors will start to wake up to it
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The first visual explorer for NATCATS 👌
Next up will be official marketplace listings ⏳
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@EmblemVault
Emblem vault is one of the most underrated web3 infrastructure protocols. Looking forward to what the SDK enables for devs!
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@btc_skull
@trac_btc
Bitcoin L1 indexing, governance token for the tap protocol, gov token for pipe protocol, needed to run tap protocol validator nodes
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Runes utility token cheat sheet.
Smart money is rotating into tokens with strong fundamentals. Runes tokens with utility can potentially 100x in the next bull market leg up.
Here are the most notable Runes tokens with utility:
🟢 $BAMK (BAMK•OF•NAKAMOTO•DOLLAR) $107 million
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The Digital Matter Theory framework is off to a hot start.
After almost a week of trading $NAT is sitting at a $50 million market cap.
The first of any new metaprotocol primitive often reaches a few hundred million dollar market cap fairly quick.
I expect $NAT to do the same.
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0
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The Merlin catchup trade continues to play out.
Pre-market trading of $MERL is valuing
@MerlinLayer2
at a $3 Billion FDV.
If you look at L2 comps, the leading DEX trades at a 15:1 ratio and top memecoin at 60:1 to the parent chain.
$VOYA and $HUHU still need to 5x in price.
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Seems like the TRAC validator presale sold out within 1 minute! 🤯
Over 270 wallets sent 500 TRAC within the first 60 seconds.
Now we wait for the transactions to confirm ⏳
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Bitcoin L1 utility tokens are bouncing back faster than tokens on other chains.
The altcoin narratives on Ethereum and Solana are old and stale. Smart money knows that Bitcoin's fungible token ecosystem will be a major narrative when $BTC starts pushing new ATHs again.
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Institutional capital is coming for our $TRAC bags 🚀
Sora Ventures have secured a $2M TTP fund to fuel the future of decentralized indexer economy on
@trac_btc
@tap_protocol
@PipeBtc
backed by some of the top web3 funds! Official announcements coming out next week!
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@ShizzySats
@tap_protocol
@trac_btc
I don't blame them but this is how you know the VCs are pulling the strings behind the scenes.
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Bitcoin's Layer 2, $STX is seeing an uptick in TVL inflows.
We've seen how this plays out before on other chains. New capital enters a new ecosystem and the main memecoin on that chain pumps.
NFA but looks like $WELSH is that memecoin on
@Stacks
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2013 was the Bitcoin cycle
2017 was the ICO cycle
2021 was the Web3 cycle
2024/2025 will be the Bitcoin metaprotocols cycle
Keep accumulating your positions. Metaprotocols will be the best performing sector in crypto 💯
$TRAC $TAP $MOTO CBRC-20 $ORDS RUNES Atomicals
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Bitmap land is up 33,000% in price since mint.
Otherside land by
@yugalabs
is down -90% in price since mint.
@OthersideMeta
raised $300 million from their primary mint. Bitmap raised $0.
The point is that organic, grassroots communities always accrue more value over time.
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Crypto VCs have been quietly accumulating and funding Bitcoin DeFi and L1 infra projects since the start of the year.
Now we’re starting to see them talk more publicly about the Bitcoin DeFi thesis and its inevitability.
Next will be retail FOMO into the Bitcoin DeFi narrative.
I've been saying for the last 3 years that DeFi was coming to Bitcoin.
Don't sleep on it.
Will be a massive shift in the crypto ecosystem.
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@mark_ippol51515
@trac_btc
I’m thinking of trac more from the standpoint that tap protocol is positioned to be the most functional of all the other metaporocols (including runes), and trac will govern tap as well as earn tap yield for validators
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