Role of indexers
Meta-protocols living on top of the bitcoin blockspace like BRC-20, can only work out if everyone agrees on how we proceed specific datasets published as ordinals.
An indexer is a public repository of specification/script that allows us to verify any virtual type of data structures
In our case, we implement a ledger of $LPV1 brc-20 tokens
What are Meta Protocols?
Meta-protocols are like the superheroes of the blockchain world, seamlessly connecting various DeFi platforms and allowing users to access a wider range of features and services. By leveraging the capabilities of meta-protocols, you can maximize your DeFi experience and take advantage of the full potential of the blockchain. So put on your cyber-gear and get ready to explore the limitless possibilities of meta-protocols in the world of DeFi!
1 - Create transferable brc-20 pair
Initiate the pair by creating 2 brc-20 inscriptions that you own.
https://image.noelshack.com/fichiers/2023/23/3/1686152918-capture.pngStructure example of token A, a transferable brc-20 $ordi
{
"p": "brc-20",
"op": "transfer",
"tick": "ordi",
"amt": "100",
"pool": "1"
}
2 - Create a pool using $LPV1
https://image.noelshack.com/fichiers/2023/23/3/1686153006-capture.png$LPV1 is the brc-20 token that is used and distributed as an accounting mechanism and smart contract for liquidity pools. It represents a share of the liquidity pool and is used to track each user's contribution to the pool. By holding $LPV1 tokens, users are entitled to a portion of the trading fees generated by the liquidity pool, incentivizing them to provide liquidity to the pool.
The use of $LPV1 tokens as an accounting mechanism and smart contract for liquidity pools is a significant development in the world of decentralized finance on bitcoin. It provides a transparent and efficient way to manage liquidity pools and enables users to participate in the growth of the DeFi ecosystem.
{
"p": "brc-20",
"op": "deploy",
"tick": "LPV1",
"max": "100",
"pid1": "b61b0172d95e266c18aea0c624db987e971a5d6d4ebc2aaed85da4642d635735i0",
"pid2": "940e8a6ec3943962c55fdd84809f3d878c6990da123cd3d02ae4769d3d86f3a6i0",
"amt1": "1",
"amt2": "1",
"to": "1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa",
"fees": "0.003"
}
3 - Inscribe OP Mint $LPV1
Once the inscription pool is deployed, we need to inscribe the synthetic assets (here $LPV1 that represents the ratio of the pool to create the inscription (RTFM if you don't know how, or use a paid service provider)
https://image.noelshack.com/fichiers/2023/23/3/1686153171-capture.png{
"p": "brc-20",
"op": "mint",
"tick": "LPV1",
"amt": "100"
}
