First of all, huge shoutout to RedPhone who should be credited with most of the following alpha: https://x.com/redphonecrypto
What is OYL and Alkanes?
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OYL is a Bitcoin focused stack whose wallet, infrastructure, and upcoming AMM enable fully permission-less trading and tokenization on Bitcoin Layer 1. Alkanes is the name of the meta-protocol enabling this, which stores the contract state in ordinary UTXOs but actually executes contract functions via WASM indexers, enabling anyone to mint, trade, or compose new DeFi protocol around tokens without leaving Bitcoin.
Ecosystem
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Oyl currently has a colorful and fast-growing ecos