Ordinals inspired assets now also functional on the smart contract layer
Dogechain, the smart contract layer for Dogecoin, has launched PawPort, a bridge that allows Doginals to bridge between the two chains. Users can bridge their assets almost instantly, and then trade the tokens through decentralized exchanges.
Dogecoin has been around for years, and with the launch of Dogechain the ecosystem got its own smart contract layer. However, in late 2023 Dogecoin followed the example of Bitcoin Ordinals, and introduced Dogecoin Ordinals, or simply Doginals.
Doginals allow DOGE holders to inscribe the smallest unit of a DOGE with rich data. They named this the DRC20 standard. Moreover, it allows for the creation of both fungible and non-fungible assets.
By building the PawPort bridge, these DRC20 tokens become a lot more liquid. Now these Doginals can move to the Dogechain EVM ecosystem. The bridge offers near-instant on-and-off ramp services for the Doginals market, but also provides a scaling solution. Moreover, thanks to PawPort users can trade their DRC20 tokens on decentralized exchanges such as QuickSwap, which already supports Dogechain.
DRC20 tokens explained
Dogecoin is a blockchain network without smart contract functionality. However, following the example of Bitcoin Ordinals, the Dogecoin developer community introduced the DRC20 protocol. This allows users to ‘inscribe’ the smallest denominator of a DOGE, referred to as a ‘shibe’. Users can inscribe a shibe with for example data or an image.
DRC20 already inspired the community, and brought lots of new Doginals tokens and non-fungible assets. But by building PawPort, users can move their assets from Dogecoin to the much better connected Layer-2 solution Dogechain.
By bridging a DRC20 token from Dogecoin to Dogechain, users would then technically even be able to move the digital asset to another EVM-compatible blockchain.
Closing words
With PawPort the Dogecoin community now has a bridge to move their DRC20 tokens from Dogecoin to Dogechain, which then allows them to participate in DeFi or trade on marketplaces. This bridge positions Dogechain as a strong scaling solution, while Doginals get more utility and can suddenly compete with smart-contract enabled memecoins.