Research Summary
The report discusses Tuna Chain, a modular Layer 2 (L2) on Bitcoin, which combines Bitcoin’s security with Ethereum’s versatility. It highlights Tuna’s unique features, including a native stablecoin, a modular DA layer, and hybrid ZK-OP technology. The report also compares Tuna with its competitors, Lightning Network and Stacks, and outlines Tuna’s roadmap and tokenomics.
Key Takeaways
Tuna Chain’s Unique Features
- Modular Layer 2 on Bitcoin: Tuna Chain is the first modular L2 on Bitcoin, combining Bitcoin’s security with Ethereum’s versatility. It introduces a native stablecoin, a modular DA layer, and hybrid ZK-OP technology, aiming to boost BTC yields, cut gas costs, and improve Dapp execution on Bitcoin.
- Partnerships: Within the first two months of Tuna Ocean’s ecosystem development, they have established partnerships with Bybit, OKX, Unisat wallet, and others.
Challenges and Opportunities in the BTC L2 Narrative
- Need for Better Solutions: BTC miners, holders, and CEXs are seeking better and secured revenue & asset management solutions. Assets in the bitcoin ecosystem need a more scalable solution for future development.
- Capital Inflows: Greater capital inflows are seeking more opportunities in the Bitcoin ecosystem after the BTC ETFs.
Comparison with Competitors
- Modularity: Tuna Chain is the first modular L2 on Bitcoin, a feature that its competitors, Lightning Network and Stacks, do not have.
- Use of BTC Network: Tuna uses the BTC network as a settlement layer, simulating the settlement layer of the BTC network through a method similar to OP rollups.
Tuna Chain’s Roadmap
- Future Plans: Tuna Chain’s roadmap includes launching Tuna Testnet Alpha, Tuna Testnet, Tuna Mainnet Alpha, and Tuna Mainnet. Each stage includes various developments such as ecosystem building, grants, hackathons, and the introduction of their unique native stablecoin and native yield-farming Dapps.
Tokenomics for Tuna Chain
- $TUNA Token: The total supply of $TUNA is 210,000,000. The token is used for voting on network decisions, generating revenue, supporting the Tuna Foundation and protocol development, and rewarding builders and contributors.
Actionable Insights
- Monitor Tuna Chain’s Progress: Given its unique features and partnerships, it would be beneficial to keep an eye on Tuna Chain’s development and its impact on the Bitcoin ecosystem.
- Understand the BTC L2 Narrative: With the increasing demand for better solutions in the Bitcoin ecosystem, understanding the BTC L2 narrative and its potential opportunities could be valuable.
- Compare with Competitors: Comparing Tuna Chain’s features and progress with its competitors, Lightning Network and Stacks, could provide a comprehensive understanding of the L2 scene in the Bitcoin sector.
