🪙WSATs (Wrapped Satoshis)
(inspired by a wsat proposal by XCPinata)
WARNING: Read every word if you decide to test. These will be worthless. Use at your own risk.
Overview
WSAT is a simple metaprotocol built on top of bitcoin, utilizing ordinals & inscriptions, allowing for ordinal enjoyors to pseudo-inscribe any already existing inscription onto any sat number mined in a block less than, or equal to, current block-height.
These "wrapped sats" are represented by an inscribed JSON file.
Purpose
Make all mined sats available to all inscribors, including lost sats in the earliest mined bitcoin, owned by Satoshi Nakamoto.
The JSON
Syntax
| Key | Required | Description |
|---|---|---|
"wsat" | yes | sat number to be wrapped |
"id" | yes | Inscription ID of the existing inscription |
"address" | yes | The address both the sat number, and the existing inscription must be located for a 100% valid WSAT |
Validity
WSATs shall be in a state of 100% valid, 50% valid, or invalid.
First is first; however, 100% valid beats 50% valid beats invalid.
Validity is fluid - as the state of the chain updates, so does the state of each WSAT's validity. WSATs can become valid, or invalid, at any moment.
| Validity | Condition | |
|---|---|---|
100% | Both sat number is located in "address", AND existing inscription is located in "address" | |
50% | Either sat number is located in "address", OR existing inscription is located in "address" | |
0% | Neither sat number is located in "address", OR existing inscription is located in "address" |
Summary
The WSAT (the JSON we create) can be moved, sent, traded, etc. The WSAT is created to represent the "unobtainable" sat number, while also representing the existing inscription that has now been assigned (or pseudo-inscribed) to sat number. Just like individual sats represent inscriptions, so now do WSATs - subject to the WSATs validity.
Ultimately, those that own the real sats have the real control. Exercise with extreme caution, and remember this is made up nonsense.
Credit
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