Introducing radFi, the platform for onchain trading of Bitcoin tokens. Instantaneous swaps, automated market making, transactions executed directly on Bitcoin and retained ownership of assets for users. Public beta is now live on mainnet at - starting with our PUPS/BTC pool.

Beginning with the implementation of the Taproot upgrade on Bitcoin a few years ago, interest in building a Bitcoin ecosystem onchain has steadily grown. Specifically, large pockets of interest have materialized with protocols like Ordinals, BRC-20 and more recently Runes. However, due to lack of native programmability it’s been difficult to sustain this interest as builders have struggled to deliver quality UX. Listing trades in arbitrary lots, UTXO splitting, clunky interfaces, limited liquidity and slow trade execution have resulted in a frustrating experience when trading tokens on Bitcoin. It’s time to move on from “friction as a feature”. Solutions are possible to mimic the trading experience of other ecosystems and improve onboarding for the next cohort of Bitcoin users onchain.

Our solution is radFi - a MEV-resistant AMM protocol for Bitcoin and Bitcoin tokens that executes trades entirely on Bitcoin mainnet. The exchange was originally inspired by @rodarmor's “light pools” concept - “The idea behind light pools is simple. Users who wish to offer swaps between Bitcoin-native assets, like rare sats, inscriptions, or runes, run nodes that quote prices for swaps.” radFi is a fundamental improvement to the current trading experience on Bitcoin, enabling: - Instantaneous trades between tokens on Bitcoin - No MEV nor sniping during trade execution - Transactions that are executed 100% transparently on Bitcoin - Automated market making for new and existing tokens - User control over their assets via multisig authority

radFi's functionality derives from our team running nodes to quote prices for trades between Bitcoin tokens. The nodes are always online to quote prices for users, essentially acting as an automated market maker. When traders request a quote, radFi makes calculations in an EVM environment based on the user’s inputs and then offers them a price. The calculations are made using a variation of the constant product formula (x*y=k), allowing radFi to offer concentrated liquidity. We implement a trading wallet architecture for users, which is a 2/2 timelocked multisig. The signers of the multisig are the user and radFi, ensuring that radFi can’t move user’s trading funds without their permission. This trading wallet also enables users to trade in and out of positions instantly, even if the transactions are still pending in a block. With our design, all trades execute on Bitcoin mainnet. This allows users to retain control over their Bitcoin tokens without needing to wrap tokens or bridge to other ecosystems, avoiding the security risks and complexity that come with those approaches.

radFi was built by a team of Bitcoin Puppets. We’ve been building in the industry long enough to see many ecosystems rise and fall, yet Bitcoin remains a constant. Ordinals initially sparked our interest in an ecosystem being built atop Bitcoin, having seen this core group of tastemakers establish a culture onchain. Runes proved to us that these users also wanted to trade tokens, directly on Bitcoin. We want to reward those users for their early commitment to the ecosystem. radFi will deliver an improved trading experience when transacting on Bitcoin, continue to add features with users as the top priority, and support the fundamental goal of many across the industry… acquiring more Bitcoin. Be rad, stack sats. Join our discord in the next 24 hours for the exclusive “first-day-degen” role:

made by puppets, you know the puppets always make good stuff 🌎☮️

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Ball up top.

@theconnectooor way up top