RFP: Development of a BTC Runes-Layer 2 Bridge

[val]

1. Introduction:
   Soft Protocol is issuing this Request for Proposal (RFP) to solicit proposals from qualified individuals or teams to develop a bridge from Bitcoin Runes to Layer-2 networks. The goal is to capitalize on the recent advancements in Bitcoin’s programmability, leveraging runes and layer-2 networks to enhance Soft Protocol.

2. Background:
   Bitcoin, the pioneering cryptocurrency, has recently undergone major development, with innovations such as Runes and L2 networks expanding its capabilities beyond simple transactions. Soft Protocol could harness this momentum by building upon these enhancements.

3. Objectives:
   The primary objective is to develop a trustless, resilient, and sufficiently decentralized bridge that enables the transfer of assets between Bitcoin Runes and Layer-2 networks. The bridge should facilitate secure cross-chain transactions, maintaining the integrity of assets and prioritizing user experience.

4. Scope of Work:
   The developer(s) will be responsible for:
   a. Designing and implementing a robust architecture for the bridge.
   b. Developing smart contracts and tooling to enable asset transfers
   between Runes and Layer-2 networks.
   c. Conducting rigorous testing and auditing to verify the bridge’s
   security and reliability.
   d. Documenting the development process, including technical
   specifications and user guides.

5. Deliverables:
   Upon completion of the project, the developer(s) shall deliver:
   a. Fully functional bridge from Bitcoin Runes to Layer-2 networks,
   meeting the specified requirements.
   b. Comprehensive documentation covering the design,
   implementation, and usage of the bridge.
   c. Test reports and audit results demonstrating security and
   reliability.

6. Evaluation Criteria:
   Proposals will be evaluated based on the following criteria:
   a. Technical expertise and experience in blockchain development,
   particularly on Bitcoin.
   b. Proposed approach and architecture for building the bridge.
   c. Track record of delivering similar projects on time and within
   budget.
   d. Cost-effectiveness of the proposed solution.
   e. Compliance with industry standards and best practices.

7. Submission Guidelines:
   Interested parties are invited to submit their proposals here. Please host your proposal and share a link in the comments. Alternatively, you can submit your proposal privately to softprotocolgrowth@gmail.com - please keep in mind that private submissions will need to be publicized at some point before going through governance. Proposals should include:

   • Overview of the proposed solution
   • Technical approach and methodology
   • Team composition and relevant experience
   • Timeline and budget estimation
   • Any additional information deemed relevant

8. Contact Information:
   For inquiries regarding this RFP, please contact @micahvs on Telegram.

Soft Protocol reserves the right to reject any or all proposals received and to negotiate separately with any source whatsoever in any manner necessary to serve the best interests of Soft Protocol.

[numbers]

Some market analysis, the Rune landscape is approaching $4B in just two months after inception.

Runes are on track to hit a $24B market cap by the end of the year.

At time of writing the following is valid per Coinmarketcap:
Ethereum market cap: $448,488,694,120
Layer 2 market cap: $24,725,709,477
Ethereum ecosystem market cap: $64,907,912,390

This means the total Ethereum ecosystem is ~20% of the Ethereum market cap. The top end for BTC L2s and ecosystem is $1.4T * 0.2 at time of writing. This means the top end while BTC hovers around $68k is $280B. This is a good move.

I would make sure the bridge is trustless and open-source. not really seeing anything out there that is open-source and trustless.

[amir]

Your market analysis is highly insightful and highlights the significant potential of Runes. Emphasizing the creation of a trustless and open-source bridge is crucial, as these features will enhance user confidence and project transparency. I hope the development team considers these points to build a reliable bridge for the community.

[romera]

It’s great that Protocol is always innovating. It’s also clear that Runes Hype is not just a memetoken and not something that comes and goes.

I hope that this RFP will be taken into consideration by developers and i believe that such a bridge should be built for the development of the ecosystem. it is great that Soft Protocol has come up with such a proposal to build this bridge.

[romera]

i absolutely agree with you. i think it will grow like an avalanche (like the BRC-20 hype)

[KomaRick]

this is a very important and complicated thing. I hope there are qualified builders here to do it.

[Kir_Os]

This is definitely a new strong BTC narrative in crypto. I see no reason why we shouldn’t support it : )