
Unleashing Effective Governance for BRC-20 Through Strategic ‘Lead Maintainer’ Selections: Domo’s Solution
BRC-20 Token Standard Gets New Lead Maintainers in UniSat and Best in Slot
Pioneering the use of the Ordinals Protocol on the Bitcoin network, Domo’s non-profit organization, Layer 1 Foundation (L1F), has announced that it will collaborate with Bitcoin infrastructure companies UniSat and Best in Slot to serve as BRC-20’s “lead maintainers.”
The Growing Importance of Governance in BRC-20 and Bitcoin
Governance on BRC-20 and on Bitcoin in general has been a contentious topic, as seen earlier this year when Ordinals marketplace UniSat and Domo found themselves at odds. While UniSat embraced the proposed “Jubilee” upgrade to the Ordinals protocol, Domo opposed it, fearing that the new technology could fragment the budding BRC-20 ecosystem.
However, Domo recognizes UniSat’s crucial role in decentralizing the BRC-20 ecosystem. As the first marketplace to list BRC-20 tokens, UniSat has played a pivotal role in shifting token ownership from traditional spreadsheets to the digital realm.
In addition, UniSat has also teamed up with Best in Slot to develop a decentralized BRC-20 indexing product. This partnership aims to support the growth of Bitcoin metaprotocols not just on Ordinals, but beyond.
Introducing an Oversight Committee for BRC-20 Governance
To enforce L1F governance guidelines for the BRC-20 standard, Domo has appointed an “oversight committee.” The committee comprises notable players in the Bitcoin community, including Ordinals wallet Oyl and UXTO Management, the fund arm of BTC Inc., owner of Bitcoin Magazine.
“BRC-20 was an early experiment, but we’re now witnessing a wave of standards that require tools, infrastructure, and support to thrive. Our goal is to provide that support and enable the growth of Bitcoin metaprotocols on Ordinals and beyond,” Domo said in a statement to CoinDesk.
Partnering for the Future of BRC-20
The partnership between L1F, UniSat, and Best in Slot marks a major step in advancing the use of the BRC-20 token standard on the Bitcoin network. With these companies coming together as lead maintainers, BRC-20 can continue to grow and evolve, building a more robust and decentralized ecosystem for digital assets on the Bitcoin network.