RATS (Ordinals): What Is It and How Does It Work?

What Is RATS (Ordinals)?

RATS (Ordinals) is a meme coin on the Bitcoin blockchain, adhering to the BRC-20 token standard. Deriving its name from the globally abundant mammal, the rat, RATS stands out in the crypto world for its unique approach and implementation. Deployed on March 11, 2023, and fully minted by November 5, 2023, it quickly garnered attention in the cryptocurrency community, marking its presence as a novel and intriguing digital asset.

At the heart of RATS is the Bitcoin Ordinals system, a framework that revolutionizes the way digital content is inscribed onto satoshis, the smallest unit of Bitcoin. This system enables the embedding of diverse forms of content, including text, images, audio, video, and even entire video games and codes, directly onto satoshis. This approach not only enhances the versatility of the Bitcoin blockchain but also opens up a myriad of possibilities for digital creativity and blockchain applications.

To learn more about Bitcoin Ordinals, check out our article: What Are Bitcoin Ordinals? Everything You Need to Know About Bitcoin NFT.

How Does RATS Work?

RATS operates through the Bitcoin Ordinals protocol, which allows for the ordering, identification, and inscription of digital content onto satoshis. This protocol is a key driver in the creation of unique digital artifacts, offering a new dimension to the Bitcoin ecosystem. The BRC-20 token standard, which underpins RATS, adds a layer of scarcity and uniqueness, distinguishing it from traditional tokens. This standard ensures that RATS relies on Bitcoin for its minting, transferring, and storage processes, thereby enhancing its scarcity and potential long-term value.

RATS has a total supply of 1 trillion tokens, with a significant number of storage addresses and transactions. Its design as a 100 percent mintable token makes it an attractive option for trading and investment, particularly for those interested in meme tokens. RATS has become a symbol of this spirit, with increasing support from various groups within the network. Despite lacking traditional documentation like a whitepaper or an official website, RATS has carved a niche for itself in the crypto universe, intriguing enthusiasts and investors with its unconventional approach.

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RATS in the Bitget Innovation Zone

Bitget, recognized as a leading global cryptocurrency exchange and Web3 company, listed RATS in its Innovation Zone on November 16th, 2023. The Innovation Zone is a specialized platform designed for the introduction and trading of new, high-potential crypto projects. It provides a crucial 60-day valuation period for tokens like RATS, during which their performance is assessed based on trading volume, liquidity, project development, and other critical criteria. This process ensures that only tokens meeting Bitget’s stringent standards continue to be listed, thereby offering traders access to innovative and quality digital assets.

RATS, being a BRC20-based meme coin on the Bitcoin blockchain via the Ordinals protocol, represents a novel addition to the Innovation Zone. Its listing allows users to engage with the token in its early stages, offering a unique opportunity to participate in the growth of a distinctive digital asset. Bitget users are provided with the convenience of trading RATS paired with USDT on Spot and Grid, facilitated by various payment methods including debit/credit cards and bank transfers.

How to Trade RATS (Ordinals) on Bitget

Step 1: Go to the RATSUSDT spot trading page

Step 2: Enter the amount and the type of order, then click Buy/Sell.

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