Jay Berg, renowned as the first to tweet the Bitcoin ticker symbol, has now introduced his most significant innovation yet: Sidepit. This new development marks a milestone in financial market exchange technology with the aim to revolutionize the landscape of bitcoin trading.
The initiative kicks off with the introduction of the Bitcoin L2 Sidepit, backed by Ordinals. This marks the initial step in a daring growth hacking strategy aimed at disrupting the fragmented US spot bitcoin markets for ETFs.As billions pour into ETFs, large institutional players demand liquid bitcoin markets. However, current markets suffer from fragmentation and illiquidity, resulting in unreliable executions.
DLOB introduces a market within a market, where orders undergo a brief freezing period, followed by an auction process to determine their sequence, and then processed through a conventional CLOB matching engine. The Bitcoin L2 Sidepit is a members-only platform, with Ordinals “OG Trading Jackets" serving as requirements for entry. OGs will participate in a trading competition, contributing to fair price discovery and shaping the future of exchange technology.