CAT on Fractal

The Covenant Attested Token (CAT) Protocol is a UTXO-based token system on Bitcoin, validated by miners using Bitcoin Script at Layer 1. It manages token minting and transfers via smart contracts called covenants.

Key features include no reliance on external indexers, ensuring security through Bitcoin's consensus; modularity, allowing integration with various decentralized applications like AMMs and lending; programmable minting rules controlled by smart contracts; cross-chain interoperability for trustless asset bridging; and support for Simplified Payment Verification (SPV), enabling light clients to independently verify token authenticity.

CAT protocol supports both fungible tokens (called CAT20 standard) and non-fungible tokens (called CAT721 standard). For more detail: https://catprotocol.org/