ODIN•FUN
ODIN•FUN is a Bitcoin memecoin and token trading platform built for speed, simplicity, and trading fun. It supports the Runes protocol and lets users create, buy, and sell tokens instantly using a hybrid bonding curve and AMM model. Powered by an ICP-based backend, ODIN•FUN delivers real-time trades, near-instant finality, and zero gas fees.
The platform was launched in February 2025 and has seen rapid growth, becoming the #1 Bitcoin Runes trading platform.
First six months metrics:
- > 150,000 users
- > 20,000 tokens created
- > 6,000 BTC in volume
The key to ODIN•FUN's success is a relentless focus on user experience and removing user friction. The project combines on-chain ICP and Bitcoin components with off-chain services to deliver an experience that is truly Bitcoin-native. ODIN•FUN trades some composability for speed, using an architecture where most application logic is centralized in a single ICP smart contract.
By concentrating all trading logic within a single canister, ODIN•FUN reduce complexity and optimize for speed. This simplification enables near-instant internal execution and predictable performance, even at high transaction volumes. Developers also report that this model reduces the surface area for bugs and reentrancy issues. Unlike systems that span multiple contracts or services, ODIN•FUN's architecture minimizes coordination complexity and ensures tighter control over execution flow. As a result, ODIN•FUN achieves two-second finality on transactions and can support hundreds of trades per second.
How It Works
Deposit Flow – Get BTC onto ODIN•FUN to start trading
Authenticate with your Bitcoin wallet: Users connect a wallet of their choice using the LaserEyes library. A wallet signature is used to generate an IC identity via the Sign in with Bitcoin smart contract.
Deposit to ckBTC minter: The user sends BTC to an address managed by the ckBTC minter smart contract. ckBTC is a fully backed representation of BTC on ICP.
Receive "fastBTC": The ODIN•FUN smart contract monitors ckBTC minter transactions and fronts the user with internal "fastBTC" as soon as the deposit has one confirmation. The user can now start trading.
Finalize ckBTC deposit: After 6 BTC confirmations, ckBTC is minted and transferred to the ledger. By that time, "fastBTC" is backed 1:1 by ckBTC, which is in turn backed 1:1 by BTC. ODIN•FUN assumes the risk of a BTC chain rollback after the first confirmation.
Trading Flow – Interact with the ODIN•FUN multi-token ledger
Authenticated users can place orders directly with the multi-token ledger that holds balances of thousands of Runes tokens created on the platform. Transactions usually finalize within 2 seconds.
For newly created tokens, users trade against a bonding curve that ensures liquidity is always available. Once a token reaches a certain market cap, it "ascends"—a portion of the token supply and 0.2 BTC is deposited into an AMM pool to enable further trading. From this point on, the token can be withdrawn from the ODIN•FUN platform to the Bitcoin network.
Withdraw Flow – Get the trading proceeds back into your wallet
To make a withdrawal, a user simply initiates a burn of a specified amount of "fastBTC" and its associated ckBTC. When burning ckBTC, the user must specify a destination BTC address where the locked BTC should be transferred.
Scaling and Performance
Smart contracts on ICP can serve content over HTTPS, allowing frontend apps to be served directly to the browser. However, ICP does not currently offer CDN services or DoS protection at the level of providers like Cloudflare.
To optimize the user experience, ODIN•FUN runs a number of off-chain components alongside the ICP backend.
Every interaction with the ODIN•FUN smart contract results in an event being published to the Events ledger. An off-chain database engine subscribes to this feed and builds a traditional relational database from it. The application queries this database to enable features like filtering, indexing, and search, beyond what is practical within smart contracts.
To protect the frontend and database layer, additional services are used to provide DoS protection, CDN caching, and related infrastructure.
Summary
ODIN•FUN demonstrates how a Bitcoin-native DeFi application can deliver a user experience on par with centralized exchanges—without compromising decentralization. From login to execution, the app is optimized for speed and simplicity. Users authenticate using their existing Bitcoin wallet, creating a familiar, trustless flow that doesn't require new credentials or seed phrases.
The core user journey—deposit BTC, trade instantly, withdraw—is both intuitive and effective. ODIN•FUN enhances this experience by fronting user deposits as soon as they receive one confirmation, allowing users to begin trading within minutes. When a token "ascends," ODIN•FUN automatically locks a portion of the supply and BTC into an AMM pool, ensuring instant liquidity is always available.
Behind the scenes, the application uses a hybrid design that combines ICP smart contracts with off-chain components for indexing, filtering, and frontend performance. By centralizing trading logic within a single canister, ODIN•FUN enables sub-two-second finality and hundreds of trades per second. This architecture also reduces the potential for reentrancy bugs and simplifies coordination.
These design choices—frictionless onboarding, fast execution, user-focused abstractions like "fastBTC," and pragmatic use of hybrid scaling—make ODIN•FUN not just a successful Runes exchange, but a compelling template for future Bitcoin DeFi applications.