What Is ORDI Token? The First BRC-20 Token on Bitcoin Explained

Bitcoin has historically been a simple, robust network focused on securing value transfers. In 2023, that changed when Ordinals brought a way to inscribe arbitrary data directly on satoshis. Out of that movement came BRC-20—a community experiment for fungible tokens on Bitcoin—and ORDI, the first BRC-20 token ever deployed. This guide explains what ORDI is, how BRC-20 works under the hood, the latest ecosystem developments, risks to consider, and practical tips for holding and moving ORDI safely.

Quick overview

• ORDI is the first BRC-20 token, created as an experiment using Bitcoin Ordinals inscriptions.
• BRC-20 relies on off-chain indexers to interpret on-chain text inscriptions for deploy/mint/transfer operations, making it different from EVM-style token standards.
• The ecosystem continues to evolve in 2024–2025, including competition from the newer Runes protocol.
• Self-custody requires care to avoid accidentally spending inscription-bearing UTXOs; Taproot and PSBT-aware tools are recommended.

What is BRC-20 and how does it work?

BRC-20 is an experimental token standard proposed by the pseudonymous developer domo in early 2023. Instead of smart contracts, it uses Bitcoin’s Ordinals inscriptions (text embedded on satoshis) and off-chain indexers to interpret token actions.

• Deploy: A JSON inscription defines a token’s ticker symbol, maximum supply, and mint limits.
• Mint: Addresses inscribe “mint” actions that indexers count toward the token’s supply.
• Transfer: Holders inscribe “transfer” intents and then move specific UTXOs; indexers track balances by reading these events and associated outputs.

Because Bitcoin does not track token balances natively, different indexers can produce slightly different views of BRC-20 state. That makes BRC-20 a social consensus system layered on top of Bitcoin’s data, rather than a formalized protocol in consensus rules. For background on Ordinals and inscriptions, see the Ordinals documentation and overviews from reputable sources such as the Ordinals docs and Binance Academy:

• Ordinals overview: docs.ordinals.com
• Bitcoin Ordinals and inscriptions explained: Binance Academy
• BRC-20 explained: Binance Academy

What is ORDI?

ORDI is the inaugural BRC-20 token—the first deployment that demonstrated the fungible-token experiment on Bitcoin using Ordinals. Its parameters (e.g., capped supply and mint limits) were defined in its original deployment inscription. ORDI’s significance stems from its first-mover status, cultural relevance within the Ordinals community, and subsequent liquidity that formed around it.

To verify market data and listings, you can reference:

• ORDI on CoinMarketCap: coinmarketcap.com/currencies/ordinals
• ORDI on CoinGecko: coingecko.com/en/coins/ordi

Why ORDI matters

• First of its kind: As the earliest BRC-20 token, ORDI cemented the pattern many subsequent tokens followed.
• Cultural impact: ORDI became a touchstone for Ordinals enthusiasts, similar to early NFT collections on other chains.
• Liquidity and integrations: Marketplaces, indexers, and wallets built flows for ORDI, which helped standardize user experiences for BRC-20.

That said, ORDI is not governed by Bitcoin consensus rules and does not have a built-in utility beyond its role as a community asset. Its value is primarily social and speculative, and its behavior depends on indexers and tooling that interpret inscriptions.

BRC-20 vs. newer approaches (Runes)

In April 2024, the Runes protocol launched to offer a more UTXO-friendly way of minting and transferring fungible tokens on Bitcoin, aiming to be less spammy and more efficient than earlier approaches. As of 2025, Runes continues to attract interest, and tooling is improving across both ecosystems. If you want a primer on Runes, see:

• Runes overview: Binance Academy
• Ordinals documentation: docs.ordinals.com

Runes doesn’t invalidate BRC-20; it provides an alternative design. ORDI’s historical and cultural role remains unique, but developers and users are paying close attention to Runes for potential long-term efficiency.

Key risks to understand

• Indexer dependence: Balances and transfers are interpreted by indexers. Discrepancies across indexers can lead to confusing outcomes (e.g., “invalid” mints or transfers according to certain rules). See the primer on BRC-20’s indexer model: Binance Academy.
• Congestion and fees: Token activity can raise demand for blockspace, increasing fees for everyone on Bitcoin. Track current fees at mempool.space.
• UTXO handling: Inscriptions are bound to specific satoshis/UTXOs. If you accidentally spend the wrong UTXO, you can unintentionally move or lose your inscription-related assets. Taproot-aware wallet flows help reduce this risk.
• Protocol evolution: The broader Ordinals ecosystem is still evolving. Changes in popular tooling or standards could affect liquidity or handling of BRC-20 tokens.

How to buy, store, and transfer ORDI safely

• Where to get ORDI:

  • Centralized exchanges: Many users acquire ORDI on major exchanges and withdraw to a Bitcoin address that supports inscriptions. Verify the ticker and contract mapping via CoinMarketCap or CoinGecko.
  • On-chain marketplaces: If you use Ordinals/BRC-20 marketplaces, ensure compatibility with your indexer and wallet, and double-check inscription IDs.

• Addresses and formats:

  • Use a Taproot address (starts with bc1p…) when possible; it’s commonly used in the Ordinals ecosystem and works well with modern wallet tooling. Taproot details: Bitcoin Optech.

• Transaction construction:

  • Use PSBT (Partially Signed Bitcoin Transactions) flows to avoid unintentionally spending inscription-bearing UTXOs and to keep signing isolated from broadcasting devices. PSBT overview: Bitcoin Optech.

• Operational tips:

  • Separate UTXOs: Keep inscription-related UTXOs separate from “spendable” BTC used for fees to minimize accidental transfers.
  • Verify with your indexer: Before and after actions (mint/transfer), confirm status on the indexer your wallet or marketplace uses.
  • Track fees: Check the mempool and set appropriate fee rates to avoid stuck transactions, especially during busy periods. Monitor at mempool.space.

2025 ecosystem notes

• Runes adoption is growing: Builders continue to support both BRC-20 and Runes, and some marketplaces offer cross-support. Efficiency debates remain active as users test real-world workflows. See background on Runes: Binance Academy.
• Tooling maturity: Wallets, explorers, and indexers are converging on best practices (e.g., taproot-first, PSBT signing, fee awareness). Ordinals documentation is a solid reference for conceptual grounding: docs.ordinals.com.

Should you hold ORDI?

ORDI functions mostly as a community and speculative asset. Its significance lies in being the first BRC-20 token and a symbol of Bitcoin’s inscription era. If you choose to hold it, plan for indexer-dependent behavior, possible fee spikes, and evolving standards. Make sure your wallet setup can safely handle inscription UTXOs and supports Taproot and PSBT.

Final thoughts and a practical recommendation

If you plan to store ORDI long-term, a hardware-backed signing setup is a strong choice. OneKey can act as an offline signer for Bitcoin, with Taproot and PSBT support, helping you avoid accidental spends of inscription-bearing UTXOs while keeping private keys off your online device. Pair OneKey with a compatible Ordinals/BRC-20 front end and an indexer you trust, and maintain separate fee UTXOs for smooth operations. This approach gives you the security of cold storage while retaining the flexibility to interact with the evolving BRC-20 ecosystem.

For conceptual references and ongoing learning:

• Ordinals docs: docs.ordinals.com
• BRC-20 overview: Binance Academy
• Bitcoin Taproot: Bitcoin Optech
• PSBT best practices: Bitcoin Optech
• Network fees and mempool status: mempool.space
• ORDI market pages: CoinMarketCap, CoinGecko

As with all crypto assets, do your own research, verify sources, and test your workflow with small amounts before moving significant value.