Token protocol on BSV

One unit. One satoshi.

ORD20 is an open token standard on Bitcoin SV. A balance is not a number written in a JSON text — it is the value of the output itself. Every token output carries a covenant that enforces the rules on-chain, so a transaction that breaks them fails on the network, not in a database.

Start minting Read the protocol

Checking indexer…

Token card · output 0 application/json

{ "p": "ord-20", "op": "deploy", "ver": 1, "sym": "EXAMPLE", "cap_mode": "capped", "cap": "100000000", "premint": "0", "x": "100000", "mint_fee": "1000", "m1_enabled": true, "fee_default": "token", "mint_vout": 1 }

example card · not a live token read the spec →

How it works The contract enforces the rules. The indexer establishes provenance.

Deploy A deploy publishes two things: the token card with the parameters, and the mint contract, still inactive. Cap, premint, units per mint and the mint fee are fixed at that moment and can never change.

out 0 = card · out 1 = mint state

Mint The issuer activates and takes the premint. After that the public can mint, if the issuer left it open: one satoshi per unit plus the issuer's mint fee, capped per transaction. The issuer can close issuance for good.

1 unit = 1 sat + mint_fee

Hold, send, exit Sending is an ordinary spend: the whole output moves and the remainder returns to you. The fee comes from your tokens or from your BSV, your choice per transaction. And you can always step out and turn units back into plain BSV.

balance = output value

Minting now One satoshi per unit, plus the issuer's mint fee. When the cap is reached, issuance is over.

All mints →

Tokens Open explorer →

# Symbol Holders Cap Minted

Two symbols are unique per id, never per name. Verification comes from the ORDnet .web3 registry.

Why it holds

Backed by satoshis Every unit represents one underlying satoshi. The holder can always release it back to plain BSV. There is a floor, before costs.

No BSV needed after entry Transaction costs may be paid out of the tokens themselves. Getting in costs satoshis; everything after that does not.

Nobody can take them No freeze, no confiscation, no co-signing key — not by the issuer either. There is no path that spends a holder's output without the holder.

Issuance is finite and visible Cap, premint, units per mint and the mint fee sit immutably in the card. Buyers can see how a token was set up before they touch it.

Enforced, not interpreted A transaction that breaks the rules fails on the chain. The indexer adds one thing on top: provenance — whether an output really descends from a real deploy.

Read the rules before you trust them. The specification, the reference validator and the test fixtures are public. Given the same chain, any implementation reaches the same state.

Read the protocol