Glossary

Terms

bits — The 4-byte field in every Bitcoin block header that encodes the network's difficulty target. Field 11 in DMT's element registry. The source of $BIT supply.

DMT (Digital Matter Theory) — A Bitcoin-native framework for creating tokens whose supply is derived deterministically from data inside Bitcoin blocks. Built on top of TAP Protocol. See Digital Matter Theory.

dmt-deploy — The TAP operation that registers a DMT token. One-time per ticker, first-deploy-wins. See Deploy.

dmt-mint — The TAP operation that claims a DMT token's supply attached to a specific Bitcoin block. See Mint.

Element (.element) — A text inscription on Bitcoin that registers a namespace bound to a block-data field. See Element.

Fair-mint — A token launch with no team allocation, presale, or reserved supply. Every unit comes from public minting.

Field 11 — The DMT element registry's index for Bitcoin's bits field. The element name dmt.11.element references this field.

First-deploy-wins — TAP convention: the first valid inscription registering a given ticker is canonical; subsequent deploys of the same ticker are ignored.

First-valid-inscription wins — TAP convention for mints: per (ticker, block), only the first valid dmt-mint is honored. Same rule, different scope.

Hybrid token model — A property of DMT mints: each mint inscription is simultaneously a fungible balance and a non-fungible ordinal. See Hybrid token model.

Indexer — A service that reads Bitcoin block data and Ordinals inscriptions, replays valid TAP operations, and maintains authoritative token balances. Trac and GeniiData are common TAP indexers.

Inscription — An Ordinals concept: arbitrary content (text, JSON, image, etc.) recorded on Bitcoin via taproot witness data, anchored to a specific sat. TAP operations are inscriptions.

Mantissa (coefficient) — The 3-byte significand of the bits field. Combined with the exponent to compute the full difficulty target.

Non-arbitrary token (DMT term) — A token whose supply parameters are derived from public chain data rather than chosen by a team.

Ordinal — An individual sat tracked by Ordinals theory. Inscriptions are anchored to ordinals.

TAP Protocol — A token-layer protocol on Bitcoin Ordinals. Defines token operations like deploy/mint/transfer via JSON inscriptions. DMT extends TAP with dmt-deploy and dmt-mint opcodes.

Ticker — A token's short name. Case-insensitive in TAP. 3 or 5–32 UTF-16 chars. Unique-first-deploy.

token-transfer — TAP operation for moving fungible balances between wallets. For DMT tokens, ticker is prefixed with dmt-. See Transfer.

Whole-field minting — A DMT element configuration where mint quantity per block equals the integer value of the entire field, with no pattern matching. $BIT uses this mode.