Project highlights
CounterpartyICP is a bridge between the legacy Bitcoin asset protocol Counterparty and the modern capabilities of the Internet Computer (ICP). It enables developers and users to access, manage, and interact with Counterparty assets via a smart Motoko module, with plans to launch a DEX for liquidity between ckBTC and Counterparty tokens.
Target users:
- Developers building Bitcoin or ICP-based dApps
- Traders of Counterparty tokens
- Communities relying on decentralized infrastructure for asset issuance and trading
We address the limitations of the Counterparty ecosystem: outdated tooling, lack of programmability, fragmented liquidity, and high transaction costs on Bitcoin.
Web3 advantages
Unlike Web2 financial systems or centralized exchanges that silo Bitcoin-native assets, CounterpartyICP provides a decentralized alternative built on open standards. It empowers users to trade and build with Counterparty assets without relying on CEXs or outdated explorers.
With ckBTC and ICP, we bring smart contract support and low fees to Bitcoin-based token trading — something simply not possible in traditional Web2 infrastructures.
How is it built
Built in Motoko
Interfaces with Counterparty APIs via HTTP outcalls
Implements a multi-endpoint consensus mechanism (51%) for data reliability
Manages computation cycles for canister execution
Uses open-source libraries and standard Motoko modules
Architecture decisions:
- Consensus-based validation to ensure data integrity from external APIs
- Modular structure for future expansion (DEX, wallet support)
- API transformations for normalized, developer-friendly output
GitHub: CounterpartyICP Repository
ReadMe: Project README
Internet Computer superpowers
ICP allows us to:
- Run backend logic in canisters that make direct, verifiable HTTP outcalls
- Use cycle-based execution to manage requests to Bitcoin-based endpoints
- Seamlessly integrate with ckBTC for bridging liquidity from BTC
- Build and deploy a highly scalable, low-cost infrastructure without relying on L2 bridges or centralized nodes
Go-To-Market strategy
- Launch support for key Counterparty tokens via the DEX
- Engage Bitcoin-native and Counterparty communities through demo content and technical tutorials
- Promote the open-source module for developers building hybrid Bitcoin–ICP apps
- Leverage visibility from the DFINITY Grant and ecosystem support
Monetization
The core module will remain open-source, but monetization will come from:
- Small protocol fees on swaps and pool creation
- Premium API or data services
Status of the project
Phase I complete (Hackathon submission):
CounterpartyAPI.mo
deployed on testnet- Consensus logic and modular architecture implemented
- ReadMe and license published
- Candid interface available
Canister: ICP Dashboard – CounterpartyICP
Phase II in progress:
- Pull request submitted for Motoko Bitcoin library (P2WPKH support)
- Optimizations for parallel HTTP outcalls and IPv6 support
- Preparation of full DEX architecture and ckBTC liquidity integrations
Resources
Website: firemints.xyz
GitHub: ImagiNFT/CounterpartyICP
Twitter/X: @Universelle_io
License: GNU GPLv3 License
YouTube (coming soon)
Future Plans
- Launch DEX frontend for ckBTC–Counterparty swaps
- Improve token discovery and explorer functionality
- Integrate Internet Identity or Plug for wallet support
- Publish full tutorials and SDK
- Apply for further grants to expand functionality
- Present at Web3 developer events and ICP ecosystem meetups