Issuing assets based on BTC has always been a hot topic. From the earliest Colored Coins in 2011 to the recently popular Ordinal protocol, the BTC community has consistently been able to come up with new players and consensus, but few have stuck around. However, Lightning Labs has unveiled ambitious plans to develop stablecoins based on Taproot Assets. Tether also announced that it would utilize RGB protocol for minting USDT on Bitcoin's layer 1.