As the title shows, the current price of ERC20's leading $eths is 1.398ETH, which is about 2600U per piece, while the original MINT price was only 2-3U per piece, and the early off-site price was about 50U.
So this is indeed a thousand-fold track. Although it is not as good as the $ORDI and $SATS of the brc20 track, it is already quite good compared to other inscription tracks.
EthscriptionsConcept
Ethscriptions are an alternative to smart contracts and L2, which today are centralized.
It is also a protocol that allows users to share information and perform calculations on Ethereum L1 at extremely low cost.
This is achieved by bypassing smart contract storage and execution and instead computing state by applying deterministic protocol rules to “dumb” Ethereum call data.
The goal of Ethscriptions is to enable ordinary users to perform decentralized computing at an affordable price.
Today, Ethscriptions mainly serve as cheaper NFTs, and on August 7, 2023, the Ethscriptions Virtual Machine (ESC VM) was proposed, a new protocol built on top of Ethscriptions. The purpose of the ESC VM is to enhance the functionality and scope of the Ethscriptions protocol by enabling it to act as a general-purpose computing engine.
Founder: Middlemarch@dumbnamenumbers, equivalent to BRC20 domo
Michael Hirsch@0xHirsch
The first protocol token ETHS
Ethscriptions minting and secondary trading market: https://www.etch.market/tokens
Ethscriptions official Twitter: https://twitter.com/eths_official
Born on June 17 this year, the Ethereum inscription protocol Ethscriptions was launched. The casting cost of its text token $eths was about 0.5 U. Within a few days after the casting was completed, the over-the-counter price reached 100 U, which was an early Participants brought hundreds of times benefits.
As you can see in the picture below, the current number of holders is 2,208, which is still far behind the number of holders of ORDI, which is 13,196. The market value of ETHS is US$55 million and that of ORDI is US$150 million, a gap of 3 times. The total amount of both is 21,000,000.
development path
On June 17, Ethscriptions was founded. The first officially launched project was Ethereumpunks. It was all completed about 2 hours after it went online. The current secondary floor price is 0.006 E.
Although Ethereumpunks is the first officially launched project, the market response is not strong. What really makes Ethereum Inscription stand out is $eths, which brings eye-catching profits.
On July 25, founder Tom Lehman announced on Twitter that Ethscriptions Marketplace V2 was officially launched.
On August 8, the ESC VM (Ethscriptions Virtual Machine, Ethereum Inscription Virtual Machine) testnet was launched, taking Ethscriptions to a new development trajectory.
On September 8, Ethscriptions officially announced $eths as their official token
On the evening of October 8, the volume and price of $eths rose sharply from about 300 U to 800 U, causing widespread discussion.
FACETSWAP
Background of the project
Website: http://facet.org
Email: hello@facet.org
Discord: http://discord.gg/facet
GitHub: http://github.com/0xfacet
Facet is the new name for the decentralized low-cost trading platform built by Middlemarch and Michael Hirsch. Before this, this project was called dumbswap, but it has now been renamed Facetswap. The previous protocol was the Ethscriptions virtual machine, and now it is called the Facet protocol or simply Facet.
This gives the project a larger story background. Backed by the ERC20 protocol in the Inscription Track, it has now secured its second position, and the leading project, ETHS, is already close to 3000U per piece. So with this Dongfeng, FACET can develop better.
Project route
1. The official Inscription split bridge and FacetSwap dedicated to eths Inscription will be launched on the mainnet in November this month!
2. The detailed arrangements and exact launch time of the mainnet will be officially disclosed next week.
3. Holders of eths inscriptions will continue to receive benefits from other projects in the Ethscriptions ecosystem.
4. The first exclusive benefit for eths inscription holders is coming soon. Holders of eths inscriptions will have the opportunity to get Free Mint, a well-known NFT project of Ethscriptions. The specific details are waiting to be announced.
Token situation
Capitalized $Facet, total 21,000 single sheets, 1,000 coins
Lowercase $facet, total 21,000 sheets, 1,000 coins
Price 0.02199ETH Market value 461.79ETH
Why are there uppercase and lowercase letters? Because of indexing issues and the fact that the mainnet was not online, and uppercase and lowercase FACET were deployed almost at the same time, the community was divided. And there are two trading markets.
Etch - mainly facet transactions in lowercase; URL: https://etch.market/market
And https://ethsmarket.xyz/market is mainly transactions in uppercase letters. Please pay attention to the distinction.
Since the founder has always used capitalized $Facet and emphasized index consistency many times, we recommend using capitalized Facets. But no matter how it is handled in the end, we hope it will not affect the development of the project.
evaluate
Compared with the price and market value of Longyi $eths, $Facet still has a long way to go. Although the two founders are Middlemarch, their missions are different. Facet is a swap. As a platform currency, its advantages will not be highlighted until the mainnet is launched, so we believe that the reasonable valuation of $Facet is between 0.1ETH-0.2ETH, and the overall market value can be 1/5 of ETHS. But what the final market will look like depends on the development of the overall ERC20 track. This is a place that can create miracles after the BRC20 track.
IERC20-$ethi
IERC-20 Official Twitter@EthinscXYZ
This new protocol belongs to the Ethereum Inscription protocol. IERC20 is the ETH inscription token protocol and is responsible for standardizing the inscription token protocol. Anyone can deploy his tokens, mint tokens and trade tokens on IERC20.
ETHI is the first token in the IERC20 ecosystem and the current price is 0.016ETH
Trading market: https://www.ierc20.com/
Others: Image Market https://ethscriptions.com/
Generally speaking, ERC20/Ethscriptions can only benchmark against BRC20, although the official wants to benchmark against the Layer 2 track. But the gap is too big, even compared to the brc20 track. After all, except for Long-Long Er, the other players are not very involved. The reason for the current popularity is also because of the wealth effect caused by the sharp increase in the leading position. But after the market calms down, it is still Need to build to attract more users.
Three development stages can be set:
Phase 1: In this phase, $eths is comparable to $ordi;
Phase 2: In this phase, $eths is the token. The base layer can be compared to Arbitrum or Optimism, and will give birth to different types of native projects
Phase 3: In this phase, Ethereum mainnet projects will expand to the dumb contract ecosystem.
This can be regarded as clarifying the development goals, and we look forward to more high-quality ERC20 projects in the future.
