Today, if you don’t know $POINTS, you may have missed another hot spot. This token, which currently does not even have a logo, is creating a "$POINTS trend" on Farcaster.
Farcaster members discuss "swiping the screen", how popular is $POINTS?
If you open Farcaster, you will see endless discussion posts about $POINTS.
At the same time, Linda Xie ( @ljxie ), co-founder and managing director of Scalar Capital and founder of Farcaster integration application Bountycaster, also posted on social platforms that support for $POINTS has been added to Bountycaster today. Because "people made requests and now we're processing a 30,000 $POINTS bounty."
The price increased by more than 2000% in one day after going online. What is $POINTS that is hotly discussed in the community?
According to Tradingview data, $POINTS has been on an upward trend since it went online yesterday. As of press time, the price of $POINTS is 0.0000323401 WETH (approximately US$0.07), an increase of 2898.062% since the beginning of the launch (0.0000010787 WETH, approximately US$0.0024). According to dexscreener data , the current circulation of $POINTS reaches 866,000 US dollars, with 1,310 holders.
In fact, $POINTS is the native memecoin of the decentralized social protocol Farcaster and can also be considered an off-chain derivative. jonwu.eth ( @jonwu_ ) of the L2 Rollup project Aztec.Network pointed out that $POINTS is a new incentive primitive that can significantly improve the scalability and practicality of ERC-20 and "will become the Key Innovations in the Second Bull Market”.
$POINTS essentially have the right to redeem for a certain amount of ERC-20 at a future date, but not the obligation to redeem. At the same time, $POINTS relies on a high-performance off-chain database system for storing and verifying personal point balances: "Although the server requires slightly higher trust assumptions, its performance is approximately 10 billion times that of Ethereum L1."
Additionally, $POINTS is scalable, with users earning $POINTS using Rainbow and L2 wallets like Blast, but also for non-blockchain use cases: “Imagine a payment card that rewards users in $POINTS , these $POINTS can be redeemed for air tickets, hotels and even meals in the future!”
Many people in the community believe that $POINTS is a huge opportunity to connect Web2 and Web3. Its application cases include motivating consumer loyalty, mining user behavior data, and scoring and ranking posts in forums.
"The Peak of Crypto Entertainment": The founder destroyed 75% of $POINTS during the live broadcast
The founder of $POINTS is Matthias Jordan, an OG in the crypto industry. He airdropped 1,000,000 $POINTS two days ago to degen who had "replyed to his message."
Meanwhile, Matthias noted on Farcaster that 80% of the maximum supply of $POINTS is planned to be burned, bringing the total potential supply down to 200,000,000: “Users will be allowed to mint the rest.”
In a live broadcast at 3 o'clock this morning, Matthias also publicly demonstrated the process of destroying 75% of the supply of $POINTS, which was dubbed the "peak of crypto entertainment" by community members. Matthias also gave a certificate of destruction and stated that "the largest The supply is $1,000,000,000 $POINTS and once all $POINTS have been minted, no more $POINTS can be created. The current maximum supply of 750,000,000 has been burned to reduce the number of tokens."
