Currently, the single price of $ETHS, the leading token on the ERC20 chain, is 1.398ETH, which is approximately US$2,600 per unit. In comparison, the early MINT price of the token was only $2-3, while in the early OTC market, the price reached around $50.
Therefore, it is safe to say that the ERC20 token track has achieved more than a thousand-fold growth, and although it has not performed as well as $ORDI and $SATS on the BRC20 track, it has performed well compared to other crypto token tracks outstanding. EthscriptionsConcept
Ethscriptions are an alternative solution to smart contracts and L2, especially in the current situation where L2 tends to be centralized. It is a protocol designed to allow users to share information and perform calculations on Ethereum L1 at a very low cost.
Ethscriptions work by applying deterministic protocol rules to call data on "dumb" Ethereum, rather than relying on smart contracts for storage and execution to calculate state. Its goal is to enable ordinary users to perform decentralized computing at a reasonable price.
Currently, Ethscriptions are mainly used for more cost-effective NFTs, but on August 7, 2023, they introduced the Ethscriptions Virtual Machine (ESC VM), a new protocol designed to enhance the functionality and application scope of the Ethscriptions protocol, allowing It can act as a general computing engine.
The first protocol token ETHS
The minting and secondary trading market for Ethscriptions can be found at https://www.etch.market/tokens.
You can also follow Ethscriptions’ official Twitter at https://twitter.com/eths_official.
Ethscriptions Launched on June 17, 2023, the Ethereum Inscription protocol launched its text token $eths, which costs approximately $0.5 to mint. Within days of minting, the token’s OTC price had reached $100, bringing early participants a hundredfold gain.
Currently, Ethscriptions has 2,208 holders, while ORDI has 13,196 holders. In terms of market capitalization, ETHS is US$55 million, while 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 created. The first officially released project was Ethereumpunks, which was completely sold out about 2 hours after it went online. The current secondary market price is 0.006 Ether.
Although Ethereumpunks is the official first project, the market response is not strong. What really made Ethereum Inscription a buzz was $eths, which brought in impressive gains.
On July 25, founder Tom Lehman tweeted to announce the official launch of Ethscriptions Marketplace V2.
On August 8, the Ethscriptions Virtual Machine (ESC VM) testnet was launched, bringing a new development direction to Ethscriptions.
On September 8, Ethscriptions officially announced $eths as their official token.
On the evening of October 8, the trading volume and price of $eths rose sharply, from approximately US$300 to US$800, triggering widespread discussion.
FACETSWAP
Project Overview Website: http://facet.org
Email: hello@facet.org
Discord community: http://discord.gg/facet
GitHub repository: http://github.com/0xfacet
Facet is a low-cost decentralized trading platform jointly developed by Middlemarch and Michael Hirsch. It was formerly Dumbswap and has now been renamed Facetswap. The protocol originally based on the Ethscriptions virtual machine is now called the Facet protocol or simply Facet, giving the project a richer historical background. Facet is built on the ERC20 protocol in the Inscription Track and is currently firmly in the second place. Compared with the leading project ETHS, which is close to $3,000 per token, Facet has broader development prospects on this basis.
Project route
In November of this month, eths Inscription’s exclusive split bridge and FacetSwap will be officially launched on the mainnet!
The detailed plan and exact time for the mainnet launch will be officially announced next week.
Holders of eths inscriptions will continue to benefit from other projects in the Ethscriptions ecosystem.
Holders of ethscriptions will soon receive exclusive benefits. They will have the opportunity to mint tokens of Ethscriptions' well-known NFT projects for free. Specific details will be disclosed later.
Token situation
The total amount of capitalized $FACET is 21,000, with each ticket containing 1,000 tokens.
The total amount of lowercase $facet is also 21,000, the price of a single ticket is 0.02199 ETH, and the market value reaches 461.79 ETH.
The difference in case is mainly due to indexing issues and the fact that the mainnet has not yet been launched. There are both uppercase and lowercase FACET, leading to disagreements in the community. In addition, there are two different trading markets.
Etch mainly uses lowercase facet transactions, and the website address is: https://etch.market/market.
And https://ethsmarket.xyz/market is mainly capitalized transactions. It is recommended to follow the capitalization $FACET that the founders have always used, and to emphasize index consistency. No matter what the final decision is, we hope it will not affect the development of the project.
evaluate
Compared to the leading token $ETHS, $Facet does still have a long way to go. Although the founders of both are Middlemarch, their missions are different. As a decentralized trading platform token, $Facet’s advantages cannot be revealed until the mainnet is launched. Therefore, we believe that a reasonable valuation for $Facet should be between 0.1 ETH and 0.2 ETH, with the overall market cap possibly equivalent to one-fifth of $ETHS. However, ultimately the performance of the market will also be affected by the development of the overall ERC20 track, which is an area that can do wonders, following the BRC20 track.
IERC20-$eth
IERC-20 is part of the Ethereum Inscription Protocol and is responsible for standardizing the Inscription Token protocol. This new protocol brings us under the umbrella of the Ethereum Inscription Protocol. On IERC20, anyone can deploy, mint and trade their tokens. ETHI is the first token in the IERC20 ecosystem and is currently priced at 0.016 ETH. You can view more information on the exchange market: https://www.ierc20.com/.
Overall, the ERC-20/Ethscriptions protocol can be compared to the BRC-20 protocol to some extent, although it is officially designed to compete with the Layer 2 field. However, the reality is that the gap between them is relatively large. Participation is relatively low outside of the important network of Ethereum, where only a few projects have attracted large-scale users.
The current market enthusiasm is mainly due to the wealth effect brought about by the surge in leading projects. However, after the market calms down, these protocols may need to take more measures and strategies in order to attract more users and continue ecological construction.
Development goals can be divided into three stages to clarify the direction of development:
Phase 1: In this phase, $eths will be on par with $ordi and others as a potential protocol.
Phase 2: In this phase, $eths will serve as a universal token, become part of base layer protocols such as Arbitrum or Optimism, and will incubate different types of native projects.
Phase 3: In this phase, projects on the Ethereum mainnet will expand into the dumb contract ecosystem to achieve broader development.
These clear development stages will help the project better plan and implement future development strategies and attract more high-quality ERC-20 projects to join the ecosystem.