What is the ERC314 protocol? Previously, the ERC404 protocol was very popular. Recently, another 314 protocol, Simp, was very popular. It was launched on the 21st and has a market value of 50 million US dollars. It is an experimental token. Let's take a look at the main features of this protocol:

Features of ERC314

- No need to rely on DEX or SWAP for transactions: ERC314 tokens can be transferred directly like native tokens, without the need for DEX or SWAP for transactions. This makes transactions simpler, faster, and reduces transaction costs.

-Customizable token properties: The ERC314 standard allows token creators to customize the token’s name, symbol, total supply, destruction mechanism and other properties.

-Support token distribution and destruction: ERC314 standard supports token creators to distribute and destroy tokens through smart contract Q.

-Improve transaction security Q: The ERC314 standard adopts a new security mechanism to improve transaction security.

On the evening of March 20, 2024, the ERC314 protocol token SIMP was officially launched. The project previously raised 20 ETH of funds, with a total of 1 million tokens. The fund allocation ratio is 45% for liquidity provision (LP), 45% for seed round pre-sale, and 10% for multi-signature CEX wallets. The uniqueness of this project is that users can buy tokens by transferring ETH to its contract, or sell them by sending tokens to its contract, and the gas fee is much lower than that of DEX transactions.

The price soared 100 times on the day the project went online, reaching a peak of $53. However, on March 21, the official Twitter account of ERC314 @Simplify_ERC314 posted a message saying that the project was a social experiment. Soon after, community members reported that there were formula problems with the protocol, the LP owner rights were not actually transferred, and many people were attacked by MEV during the transaction, resulting in increased trading losses. Although professional smart contract engineers later explained the part of the formula xy=k, saying that this formula was used when selling but not when buying, it still raised some questions. In less than a day, the price plummeted from the highest point to around $6, a drop of nearly 90%, and then it was close to zero at one point, with the price falling to around $0.08. The price has now recovered to about $4, and a plug-in has been added to prevent MEV attacks.

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With the launch of the ERC314 protocol, the 314 protocol craze has gradually spread to various blockchains. The protocol standard that attracted attention before may be the ERC404 protocol led by Pandora. Therefore, new projects have emerged in an endless stream recently, and this trend will definitely spread to other places.

On the BSC chain, the X314 token was launched on March 27, and achieved a thousand-fold increase in just two weeks. The initial price was $0.00349, and the current price is about $3, and it once exceeded $5.3. It can currently be exchanged and purchased on X314.app.

In addition, on March 22, the LONG314 token deployed on the BSC chain was also launched. Users can trade tokens by transferring BNB to the contract address.

The project official stated on March 26 that in order to optimize the defects of ERC314 and LONG314, it plans to expand and upgrade the protocol, adding a sales cooling mechanism and LP burning mechanism to avoid robot attacks and drive up token prices.

On March 29, the X314 protocol token deployed on the BSC chain was also launched.

On the 29th of the same month, X314 started a staking lottery event. The contract was upgraded to a 60-second transaction cooldown, automatically burning 6% LP every day, and destroying more than 1 million X314 tokens every day.

By April 8, the price of X314 tokens continued to rise, breaking through $5.3 at one point.

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Here is an overview of the most popular 314 token projects:

1. X314: The price is about $3, and the total supply is 21 million. The circulating market value is about $33 million, and the total LP liquidity is about $1.8 million. As the leader of the protocol, X314 inherits and innovates ERC314 and LONG314, introduces a sales cooling mechanism and LP burning mechanism, and conducts a 90-day staking incentive activity and a community user incentive lottery. Twitter followers are about 12,000.

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2. LONG-314: The price is about $0.15, and the total supply is 21 million. The circulating market value is about $6.18 million, and the total LP liquidity is about $360,000. LONG314 is a token issued on the basis of ERC314, issued by the X314 project, and bound to the 314 protocol Swap platform LongSwap.

3. BNB314: The price is about $0.04, and the total supply is 20.23 million. The circulating market value is about $1.08 million, and the total LP liquidity is about $250,000. BNB314 was launched on April 6, and is consistent with X314 in terms of buying and selling operations, transaction cooling mechanism, and clamp prevention, but the LP deflation rate is 12% per day.

4. Y314: The price is about $0.04, and the total supply is 20.4 million. The circulating market value is about $900,000, and the total LP liquidity is about $130,000. Y314 was launched on April 6, and the main feature is "the first 314 protocol chromosome concept coin", but the risk is relatively high and the correlation with X314 is relatively weak.

5. BTC314: The price is about $0.04, and the total supply is 17.8 million. The circulating market value is about $720,000, and the total LP liquidity is about $130,000. BTC314 was launched on April 5, similar to other 314 protocol tokens, but the 24-hour automatic burning of LP is only 2%.

Finally, let's summarize the 314 protocol, which is also a new thing. Although the first version has problems, it is also innovative. It is directly exchange-based. New things are emerging in an endless stream. Then we must also maintain a certain curiosity and continue to explore. In fact, the rune page is very popular recently. These new things can be tried. For example, use a small amount of funds to play X314, or play this rune. Then we will talk about the token strategy in the planet. #热门话题 #BTC、