Arbscriptions Protocol

Arbscriptions are a new way of creating and sharing digital artifacts on Arbitrum using transaction calldata.

[Arbscriptions Protocol @Arbscriptions]

1/ Arbscriptions are a new way of creating and sharing digital artifacts on Arbitrum using transaction calldata. These arbscriptions are characterized by their unchangeable nature, ensuring that the data remains permanently stored on the Arbitrum blockchain.
#Arbscriptions

[Arbscriptions Protocol @Arbscriptions]

Pretty good mechanism🤑

[founder j @j_eth_id]

Been asked to write a thread (being a threadoor) on @ethXY. Will go into technical details and token mechanics.

tl;dr - Entirely fair launch. There's no cut for insiders. If you stick with buying Level 0 plots only for 0.01 eth, you are guaranteed to pull out at least what you put in.

Background:
- @0xz80 and I created @ethXY as a hackathon project at EthGlobal Paris.
- We aimed to create the friendliest on-chain game you could play in a trustless way.
- We wanted to experiment with different game mechanics.
- Personal profit was not our motive. Everyone has an equal opportunity.

Mechanics:
- Purchasing a number of neighboring plots to form a square will render them together as a larger square.
- All plots start at 0.01 eth. Each time a plot is purchased, it is put up for sale for double its original price.
- When a plot is purchased from someone else, 75% of the proceeds go to the prior owner. (This means the original owner gets 150% of what they put in). 25% of proceeds get split amongst $EXY holders.
- $EXY starts with a supply of 0. There is no team share nor premine.
- You get 100 $EXY each time you purchase a plot, regardless of what level it is.
- 100% of the initial purchase price of 0.01 eth gets split amongst $EXY holders.
- The treasury accumulates from its 25% cut of plot purchases. We wanted to make the treasury unruggable. The only outflow from the treasury is burning $EXY.
- You can redeem your $EXY to claim your portion of the treasury. The actual equation is:

ETH claimed = [Your $EXY] / [Circulating $EXY] * Total Treasury

Strategy:
- Buying a high visibility, meme-able plot (0,0), (99,99), (69,69), (42,42) etc. means higher chance someone buys your plot for 150% direct return.
- Buying a Level 0 plot costs 0.01 eth, gives 100 $EXY. This means the treasury increases by 0.01 eth while the circulating $EXY increases by 100.
- 0.01 eth per 100 $EXY is the cheapest price to obtain $EXY.
- This means you can immediately burn 100 $EXY for at least 0.01 eth, effectively making minting free (except ~$2 gas cost)
- If someone else purchases a higher level plot for 1.28 eth, they still only get 100 $EXY. The treasury has increased by 1.28 eth but circulating $EXY only has increased by 100.
- As time passes and more expensive plots are purchased, the ratio becomes more and more favorable, representing a net profit.
- Early redemptions mean those who have exited do not get to accrue proportional rewards due to increasing plot price.
- Because the contract guarantees that 100 $EXY is at least redeemable for 0.01 eth, the ratio becomes favorable as time passes, optimal strategy dictates being the last person to redeem as best.

(NFA) Probably a good idea to pick up as many Level 0 plots as you can as they're effectively free. (minus gas costs). You get the optionality of profiting from $EXY while having no lock-in, freely able to be redeemed for Eth.

Contract - https://t.co/B13V7xqxvt

Treasury -
https://t.co/3CmI1lzp2r

[Arbscriptions Protocol @Arbscriptions]

Thanks to the community for the awesome animations!

[Arbscriptions Protocol @Arbscriptions]

Due to some discussions about the roadmap, updates have slowed down recently.❌
Thanks for the support from the community.✅

[Arbscriptions Protocol @Arbscriptions]

Continuing to work on developing new features.

[Arbscriptions Protocol @Arbscriptions]

5️⃣Using a fixed arbscription service fee, regardless of the number of bets involved, to channel more funds into the prize pool.
6️⃣Planning to support dedicated in-game tokens.

Pls stay tuned.

[Arbscriptions Protocol @Arbscriptions]

ARC-777 Preview: A gaming protocol based on the Arbscriptions. Here are a few general rules:
1️⃣Arbscription games follow simple and easy-to-play rules.
2️⃣Arbscription games have great scalability. You can imagine various types of games, such as PVP, RPG, team battles,and more.

[Arbscriptions Protocol @Arbscriptions]

3️⃣It consists of two steps: Game Deployment and Game Participation.
4️⃣Deploying a game follows the format:
{"p":"arc-777","op":"deploy","game":"xxxxx","lim":"10"}

[Arbscriptions Protocol @Arbscriptions]

We are working on implementing game deployment into the protocol to foster a thriving ecosystem. We hope to make progress soon, so stay tuned for updates.

[Arbscriptions Protocol @Arbscriptions]

@karl_m4rx

[Arbscriptions Protocol @Arbscriptions]

🆙UPDATE
Hey fam! We've got an exciting update for you.
The #bulk purchase feature you've been asking for is now live! When you visit the marketplace, you'll notice a shopping cart icon, making the process super convenient.
Happy shopping!

[Arbscriptions Protocol @Arbscriptions]

Our #ArbitrumFrogs adhere to the recursive BRC-69 standard, and we're thrilled by the positive response so far! 🐸🚀
Join the excitement and explore the fascinating world.

[Zap @ZapApp]

It appears that the experimental OrdiTroops collection which uses the new recursive BRC-69 standard is currently being inscribed!

Follow along live:

→ https://t.co/UhLhBwJeyP

[Jiurn @Jiurn]

What happened in the last 24 hours in the Bitcoin NFTs ecosystem

@VitalikButerin thinks that ordinals are ◻️◻️◻️ and much more,

A 🧵👇

1/11

[Arbscriptions Protocol @Arbscriptions]

Updates!
1️⃣ The #trading history feature is now live! Easily access and review the trading records.
2️⃣ We've heard your feedback, and #batch purchasing functionality is currently in development.
Stay tuned for more updates!

[Arbscriptions Protocol @Arbscriptions]

The #marketplace will soon feature #trading activity displays, and we are currently in the process of developing this feature.
We appreciate everyone's suggestions, and we look forward to introducing it to all of you soon. Thank you for your feedback.🏃

[Arbscriptions Protocol @Arbscriptions]

The Arbscriptions marketplace contract code has been #verified and is now available. You can view the contract code at the following link:👇
https://t.co/14ahEZ9PIp

[Arbscriptions Protocol @Arbscriptions]

🛸After testing, the #marketplace is officially live!
🤑Come and explore a wide selection of Arbitrum punks and frogs to find your favorites. Start collecting and trading now.
🏃This is a milestone moment! we will continue to support a diverse range of trading options.

[Arbscriptions Protocol @Arbscriptions]

🙏Apologies for the inconvenience!
Due to some necessary improvements, the marketplace launch will be delayed until 7:00 UTC.
We want to ensure the best experience for our users. Thank you for your patience.

[Arbscriptions Protocol @Arbscriptions]

In #RecursivePlayground, users have the power to craft stunning recursive artworks.
Imagine the possibilities when we integrate Recursive Playground with arbscriptions?
Poll or comment with your creative ideas!

[Arbscriptions Protocol @Arbscriptions]

In just a few short hours, all 10,000 Arbitrum Frogs were #snatched up, far exceeding our expectations. We've received messages expressing their disappointment for not being able to get one. We apologize and assure you that we'll keep working hard.

Here's what's coming up next: