Why inscribe data onto a computing layer?
Some thoughts on ERC20i :
Inscriptions: A new way to embed data
Ordinals introduced the concept of permanently inscribing static data onto Bitcoin satoshis, creating immutable NFTs. However, this approach has limited flexibility and computational capability, requiring a social layer to read or write NFT data.
The Bitcoin community is exploring the potential of adding more computational abilities through proposals like BIP 420. Ethereum, on the other hand has long been the standard for programmable blockchain tech.
Ethereum's Turing-complete environment supports complex smart contracts, allowing for more expressive token standards like ERC-721, which underpin most NFTs. However, storing data directly on Ethereum can be costly, so ERC721 stores an external pointer for image data.
Enter ERC-20i
ERC20i is a new innovative token standard on the Base network that extends the capabilities of traditional ERC-20 tokens. This standard inscribes data onto each token, making them unique and dynamic as this data changes with every transaction in a predetermined way
They behave like regular ERC-20 tokens and can be used across all Dapps and DeFi trading products such as Uniswap. Storing data on-chain is also cheaper on @Base, making it a more affordable option.
ERC-20i's were introduced by @toddstooldoteth with the launch of @Fungi_ERC20i and you can find the WP here - https://t.co/a9cU0xfqNN.
Other projects, such as @JelliERC20i, are using the protocol to create animated NFTs. These tokens are fully on-chain, hosting dynamic art without needing third-party storage.
Fungi: Where Art Meets Community
A unique' seed' is generated with each buy, sell, or transfer of $FUNGI, creating a Fungi NFT that's attached to a wallet.
There are two types of inscriptions- A dynamic inscription changes with every transaction, while a stable inscription remains unchanged. If the entire amount of tokens linked to an inscription is moved, the art remains intact.
ERC-20i's can be easily recognized as part of a collection, combining the memecoin effect with a sense of community. By integrating unique characteristics into each token along with the advantage of being highly liquid, projects can build a sense of identity and storytelling around tokens, fostering a deeper connection with their holders.
Your favorite funny 4chan frog is officially 2 years old today.
To all those who have come and gone, and those who are still with us, here's to another year, frens. We survived and aren't going anywhere.
Happy 2nd Birthday to $HONK! ๐คก๐
one of the TELL TALE sign on $upeg was the hook being approved by Uniswap AT LAUNCH.
FEW truly understand.
This isnt the smoking gun, it's the gun firing in front of your eyes.
It's almost as if Uni was tasked with growing by i dont know... blackrock maybe... and they had to grow the volume... by maybe democratizing hooks... and maybe removing liabilities/ bottleneck of hooks approval... by stealth launching something to fix it all...
I don't know. Just imagining things.
โผ๏ธ@pepinscriptions is getting close to the 10,000 ID markโผ๏ธ
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๐ธAnything below #10K will have ๐ธ๐ธ๐ธ๐ธunequalled provenance value ๐ธ๐ธ๐ธ
๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ
The rarest of Pepis ๐
some $upeg lore most dont realize
the original name for uniswap was 'unipeg'.... vitalik renamed it
this is yet another clue that points you to the true intent of unipeg as the v4 hook flagship
it was launched by the uniswap team themselves
it is intended to progress ethereum and defi
it was fair launched with no reveal of the powers behind it for a reason
it will revive eth and bring novel asset driven excitement back to the chain
dont sell your upegs early
$200m market cap incoming
@gainzy222 Peep $Pepi
Itโs the UWL choice ๐๐ผ
Better tech and predates $upeg for NFT2.0. Great dip from $140 last mo to $15 now.
Pepe levels up at 1/2/4/6/8 tokens
Only 13,360 tokens fully circulating and deflating
https://t.co/WLHfentZ9m