SATS rose 250% in two days, what happened to the BRC-20 market?
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Recently, the BRC-20 token sats has continued to rise. Coingecko data shows that in the past half month, the price of sats has been hovering around 0.00000002 USDT for a long time. In the past two days, the price has climbed rapidly, reaching a maximum of 0.00000007 USDT, with a maximum increase of nearly 250%. What has happened in the BRC-20 market recently?
Meme coins that Impossible to mint
When it comes to sats, the biggest impression people have on it is its extremely large supply. The total supply of sats is 2,100,000,000,000,000, which is 2,100 trillion, which is 100 million times that of Bitcoin.
Therefore, at the beginning of its launch, many users did not believe that this BRC-20 token would eventually be fully minted. But the enthusiasm of users is powerful, and sats, a meme named after Satoshi Nakamoto, was eventually fully minted.
On September 24, the casting progress of sats reached 100%, with the total number of castings reaching 21,107,258 times and 36,061 holders. The casting started on March 9, 2023 and took a total of 6 months.
Judging from the number of participants, there are enough sats, which to a certain extent represents sufficient "decentralization". Moreover, the token name itself is an "innate advantage", which also gives sats a certain advantage in the competition on the meme track.
Meme coins turned into utility tokens
As the scale of the sats community expands, UniSat, the largest wallet developer in the BRC 20 ecosystem, has also taken a fancy to this "hot potato". The UniSat team is trying to empower sats and increase application scenarios. (note: UniSat Wallet is a Chrome plug-in wallet for the BTC ecosystem, helping users store, mint and transfer BRC-20 tokens, including buying and selling BTC, NFT, domain names, etc.)
The story of Meme coin "empowerment" is not the first time it has happened in the crypto world. Previously, DOGE and SHIB had once triggered heated discussions in the market for "issuing chains". The story this time comes from the fee consumption of swap. In UniSat's latest brc20-swap, sats will be charged as a handling fee, which will cause users to consume a lot of sats.
UniSatWallet stated that brc20-swap will charge a 0.3% service fee to all users participating in the transaction. About 1/6 (0.05%) of this fee is collected by UniSat, and the remaining 5/6 (0.25%) is allocated to each trading pair. All liquidity providers. This fee structure is primarily based on the rate scale currently used by UniSwap. Regarding the use of handling fees, UniSat will donate 2% of its income to L1F (Layer1Foundation). In addition, UniSat will open the fully interpreted and verified source code of brc20-swap to facilitate early support of the indexer.
At present, the brc-20 protocol and even the entire Ordinals ecosystem are still in their early stages, and UniSat occupies a huge market share and influence. Sats is favored by UniSat and provides itself with great positive expectations. OKX data shows that sats generated approximately US$2 million in trading volume in the past 24 hours.
BRC20-swap went online with twists and turns
Previously, due to the "original" user experience and poor liquidity, brc-20 tokens still belonged to the "small circle" niche track, and the lack of infrastructure made it difficult for EVM whales to enter. The opening of UniSat's brc20-swap has opened a channel for more users to enter the Bitcoin ecosystem and trade BRC-20 tokens. The launch of this product has also experienced some setbacks.
On September 27, UniSat Wallet announced the launch of the brc 20-swap testnet, where users can mint BRC-20 tokens, deposit, trade and increase liquidity on its testnet.
On October 10, UniSatWallet announced the release schedule of the brc20-swap mainnet, which is planned to be launched on October 25.
On October 22, UniSat itself encountered technical difficulties. Some users discovered that different markets are using different versions of ord, which index different inscription numbers. Before MagicEden, OKX and UniSat Wallet all used the same ordinal number, there was a risk of double spending when trading BRC-20.
UniSat later issued a response on . We are monitoring the work of contributors and indexers and will promptly notify our users." On the same day, Magic Eden suspended BRC-20 trading.
On October 25, the original scheduled mainnet launch time for brc20-swap has arrived. However, UniSat delayed the launch of the product and postponed its mainnet launch to October 31. At the same time, it stated that during the initial mainnet launch, the team will continue to distribute Prime Access for free; as more users join, the team The performance of the system will be closely monitored and any issues that may arise promptly addressed; after a series of iterations, all features will eventually be made available to all users.
On November 1, Beijing time, the brc 20-swap mainnet was officially launched. However, unlike common "permission-free" DEXs, brc20-swap still requires a certain "permission" before trading can be started.
Among the first batch of online assets, UniSat has included 14 inscription assets in the first batch of support lists for the brc20-swap mainnet, namely: sats, ordi, trac, oshi, btcs, oxbt, texo, cncl, meme, honk, .bit, vmpx, pepe, mxrc. Specifically, asset open trading adopts an "on-demand transaction" model: only when a new user deposits relevant assets into brc20-swap, the withdrawal request can be used.
It seems too early to draw a conclusion on how far the BRC-20 ecology can go. It might as well let the bullets fly for a while and wait for development.
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How Can I Find Opportunities to Join the Web 3.0 Game From XWorld?
Web3 games, also known as decentralized games, are a significant innovation in the gaming industry enabled by the Web3.0 infrastructure. These games leverage blockchain technology and decentralized protocols to offer unique features and experiences to players.
Unlike traditional Web2.0 games, which are typically controlled by central authorities, Web3 games provide a decentralized and trustless environment where players have more ownership and control over their in-game assets. The advent of Web3.0 has brought forth a new era of possibilities for gaming users, offering unique opportunities and challenges. This article aims to delve into the evolving landscape of Web3.0 gaming, analyzing the potential benefits and hurdles that gamers encounter in this decentralized ecosystem.
What are the opportunities in Web3.0 for gaming users and game developers in XWorld?
In the world of Web3 games, exciting opportunities await both game users and developers.
Game Player have the chance to experience true ownership of in-game assets, meaning they can buy, sell, and trade virtual items with actual value. They can also participate in use-to-earn models, where their skills and achievements in the game can be monetized, allowing them to earn real income while playing. Additionally, Player can enjoy cross-platform experiences and seamless asset interoperability, enabling them to transfer their progress and assets across different games and platforms.
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Challenges and obstacles gaming users stepping into web3?
Web3.0 signifies a shift towards decentralization, but transitioning billions of users from Web2.0 to Web3.0 poses challenges. The higher entry barrier in user experience hampers adoption, with complex aspects like mnemonic phrases, wallets, and gas fees complicating the transition. The intricate nature of Web3.0 experiences presents a learning curve, deterring widespread engagement. Users find mnemonic phrases overwhelming and struggle with managing gas fees and understanding blockchain transactions. These challenges hinder adoption and user engagement in Web3.0 gaming, impeding its growth.
Web3.0 projects incorporate unique token incentives, requiring thorough testing and iterative verification. This ensures protocols avoid Ponzi schemes or death spirals. Token economies need rigorous evaluation to sustain their viability and prevent exploitation. The fragility of these economies necessitates ongoing scrutiny and safeguards against malicious actors.
In summary, transitioning to Web3.0 poses challenges due to the higher entry barrier and complex experiences for users. Overcoming these challenges is crucial to driving adoption and engagement in Web3.0 gaming. Additionally, careful testing and verification of token incentives are necessary to maintain the integrity and sustainability of Web3.0 projects.
How will XWORLD address and minimize obstacles?
XWORLD aims to address and minimize obstacles in the Web3.0 gaming space by revolutionizing user interaction with digital content. Instead of being passive consumers, users become active participants in the ecosystem. XWORLD values users’ attention and time, converting them into income through a fair reward system. This empowers users with greater control over their internet experience and the ability to shape the content they engage with. By incentivizing user engagement and providing fair rewards, XWORLD encourages users to actively contribute to the platform.
In the XWORLD ecosystem, developers play a vital role in providing captivating digital content that engages users. They earn through the “Proof of Contribution” protocol, which measures user satisfaction with their content. This incentivizes developers to create high-quality content that attracts more users. Additionally, the protocol provides developers with precise targeting capabilities, categorizing users based on their content consumption. This enables developers to customize their content, optimize strategies, and innovate based on user feedback. By empowering developers and facilitating targeted content creation, XWORLD enhances the overall user experience and fosters a thriving community.
In conclusion, “Proof of Contribution” mechanism creates an environment where users are rewarded for their attention and engagement with digital content. This incentivizes active user participation and offers fair rewards for users’ time and attention. By leveraging this innovative approach, XWORLD provides opportunities for both gaming users and game developers in the Web3.0 era, fostering a dynamic ecosystem where users can actively engage, contribute, and earn income.
To summarize, by analyzing and understanding the emerging opportunities and challenges for gaming users in the Web3 era, we can pave the way for a more inclusive, immersive, and rewarding gaming landscape. XWORLD is poised to tackle these challenges and leverage emerging opportunities. With platforms like XWORLD leading the charge, the transition from Web2.0 to Web3.0 gaming can become a seamless and empowering experience for billions of users worldwide.
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