Today, a new token standard was created that took the trading world by storm. There was so much trading on two tokens, FERC and FAIR, that they were the two most traded pools on Uniswap, after USDC and USDT.
Top Uniswap Pools by Volume (24 hours)
USDC / WETH
WETH / USDT
FAIR / ETH
FERC / ETH
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FERC20
This new standard is called Fair ERC20, inspired by the simplicity of the Ordinals protocol. Because the Ordinals protocol is so bare-bones, it restricts the issuer’s ability to program the token too much — this creates many advantages that make BRC 20 fairer than ERC 20. The creator of the project argues that BRC 20 is fairer for these reasons:
Minimalistic design restricts the issuer’s ability to program, reducing many security risks
Issuers and project teams cannot reserve a portion of free or cheap tokens for themselves. (No pre-mine)
Bitcoin's UTXO mechanism and low performance prevents many smart contract bots from operating on the network
Fair ERC-20 is BRC 20 on Ethereum, bringing the spirit of fair launch to the Ethereum network, but with the advantages of Ethereum, such as ease of access through common wallets like MetaMask, and compatibility with the Ethereum DeFi ecosystem.
This new standard was launched today. Now, anyone can mint or deploy FERC-20 tokens on the project’s website.
FERC was the first fERC-20 token ever deployed, fueling speculation that “FERC is ORDI on ERC20”. It has a max supply of 10 million, which has been completely minted. Here is the Uniswap pool for the token.
The first fERC-20 tokens minted
It’s also interesting to participate in the new standard, by deploying your own token or minting tokens. You can deploy your own fERC-20 token, all you need to do is set a few simple parameters:
You can also mint any token still in progress, by inputing the Ticker:
The creator of the project describes it as an experiment. It’s been only one day, and it’s definitely off to an interesting start.
Relevant links
Project website: https://www.erc20.cash/
Blog post (Chinese): https://mirror.xyz/jackygu.eth/l6Z0PIFnzpKJkzhkOanNGaqUZfJNOYlvck3Lq5ZihVU
Discord: https://discord.gg/ggDAAu6zKe