In April, the crypto industry experienced the long-anticipated Bitcoin halving at block №840,000 (mined on April 20). Both Bitcoin and altcoins rallied ahead of it and entered a continued correction afterwards. Such events are truly impactful for the industry, with market participants competing for their spotlight and community’s attention. IERC-20 Protocol has been no stranger to big news and massive development work, either. Read this digest of major ecosystem news for April 2024 that is worth the community’s attention. TL;DR: Distributed Indexer developed, co-branded initiatives, networking in Hong Kong, a flood in Dubai, fees in $ethi, and a new $ethpi listing. Dive in!
Intro
IERC-20 Protocol is the pioneering open trading market within the Ethereum inscription ecosystem. It serves as an Ethereum scalability solution that enhances compatibility between inscription protocol services. It facilitates seamless buying and selling of a wide array of inscriptions based on IERC-20, ensuring a user-friendly and accessible experience for all.
Major Events
On April 1, Glypher announced a partnership with IERC-20 Protocol. Glypher is a multichain inscription sniping platform. The partners are working together to build a robust ecosystem for EVM inscription, aiming to create a seamless and efficient infrastructure.
On April 1, IERC-20’s partner BRC-20 inscription protocol AILayer announced that its AINN Layer2 Mainnet went live. AILayer is an innovative Bitcoin Layer 2 solution crafted with a focus on AI-driven modular construction.
The AINN Layer2 Mainnet reached a TVL of $600M in just one day! This is a new record among Layer 2 networks. The key network metrics can be found here. Read about a 3-month-long community staking event by AINN Layer2 and IERC-20 below.
On April 5, IERC-20 Protocol’s leading inscription tick $ethpi (ethereum power inscription) was listed on LBank. $ethpi is the first PoW&DPoS project mined on the IERC protocol, dedicated to playing a crucial role in distributed indexing. LBank is a top cryptocurrency trading platform with NFA, MSB, and Canada MSB licenses established in Hong Kong in 2015. It provides global users with secure, professional, and convenient products and services, including cryptocurrency trading, derivatives, staking, NFT, and LBK Labs investment. Trade $ethpi/USDT on LBank here.
This listing is of top importance for $ethpi, the driver asset of the protocol’s Distributed Indexer. It is a standardized solution that utilizes a beacon index node and multiple verification index nodes to create a trust mechanism. This enhances a sense of reliability in the inscription system, as every transaction and operation is thoroughly verified for complete accuracy and security by multiple verification nodes.
On the listing day, $ethpi was the daily top gainer on LBank.
On April 7, IERC-20 CEO Serj met the protocol’s partners and crypto card providers Bit.Store at their booth at Hong Kong Web3 Festival.
On April 18, a major feature upgrade went live on IERC-20 Protocol. It added the popular inscription tick $ethi as a means to pay fees on IERC-20 besides $ETH. Users can now pay $ethi to list and buy Blue-V and Gold-V inscriptions.
With this upgrade, users who list an order can choose whether they accept $ethi. For a limited period, no service fee was charged from those who accepted $ethi. The IERC-20 inscriptions marketplace is available here.
At the end of April, IERC-20 CEO Serj revealed that development of the protocol’s distributed indexer is almost finished and that beta testing is about to start.
AMAs
On April 10, IERC-20 representatives joined the tea party AMA “Talking about the Future of Inscription Giants” organized by Glypher.
On April 17, AINN Layer 2 and IERC-20 held a joint AMA “Revolutionize Inscriptions Staking”.
On April 18, the IERC-20 Community Ambassador Naz joined the DeThings AMA “Next Big Thing — BTC Halving” together with representatives of DDO Chain, FomoStudios, BiHelix, Bitlayer, and Futurism.
On April 19, the IERC-20 Community Ambassador Naz joined the AMA “AINN Ecology Empowerment: Explore the Innovative Potential of Compos Protocol and AINN RuneStore”.
On April 26, the IERC-20 Community Ambassador Naz co-hosted the X Space “High Probability of Ethereum ETF Rejection: What New Narratives Can We Look Forward To?” with independent web3 researchers and representatives of DG Capital, 1783DAO, NFT China Ltd, Dboost, and BroadChain as guest speakers.
Community
The IERC-20 team visited Hong Kong Web3 Festival on April 6–9, 2024. They connected with many like-minded people and met many IERC fans and supporters.
IERC-20 community members in Dubai who were not afraid of the seems to be once-in-a-lifetime rainstorm and flooding were able to catch the protocol’s CEO Serj at TOKEN2049 Dubai on April 18–19, 2024. There is rain in Dubai, after all!
According to Serj, currently, the most discussed topics in the industry are Runes (the Bitcoin inscription protocol that launched at the halving block and paid six figures USD in fees to enter the first post-halving block), Ordinals (that picked up the Runes wave), Solana memecoins (wonder , Bitcoin Halving, AI, Liquid Staking and Restaking, Bitcoin L2s, and, of course, Dubai flooding.
From April 16 to July 1, 2024, a staking event of IERC-20 Protocol ecosystem inscriptions for AINN Layer 2’s points is ongoing. Participation rewards include AINN Layer 2 points and IERC-20 DPoS points. Assets available for staking are $ethi, $ethpi, $ierc-m4, and $Sparkle Inscription. During the staking period, participants share AINN Layer 2 points based on the ratio of their Total Value Locked (TVL) to the overall TVL of AINN Layer 2. After the event concludes, participants can exchange their points for AINN Layer 2 ecosystem inscriptions. Note: users can join staking anytime but will be able to withdraw only after the event ends. Before April 22, 2024, all four IERC-20 ecosystem inscriptions gained 2x AINN L2 points.
More information can be found on AINN Layer 2.
At the end of April, IERC-20 was selected as a featured project in the latest Donate to GG20 event on Gitcoin Grants. Gitcoin Grants empowers web3 builders to secure funding, build communities, and expand their projects. Anyone is free to donate $ETH, $USDC, or $ARB to IERC-20 on the Arbitrum network from April 23 to May 7, 2024. Whether you contribute by spreading the word or donating directly, your support is greatly appreciated. To show support, visit the Gitcoin website.
IERC-20 Protocol has a lot of untapped development potential. Serj stated that IERC-20 can implement restaking, NFTs, and a launchpad. Practically anything is possible in the protocol’s ecosystem, while the cost for that is almost nothing. If you are an avid inscription supporter and have quality ideas on what new demand points IERC-20 is able to meet, IERC-20 is always welcome to hear from the community. You are welcome to reach out to the protocol on social media.
Outro
IERC Protocol has the most exciting times ahead. By using 21,000 gas limit and the idle calldata space, it uncovers the potential of Ethereum to the most and brings back the long-forgotten low-cost smart contract transactions. It happens right on the world’s most popular smart-contract blockchain without additional networks or workarounds. IERC Protocol proves that effective scalability can be achieved right on Ethereum L1. Its Distributed Indexer is coming.
More info about IERC-20
Website: www.ierc20.com
X (Twitter): https://twitter.com/EthinscXYZ
Telegram: https://t.me/IERC20OFFICIAL
Whitepaper: https://docs.ierc20.com