IERC Protocol grows bigger every hour. In order to streamline the process of getting updates in the community, IERC hereby kicks off News Updates. For the time being, these updates are bi-weekly, but going further the frequency can be tweaked according to the project progress.

Intro

IERC 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. The IERC Protocol facilitates the seamless buying and selling of a wide array of inscriptions based on the IERC protocol, ensuring a user-friendly and accessible experience for all.

Major Events

IERC has been brewing the Grant Program, and January 14, 2024, marked its official launch as IERC welcomed Enscriptions Pad as the first recipient of the Program’s funding and also a new partner of the protocol.

Enscriptions Pad is the first Ethereum inscription launcher built on IERC-20 Protocol. It will gradually introduce a full-chain IDO and an inscription market with its own index. Enscriptions aims to bridge the gap between innovative projects struggling to obtain funding and investors eager to participate in emerging enterprises. Its mission is to identify and nurture high-quality, community-driven projects, thereby promoting the development of the EVM-based Inscription ecosystem and supporting long-term sustainability. The project roadmap is available on the official website of Enscriptions Pad.

This is an awesome addition to the IERC inscriptions ecosystem. Enscriptions Pad will receive a total grant of 20,000 $ethi. The initial tranche of 5,000 $ethi has been allocated. IERC will keep the community updated on further progress.

Enscriptions Pad will airdrop 10% of its native inscriptions to the IERC ecosystem participants. Of these inscriptions, 3% was airdropped after the first IDO on Enscriptions Pad finished, while the remaining 7% will be airdropped alongside the first project launch on the Launchpad. As IERC Protocol seeks co-builders, prospective IERC Grant Program participants can contact IERC on X to get the application process details.

On Monday, Jan 15, IERC Protocol CEO Serj joined a live video AMA hosted by the educational and promotional community CRYPTO PANDA on Binance Live. At the AMA, Serj provided a comprehensive overview of how IERC achieves effective scalability with low costs and builds a fairer inscription trading market. He also introduced the recently launched PoW & DPoS mining. This AMA was Serj’s live debut. It attracted over 15,000 online viewers. The recording is available on Binance Live.

On Jan 12, a new inscription tick joined the IERC ecosystem: $ethpi (ETH π). It is a mineable inscription with a total supply of 21 billion and a limit per mint of 1,000 inscriptions. In under one week of operation, it scored over 9,000 holders. The mining difficulty also soared from the minimum of m4 at the launch to m9+. The highest possible $ethpi mining difficulty is m20. As of the writing time, 0.19% of the total supply has been mined.

According to the IERC CEO, in order to preserve the rarity of $ethpi, the protocol will initiate a governance proposal aimed at adjusting the total supply. Once the predefined supply cap is reached, IERC reserves the right to prematurely destroy all unmined inscriptions, effectively ending the mining cycle ahead of schedule. The final decision will be determined by the community through a governance vote, TBA later. This is a great opportunity for the community to implement joint project governance and forge the development path for $ethpi.

Meanwhile, $ethi, the earliest and most popular inscription tick on IERC, breaks its own records. Recently, the number of active $ethi DPoS stakers reached a new all-time high of 2,375 and currently sits at 2,100+. Besides the regular $ethi Fixed Stake Pool offering a 20x multiplier, a new Incentives Fixed Stake Pool with a 22x multiplier became available. It expires on February 12 and has USD 1.5+ million worth of staked assets in it. New ticks became available in Flexible Stake Pools in IERC Staking, too: Sparkle Inscription and ierc-m4. Sparkle Inscription staking offered an impressive APR of 374%. The current TVL of IERC Protocol is USD 15 million. IERC is currently developing the Staking Dashboard that will boost the transparency of staking for users.

January 18 was a day packed with news updates from IERC Protocol. First off, at block number 19033750, two major upgrades went live on IERC:

● Minimum DPoS point consumption for all DPoS miners per mine became 1,000.

● PoW difficulty in the reward program was decreased from 10x² to 5x², narrowing the gap between high and low computational power, and offering more opportunities for low-power PoW miners.

Also, following a blockchain snapshot, the new partner of IERC PATH Protocol airdropped $PATHI to IERC $ETHI inscription holders. The first part was 25% of the total airdrop pool. Later on, after the launch of PATH Protocol’s CrossChain feature, $PATX inscription holders will get an airdrop, too.

Finally, the first IERC Grant Program participant Enscriptions Pad had a public mint. The inscription distribution completed. Participants can trade their $ENSC inscriptions after logging in to IERC Market.

On Jan 19, IERC Ambassador Program was launched. IERC Protocol seeks like-minded individuals and organizations willing to share resources and talents to collaborate, co-build and leverage each other’s strengths. Prospective participants can see the requirements and fill out the form to join.

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.

More info about IERC20

Website: www.ierc20.com

X (Twitter): https://twitter.com/EthinscXYZ

Telegram: https://t.me/IERC20OFFICIAL

Whitepaper: https://docs.ierc20.com