The IERC Protocol is growing every day. To simplify the process of getting updates within the community, IERC has launched news updates. Currently, these updates are every two weeks, but the frequency can be adjusted as the project progresses.
Introduction
IERC Protocol is a pioneer in the open trading market within the Ethereum Inscription ecosystem. It is an Ethereum scalability solution that enhances the compatibility between Inscription Protocol services. IERC Protocol facilitates seamless buying and selling of various inscriptions based on the IERC Protocol, ensuring that all users can enjoy a user-friendly and easily accessible experience.
main activities
IERC has been preparing for the Grant Program, with January 14, 2024 marking its official launch. IERC welcomes Enscriptions Pad as the first recipient of funding from the program and a new partner in the agreement.
Enscriptions Pad is the first Ethereum inscription launch platform built on the 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 that struggle to obtain funding and investors eager to participate in emerging enterprises. Its mission is to identify and cultivate high-quality, community-driven projects, thereby promoting the development of the EVM-based inscription ecosystem and supporting long-term sustainability. The project roadmap can be found on the Enscriptions Pad official website.
This is an excellent addition to the IERC Inscriptions ecosystem. Enscriptions Pad will receive a funding grant totaling $20,000 Ethi. An initial $5,000 Ethi has been allocated. The IERC will continue to provide the community with further progress information.
As a token of gratitude to IERC, Enscriptions Pad will airdrop 10% of its native inscriptions to IERC ecosystem participants. Of these, 3% was airdropped after the completion of Enscriptions Pad's first IDO, and the remaining 7% will be airdropped with the release of the first project on Launchpad. As IERC Protocol is looking for co-builders, candidates interested in participating in the IERC Grant program can contact IERC on X for details of the application process.
On Monday, January 15, 2024, IERC Protocol CEO Serj participated in a live video AMA hosted by education and promotion community CRYPTO PANDA on Binance Live. In the AMA, Serj gave a comprehensive introduction to how IERC can achieve effective scalability at low cost and build a fairer inscription trading market. He also introduced the recently launched PoW and DPoS mining. This AMA was Serj's first live appearance and attracted more than 15,000 online viewers. The recording can be watched on Binance Live.
On January 12, 2024, a new inscription token joined the IERC ecosystem: $ethpi (ETH π). It is a mineable inscription with a total supply of 21 billion and a cap of 1,000 inscriptions per minting. In less than a week of operation, it has attracted more than 9,000 holders. The mining difficulty has also risen rapidly from the initial m4 to m9+. The highest mining difficulty of $ethpi is m20. As of writing, 0.19% of the total supply has been mined.
According to the IERC CEO, in order to maintain the scarcity of $ethpi, the protocol will initiate a governance proposal aimed at adjusting the total supply. Once the predetermined supply cap is reached, IERC reserves the right to destroy all unmined tokens in advance, effectively ending the mining cycle early. The final decision will be made by the community through a governance vote, the specific time is to be determined. This is a great opportunity for the community to implement joint project governance and forge the development path of $ethpi.
Meanwhile, $ethi, the oldest and most popular inscription token on IERC, has broken its own records. Recently, the number of active $ethi DPoS miners reached a new all-time high of 2,375 and is currently at 2,100+. In addition to the 20x multiplier offered by the regular $ethi fixed staking pool, a new Incentives fixed staking pool with a 22x multiplier has been added. It expires on February 12th and contains more than $1.5 million worth of locked assets. New inscription tokens have also been launched in IERC Staking's Flexible Stake Pools: Sparkle Inscription and ierc-m4. Sparkle Inscription's staking offers an impressive 374% annualized yield. IERC Protocol currently has a total value locked (TVL) of $15 million. IERC is currently developing a staking dashboard that will provide users with more transparency into their staking.
January 18, 2024 was a rich day for IERC Protocol to release news updates. First, at block number 19033750, two major upgrades were made on IERC:
*The minimum DPoS point consumption required for each mining by all DPoS miners has been changed to 1,000.
* The PoW difficulty in the reward program has been reduced from 10x² to 5x², narrowing the gap between high and low computing power and providing more opportunities for low-computing PoW miners.
In addition, after taking a blockchain snapshot, the new partners of IERC PATH Protocol airdropped $PATHI to IERC $ETHI inscription holders. The first batch of airdrops accounted for 25% of the total airdrop pool. Subsequently, $PATX inscription holders will also receive airdrops after the cross-chain function of PATH Protocol goes online.
Finally, the first participant of the IERC Grant Program, Enscriptions Pad, has conducted a public minting. The token distribution has been completed. Participants can trade their $ENSC tokens after logging into the IERC Market.
On January 19, 2024, the IERC Ambassador Program was officially launched. The IERC Protocol seeks like-minded individuals and organizations willing to share resources and talents, collaborate and build together, and leverage each other's strengths. Interested participants can view the requirements and fill out the form to join.
Sections
IERC Protocol is about to usher in the most exciting time. By using a gas limit of 21,000 and unused calldata space, it fully realizes the potential of Ethereum and reintroduces long-forgotten low-cost smart contract transactions. All this happens on the world's most popular smart contract blockchain, without the need for additional networks or workarounds. IERC Protocol proves that effective scalability can be achieved on Ethereum L1.
About IERC20
Official website: www.ierc20.com
Twitter: https://twitter.com/EthinscXYZ
Telegram group: https://t.me/IERC20OFFICIAL
Whitepaper: https://docs.ierc20.com