According to BlockBeats news on November 5, on-chain detective ZachXBT responded on social media regarding the deployment of the ERC-20z token, stating: 'The Zora user interface currently does not inform creators that an ERC 20 token will be launched at the end of the open edition NFT minting, and I have attached a screenshot as evidence. If people continue to @ me in the posts, I will dilute this topic with more minting works that do not have an end date and may take other actions (replacing artworks on Zora with blank images). I never intended for people to speculate on the investigation; I just wanted a free digital collectible that could be permanently archived on the blockchain (e.g., see my previous Mirror article).'
Previously reported, on November 5 at 1 PM, notzachxbt posted on social media stating that the well-known on-chain detective ZachXBT deployed an ERC-20z token on the Base network on August 19, 2024. This token automatically created a liquidity pool using the Zora protocol. The token is part of ZachXBT's latest investigation report and adopts Zora's new standard. A total of about 2,800 tokens were minted, and after the minting ended, the contract automatically locked these tokens and a portion of ETH revenue as a liquidity pool. All fees belong to ZachXBT.
The token price maintained a market value below $10,000 in the two weeks following the minting, after which it began to attract the attention of traders, with most liquidity pools controlled by a DAO multi-signature wallet. Supporters of ZachXBT have formed a community around this token, creating memes, a Telegram group, and a Twitter account, and even bridging the token to the Solana network for trading.