Q1) What are the upcoming functions of DPoS points? Will there be new PoW tokens? How do you evaluate the performance of the PoW scheme over the past month, and what are the plans for optimizing the PoW+DPoS mechanism?
A: The key features to be implemented next: Distributed Index — It is a standardized solution that applies to all inscriptions. Our distributed index is a solution that utilizes a beacon index node and multiple verification index nodes to create a trust mechanism. This ensures a higher level of confidence in the inscription system as every transaction and operation of each user is thoroughly verified for complete accuracy and security by multiple verification nodes.
We’ve got a few things to focus on with the distributed index moving forward. >>> What is the function of DPoS points?
Function 1: DPoS points can be pledged to nodes for offsetting transaction fees. In the future, transactions will require fees in the market. For example, if a project becomes a node, the project can pledge DPoS points to this node, which can receive platform fees. The fees can be covered by using $ethipi. The offset fees can be categorized into three parts:
- Allocated to the platform;
- Rewards for verification nodes: points can be pledged to nodes to receive these rewards;
- Sent to the zero address for burning (The $ethpi deflation plan).
Function 2: Modularizing the PoW&DpoS mechanism. Anyone can use this mechanism to issue and mint inscriptions.
We will not issue inscriptions that use the PoW mechanism for the time being. However, any project owner can engage in issuing or mining coins using this modular mechanism. The DPoS&PoW project has been a great success with 10,000 holders. $ethpi has made remarkable strides in IERC technology evolution, DAO implementation, utility realization, and, most importantly, community consensus progress by burning nearly 427 ETH for mining costs!
Q2) The community is discussing that ethpi fee buyback will be launched next week. Is that true? What are the plans for the coming weeks?
A: Yes! It is true, but the exact launch date is uncertain. After implementing the distributed index, there will be a phase where users will have the option to pay transaction fees either ETH or replace them with $ethpi. In the upcoming weeks, our focus will be on promoting the development of the distributed index and increasing the TVL liquidity of the Ierc20. We aspire to achieve this by pushing for CEX listings, developing corresponding cross bridges, and engaging in more project collaborations.
Q3) There has been a lot of focus on the development of ethpi recently, but what about ethi? Any plans for ethi?
A: Don’t worry, $ethi will always remain the most important asset on the platform. ethpi was created specifically for the distributed index, and they each have their own distinct functions and importance. While $ethi may not be well-suited for the distributed index, $ethipi will serve as a representative asset for the distributed index. However, we utilized $ethi to generate $ethipi and attract more users to contribute to the distributed index through the mechanism of PoW&DPoS. In the future of the distributed index, both $ethi and $ethipi will play significant roles.
Q4) Many people mentioned that investment announcements will be made soon, which investment institutions are involved?
A:IERC20 is a platform and protocol type project. There are many ways for exceptional institutions and project investors to participate. We have already witnessed the participation of numerous investment institutions. Some have invested financially by acquiring significant platform assets or facilitating various business collaborations. These collaborations can involve more than just financial investments, such as purchasing our tokens, recommending high-quality partners, or promoting business development collaborations. At the same time, we anticipate a growing number of partnerships and institution teams joining us with the introduction of $ethpi. Official announcements with more details will be made at the appropriate time, and we ask for your patience until then. The names of the institutions cannot be disclosed presently.
Q5) What measures will IERC take to optimize liquidity in the near future? Will you prioritize listing ethi/ethpi on centralized exchanges or developing your own Swap? What’s the general plan?
A: In the upcoming weeks, we will take multiple measures to drive the development of distributed indexing and enhance the TVL liquidity of IERC20. We plan to implement the following key initiatives: Firstly, we will strive for CEX listing on mainstream centralized exchanges to increase the project’s visibility and liquidity. Secondly, we will develop cross-bridge technology to enable asset interoperability between different blockchain networks. Additionally, we will actively seek more project collaborations to promote ecosystem growth. Our development team will focus on the research and development of distributed indexing while continuously bringing in new partners to ensure the successful progress of the project.
Q6) IERC has many sectors, such as inscriptions protocol, decentralized indexer, Dex/ NFT market, launchpad, ugc domain, stablecoin/payment, and crosschain bridge; What is the priority order for upcoming development, and what criteria are used for prioritization?
A: We will develop and implement these modules one by one, but their order is influenced by various factors, so there is no definitive ranking. The sequence is also influenced by community expectations, the requirements of our partners, and the scheduling of our development team’s workload. The current development progress and milestone planning differ from the past. IERC has strong development capabilities and will collaborate with suitable partners to develop relevant applications at the appropriate time, which could be during industry trends or even before they emerge. Some applications will also be released simultaneously. Please stay tuned to our official announcements for the latest information.
Q7) IERC has recently collaborated with many BTC/BRC20-oriented protocols; will it expand into the Bitcoin network?
A: We do not intend to migrate IERC20 to BTC because ETH is the foundation of IERC20. However, for BRC20, we can achieve cross-chain compatibility with BTC through cross-bridge technology or asset mapping, enabling asset trading and circulation between the two platforms. We also welcome more technical and business development collaborations to explore ecosystem implementation solutions for IERC and BRC. For example, although distributed indexing is proposed and implemented by our IERC20, it may eventually be applied to all inscription protocols, addressing the trust crisis across all inscriptions. Through the promotion of this solution, we look forward to achieving overall development and trust establishment in the inscription field.
Q8) IERC often mentions setting standards for indexing, not limited to EVM. How can ordinary users understand the indexing standards? What role can Ethpi play there?
A: The indexing standard is a specification. Standardized specification means that anyone can achieve identical results in data cleansing on the blockchain as long as they follow this standard because all the data exists on the chain. $ethpi was created to achieve distributed indexing. In future distributed indexing, $ethi and $ethpi will play a crucial role, providing users with powerful indexing capabilities and data analysis abilities. Whether it’s data organization, querying, or analysis, these two tools will offer users reliable and consistent results, driving the development of distributed indexing technology.
Q9) How does IERC view the development of the inscription track, and what factors will lead to the next bull market in inscriptions?
A: IERC20 is confident in the development of the inscription track, which represents a third category of valuable assets alongside tokens and NFTs. Throughout the history of cryptography, asset types have generally remained in existence. However, they can experience peaks and valleys, so it is important to approach market fluctuations with rationality during bull and bear markets. Perhaps there is a positive correlation between bull and bear markets in the cryptocurrency industry and the inscription track, but it is also possible that they are unrelated. It is difficult to judge or assess this relationship. Nevertheless, IERC20 will make every effort to standardize inscriptions and address any concerns users may have. Additionally, according to our plans and the self-governance principles of our Governance DAO, we will steadily advance the development of the inscription track. Currently, we are seeing some initial results in this regard.
Q10) AI is expected to be the hottest track in 2024, with many AI projects rising and FDV/circulation market value soaring. Will IERC be related to AI in any way?
A: Serj is also very interested in artificial intelligence, a field he greatly admires. IERC recently collaborated with the well-known AI project under KNN3, TypoX AI. They will also incorporate IERC’s relevant products. IERC is looking forward to collaborating with AI partners and hopes to spark a collision of ideas between artificial intelligence and inscription technology!
More about IERC Protocol
Website: www.ierc20.com
X (Twitter): https://twitter.com/EthinscXYZ
Telegram: https://t.me/IERC20OFFICIAL
Whitepaper: https://docs.ierc20.com
