NEAT: First Inscription Standard Launches on NEAR
NEAT, the first inscription standard of NEAR has launched. This initiative places NEAR at the forefront of the latest trend in the crypto space — inscriptions, a concept rapidly gaining traction across major blockchains.
NEAT Minting Links:
- https://near.org/inscribe.near/widget/NEAT
- https://near.social/inscribe.near/widget/NEAT
- https://mintneat.org (Batch minting script supported by Sender Wallet)
The Ordinals Revolution on Bitcoin
In early 2023, the launch of the Ordinals protocol by Casey Rodarmor brought a revolutionary change to the Bitcoin network, allowing arbitrary assets, such as NFTs, security tokens, accounts, or stablecoins to be attached to satoshis (smallest unit of BTC) using ordinal numbers as stable identifiers. This innovation has transformed the Bitcoin ecosystem, and a good example would be the emergence of Ordinal NFTs. The introduction of inscribed NFT led to a dramatic increase in trading volume. As of November 19th, 2023, more than 41 million Ordinals inscriptions have been minted, with minting fees nearing $100 million, valuing the entire inscription ecosystem at billions of dollars.
Proposed by an anonymous developer known as Domo, the BRC20 standard parallels Ethereum’s ERC20 but is tailored for the Bitcoin network to issue homogenized tokens. Within just two months of its introduction, the first BRC-20 token, $ORDI, witnessed a surge of nearly 2,000x in value. The advent of inscription has diversified Bitcoin’s ecosystem, allowing for various interpretations and applications. The recent move to use $ORDI as a governance token for BRC-20, facilitating community proposal voting and indexer staking, is expected to further boost its demand and usage.
Polygon’s PRC-20 Standard: A Case Study
On the Polygon chain, the PRC-20 token standard, inspired by the Ordinals and BRC20 protocols, has also made significant strides. According to Dune Analytics, over 100 million MATIC was spent to mint 21 million POLS tokens. Since its launch, the price of POLS has fluctuated between $0.5 to $1, a stark contrast to the initial cost of $0.001, marking a nearly 1,000 times increase in value.
NEAT Inscription on NEAR: A Game-Changer
NEAT is the first inscription standard on NEAR, leveraging NEAR’s advanced, scalable, and user-friendly blockchain infrastructure. NEAT stands out by recording inscriptions through function calls, ensuring robust scalability and decentralization. Its design, independent of smart contracts, enhances the security and trustlessness of the inscriptions. NEAT Protocol allows up to 100 million NEAT for each inscription, with an expansive total supply of 42 trillion.
Leveraging NEAR’s hallmark features — user-friendliness, minimal gas fees, and exceptional scalability — NEAT made inscription more accessible to a broader public. A single NEAR token can process up to 2,000 inscriptions at the current gas prices, making it highly cost-effective for widespread adoption. The cost for a single inscription remains impressively low, at under $0.001 under standard gas conditions.
NEAT positions NEAR as a user-friendly and energy-efficient choice for both developers and users in the inscription space, and is likely to attract a broad spectrum of users to the NEAR ecosystem, fostering both growth and innovation.
Total Supply of $NEAT: 4,200,000,000,000,000
Limit per inscription: 100,000,000 $NEAT
Getting Started with NEAT
For users ready to explore NEAT, the process is user-friendly. NEAT’s one-click mint function on the NEAR platform simplifies the inscription process. Users can easily log into near.org, search for NEAT, and mint inscriptions with a single click, seamlessly joining this new and exciting domain of the crypto world.
Mint now: https://near.org/inscribe.near/widget/NEAT
NEAT Minting Guide
1. Sign up via Sender wallet or MyNEARWallet.
2. Click on “Create Account” and follow the step-by-step instructions to register for NEAR wallet.
The first-time wallet creation steps for both MyNEARWallet and Sender Wallet are shown below: Create a Password, set up Secure Passphrase and then verify phrase.
3. Now you are all set, you can send a certain amount of $NEAR to your wallet.
4. Visit one of the following NEAT minting pages：
5. Click on “Sign In” in the upper right corner, then click on “Continue with Wallet”.
6. Click on the wallet you just registered (Sender or MyNEARWallet) to log in.
7. After you connect your wallet to the NEAT inscription page, click “Continue,” “Save Data” and complete the transfer authorization.
8. Click “Mint” for 1 inscription or the below button to mint more inscriptions at once.
9. Select “Confirm”. NOTE: The current minting time is up to 10 minutes, so please do not close the page or log out of your wallet. BE PATIENT!
10. When minting is complete, click “Indexer” at the top of the page to view the results.
⚠️ Note that all of the following cases are defined as invalid operations:
- If a user sends a bulk operation (multiple mint operations) in a single transaction, only the first mint operation will be included in the indexer.
- Minted transactions sent through the contract will not be recorded in the indexer. Only transactions signed by the user will be accepted, meta-transactions sent via relay are allowed.
- The NEAT protocol does not allow the minting of more than a limited number (100000000) of NEATs.
