✨Features
Brief
2- Ferc721 protocol and bridge between NFT-FT
5- Social wallet for newbility
6- Smart contract, programmable and fully on-chain
7- Widely support by Ethereum ecosystem services
8- Ownerless, trustless and maintainless
Fairmint freely
Building upon the features inherited from Ferc1.0, Cirth.meme introduces further enhancements to the casting system. In addition to fixing the freezing time at 10 minutes, removing the bypassing freezing tip, and implementing more effective measures to prevent scripting, Cirth.meme takes another significant step by eliminating the option to set casting fees, making free casting the sole choice.
By removing the ability to set casting fees, Cirth.meme aims to ensure that every user is treated equally during the casting process, regardless of their financial capabilities. This improvement eliminates disparities and injustices arising from fee differentials, granting equal rights and opportunities for all individuals to participate in casting activities.
With free casting as the only available option, Cirth.meme provides a fair and level playing field for all users. The absence of fee differentials means that everyone can engage in casting on equal terms, without anyone gaining an unfair advantage through higher payments. This drive for fairness aims to establish a more inclusive and open casting ecosystem, encouraging greater participation and enabling the community to collectively share in the opportunities and benefits of casting.
In summary, Cirth.meme fixes freezing time, removing bypassing freezing tips, implementing more effective anti-scripting measures, and eliminating the option to set casting fees. These improvements further strengthen the fairness and inclusivity of the casting system. They ensure that every user can participate in casting activities on equal and fair terms, contributing to the overall development and prosperity of the community.
Ferc721 protocol and bridge between NFT-FT
Ferc721 is a novel protocol that builds upon the Ethereum ERC721 and aims to address the fairmint of Non-Fungible Tokens (NFTs) and their conversion with Fungible Tokens (FTs). The protocol allows for the seamless transition between NFTs and FTs, offering increased flexibility and utility for token holders.
The primary objective of Ferc721 is to ensure the fairmint of NFTs. By leveraging the ERC721 standard, which provides a unique identifier for each token, Ferc721 establishes a transparent and decentralized framework for the creation of NFTs. This ensures that each NFT is distinct and cannot be replicated or duplicated, providing authenticity and uniqueness to the digital assets.
Furthermore, Ferc721 enables the conversion of NFTs into FTs. Once the casting of an NFT is completed, the protocol allows for the conversion of a predefined quantity of NFTs into Ferc20-compliant FTs. This conversion process is based on predetermined rules and parameters set within the protocol, ensuring fairness and consistency in the conversion process. This feature provides additional liquidity and accessibility to NFT holders, as they can choose to convert their NFTs into FTs based on their specific needs or market conditions.
Conversely, holders of the corresponding FT have the ability to convert them back into NFTs at any time. This bidirectional conversion capability allows for seamless interchangeability between NFTs and FTs, granting token holders the freedom to switch between the two asset types as desired. Whether it is to engage in the vibrant NFT ecosystem or utilize the fungibility and tradability of FTs, token holders have the flexibility to adapt to their preferences and market dynamics.
By introducing the Ferc721 protocol, the blockchain ecosystem embraces a more comprehensive and inclusive approach to tokenization. The protocol ensures the fair creation of NFTs while providing a bridge for conversion between NFTs and FTs. This integration of NFTs and FTs offers enhanced opportunities for both creators and users, expanding the utility and versatility of digital assets within the decentralized landscape.
Royalty for deployer
The Ferc721 protocol implement ERC2981 to supports Royalties, which enables the deployer of the tokens to receive a 2% transaction fee of trade amount. This royalty mechanism serves as an effective incentive for deployers to create and maintain their deployments within the Cirth ecosystem.
By implementing the royalty functionality, the Ferc721 protocol acknowledges the value and effort put in by deployers during the initial creation and ongoing operation of token deployments. Deployers play a crucial role in curating and bringing unique digital assets to the marketplace, and the royalty feature ensures they are appropriately rewarded for their contributions.
Whenever a token within the Ferc721 ecosystem is sold, a portion of the transaction value, specifically 2%, is automatically directed to the deployer's account as a royalty. This transaction fee is deducted from the total trade amount, and the remaining amount is transferred to the seller. The royalty collection occurs seamlessly and transparently, without the need for manual intervention or additional steps by the deployer.
The royalty mechanism serves multiple purposes:
Firstly, it incentivizes deployers to create and deploy high-quality and desirable tokens on the Cirth platform. Knowing that they will receive ongoing compensation for each subsequent sale, deployers are motivated to invest their time, resources, and creativity into developing valuable NFTs.
Secondly, the royalty feature supports the maintenance and continuous operation of deployed assets. The transaction fees collected as royalties can be utilized by deployers to cover operational costs, invest in further development, or simply serve as a reward for their ongoing commitment to the Cirth ecosystem. This financial support helps ensure the longevity and sustainability of the deployed assets.
Furthermore, the royalty mechanism aligns the interests of the deployers with the broader Cirth community. As the deployers receive royalties from each sale, they have a vested interest in promoting and marketing their token deployments. This collaboration between deployers and the community fosters an environment of mutual support, where the success of individual deployments contributes to the overall growth and prosperity of the Cirth ecosystem.
Lower gas fee
A crucial advantage of Brc-20 Inscription is the significant reduction in transaction fees.
Cirth has implemented Clone Factory that significantly reduce the gas fees of deployment and minting. This reduction in gas fees brings the benefits to users and enhances the overall efficiency of the platform.
Lower gas fees mean that users can deploy their tokens or mint new ones without incurring exorbitant costs. This affordability encourages broader participation and adoption of the platform, attracting more users and fostering a vibrant ecosystem. This optimization results in faster token deployment and minting times, allowing users to create and start utilizing their tokens more efficiently.
(Ethereum network, gas price 20Gwei, and eth price is $2200. Bitcoint network, gas price 80sats/vBytes, and bitcoin price is $42000.)
Social wallet for newbility
In addition to supporting blockchain wallets such as Metamask or WalletConnect etc, Cirth.meme also offers social login, allowing for easy one-click account creation and login on web pages, Twitter, Facebook, Email, Wechat and Google applications etc. This feature eliminates the need to navigate away from existing apps or go through complex processes to create a wallet.
By integrating social login functionality, Cirth.meme simplifies the user onboarding experience and reduces friction for new users. Instead of requiring users to go through the traditional process of setting up a separate wallet, they can simply log in with their existing social media accounts. This streamlines the account creation process and eliminates the need for users to remember additional login credentials.
Furthermore, social login offers a layer of familiarity and trust for users. Many individuals are already accustomed to using social media accounts for various online services. By leveraging existing social media logins, Cirth.meme leverages the trust and familiarity associated with these platforms, providing users with a sense of security and convenience.
Moreover, social login reduces the complexity and learning curve associated with creating and managing a separate wallet. This is especially beneficial for users who are new to blockchain and may find the process of setting up a wallet daunting.
Smart contract, programmable and fully on-chain
Compared to off-chain ledger(Such as Brc-20 etc), Cirth implements EVM's smart contracts to keep the ledger fully stored on the blockchain. And Ferc721 NFT is fully on-chain, we don't use servers or IPFS to save the data, all data is stored in the smart contract.
This approach offers several advantages.
Firstly, on-chain storage ensures transparency and immutability of the ledger. With the complete ledger stored on the blockchain, anyone can view and verify transaction records, ensuring traceability and fairness. This transparency helps eliminate fraud and improper behavior, enhancing trust among participants.
Secondly, on-chain storage provides reliable data backups and redundancy. As the ledger is stored on multiple nodes and protected by encryption and distributed consensus mechanisms, the ledger data remains accessible even if some nodes fail or come under attack. This redundancy ensures data security and reliability.
Furthermore, on-chain storage eliminates centralized risks. Traditional off-chain ledger systems often rely on centralized servers or databases to store ledger data, making them vulnerable to attacks and tampering. In contrast, Cirth's on-chain storage eliminates single points of failure and centralized control risks through a distributed blockchain network, making the ledger data more secure and trustworthy.
Moreover, on-chain storage facilitates easy access and sharing of ledger data. Participants can access and retrieve ledger data easily through the blockchain network without relying on intermediaries or third-party institutions. This decentralized data access enhances efficiency and promotes collaboration and innovation.
Lastly, on-chain storage provides the foundation for smart contract execution. Smart contracts can directly access and manipulate the ledger data stored on-chain, enabling automated business logic and conditional execution. This hands-off execution of smart contracts enhances security and reliability while improving efficiency and scalability.
Cirth's use of smart contracts to keep the ledger fully stored on-chain brings advantages such as transparency, immutable, security, reliability, and decentralization. This approach provides a solid foundation for the development and innovation within the Cirth ecosystem.
Widely support by Ethereum ecosystem services
The utilization of the Ferc721 and Ferc20 protocols in Cirth.meme leverages the existing Ethereum ecosystem and its extensive support from various third-party services. By building upon the ERC721 and ERC20 standards, Cirth.meme gains compatibility with a wide range of established platforms and services, enhancing its functionality and expanding the opportunities for token holders.
One notable area where Cirth.meme benefits from its integration with the Ferc721 and Ferc20 protocols is the NFT marketplace. Platforms such as Opensea, Flur, Rarible, and others, which serve as popular NFT trading markets, can seamlessly support Ferc-Protocol-Based tokens. These marketplaces provide a vibrant environment for buying, selling, and trading NFTs, enabling Cirth token holders to showcase and monetize their unique digital assets.
Additionally, Cirth.meme can leverage decentralized exchanges (DEXes) like Uniswap, benefiting from their liquidity pools and trading infrastructure. By conforming to the Ferc20 protocol, Cirth tokens can be seamlessly integrated into these DEXes, allowing for efficient and decentralized trading. This opens up opportunities for Cirth token holders to engage in peer-to-peer trading, access deep liquidity, and participate in the broader Decentralized Finance (DeFi) ecosystem.
Moreover, Cirth.meme can take advantage of various mature DeFi protocols and Decentralized Applications (DApps) within the Ethereum ecosystem. These include Lending and Borrowing platforms, Yield Farming protocols, Decentralized Lending Pools, and more. By integrating with these services, Cirth token holders can unlock additional utility for their assets, such as earning interest, participating in governance, or collateralizing their tokens for loans.
The compatibility with established third-party services, NFT marketplaces, DEXes, and DeFi protocols greatly expands the possibilities and use cases for Cirth tokens. It enables seamless interoperability within the Ethereum ecosystem, harnessing the power of a large and diverse community of developers, traders, and users. This integration enhances liquidity, accessibility, and overall adoption for Cirth, positioning it as a versatile and valuable asset within the Ethereum blockchain and it's Layer2 blockchains.
Ownerless, trustless and maintainless
Adhering to the principles of ownerless, trustless, and maintainless, Cirth.meme introduces a casting system that is fully decentralized. The aim is to ensure that the casting process is not reliant on any individual or entity's control, eliminate the need for mutual trust among users, and remove the requirements for operation and maintenance, thereby guaranteeing the system's continuous operation and stability.
The key component of Cirth.meme is its serverless architecture. Unlike traditional centralized applications that rely on centralized servers for data processing and storage, Cirth.meme eliminates this dependency entirely. Instead, the casting system utilizes blockchain technology to distribute data across multiple nodes on the chain. This means that there is no single server that can be attacked or compromised, resulting in a higher level of resilience against attacks and failures.
Another important feature of Cirth.meme is its ownerless contracts. Contracts are smart contract codes executed on the blockchain, defining the rules and conditions of the casting process. In Cirth.meme, these contracts are ownerless, meaning that no specific entity controls their execution or modifications. This ensures that all casting operations are carried out based on predetermined rules and algorithms, without the ability for any individual to alter the contract's content, enhancing the fairness and trustworthiness of the system.
The no-operation and maintainless nature of Cirth.meme further emphasizes its decentralized and autonomous nature. Since the system's rules and operations are automatically executed by smart contracts, there is no central operating organization or entity involved. This means that the system can operate without human intervention, reducing the risks of manipulation and abuse.
Additionally, Cirth.meme adopts on-chain data storage, ensuring transparency and immutability of data. All casting data is recorded on the blockchain, and anyone can view and verify this data, enhancing the transparency and trustworthiness of the system. Due to the immutability of the data, any attempts to tamper with the data will be immediately identified and rejected.
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