FairERC20 (ferc) news

What Is FairERC20?

FairERC20 is a token protocol developed as a superset of the standard ERC-20 token protocol. It was created by @JackyGu and is the first token deployed via the FERC20 protocol on the Ethereum blockchain. The name "Fair ERC20" signifies its aim to provide a fairer version of the ERC20 token scheme. This initiative was inspired by the success of the BRC20 token, which was deployed on the Bitcoin chain and attracted significant attention due to its simplicity and fairness to community participants.

The FairERC20 token has several features that set it apart from traditional ERC20 tokens. It allows for easy transfers within familiar wallets, can be used within the Ethereum ecosystem, and is an ownerless token. There is no pre-mining involved; the total amount of tokens starts from zero and continues until the cap is reached.

Resources

Official Website: https://www.erc20.cash/

How Does FairERC20 Work?

The FairERC20 protocol operates by adding three sets of attributes to the base ERC20 standard contract to maintain fairness among participants. These attributes include a freezing period after a user mints for the first time, holding conditions to prevent large-scale quick minting and a presale/crowdfunding price for the token.

The protocol provides a detailed guide on deploying a new token, deploying advanced tokens, and minting FairERC20 tokens. During the freeze period, after a user mints for the first time, they can continue minting but will need to pay a tip to the platform. The first minting tip after entering the freeze period is 0.00025ETH; the second time is 0.0005ETH, the third time is 0.001ETH, etc., doubling each time.

What Is FairERC20 Token?

FERC, the native token of FairERC20, is available on various exchanges. It has a total supply of 10,000,000. FERC is a token that adheres to the principles of fairness, ensuring that all participants, including issuers and project teams, start from the same point. FERC tokens can be easily transferred within familiar wallets, utilized within Ethereum's DeFi ecosystem, and are ownerless, meaning they don't have owner permissions. There's no pre-mining involved; the total number of tokens starts from zero and continues until a set cap is reached. The minting process of FERC tokens involves certain conditions like freezing periods, position conditions, and potential presale or crowdfunding prices, all designed to maintain fairness and prevent undue advantages.

What Determines FairERC20's Price?

In the dynamic world of cryptocurrency and blockchain technology, the price of tokens, including FairERC20, is influenced by a myriad of factors. At its core, the price of FairERC20, like other cryptocurrencies, is determined by the fundamental economic principle of supply and demand. The unique attributes of FairERC20, such as the freezing period, position conditions, and presale or crowdfunding prices, play a pivotal role in shaping its demand. For instance, the freezing period, which requires users to pay a fee for minting tokens during a set timeframe, can create a scarcity, potentially driving up the token's price. Similarly, position conditions, which set holding prerequisites, can influence the rate of minting, further impacting the token's market dynamics.

External factors also play a significant role in determining FairERC20's price. Market sentiment, driven by news, regulatory changes, and broader blockchain industry trends, can sway investor behavior, leading to price fluctuations. Additionally, the overall health and adoption rate of the Ethereum DeFi ecosystem, given FairERC20's compatibility with it, can influence its market value. As with all cryptocurrencies, potential investors should conduct thorough research and consider the inherent volatility of the crypto market before making investment decisions.

For those interested in investing or trading FERC, one might wonder: Where to buy FairERC20? You can purchase FairERC20 on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.