On May 31st, erc20.cash was launched as an experimental result of implementing the fair spirit of BRC20 through smart contracts on Ethereum (and other EVM chains). Project founder jackygu.eth wrote an introduction to the project and shared a usage tutorial. Always DYOR!
FERC20 is based on the ERC20 standard protocol and has advantages that BRC20 does not have, including but not limited to: 1) can be easily transferred within popular wallets without the need to download new wallet software; 2) can be used in Ethereum’s powerful DEFI ecosystem, including DEX, lending, multi-signature, etc.; 3) FERC20 tokens have no owner permissions, meaning they are ownerless tokens; 4) the Tick character count can be upgraded; 5) there is no pre-mining, the token total starts from zero and reaches the hard cap; 6) highly decentralized, the system architecture has no server, and all functions including retrieval and classification are completed within the smart contract; 7) it is not a BRC20 token issuance platform, users interact directly with the smart contract, without intermediaries, ensuring security.
The key challenge of implementing BRC20 on Ethereum is how to effectively resist witching and prevent contract scripts, to maintain fairness for participants. To address this, we attempted to add three sets of attributes to the ERC20 standard contract: freeze period, holding conditions, and pre-sale/crowdfunding. Based on the different combinations of these three sets of attributes, eight types of FERC20 can be generated, which can meet almost all token economic model needs.
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Reference: https://mirror.xyz/jackygu.eth/l6Z0PIFnzpKJkzhkOanNGaqUZfJNOYlvck3Lq5ZihVU
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