Layout ARC-20: The Charm of the New Token $SOPHON

TD;LR

With the gradual activity of the community, the uniqueness of ARC-20 assets at the technical level has also attracted more and more attention from inion players. Following the success of the ARC-20 token $QUARK, which is benchmarked against SATS, the new $SOPHON seems to bring a new wave to the ARC-20 community.

Compared to the somewhat meme-worthy and SATS-like $QUARK, what are the unique features of $SOPHON, and what are the noteworthy aspects of the recent ARC-20 eco?

Brief Deion of the Atomicals Protocol

The positioning of Atomicals Protocol is a more concise and flexible protocol. It is based on the UTxO model on the blockchain, and it implements the minting, transfer, and updating of digital objects.

The core technology adopted by the Atomicals protocol is Colored Coins, and it follows that each ARC-20 token is anchored to the minimum unit of Bitcoin, called ‘1 satoshi’.

From this perspective, the value of ARC-20 will not go to zero, because the ARC-20 token is used to color each satoshi, and the bitcoins are still in existence when colored. An Atomical can be seen as a mechanism that encapsulates the creation, transmission, and updating of digital objects.

Because ARC-20 is minted and transferred based on BTC’s UTXO, it is bound to each satoshi, allowing it to be split and merged (UTXO) just like BTC, and can be transferred directly through the Bitcoin network.

In addition, the Atomicals protocol proposes a new concept - Realm, aiming to disrupt traditional domain names. It can connect communities, organizations, or groups, and can be applied to various aspects such as games, social media, land, and badges, which also becomes a door for the expansion of the entire eco.

What is $SOPHON

The concept of Sophon originates from the well-known science fiction novel ‘The Three-Body Problem.’ A sophon is a miniature computer formed by folding basic particles (such as protons) through high-dimensional folding technology, and it has extremely high intelligence and computing power. Sophons can expand or contract to any dimension, which allows them to read human information, books, and computer storage at super high speeds.

In the original novel, it played an important role, and because of its unique conceptual origin and casting characteristics, SOPHON is also likely to cause unexpected traction for ARC-20 and Inion Track.

$SOPHON has a minting count of 420,000 cards, each containing 100,000 tokens (including SATs). It maintains the same mining difficulty as $QUARK, with a 6-digit difficulty. Its distinguishing feature is the requirement of locking a larger amount of Bitcoin for storage.

Each time you mine a Z token, you need to lock 100,000 satoshis worth of BTC. Assuming the current price of BTC is $40,000 per coin, you need to lock BTC worth $40 and pay additional gas fees. Considering that there are 420,000 Z tokens in total, according to the mining rules, all Z tokens mined correspond to locking 420 BTC.

Image Source: Pixabay

In general, the cost of casting SOPHON will definitely include the BTC price of 100,000 satoshis stored in it, which is based on real-time market price changes, but it will not be zero; in addition, both casting and trading require gas fees support, so trading is important when gas fees are low.

Tracing back, Genius is derived from an interesting event. In October last year, Rijndael, the developer of Bitcoin and former Chief Engineer of AWS, created a token sniper robot called Genius. The working principle of this robot is to monitor the memory pool of the blockchain. Once it detects a new BRC-20 token inion deployment, it will deploy a token with the same name but set its supply to 1, and pay higher gas fees to deploy it ahead of others.

Due to the BRC-20 protocol not allowing token names to be duplicated, this means that the originally planned new tokens will not be successfully deployed and will be blocked by the ZhiZi robot. After the first run, the ZhiZi robot effectively reduced the number of new inions, decreasing by 72% compared to the previous day.

This also caught the attention of the Ordinals Protocol maintainers, who tweeted referring to the ‘Dark Forest’ as ‘ Bitcoin Season 2”, it seems to agree with this “interception”, thinking that the Bitcoin eco also needs such a mechanism to protect Bitcoin from generating too much information.

Image source: Pixabay

At this time, @raphjaph replied, ‘We need the return of the ZhiZi’, and recently, SOPHON has appeared in the Atomicals market, naturally attracting a lot of attention.

Based on the past few days of casting SOPHON, in addition to the 100,000 Satoshi BTC that must be locked for each Zhi, the gas cost is about $5 to $7. Therefore, even if Zhi returns to zero, Ontology is still worth 0.001 BTC. This is similar to QUARK, but SOPHON is more ‘generous’ with a larger locked BTC amount.

Minting or buying SOPHON is equivalent to storing BTC in another form. It is not unreasonable for people to see the potential of $SOPHON in a long-term bullish market.

How to participate in the recent ARC-20 eco?

The earliest ARC-20 Token is $ATOM, which is also the ARC-20 Token with the highest market value at present. Its price is the highest, with less supply and holdings, and its market value exceeds $150 million.

The latest leader is $QUARK, which means the basic unit of matter - quark, similar to the smallest unit of SATS that makes up Bitcoin. There are 500,000 in total, with 20,000 coins per sheet. It has the most holding addresses because its meme attribute is considered the most likely to go viral ARC-20. From the results, it is also living up to expectations and currently has the most holding addresses for ARC-20.

The difficulty of Quark mining is 6, which is relatively easy compared to Electron and Neutron. The average cost of producing each Quark during the casting process is about $20-30, making it easier for players to participate in the primary market casting.

In the Atomicals secondary market, Quark’s price reached a high of 17 sats, approximately 0.00348 BTC, with an increase of over 400% compared to its minting cost. At the time of writing, the price has remained at 8.17 sats.

Currently, the ARC-20 eco is relatively hot in the field of NFTs. Tokens such as $ATOMI and $PHOTON, which are still under development, are also worth paying attention to. Atomicals also has a mature platform called Atomicals Market, which integrates trading and engraving functions. The supported wallets include Atomical Market Wallet, Unisat Wallet, and Wizz Wallet.

Gate Web3 wallet recently launched the Inion Market function, which includes: inion, trading BRC-20 tokens and BTC NFT, cross-platform purchase of BTC NFT, platform-wide comparison of BTC NFT, market hot list, etc. In the future, it will also support protocols such as ERC-20, DRC-20, LRC-20, ARC-20, etc. At the same time, the ‘Inion Launchpad’ function will be launched, allowing users to participate in the Inion eco with zero threshold and fairness.

Experience now: https://www.gate.io/web3/inion/brc-20

Summary

Recently, the overall cryptocurrency market has experienced a correction, with Bitcoin’s price reaching a low point. Compared to the craziest moments of the past two months, Mingwen Assets has also cooled down slightly. However, the technical highlights of the Atomicals protocol and the unique narrative as an emerging asset have brought a noticeable sense of optimism to $SOPHON.

However, it is also worth mentioning that the minting progress of SOPHON has reached 100%. Whether to trade on the secondary market still requires careful consideration.