13 out 2024 ano - MINTS

Descrição:

MINTS is the first token distributed on Counterparty using the 'Fair Minting' protocol functionality released in v11.0.0. This process invited users to 'mint' tokens in a decentralized manner where the creator can specifiy a hard token issuance cap (max mint), an optional 'pre-mint' supply amount, a pre-determined amount of token recieved per mint and even more protocol level features like start blocks, end blocks, commissions, soft cap deadlines and more. The process of minting is 'free' minus the regular bitcoin transaction fee that is already prevalent in all Counterparty transactions.

This minting theory in relation to Counterparty was previously introduced by Joe Looney with what he coined as the 'XCP-20 Fair Mint model' in 2023. Those earlier mints included tokens like FLOCK, FLOON, SEAGULLS, JPMCHASE and others, but there is quite a technical difference between XCP-20 mints and the Fairmints released in v11.0.0. The XCP-20 model was based on creating a dispenser on a burn address with 100% of the token's supply in the burn address dispenser. This meant that all BTC sent to 'claim' or 'mint' these tokens was burned indefinetely. This 2023 experiment seemed to be heavily inspired by Counterparty's 'proof-of-burn' model and 3.3154 BTC was burned for various XCP-20 assets.

In the case of the newer protocol level model, MINTS was the first fairmint under the v11.0.0 protocol upgrade with 100 million tokens total minted into existence and 1000 tokens per minting transaction. The MINTS description was updated about a month after minting to include a JSON hosted by xcp.io that pointed an AI stylized image of Roman ruins being explored by 18th century humans.

Other very interesting 'Fairmint firsts' like PEPEEMBRYO.FAIRSTAMP, NANOFAIR, PEPEFAIR, A10015080875092566828, FAIRSOUND and many others would be the first tokens to use a subasset to mint, add an image to a fairmint, the first pepe mint, the first numeric asset mint and even the first audio attached mints. Many first in Fairmints happened quite fast in relation to the bigger Counterparty historical picture and even company's like EverdreamSoft used the function for new Spells of Genesis related memorabilia.

This functionality was eventually supported by existing wallets like Freewallet and Horizon, but MINTS in particular was very much restricted to only node operators at the time minting was live. Soon after this protocol upgrade, entire marketplaces such as firemints.xyz and fairmints.io started offering the functionality and in-depth explorers for users to interact with the new feature.

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