The INCEPT/WETH trading pair on Uniswap recently experienced a strong surge, with the price of INCEPT tokens fluctuating dramatically in a short period and trading volume skyrocketing. This not only reflects renewed market interest in this emerging project but also highlights the innovative ERC-40 standard that has captured the attention of many investors.
INCEPT’s Protocol Mechanism
INCEPT is the first token built on ERC-40, an experimental dual-root token standard that combines the concept of multidimensional assets. INCEPT merges the functionalities of ERC-20 and ERC-6551, allowing it to serve as both a tradable asset and a wallet capable of storing other assets (referred to as liquidity token-bound accounts). In other words, each $INCEPT token is not just a token but can also hold other tokens or assets.
Since its launch this morning, INCEPT has attracted significant interest from community members. The ERC-6551 standard adds smart contract accounts to NFTs, enabling them to hold other assets. ERC-40 extends this functionality to tokens, meaning that each token can not only be a token but also serve as a “pocket asset” for storing various assets, effectively managing a range of resources.
ERC-6551 token accounts hold the original ERC-20 token that created them, forming a loop of ownership that adds complexity and uniqueness to the tokens. The ERC-40 standard utilizes the root structure of ERC-6551 token accounts, with its included ERC-721 NFT components operating as a “double-ended queue” (Deque). This means that assets can be manipulated in a “first-in, first-out” (FIFO) or “last-in, first-out” (LIFO) manner as needed.
The emergence of Incept illustrates that innovation knows no bounds. Although its “multidimensional token” concept is still in its infancy, the direction it explores is worth attention. For players eager to try new things, the possibilities behind this new mechanism are more enticing than short-term price fluctuations.
Existing Tokens & Interaction Experience
$INCEPT: The INCEPT token was launched at 2 AM on June 26, reaching a peak increase of about 20 times by noon. Although the price has seen some correction, it remains highly active, with a 24-hour trading volume of 13.9 million and nearly 7,000 transactions, keeping market activity vibrant.
Currently, INCEPT has not updated any other interaction experiences, we will continue to follow the project’s progress.
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