Exciting Facet Update!
The Facet Virtual Machine is feature-complete, and we are thrilled to announce that it launches on mainnet on block 18684900!
In the meantime:
- We will launch a release candidate on Goerli.
- Join our $25k 🐛 BUG BASH! 🎉
- And more!
🧵👇
I just bought @okaybears #2707 on SOLANA 👀
THESIS: Ethereum is the best, but is it so good that you should never try anything else ever?
As more ppl realize "no," the value of Okay Bears will increase!
Thanks to @reginald_crypto who held my hand through this emotional process
1/ Introducing DumbSwap!
DumbSwap is a DEX built on the Ethscriptions VM using Dumb Contracts.
DumbSwap let's you swap tokens, provide liquidity, and earn yield—all without using a single Smart Contract!
This makes DumbSwap much cheaper than normal DEXes!
🔗👇
In @0xFacet's first month, FacetSwap.com had $102M in volume.
In Base's first month, Base Uniswap reached $155M.
Coinbase boasts 1000s of employees and billions of dollars
Facet has just 2 full-time employees and no VC funding
But we do have one distinct advantage…
Introducing Facet!
Facet is the new name for the decentralized low-cost computing platform that @michaelhirsch and I are building.
Previously known as the Ethscriptions Virtual Machine, it is now called the Facet Protocol or simply Facet.
Ethscriptions Update
NEXT WEEK: ESIP-1!
THEN: building our “application layer” by porting over your favorite protocols!
ERC-20
ERC-721
ENS
What else? RT + reply!
NOTE: this will be a collaborative process with the communities who are already proving out these use cases!
You can’t make this up: Etherscan finds Ethscriptions “counter-intuitive” because we rely on indexers.
I’m curious to hear Etherscan’s analysis of their own product! It’s an indexer everyone in Ethereum relies on. Is this counter-intuitive?
However, inscriptions on Ethereum are counter-intuitive
Inscriptions rely on third parties to index these transactions and apply token rules, a function that is natively handled by smart contracts
x.com/0xCygaar/statu…
Ethscriptions are a step backwards? Compared to what? To centralized L2 sequencers that can be turned off at any time?
To fairly judge Ethscriptions we must compare it to its competitors (L2s), not focus on its downsides in the abstract.
@0xCygaar says reliance on indexers is
Inscriptions also feel like taking a step backwards. The EVM was designed to support smart contract logic, inscriptions instead move all the computation off-chain.
This leads to more fragmentation and trust in indexers. There's also basically 0 composability with inscriptions.
At the request of Yuga Labs, the owner of CryptoPunks, I am taking down the Ethereum Punks website, removing all Ethereum Punks images from Ethscriptions.com, and deleting my Tweets that reference Ethereum Punks, including my Tweet introducing the Ethscriptions Protocol.
Announcement: we are open sourcing a new Ethscriptions Indexer! Check it out:
github.com/0xFacet/ethscr…
The new indexer enables anyone to reproduce the entire state of the Ethscriptions ecosystem using only an Ethereum node. Combine it with the open source Facet VM to reproduce
Announcement: @okx has integrated the Facet Protocol into their wallet! Now you can see all your Facet assets in one place!
Adding a Facet token is just like adding a traditional token, except you must enable "Facet Mode":
Now you can easily send Facet assets to your friends!
API Contest!
If this post gets 300 retweets I will release TODAY the free, uncapped, no API key Ethscriptions API!
If it doesn't, I'll still release the API, but it will require an api key and you'll need to fill out a long Google form to get one! And it will take 2 weeks!
