“MUBI’s new return exceeded 10 times, a MUBI trader’s total assets increased from 315,000 US dollars to 2.97 million US dollars, and the highest profit from BSSB and 1CAT was more than 20 times…” It has now become one legendary wealth story after another handed down by word of mouth in the crypto community. The IDO platform is playfully dubbed by users as a “beneficiary of the inscription project”, and it is also an important place to capture the next thousandfold or tenfold inscription project.

Pursuing the inscription IDO project to get rich has now become the consensus of the crypto community.

This afternoon, BakerySwap posted on its social media that the second BRC Track Launchpad project will soon be launched and will only support participation using BAKE and 1CAT tokens. The platform token BAKE then rose above $0.45, rose more than 24% in 24 hours, and has now fallen back to $0.42.

The day before (December 21), the Ordinals inscription donation and the IDO platform Turtsat announced that they have established a strategic partnership with DWF Labs. The two sides will provide full support for Ordinals open source projects and infrastructure construction and development. At the same time, the IDO platform Bounce announced that the NFT liquidity protocol Ladder and Bitcoin ecosystem trading agreement Bitswap collaborated to launch AMMX, a “two birds and one stone” token on Bounce Launchpad.

Corresponding to this, on December 21, TurtSAT platform tokens TURT, Bounce token Auction, and BakerySwap token BAKE all rose sharply on the same day. The increase was over 20 %。其中，BAKE代币24小时涨幅超过70%, and the current price is $0.39.

Under the influence of “Inscription Becomes New Rich+ICO Platform Tokens Surging”, Inscription IDO has once again reached a climax. The crypto community is looking forward to the next inscription project launched by the IDO platform, hoping to catch up with the inscription to become rich.

So, what are the inscription IDO platforms? How can I get involved? How far can an inscription go when building a new path to wealth, and will it become a blunder after getting through the heat?

What are the “three major representatives” of the inscription IDO platform. How can they participate?

Inscription Ido faucet Bounce Brand (AUCTION)

Bounce Finance (AUCTION) was originally a decentralized auction platform on Ethereum, providing services such as token issuance and NFT auctions. It came out in November because it issued MUBI, the cross-chain bridge for the Bitcoin ecosystem, and BSSB, the stablecoin Bitstable token.

Bounce Finance upgraded its brand to Bounce Brand on December 6, integrating features such as the Bitcoin application chain Bounce Bit, the Bitcoin one-stop DeFi application portal Bounce Box, and the Bitcoin ecosystem asset auction platform Bounce Auction, and has become an important member of the Bitcoin ecosystem.

As of December 21, 3 BRC-related Bitcoin ecosystem project tokens have been successfully issued on the Bounce Brand platform.

On November 12, Bounce Brand released the Bitcoin cross-chain bridge Multibit asset Mubi on Ethereum. The unit price of IDO is 0.00047 US dollars, the number provided is 378 million units, and the target funding target is 88 ETH. The maximum limit for each wallet address is 2.5 ETH, and ETH is required for purchase. The current price of MUBI is $0.39, with a cumulative increase of about 1000 times;

On November 29, the public sale of the Bitstable project token BSSB, a Bitcoin-based cross-chain stablecoin protocol, began. Each BSSB IDO costs about 0.27 US dollars. The BSSB public sale is divided into two rounds. One round uses Bounce Brand’s native token auction is a collateral auction, with 63 million units sold in this round; in the first round, ETH was purchased at a fixed price, with a sales volume of 42 million units; BSSB is currently offering 6.8 US dollars, with a cumulative increase of about 30 times;

On December 15, the BDID token bdID of the Godid sub-platform of the DID service platform in the Bitcoin ecosystem was launched. Among them, there are three ways to participate in the BDID auction: one is to use AUCTION to purchase lottery tickets for the lottery. The lottery pool allocates a total of 100 million BDIDs, providing a total of 20,000 tickets. The auction price for each ticket is 62.5 US dollars, and each winner will receive 666,666 BDID tokens, and the winning users will be randomly selected by an on-chain smart contract; the second is to use AUCTION to obtain allocations on a pro rata basis. The total subscription amount is set at 18,750 AUCTION; Third, the stablecoin DAII is pledged and distributed in proportion. The fund pool allocates a total of 100 million BDIDs, and the total subscription amount is set at 150,000 DAII. The maximum BDID public sale price is $0.0029. Currently, the price is $0.03, and the return is more than 10 times.

On December 21, Bounce announced its participation in the previously announced “one stone, two birds” strategy token issuance project. The NFT AMM liquidity protocol Ladder Protocol and BitSwap, a Bitcoin ecosystem BRC20 cross-chain trading platform, are collaborating to launch the “Two Birds and One Stone” token AMMX on Bounce Launchpad.

Among them, Ladder Protocol is an NFT and AMM trading protocol that supports various NFT standards, including ERC-721, ERC-1155, ERC-3525, ERC-20, and BRC-20 tokens. BitSwap is the first cross-chain swap in the Bitcoin ecosystem, supporting BRC20 assets to be traded across different blockchains.

AMMX will be used as an ecosystem token for Bitswap and Ladder, and these two agreements will use 50% of their fee revenue to buy back AMMX.

Of these, a total of 2.1 billion AMMX units will be distributed, and 50% will be sold on the Bounce Launchpad platform. There will be 3 types of auctions: one is an AUCTION pledge pool, the second is a DAII pledge pool, and the third is a MUBI random lottery pool. The specific auction will begin on December 23.

Taken together, new Bounce Launchpad projects usually use methods such as lottery and pledge auctions. The conditions for participating in the former lottery are that users need to purchase lottery entry tickets in advance before they can participate in the lottery, while the latter only requires pledging a certain amount of tokens, which are distributed according to the total share of pledged tokens. The tokens commonly used in this process include Bounce platform token auction and IDO project tokens that have already been launched on the platform, such as the Bitstable stablecoin DAII, and the cross-chain bridge Multibit platform coin Mubi.

Refer to “BRcFi Applications Are Favored by Capital, How to Seize the New Frontier in the Bitcoin Ecosystem? 》

Rising star BakerySwap (BAKE)

BakerySwap was originally a trading platform integrating many functions such as AMM DEX, NFTSwap, and Launchpad on the BSC chain. On November 18, BakerySwap officially tweeted on social media that it will enter the Bitcoin ecosystem, and BakerySwap aims to be a bridge between EVM network ecosystems such as Bitcoin and Ethereum, and will support BRC asset cross-chain and issuance.

On December 8, BakerySwap officially announced that platform users will be able to participate in the upcoming BRC20 project ido using ETH, bake, and some other selected tokens in the bakery ecosystem. On the second day of the tweet (December 9), BakerySwap added that there are already 3 BRC20 projects waiting to issue tokens on LaunchPad. Among them, one is a GameFi project that can bridge Bitcoin ecosystem game assets to EVM and other networks; the other is DEX to solve the liquidity problem of inscribed assets; and the other is a Layer 2 project in the Bitcoin ecosystem.

On December 11, BakerySwap announced that the first BRC20 IDO project, BitcoinCats, will issue 1CAT tokens on December 19.

BitcoinCats (Bitcat) is a GameFi platform for the Bitcoin ecosystem. It can bridge Bitcoin assets (assets such as BRC20, Ordinals NFTs, etc.) to Ethereum, EVM, and other Layer2 networks, aiming to become the next generation gaming ecosystem across Bitcoin and EVM networks. On the BitcoCats platform, users can participate in mining and other activities with their Ordinals NFT assets as game characters.

Among them, 1CAT is a utility token in the BitcoinCats gaming ecosystem, which can be used to buy and upgrade in-game assets, including avatars, pets, equipment, farmland, etc. It will also be a ticket for players to be able to access special features.

The total circulation of 1CAT is 10 billion, of which 2 billion will be sold on the Bakery Launchpad platform. The public sale price is 1 ETH = 6.25 million pieces of 1CAT (the public sale price of each 1CAT is about 0.00035 US dollars), and each address can participate in up to 2 ETH. Users can use ETH, BAKE, and Blockchain Crypto Doggy’s token, Doggy, and BASE Chain’s Punk token participated in the upgrade.

In this 1CAT sale, Bakery Launchpad will be divided into two rounds for whitelisted addresses and non-whitelisted addresses. If users want to get the whitelist, they need to participate in BakerySwap’s marketing or sweepstakes.

On December 19, BakerySwap published an article stating that the Bitcoin chain game project BitcoinCats IDO ended, and in the end, 37,383 ETH, 73 million BAKE, and other tokens participated in the IDO, totaling 106 million US dollars in USDT. ID0 has already been oversubscribed 150 times.

The highest price of the 1CAT token hit $0.01 after opening, and the return rate was about 33 times. It has now fallen back to $0.0073, and the return rate is still 20 times higher.

Currently, Bakery Launchpad also has two BRC20 projects not listed. One is the BRC20 DEX project and the other is Layer 2 in the Bitcoin ecosystem. On December 22, BakerySwap posted on its social media that the second phase of the Launchpad project is about to be launched and will only support participation using BAKE and 1CAT tokens. Among them, BAKE has increased by more than 24% in the past 24 hours. The current price is $0.42, and the market value is 126 million US dollars.

In summary, users who want to participate in Bakery LaunchPad’s IDO need to keep up with official information, participate in whitelist marketing activities, and hold Bake and Bakery ecological tokens as shovels.

Donation and IDO platform Turtsat (TURT)

TurtSat (TURT) is a community-led Ordinals donation platform. Its mission is to become the Gitcoin of the Ordinals world and has supported the issuance of tokens for multiple Bitcoin ecosystem projects in the form of Lanchpad.

On December 21, Turtsat announced a strategic partnership with DWF Labs. The two sides will provide full support to the Ordinals open source project and ecosystem builders in the development of Ordinals infrastructure.

As of December 21, the TurtSAT platform had raised funds for 7 Bitcoin ecosystem projects by issuing tokens. The number of participants exceeded 6,000, and the financing amount was 32.749 BTC, or about 1.5 million US dollars.

TurtSAT’s listed projects include: BRC20 asset protocol chamcha token CHAX, BRC20 cross-chain bridge multibit token Mubi, ordinals aggregation platform Nxhub token NHUB and ordinals lending platform DOVA protocol token DOVA, Bitcoin ecosystem gaming platform Rabbit token RAIT, Bitcoin ecosystem gaming platform Svarga token SVGR, and Bitcoin staking platform Zooopia token Zooa.

On December 22, TurtSAT launched the Bitcoin P2P derivatives liquidity protocol Copycat DEX token BICO supported by Binance Labs.

On December 23, the TurtSAT platform will release the MultiChain FOOX project token FOOX, a multi-chain meme project based on the BRC20 standard, with a cute fox as its mascot.

The total number of FOOX tokens issued is 210 million, and the TurtSAT platform sells 5 million units (2.4% of the total amount). The IDO price is 0.005U. There are 500 places in total. Each slot can receive 10,000 FOOX tokens, and the cost of each quota is about 50U. Participating in the TurtSAT platform launch project requires a whitelist, and obtaining a whitelist requires holding EGGS tokens. The EGGS token is a new token launched by Turtsat. Users need to stake TURT to obtain it, and can be used to redeem the launch project’s whitelist, project launch voting, etc.

Compared to Bounce and BakerySwap, Turtsat has the most IDO projects launched. On average, one new project is added every day, and most of the participation methods are staking EGGS to get a new white name single.

Among them, TurtSAT’s native token, has a maximum circulation of 1 billion dollars, a provisional price of 0.078 US dollars, and a market value of 78.73 million US dollars.

BDID was questioned and the team “sold and smashed the market”, leading to the collapse of the IDO platform coin. How far can it go to find a new path to wealth?

Under the “baptism” of a large number of inscriptions posting new stories of becoming rich, “you can become rich by participating in an inscription IDO” seems to have become an unquestionable truth in the crypto community, but this is not the case. Recently, BDID, the BDID token of the DID aggregation platform godid sub-platform of the DID aggregation platform of Bounce’s third phase, plummeted, falling all the way from $0.068 to $0.01. It is suspected that the project started shipping crashing when it went online.

KOL Ho Coin tweeted that he lost 20 ETH to cut meat on BDID. Sure enough, it was only three. After the third one, he couldn’t go blind and lose money.

In response, the goDID project explained in Space that this may have been caused by a third party insertion (scientist or developer), and that the BDID token will be destroyed and repurchased in order to protect users.

However, this does not seem to have restored users’ confidence in project tokens. Even under the influence of the collapse of BDID tokens, the prices of IDO platform tokens such as TURT and AUCTION, and tokens issued by these platforms, such as BSSB and MUBI, have all dropped sharply, by more than 10%.

Regarding this sell-off and smashing incident, many veteran BRC players have said that Inscribed IDO platform tokens can be purchased at a reasonable price and can also be used as a new mining shovel, but tokens for the IDO project still need to be purchased carefully. If you can’t watch the previous one or two project tokens rise, they can go blind, and the revenue of the IDO project will fall lower and lower in the future.

Also, some users broke the news that some inscription projects just wanted to borrow money from IDOs. After the IDO, the team directly cashed out and split the money, regardless of the follow-up situation of the project. Do you think you are trying to get rich? Actually, you just took Zhuang’s order.

The original four-character inscription token can be issued by anyone. You only need to write a code or deploy it directly through a third-party platform. Why should you participate in the inscription project token issuance IDO, and what is the process for applying for an IDO for the project?

Participating in the IDO inscription project not only requires product support, such as cross-chain bridges or DEX, which require products that can actually be used. The tokens they issue will also be used as governance tokens for the project and have functions such as voting.

Regarding the Inscription Project’s IDO process, D, a veteran player in the crypto industry, said that all of the Inscription Project’s tokens need to be minted in advance, then spread the chips to raise funds such as Bitcoin or Ethereum on the IDO platform, and finally distribute them to participants.

In addition, Inscription IDO is still in its early stages. Project parties do not need any qualifications to apply for an IDO. Currently, most of the projects launched on the IDO platform are incubated or collaborated on by themselves. However, the prerequisite for the project party’s participation is that they must first mint the tokens themselves and pay the gas fee for the mint tokens. The exact cost depends on the number of tokens issued, such as 21 million, 1,000 inscriptions, for a total of 21,000. Currently, the Mint Gas fee for each inscription is about 20 US dollars, which is 400,000 Mint Gas fees. This is the project party’s cost.

He also added that in order to save costs, some IDO platforms may even choose to raise the Mint Gas fee first, then take the raised funds and then distribute Mint tokens to participants.

Overall, the quality of new projects launched on the current Inscription IDO platform is uneven, and user participation needs to be carefully screened.

Disclaimer：

1. This article is reprinted from [chaincatcher]. All copyrights belong to the original author [西柚，ChainCatcher]. If there are objections to this reprint, please contact the Gate Learn team, and they will handle it promptly.
2. Liability Disclaimer: The views and opinions expressed in this article are solely those of the author and do not constitute any investment advice.
3. Translations of the article into other languages are done by the Gate Learn team. Unless mentioned, copying, distributing, or plagiarizing the translated articles is prohibited.