What Do You Get from Combining 3 Powerful Ethereum Standards?
By Olivier Acuña | TH3FUS3 Chief Editor
October 1, 2024 11:12 AM
Reading time: 3 minutes, 2 seconds
TL;DR Incept has officially launched $INCEPT, a groundbreaking digital asset built on the experimental ERC-4D standard. This breakthrough token redefines asset storage, trading, and usage on-chain by combining three powerful Ethereum standards. $INCEPT paves the way for multi-layered functionality in a single token, pushing the boundaries of on-chain innovation.
Incept has officially announced the launch of $INCEPT, an unprecedented digital asset built on the experimental ERC-4D standard. This breakthrough token redefines how assets are stored, traded, and used on-chain by combining three robust Ethereum standards: ERC-20 (fungible token), ERC-721 (non-fungible token), and ERC-6551 (token account-wallet).
Unveiling the Power of ERC-4D
Fusing these token standards enables $INCEPT holders to unlock multi-layered functionality in a single token, further pushing the boundaries of on-chain innovation. As an experimental dual-root token standard, ERC-4D introduces the concept of dimensional tokens, offering flexibility and liquidity never before seen in blockchain ecosystems.
$INCEPT represents a unique collection of 10,000 "variants" bound to the first tokens created using the ERC-4D standard.
These tokens are more than just digital assets; they are the building blocks of a multi-layered and multi-dimensional ecosystem, opening up new possibilities for tokenization and asset management on-chain.
Seamless Integration of Standards
By utilizing the ERC-20 standard for traceability, the ERC-721 standard for ownership of non-fungible assets, and the ERC-6551 standard for its wallet functionalities, $INCEPT seamlessly brings together the best features of each.
This unlocks a groundbreaking token, a self-contained wallet capable of holding other tokens, NFTs, and more. This liquid token-bound account model enhances the asset's utility and liquidity.
The ERC-4D token standard at the core of $INCEPT allows it to function as a multi-layered asset. It combines the utility of ERC-20 with the innovative wallet capabilities of ERC-6551, creating a freely tradable token that simultaneously acts as a liquid container capable of holding other assets.
Nested Ownership and Inception
In practice, each $INCEPT token functions as a standard asset and a wallet that can store other tokens, NFTs, or data. This enables nested ownership—one INCEPT token can hold another token, creating endless possibilities for recursive ownership models and sophisticated asset management.
"For the first time, token holders can utilize multi-layered assets within a single token, effectively 'liquidifying' everything."
Imagine holding a token and other assets or even more INCEPT tokens within the same token. This recursive function of multi-dimensional ownership radically transforms how assets can be leveraged and utilized on-chain.
The Grandfather Paradox Mechanism
One of the most novel aspects of the ERC-4D standard is its introduction of a cyclical ownership model, known as the Grandfather Paradox Mechanism.
In this model, the ERC-6551 token account is designed to own the original ERC-20 token that created it. This creates a loop of ownership, which adds complexity and introduces exciting new functionalities and use cases in decentralized finance and governance.
The Grandfather Paradox adds a layer of self-reference to token ownership, giving rise to concepts such as automated self-governance and further pushing the boundaries of what is possible with decentralized token structures.
Double-Ended Queue Architecture
Incept has also pioneered a deque (double-ended queue) architecture in its ERC-4D design, utilizing the ERC-6551 token account root and the ERC-721 NFT standard.
Unlike traditional stack-based structures, the deque allows for both first-in, first-out (FIFO) and last-in, first-out (LIFO) operations, depending on what is required for optimal asset management.
This flexibility ensures that token holders can manage their assets in a way that best suits their needs, whether they prioritize rapid liquidity or long-term ownership.
Over the coming months, Incept will provide further guidance and documentation on how users can leverage their multi-layered asset dimensional container and fully unlock the power of on-chain inception with their $INCEPT tokens.
Incept is a forward-thinking blockchain project aimed at redefining the possibilities of on-chain asset management.
With the launch of the ERC-4D standard, Incept is paving the way for a new era of dimensional tokens and multi-layered liquidity.