Singapore, Dec. 28, 2023 (GLOBE NEWSWIRE) -- On December 28, 2023, UXUY, the next-generation decentralized multi-chain trading platform incubated by Binance Labs, announced the launch of the world’s first standardized indexer for the multi-chain inscription market—UXUY Indexer. This is the most important iteration of UXUY in the Bitcoin ecosystem after the Struck by Lightning plan. It means that UXUY officially serves the inscription track as a builder, providing standardized indexing services for Bitcoin Ordinals, BRC20 and the entire inscription market.
UXUY believes that inscriptions, as a new narrative in the crypto field, are becoming the third largest crypto asset type after Token and NFT. More value and innovation will be created here, and it will completely rewrite the way assets are created in the crypto industry.
UXUY Indexer will adhere to the principle of decentralization, fully embrace Bitcoin and the spirit of Satoshi, and build a solid infrastructure for the long-term prosperity and development of the inscription market.
UXUY is willing to participate with more builders to promote inscriptions to become a phenomenon-level consensus in the encryption industry.
As Satoshi Nakamoto wrote in 2009:
“It might make sense to get some in case it becomes popular. If enough people think the same way, it becomes a self-fulfilling prophecy.” (January 2009) — Satoshi Nakamoto
Inscription and Crypto Equality
At the beginning of its establishment, UXUY officially issued Crypto Equity Manifesto, proposing that trading is the only weapon that can break down barriers, advocating that various ecosystems should break down barriers, conduct cross-chain transactions, build a crypto ecosystem without walls, and jointly promote crypto equality, which coincides with the spirit of the inscription being highly consistent.
As a fairer way to create assets, inscriptions establish a complete trading market between various ecologies and explore new opportunities for innovation.
2023 is the first year for the cryptocurrency inscription market. The Ordinals protocol has completely ignited the inscription market. Currently, more than 50 million inscriptions have been inscribed on the Bitcoin network, and the cumulative inscription casting fee is as high as 5039 BTC, which is approximately US$215 million.
At present, the development of the inscription track is still in its early stages. The inscription specifications among various ecology are not the same, and there is no real-time trading of inscriptions. On the Ethereum ecosystem, more than two million inscriptions have been minted, but most of them are in a state of dissociation, with no transactions or transfers occurring.
The of the inscription has just begun...
UXUY believes that the discovery of value must be based on transactions, and this is especially true for the inscription market. UXUY will actively improve the infrastructure of the inscription market to safeguard cryptographic fairness among various ecosystems. UXUY adheres to the principle of cryptographic equality, serves the inscription market, provides infrastructure for the construction of the inscription market, actively maintains the on-chain storage and off-chain computing functions of the indexer, and creates a more friendly off-chain environment for inscription transactions.
In this regard, UXUY proposed that the Inscription market should abide by the idea of DMT (Deploy, Mint, Transfer), and Inscription should not rely on any project party to complete transaction transfers.
UXUY will establish the first inscription infrastructure that embraces Bitcoin and the spirit of Satoshi. Based on serving the entire inscription market, it will open up the inscription transaction barriers of various public chains and Layer 2, connect every corner of the crypto continent, and promote the consensus of crypto equality. Illuminating more emerging assets.
Why we need an indexer
The indexer is an important part of the Inscription world. It is used to track the wallets, quantities and other information of the Inscription tokens held to ensure that the Inscription market of cryptocurrency operates effectively.
The inscription data is only stored on the chain and is an original certificate. The update and check of the data rely on the indexer to solve the problems of indexing, retrieval, and settlement of the inscription ecological data.
At the same time, the indexer reads all inscription transaction information, checks which inscription is "deployed" first, and maintains the "First is First" criterion. By tracking which wallets deployed the original token supply, what the maximum limit was, when minting was terminated, and the traceability of those token wallets in the secondary market’s “Transfer”.
Without indexers, inscriptions would be limited to indistinguishable Josn text files, and the market for inscriptions would cease to exist.
Embracing the spirit of Satoshi
UXUY actively embraces Bitcoin and the spirit of Satoshi, and is based on conducting inscription transactions and transfers through native protocols without relying on any project parties. UXUY calls on the market to adhere to the Declaration of Crypto Equality, abide by DMT ideas, and actively embrace the inscription infrastructure of Bitcoin and the spirit of Satoshi.
Bitcoin has revolutionized the world through a trustless system for financial transactions without intermediaries, and Inscription creates a fairer and more decentralized way of asset development, and the entire encryption industry will enter a "trustless" era.
About UXUY
UXUY is a next-generation decentralized multi-chain trading platform incubated by Binance Labs and based on MPC wallet.
UXUY actively participates in the construction of the Bitcoin Layer2 ecosystem, fully integrates into the Bitcoin Lightning Network and Taproot ecosystem, provides users with lightning address DID services, and becomes an important bridge connecting the Bitcoin and Ethereum ecosystems. UXUY provides traders with instant cross-chain transaction services for coins, tokens, and Inscriptions between various public chains by establishing uPool centered on stablecoins. It is currently connected to public chains and Layer 2 such as Bitcoin, Ethereum, BNB Chain, Polygon, Tron, Optimism, Arbitrum, Avalanche-C, Fantom, Linea, and Base. Provide social trading functions, create Gas solution GasPool, provide users with a CEX-like trading experience, and significantly reduce the threshold for on-chain transactions.
UXUY launches Project Columbus, calling on brave navigators to wear TricornHat, start the Age of Discovery, and jointly search for Where 100x Happens!
