On December 28, the Sui chain inscription ISSP completed Free Mint, and more than 10,000 addresses participated in Mint more than 2 million times in just 2 days. Due to the influx of too many users in a short period of time, Sui chain's TPS broke through 1,000 for the first time. On December 29, ISSP completed the transfer of any number of inscriptions and the launch of the trading market function. So far, the transaction amount of ISSP has exceeded 1.75W Sui, and the number of currency holding addresses has exceeded 20,000.
The Fomo sentiment of the Inscription Project has made users excited, but the lack of technical support has led to users "playing" in vain, and there are countless examples of failure in the end. ISSP's innovative ideas and extremely fast development speed have also been recognized by well-known institutions: ISSP not only became the first Inscription protocol on Sui Network to be supported by OKX Web3 wallet, but also received investment from KuCoin Lab on January 2.
Next, let’s take a look at the innovations of ISSP that have earned it the favor of well-known institutions.
ISSP Protocol Introduction
ISSP is the first infrastructure project on SUI Network that integrates Inscription Launchpad, Marketplace and Swap. Relying on the natural advantages of Sui Network's unique inscription system object model, it has initially launched the Sui-20 standard protocol inscription on Sui Network. By improving the infrastructure, more developers and communities will be involved in the construction of Sui Network's inscription ecosystem, and jointly promote the development of Sui Network's ecosystem.
ISSP uses the indexer that comes with the Sui chain node to index the inscription data, obtaining the highest performance and most stable inscription experience. At the same time, ISSP supports seamless docking of inscriptions with CEX, without the need for CEX to develop additional docking inscription protocols.
Realize cross-chain interoperability between Sui and BTC
There are thousands of popular inscriptions, and expensive inscriptions are almost all occupied by BTC. BTC is the place where the inscription dream begins, and it is also the ecosystem with the strongest consensus on the value of inscriptions. The ceiling of inscriptions is subject to the market value of its public chain itself. If too many meme inscriptions that can only provide emotional value are posted, it will also cause "aesthetic fatigue" among users. The author believes that if the inscriptions on Sui want to break through the ceiling, it is necessary to build infrastructure that cannot be done in the BTC ecosystem, and at the same time introduce the "living water" of the BTC ecosystem. The next step of ISSP is to first implement the deployment of the inscription exchange protocol on the BTC and Sui chains. In the future, it is also planned to launch an inscription exchange system and a cross-chain system, and gradually expand to all EVM-compatible chains and second-layer networks.
Inscription Launch Platform
ISSP will also launch a decentralized inscription publishing platform and open market. Any Sui inscription project can be fairly launched through ISSP and traded on the platform. The contract will automatically charge a certain amount of $ISSP as a startup fee, and this part of $ISSP will be completely destroyed. In addition, 5% of the total amount of each new inscription will enter the $ISSP staking pool, allowing users to stake $ISSP to obtain these new inscriptions.
ISSP Token Introduction
$ISSP is the platform token of ISSP and the first inscription token of SUI-20, with a total circulation of 10,000,000,000. All tokens have been fully circulated through fair mint, with a current total market value of 7 million US dollars. Users can trade by linking Sui wallet or OKX wallet: What is eye-catching is that users can place any number of orders without the need for inscription splitting or merging.
Less than four days after the launch of the trading market, the transaction volume of $ISSP has exceeded 175W Sui, and the number of holding addresses exceeds 20,000, which means that the $ISSP community has a large and loyal user base. In the future, $ISSP will have more application scenarios, such as staking to obtain new inscriptions issued by the platform fairly, and further reducing the circulation through staking and destruction.
summary
The wealth-creating effect of inscriptions has brought many new users to the public chain, but not every public chain can handle this sudden "traffic password". Some public chains are blocked or even down because they cannot handle "DDoS". The inscription project is not only a touchstone of the technical strength of the public chain, but also a test of whether the public chain ecology can attract excellent developers to do projects, as well as the ability to guide and support the ecology. In addition to the flourishing inscriptions and L2, BTC also has excellent infrastructure such as TurtSat and Multibit, which have performed well after going online. At present, ISSP is still in its early stages of development. As more new projects are launched on the platform, ISSP, as an important builder and promoter of the early SUI 20 ecology, may become a golden shovel for mining value investment, especially after the ISSP pledge function is launched, it may usher in a new wave of development.
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