Facet was born to solve the problem of inscription asset split and liquidity
A new generation of blockchain expansion platform that is different from traditional L2. Facet is currently built on Ethereum and all transactions are Ethereum transactions. By changing the interpretation of these transactions and data, Facet allows you to use Ethereum at an extremely low cost (around 1/10th of the cost) without sacrificing Security and decentralization. This new extension paradigm effectively overcomes the shortcomings of the traditional Rollup scheme, such as the centralization of the sorter, downtime, and the possibility of operators censoring users. At the same time, Facet is loosely coupled with the underlying blockchain that provides transaction ordering. As market demand and the ecosystem continue to prosper, it can be easily deployed to all EVM-compatible (even non-EVM) blockchains.
$Facet is an inscribed asset fairly issued and operated by the community. Facet inscription assets can be split into fungible (FT) tokens that are compatible with the ERC-20 standard across domains to the Facet mainnet via the Facet bridge. Inscription assets, FT assets, and NFT assets can be issued on the Facet platform.
The mission of the Facet community is to promote and spread the Facet protocol, apply it to various fields such as DeFi, GameFi, SocialFi, etc., and advocate this new paradigm revolutionary movement. This mission reflects the Facet community’s firm commitment to promoting the development and popularization of the protocol, as well as its positive attitude towards leading a new round of technological innovation.
