Facet is a new generation blockchain expansion platform inspired by Ethscriptions (to solve the problems of inscription asset splitting and liquidity) and 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 enables you to use Ethereum at a very low cost (about one-tenth) without sacrificing security and decentralization. This new expansion paradigm effectively overcomes the defects of the traditional Rollup scheme, such as centralized sorting, downtime, and possible censorship of users by operators.
At the same time, Facet is loosely coupled with the underlying blockchain that provides transaction sorting. With the continuous prosperity of market demand and ecology, it can be easily deployed to all EVM-compatible (even non-EVM) blockchains. Facet is a new generation of secure, decentralized, and low-cost blockchain computing platform.
Facet represents a new blockchain expansion paradigm that is expected to replace all traditional L2s as a whole. Facet and the DA layer are loosely coupled, and as market demand and the ecosystem continue to prosper, it can be easily deployed to all mainstream L1 public chains.
At the same time, by integrating with protocols such as BTC BRC20 that have the same technology, Facet has created a new and easy-to-implement path for cross-chain and multi-chain interoperability, and is expected to eventually become a supercomputing platform that integrates all-chain assets and DAPPs.
Facet is divided into 4 stages
1. In the Ethereum inscription stage, the core assets come from Ethereum inscription; 2. In the Ethereum W ecological stage, the core assets come from ERC20; 3. In the cross-chain ecological stage, BTC ecological assets are introduced; 4. In the full-chain ecological stage, the Facet protocol will be deployed to all mainstream EVM-compatible chains and layer2 platforms to issue inscription assets, FT assets, and NFT assets.
Rachel Chu is an old OG in Ethereum DeFi and a big shot who participated in the construction of Sushi. Now she has joined the Facet team, and her intention is obvious! The Facet ecosystem is being planned behind the scenes. Sushi may be connected to Facet. Dexes other than Uniswap need to find new growth points, and connecting to the Facet protocol is a good direction. As mentioned earlier, the Facet protocol reduces gas to 99%. If Sushi is connected to Facet, the cost will be reduced by 10 times compared to Uniswap. Uniswap will be very dangerous and may be killed. Uniswap will choose to join if it has no choice to face positive competition, and the entire ecosystem will be more prosperous. It is getting better and better. Some powerful big shots are promoting the development of Facet. Don't underestimate the resources of the founder Tom. He is very powerful. He was previously invested by a16z. The team now has top-level Pepe's backers, Sushi's core developers. Many resources are diffused. Only the core contributors of Sushi can pull in more people from the early OG of the Ethereum mainnet. If someone from the Ethereum Foundation is brought in, it will be even more impressive. However, even if these people come in, they will not speak out too much before they are full, because they need to hold more chips. Those who understand will understand. The founder hopes that more developers will go to the Facet platform to develop various dapps similar to opensea. It is cheaper to apply gas on Ethereum. The L2 chain has certain security risks. It is inevitable that FTX problems will occur when people control the computer. If a security problem occurs, billions of dollars may be lost like the FTX incident. Facet is decentralized and no one can shut it down, so it is safer.
The founder of Facet Inscription challenges the entire L2!
