After Unipeg, another noteworthy project has emerged on Ethereum: SATO.

We know the maximum supply of Bitcoin is 21 million coins.

According to its operating principle, in about 100 years, all Bitcoins will have been mined. However, in reality, it will be less than 100 years, and when the block output of Bitcoin is close to zero, the actual output will already be very close to zero. At that time, we will basically consider Bitcoin to be nearly fully mined.

At that point, the Bitcoin output will be very small, and the rewards for miners will primarily come from the transaction fees across the network.

The above conditions are derived from theoretical algorithms, but what will its trends and operations actually look like?

Our generation probably won't see it.

But now, someone has algorithmically simulated this situation on Ethereum, and we will soon be able to see the results of the theoretical deduction.

This project is SATO (sat0.org).

This is an ERC-20 token issued on Ethereum. Its maximum supply is 21 million coins. People can "mine" it (buy it) on Uniswap. This project has no airdrops, no pre-sales, no private key control, and all the funds are in the liquidity pool.

Anyone who wants to participate or exit can buy and sell on the official website (essentially Uniswap V4 Hook).

Many people believe this mechanism is similar to Bitcoin, meaning that as participants continuously "mine" coins, the remaining coins become scarcer, and by paying the same amount of ETH, the coins obtained will decrease.

In this case, it is akin to Bitcoin's block output decreasing.

However, I think it is more accurate to say that it is a social practice implemented in a smart contract that locks a capped supply and sells it fairly.

When I first saw this project, the first thing that came to my mind was not Bitcoin, which many people associate it with online, but rather the inscriptions that once thrived on Bitcoin.

The inscriptions were popular for a very compelling and widely accepted idea: fair sales—meaning that even the project team cannot gain an advantage through technical means simply because they issued the project; they must mine coins on-chain using the same methods and rules as all participants.

This practice poses a significant challenge to the ICOs that once flourished on Ethereum.

Beneath many ICOs lay numerous technical tricks, too much private key privilege, too many backdoors after transfers... All these existed because the smart contract mechanisms at that time were not easy to circumvent flexibly, making it too easy for project teams to leave behind a slew of backdoors under various pretexts.

Inscriptions were able to achieve fair sales easily due to Bitcoin's minimalist technical architecture, but "pros and cons come from the same," and precisely because of this minimalism, while they could achieve fair sales, it was very difficult to realize other matters, such as being challenging to adapt or derive more complex transaction scenarios.

Uniswap's V4 Hook has solved these problems; this mechanism allows users to set complex custom rules in smart contract transactions, deriving various mechanisms we have never seen before or previously found difficult to implement flexibly.

SATO is one of those.

It successfully absorbed the advantages of the inscription technology through the Hook mechanism, entirely simulating the previous "fair sales" of inscriptions on Ethereum.

The earlier introduction of Unipeg is also like this.

It is also based on the Hook mechanism, designing a brand-new token scenario that possesses both NFT characteristics and ERC-20 token characteristics.

The Hook mechanism of Uniswap V4 has, in just a few days, consecutively "promoted" two projects, giving rise to two noteworthy innovations.

This situation hasn't been seen in the Ethereum ecosystem for a long time.

The Uniswap V4 Hook went live officially in January last year.

I remember that during that time, many articles generally regarded it as a technical innovation; although they were excited and hopeful about it, for a long time afterward, very few people in the entire ecosystem continued to pay it any attention.

After more than a year of dormancy, it has finally begun to show its potential.

I am very much looking forward to this wave of innovative enthusiasm and momentum being sustained continuously.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。