Written by: c00k1e, BlockBeats

Special thanks to: xinyi

It has been two days since the Fractal mainnet was officially launched. Before we review these two days and look forward to the opportunities that may arise in the future, I found a problem that makes me laugh and cry -

Many people still don’t know where to buy $FB...

The most direct manifestation of this problem is that at 11 o’clock in the evening on September 9, a "new FT protocol" called FLUX suddenly appeared. Somehow, foreigners also noticed this "inscription disk" that our Chinese are most familiar with. Some foreigners even asked where there is an OTC for $FB...

So before continuing with the following content, let’s take a look at the channels that can trade $FB:

- The CEX that can currently trade/charge and withdraw $FB is CoinEx was founded in 2017. The Epic Sat mined during the previous halving was auctioned by CoinEx and ViaBTC, so the background is reliable.

- DotSwap has launched a swap pair between Bitcoin and $FB, which can directly trade $FB on the chain or create a liquidity pool for $FB.

Okay, let's review the Fractal of the past two days.

$FB circulation

How much $FB is currently in circulation?

In addition to the 1 million $FB airdropped, the rest of the $FB reserved as mentioned in the white paper, first of all, 15% of the ecosystem treasury, 60,000 $FB were transferred out, and these 60,000 were transferred to 6 addresses, 10,000 each, which is exactly the same as the 6 projects that received the Season 0 Grant announced by Fractal. Only one Fractal in the 6 addresses was moved, and the 60,000 are not much, so this part can be regarded as non-circulating.

10% of the community incentives, 1 million $FB were transferred out, which is the part of the airdrop.

5% of the pre-sale, 7-month lock-up period, did not move.

5% of the advisory share, can use up to 20% per year, no move.

15% of the core contributors, 7 months lock-up period, no move.

So the current circulating market value is about (1 million airdrops + 25 block rewards * 7783 blocks produced) * 20 ≈ 24 million US dollars, while FDV is 4.2 billion US dollars.

Mining - Volatile, really Volatile

The current Fractal network's total network computing power is 261.604 EH/s.

How to explain how volatile this data is? The current total network hashrate of Bitcoin is about 661 EH/s, which means that Fractal's total network hashrate is about 40% of Bitcoin's.

We can understand it more deeply through a rough estimate. The hashrate of an Antminer S21 miner is 200 TH/s, and the official website price is $5,400. Currently, the single mining pool with the largest hashrate on Fractal is MaxiPool, which has mined 1,335 blocks, that is, 1,335 * 25 = 33,375 FBs, an average of 16,687.5 per day. At present, the total computing power of MaxiPool is 3703010 TH/s. If we calculate it according to the current $FB price without calculating the electricity cost, an Ant S21 mining machine needs 5400 / (200 / 3703010 * 16687.5 FB * 20) = 300 days to pay back.

Small investors who hope to participate in mining by leasing computing power and holding computing power NFTs are also losing money. The total amount of $FB mined by FSIC is 259 pieces, averaging 0.068 pieces per NFT. FSIC only leased computing power for one year. If we only follow the situation in the past two days, then the average amount of $FB per NFT in a year can only be distributed to 12.4 pieces.

So, the floor price of FSIC has been going down...

The reason for the volume is mainly because the following large mining pools have joined in joint mining, which means that they can also get $FB income while mining Bitcoin. Therefore, there are some negative voices that believe that the large mining pools are "freeloading".

Also, who is the mining pool that ranks first? The computing power of 101 EH/s cannot be a small miner, it can only be a large mining pool. Looking at the data on mempool.space, it seems that there is no match, so could this be a joint force of multiple mining pools?

FLUX——Familiar inscription disk, never late

Around 11 pm on September 9, the day Fractal was launched, FLUX suddenly appeared, and it was obvious that it was well prepared. It costs 0.05 FB to play one, and the total number of 21,000 is one hour.

This project has had "startup" experience in Pipe ecology and Rune before. I don't want to talk about the controversy about FLUX charging and the overall protocol being very similar to the Pipe protocol, because there is no need to dwell on this point, after all, the over-the-counter price once reached 50 U. In addition, although Fractal has announced that it will not index inscriptions before block height 21,000, this FLUX is a UTXO-based FT protocol. In simple terms, it is similar to Rune, not like BRC-20, which is built on the basis of the Ordinals protocol.

I just want to remind everyone not to be too "patterned". Comparing the introductions of Pipe and FLUX on Github, they are almost exactly the same, so I said "come prepared" - the thing is still the same thing, but the place is not the same place.

This is Pipe

This is FLUX

In addition to FLUX, @gm7t2 has made the Ordinals browser for the Fractal network, and the inscription number displayed on it has now reached 50465. Seeing a bunch of CryptoPunks, mfers, Moonbirds, etc. that have been moved, it really brings me back to the early days of Ordinals.

These inscriptions exist but will not be indexed. I also think that there will be basically no room for the hype of the previous "curse inscriptions". Let's just watch the excitement.

But today, Cat Protocol, which uses OP_CAT, was released. This project actually uses OP_CAT for innovation. Friends who want to know more can check out their official documentation.

What are the opportunities worth paying attention to?

I think there are two stages.

First, before the Ordinals protocol is activated at block height 21000, I would not be surprised if someone moved something like Pipe over, such as renaming Atomicals or not. But I am not very optimistic about whether it can be hyped up. After all, FLUX can be popular because no one has time to analyze whether it is really innovative. How the price will behave after people react remains to be seen.

In addition, it seems that there will not be many fun things before the block height of 21000... Although I really hope there will be.

Then there will be more things to play with, and I think the following are worth paying attention to:

- The appearance of meme disks like ETH/Solana/Base on the faster Fractal. At present, there are already three companies that want to build pump.fun on Fractal, namely Satspumpfun, satx.fun and BVM. They are all "old faces" - Jack Liu is in the advisory team of Satspumpfun, satx.fun should be from the Moto series, and BVM is BVM... So, the key here may be two points. One is to see which company is more willing to spend money to create a god disk, and the other is to see which company can attract more high-quality meme token initiators. In addition, we have to see whether the network experience can be as smooth as it is now after Fractal really becomes popular.

- The NFT projects that are more worthy of attention at present are honzomomo and "Fractional Goose". The former has been operating the official push since July, and the popularity is quite good, but what I don’t understand is that they say in their publicity that they are the first Fractal small picture series. How can this be guaranteed by then? The latter is Goosinals, which was popular on the mainnet. The reason for this is that their team has been promoting the "Fractional Goose". Since August 11, they have said that "Fractional Goose" will still be a free and open casting, "First is First" 10K series. Secondly, for other image projects, it may be difficult to transfer consensus to Fractal or even resist, but the Goosinals series itself was formed by everyone spontaneously using Dmitri Chernia's pixel goose image generator for MoMA Postcard and then engraving it into an inscription. At that time, there were geese on multiple chains, and there was no such serious "parent chain" plot or value dependence. Finally, the Chinese community is the backbone of the Goosinals community, and Chinese players themselves are very interested in Fractal.

So for all the above, we can prepare now:

- Buy some $FB and divide it into multiple addresses. When encountering new projects, use multiple addresses together to prevent a single address from being stuck with UTXO and falling behind others.

- For "fractal goose", use the pixel goose image generator (https://goosegenerator.com/) to generate your favorite goose image in advance, and start the game as soon as the block height 21000 arrives (it seems so at present, but you still need to pay close attention to the official push dynamics, as for the engraving tool UniSat, it will definitely be online at that time)

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