What is ETHS?
Etch Market is a prominent Ethscriptions platform that facilitates the trading of tokens, NFTs (Non-Fungible Tokens), and domain names at a significantly lower cost, boasting a 40x reduction in fees. The platform addresses Ethereum's scalability challenges by utilizing Ethscriptions, an innovative solution.
The primary goal of Etch Market is to establish itself as the leading community-driven Ethscriptions marketplace. To achieve this objective, the platform consistently introduces new features and refines its user interface to enhance user-friendliness. Embracing the principles of freedom and decentralization inherent in the crypto world, Etch Market is actively working towards transforming into a fully decentralized platform in its V2 release. As an initial step, the platform has launched a secondary indexer for Ethscriptions, contributing to the verification of asset authenticity alongside the official indexer.
The Ethscription Liquidity Protocol aims to facilitate liquidity for transactions involving Ethscription Protocol tokens through a dual-component approach—Split Protocol and Staking Protocol. In the Staking Protocol, users stake "mint" Ethscriptions, or eths for short, with 50% locked in the Vault and 50% transferred to the Available balance, allowing redemption at any time. Stakers receive rewards, including a reduction in service fees and an additional 1% directed to the Vault Treasury. The Split Protocol involves staking, which provides an available balance, and splitting, allowing direct trading of ethscriptions after verification. Together, these protocols promote liquidity, incentivize stakers, and support a robust Ethscription ecosystem.
Price Prediction
On etch.market, the purchase of ETHS tokens is conducted in batches, meaning users acquire a set quantity, such as 1000 tokens, as a single unit. Historically, users have been accustomed to this batch purchase system due to marketplace limitations. However, when ETHS tokens are listed on exchanges like BingX and traded as a spot ETHS/USDT pair, individual token trading becomes possible. In this scenario, transactions occur off-chain through matching within the centralized exchange (CEX), allowing for both individual purchases and sales.
The flexibility in trading on a CEX exchange is attributed to the exchange's ability to manage packaging and unpackaging of tokens. Consequently, users who purchase tokens on a CEX exchange can choose to sell them back to the chain in batches if they wish. Anticipated on the CEX exchange is an expected ETHS price of approximately 4.5U, with a capped increment at 10U slated for 2023. This shift from batch purchases on etch.market to individual trading on CEX exchanges introduces greater flexibility and liquidity for ETHS token transactions.
