A myriad of crypto asset protocols are emerging, while OKX Web3 Wallet enhances its one-stop experience
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A myriad of crypto asset protocols are emerging, while OKX Web3 Wallet enhances its one-stop experience
In the evolution of crypto asset protocols, the OKX Web3 wallet will be one of the most important infrastructures.
Navigating Web3 tides with focused insightsThe failure of "Colored Coins" in 2012 to realize asset issuance on the Bitcoin network highlights the significant advantages of Ethereum's smart contracts. Ethereum’s first token standard, ERC-20, defined interface specifications for token contracts through smart contract functionality, simplifying and unifying token issuance standards and transaction frameworks while enhancing interoperability among tokens. The success of the ERC-20 standard fueled the prosperity of Ethereum’s token economy, with over 80% of projects adopting Ethereum as their underlying architecture.
Later, the ERC-721 and ERC-1155 standards introduced non-fungible tokens (NFTs), creating new types of assets distinct from the fungible tokens supported by ERC-20, bringing innovative potential to blockchain gaming, on-chain identity, digital art, and other fields. Additionally, various asset protocols such as ERC-223, ERC-884, and ERC-777 have emerged in the crypto industry, but most have faded into obscurity amid the broader waves of development. Only a few key standards—ERC-20, ERC-721, and ERC-1155—have become pivotal pillars driving the evolution of crypto assets.
In 2023, the emergence of Bitcoin inscription asset issuance protocols like BRC-20, ARC-20, SRC-20, Runes, and DRC-20, alongside experimental token standards such as ERC-404 that combines NFTs and fungible tokens on Ethereum, and Solana’s Tiny SPL aimed at solving NFT liquidity issues, shattered the long-standing dominance of Ethereum’s ERC-20 and ERC-721 asset protocols. The crypto asset protocol landscape has entered an era of flourishing diversity, enriching the ecosystem with inscriptions, pictorial coins, tokens, and NFTs. Meanwhile, user demand for trading diverse assets has grown stronger than ever. However, the development of emerging assets across different blockchains has exposed outdated and rudimentary infrastructure, which not only fails to meet user needs but also exacerbates fragmentation of popular assets, making it difficult for niche narratives to resonate across the industry. In this context, OKX Web3 Wallet—with its strong technical foundation—has rapidly responded to market trends, addressing user needs by delivering a seamless, all-in-one trading experience. It is becoming an indispensable and most advanced trading tool in the Web3 space, fundamentally resolving these pain points.
ERC-404 and Tiny SPL Standards: Exploring New Paradigms for Token-NFT Integration on Ethereum
Supported by ERC-721 and ERC-1155, non-fungible tokens (NFTs) brought revolutionary concepts to Ethereum. However, due to their indivisible and unique nature, they cannot be traded via order-book matching like ERC-20 fungible tokens and are limited to simple listing-based transactions. Theoretically, NFT liquidity would not be an issue if the market were large enough, but due to narrow narratives and rigid gameplay models, NFT liquidity remains heavily criticized and a major obstacle to broader scalability.
NFT fractionalization protocols such as Fractional, Niftex, and Unicly have continuously explored solutions to NFT liquidity challenges—mainly by fragmenting high-value NFTs into smaller-value NFTs or ERC-20 tokens. However, persistent issues such as value confusion and reliance on third-party protocols have prevented meaningful breakthroughs. Recently, the hybrid ERC-20 and ERC-721 token standard ERC-404 emerged as a native, built-in solution offering inherent liquidity and fractionalization, pioneering a new paradigm for integrating tokens and NFTs on Ethereum. Take Pandora, the first project built on ERC-404: when users buy or sell PANDORA tokens, they simultaneously receive newly minted or burned Relicant NFTs, with rarity dynamically changing. This innovative mechanism opens up a new world for crypto assets.
ERC-404 merges pictorial coins into one framework while allowing them to be traded separately—enabling NFTs to retain their original attributes while being tradable on DEXs like regular tokens. To better support innovative asset protocols and respond quickly to user demands, OKX Web3 Wallet was the first to support the ERC-404 standard, enabling users to trade PANDORA and other ERC-404 tokens on OKX DEX, discover trending projects via the dedicated ERC-404 section, and trade Relicant NFTs and other ERC-404 NFTs on the OKX NFT Marketplace—providing secure and convenient access to the ERC-404 ecosystem.
The newly emerged Tiny SPL token standard in the Solana ecosystem shares similarities with ERC-404. Its first project, Deez Nuts (DN), can be traded both as an NFT on the OKX NFT Marketplace and as a token via its own AMM and OKX DEX. All metadata for Tiny SPL tokens is stored on-chain, similar to Bitcoin Ordinals inscription assets. OKX Web3 Wallet has evolved into the most comprehensive, rewarding, and secure wallet supporting the Solana ecosystem. Users can perform cross-chain trades on Solana via OKX DEX, participate in leading Solana DeFi protocols for staking and lending through OKX DeFi, explore Solana NFTs and inscription ecosystems on OKX NFT Marketplace, manage Solana assets using OKX Web3 Wallet, and interact with trending Solana dApps via the OKX Discover section—helping users swiftly capitalize on opportunities presented by new Solana token standards like Tiny SPL.
The emergence of Tiny SPL and ERC-404 endows NFTs with inherent NFT-Fi properties. While both remain experimental and carry risks of failure, they lay a solid foundation for future integration of tokens and NFTs, opening new avenues for innovation. Through OKX Web3 Wallet, users gain the fastest, most comprehensive, and safest way to experience these emerging asset protocols.
Rise of Multiple XRC-20 Protocols: Flourishing Innovation in Bitcoin’s Asset Ecosystem
The birth of the highly innovative and experimental Ordinals protocol officially marked the beginning of Bitcoin's asset protocol evolution. The emergence of Bitcoin token standards such as BRC-20, ARC-20, SRC-20, Runes, and DRC-20 inherits the vision of “Colored Coins” to enable asset issuance on the Bitcoin network, achieving breakthroughs that transform Bitcoin from a pure peer-to-peer electronic cash system into a platform with far greater possibilities—and addressing miner revenue concerns after Bitcoin mining concludes.
These emerging asset protocols reveal the immense potential of Bitcoin’s network ecosystem, sparking a surge in inscription narratives. Responding promptly to user demand, OKX NFT Marketplace launched the OKX Ordinals Marketplace early, quickly securing a leading market position. According to Dune Analytics, on January 30, OKX Ordinals captured 89.3% market share, surpassing $1 billion in total trading volume, becoming the industry’s largest marketplace for BRC-20 inscriptions and BTC NFTs. Fully decentralized, the OKX Ordinals Marketplace offers fee-free platform interactions and supports one-stop functionalities including transferring, trading, and inscribing BRC-20 tokens and BTC NFTs. It also provides powerful inscription tools enabling batch inscription with a single signature—up to 1,200 inscriptions per batch on the Bitcoin network and automatic inscription of 50 items on EVM networks—greatly streamlining complex processes and improving transaction efficiency. Furthermore, the marketplace optimizes UTXO spending order to reduce user gas fees and employs encrypted PSBT signatures, disables RBF transactions, and uses server-side broadcasting during listing and purchasing to prevent malicious low-fee transaction blocking. For UTXO management, it features protection against invalid UTXO spending and intelligent release of ineffective UTXOs, automatically identifying worthless NFTs and expired BRC-20 and BRC20-S inscriptions, allowing users to free up occupied assets with one click.
OKX Web3 Wallet is progressively integrating inscription token standards such as ARC-20, SRC-20, Runes, and DRC-20, offering millions of users zero-fee inscription trading services and establishing itself as the industry’s first and most advanced all-in-one inscription ecosystem platform. For example, OKX Web3 Wallet already extends support across multi-chain inscription ecosystems: OKX NFT Marketplace supports recursive inscriptions, cursed inscriptions, BRC-420, Solana inscriptions, and Aptos inscriptions; OKX Discover has added an Ethscriptions zone, helping users seamlessly interact with trending dApps and fully engage with the inscription ecosystem.
Although asset protocols like BRC-20 are not the ultimate solution for Bitcoin’s ecosystem, they have driven Bitcoin network development forward, preserving Bitcoin’s security and authenticity while enhancing scalability. While we cannot simply replicate Ethereum-style innovation directly onto Bitcoin, the evolution of inscription asset protocols resembles a renaissance movement, writing a new narrative for Bitcoin’s future. OKX Web3 Wallet will stand as one of the most critical infrastructures within the Bitcoin ecosystem.
Asset Protocols Enter a New Era: OKX Web3 Wallet Enhances All-in-One Experience
In the crypto industry, everything can be “tokenized.” Tokens represent proof of rewards, governance rights, identity, contributions, and more, becoming central to project growth and user engagement. Thousands upon thousands of tokens are issued every moment under various asset protocols, making diversified token standards increasingly important. The emergence of ERC-404, Tiny SPL, and various XRC-20 protocols breaks the established paradigms of ERC-20, ERC-721, and ERC-1155, ushering asset protocols into a new era. As public chains continue to flourish and more innovative asset protocols emerge and evolve, they offer expanded options for token issuance and value capture, which is vital for the healthy development of the entire crypto ecosystem.
The boundaries between inscriptions, pictorial coins, tokens, and NFTs are gradually blurring and converging toward innovative integration. Influenced by the innovation示范 effects of major public chains like Bitcoin, Ethereum, and Solana, asset innovation across different blockchains is accelerating, raising higher and more urgent demands for crypto trading tools. OKX Web3 Wallet continuously deepens its best-in-class all-in-one experience through technological innovation, with enhanced synergy and compatibility across DEX, DeFi, NFT Marketplace, and Discover modules to better adapt to evolving user needs.
Notably, OKX NFT Marketplace, OKX DEX, and the Discover section respond exceptionally fast to user demands. OKX DEX, for instance, ranks among the industry’s most powerful DEXs and cross-chain aggregators, currently aggregating over 10 cross-chain bridges, 20+ public chains, and 300+ DEXs. Leveraging X Routing intelligent routing, it enables single transactions to utilize multiple DEXs simultaneously, providing users with optimal prices, superior liquidity, and zero trading fees. It also includes features such as DEX market data, limit orders, and KYT security checks, comprehensively meeting mainstream and innovative fungible asset trading needs.
Every day in the crypto industry sees the birth and death of several asset protocols. Only a select few survive intense competition to rise above, carrying hopes for simpler, more efficient systems and building broader community consensus. The market must embrace such innovation with both caution and openness.
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