TechFlow reports that Bitcoin sidechain MVC has announced its first inscription protocol, MVC-20, on X, with Fair Mint set to begin on January 22.
MVC-20 adopts a Burn to Mint mechanism—no presale, no whitelist, no team allocation, and no gas fee front-running. All users minting MVC-20 tokens must burn a certain amount of SPACE; the burned SPACE becomes the intrinsic value of the MVC-20 tokens and does not flow into the project team's or miners' wallets.
MVC-20 introduces the Burn to Mint mechanism: Through its innovative Burn to Mint concept, MVC-20 distinguishes itself from BRC-20 asset protocols. Deployers can decide the burn rate for MVC-20 tokens at deployment. Subsequently, all users minting MVC-20 tokens must burn a specified amount of SPACE to proceed. The burn rate can be set between 0 and 10 SPACE.
