Unveiling the Game Changer: Cutting-Edge BRC20 Tokens Sets a New Standard in the Digital Economy
Meme tokens have become a trending topic in the world of cryptocurrency. These tokens are designed to not only be a store of value but also to be entertaining and provide some humor in the finance market. Meme tokens utilize social media and online communities to create buzz, which can lead to increased demand and value. In recent years, meme tokens have gained significant attention and investment, making them a fascinating and exciting aspect of the cryptocurrency world.
As a fun little learning project I created the LUVU token. What better way is there to create a vibe of love and peace. That’s the value proposition of LUVU. If it ever takes off 15% of the tokens are allocated to charitable contributions. The LUVU graphic above was created using CraiyonV3 — Free online AI image generator from text.
When working with the bitcoin blockchain, you need patience. The frenzy of activity with BRC20 has slowed the blockchain to a crawl. What normally takes 10 minutes takes hours or days. You can bump up your gas fees but that can get expensive. Transaction confirmation times improves on weekends. In the future we may see some layer 2 solutions. (update — transaction times have improved since I wrote this article)
So the first step is to inscribe a deploy transaction for the token. unisat.io has all the tools and a browser based BRC20 wallet you can download. When you set it up choose a taproot address. This type of address supports ordinals and inscribing. Domo the creator of BRC20 has a How To Guide at https://domo-2.gitbook.io/brc-20-experiment/ that was helpful.
Before you deploy use the search function at unisat.io to make sure your token tick has not already been deployed. The system allows duplicates but other functions like mint and transfer may not work.
After deploying successfully you can mint based on the parameters set in the deploy. I minted my entire supply. Some of the early tokens like ORDI had a mint limit of 1000 and allowed anyone to mint. In hindsight this was a great way to get the community involved. I’ll provide a link at the bottom where you can get LUVU for just the cost of producing it (our transaction fees).
Minting is one transaction. After minting you need to inscribe a transfer of some number of your tokens to your unisat wallet address. I transfered all of them. Next I inscribed a transfer for an amount to sell. Now you are ready to sell on https://ordinalswallet.com/ . Create a wallet there and send your sell transfer inscription to it. Now you can list it for sale. Or you can fund your ordinalswallet.com wallet and buy whatever tokens you like.
When I first looked at the BRC20 space I didn’t expect it to take off but now DEX’s are popping up and centralized exchanges will jump in at some point. Definitely a fast developing space and I’ll update soon about the ALEX BRC20 DEX in development.
Here’s the link to the Official LUVU website https://luvu.site/ where you can get LUVU.
If you liked this article and wish to support my work, send BTC tips to
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Disclaimer — BRC20 tokens are experimental and may not have value in the future. Do your own research.
