Introduction to PUPS
PUPS is a meme coin on the Bitcoin blockchain, distinguished by its first successful BRC-20 token airdrop on Bitcoin. It is entirely community-launched, with no affiliations to O.P.I.U.M or Bitcoin Puppets.
As a pure meme coin, PUPS lacks practical utility, a roadmap, or any promises, driven entirely by the community, relying on members to create and share memes. Despite its historic airdrop on Bitcoin, it remains a purely meme-driven coin with no commercial roadmap.
PUPS represents the future of meme culture and digital assets on Bitcoin, demonstrating that a community united by a common, humor-centric vision can spread messages of peace globally.
PUPS Tokenomics
Token abbreviation: PUPS
Blockchain: Bitcoin
Contract address: 316a00025ad8f6e93b88f5c15927b374a07da0cc81a59b6a8369a1d563a8ddc3i0
Max Supply: 7,770,000
What is BRC-20
BRC-20: A New Fungible Token Standard on Bitcoin
The BRC-20 represents an attempt to natively create fungible tokens on Bitcoin, using Bitcoin’s ordinal inscription technology. This token cleverly circumvents Bitcoin’s programming limitations by using ordinal inscriptions to create semi-fungible tokens.
Introduction to Bitcoin Ordinals
First, let’s understand ordinals. Ordinal technology allows data to be inscribed onto each individual satoshi on Bitcoin. Each satoshi is assigned a unique number through a logical ordering system called ordinal theory, and arbitrary data can be inscribed into each satoshi. This data can range from images and videos to audio, text, and even simplified versions of video games like DOOM.
How BRC-20 Tokens Work
BRC-20 tokens function by embedding specific types of text within ordinal inscriptions, providing a set of rules and specifications for token creation and management. For example, the initial BRC-20 tokens contained JSON data defining the token’s name, the limit per mint, and the total maximum supply.
Applications and Prospects of BRC-20 Tokens
While still experimental, BRC-20 tokens have sparked significant interest in the Bitcoin community, with other developers beginning to explore creating their own BRC-20 tokens. Additionally, ordinal infrastructure providers such as wallet services and marketplaces are integrating BRC-20 capabilities, enabling users to mint and trade BRC-20 tokens.
Advantages and Limitations of BRC-20 Tokens
While BRC-20 tokens are considered fungible, they are more accurately described as semi-fungible since they can only be exchanged in set increments. To mint BRC-20 tokens, a user must create a mint JSON NFT specifying the amount to be minted and then compete in a priority gas auction to secure the mint. To trade BRC-20 tokens natively on Bitcoin, sellers must create transfer NFTs to split their original mint NFT into smaller batches for sale.
Furthermore, to determine the BRC-20 balance of a wallet, users must run or trust an off-chain indexer that interprets the inscriptions—simply running a Bitcoin full node is insufficient.
Through such means, the BRC-20 standard demonstrates the power of open-source communities and collaborative development. When a developer introduces a novel concept and makes it open-source, the idea can evolve and gain momentum through the continued efforts of other enthusiasts, occasionally leading to significant advances that push the boundaries of the underlying technology.
Official Links for PUPS
Website: https://www.pupstoken.com/
Twitter：https://twitter.com/PupsToken
Steps to Buy PUPS on LBank
Purchasing PUPS tokens on the cryptocurrency exchange platform LBank is straightforward. Here's a step-by-step guide:
1. Log into your account: Ensure you're registered and logged into your LBank account, then click the "Trade" option in the top menu bar to start the trading process.
2. Search for PUPS: Use the search function within the trading platform to find "PUPS", locate the trading pair, such as PUPS/USDT, and click to enter its dedicated page.
3. Place an order: In the PUPS/USDT trading page's spot trading area, enter the amount of PUPS you wish to buy. If you want to complete the purchase immediately at the current market price, select a market order and then click the "Buy" button.
4. Confirm the order: A confirmation window will pop up. After verifying the order details are correct, confirm to place your order. Once the transaction is successful, the purchased PUPS will automatically be deposited into your LBank spot wallet.