The MXC Blog

Inscriptions have recently taken the crypto world by storm, however, for some in the crypto world the word “inscription” is met with uncertainty and questions as to whether it’s simply another crypto buzzword. Or, is it truly the solution to reducing gas and boosting gains for everyone? 

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We cut through the jargon and give you the HOW, WHY, and WHAT you need to know about inscription.  

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What is Inscription?

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Put simply, inscription is the process of attaching additional or different but “less” data to a token. In the case of MXC, we are attaching hexagon data (geographical location) to the token. This allows for a reduction of the overall gas fee. Why? Gas fees are measured on certain predetermined data, and this data is measured on its size, the more the data the package uses, the higher the gas fee. By using inscriptions the data is packaged in a way that makes the overall claim (or “gas”) appear to be significantly less. 

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But that’s not all . . .

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With the introduction of inscription, there is also the possibility to mint or trade this data or “inscription” as an inscription token. In this essence, all AXS users who have connected their MetaMask wallet to AXS can both mint and trade these inscription tokens. 

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Why? 

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Inscriptions are ways of passing data, this data has a value and allows for users to trade these inscription tokens and that’s where the value is. 

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Why MXC Inscriptions will change the game! 

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Thanks to the technical advancements of the M2 Pro and NEO miners, MXC is the first-ever project to inscribe location data on-chain to the token. This opens a new frontier for Web3 projects to better understand, connect, and target their token holders. 

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Imagine unlocking the power to target NFT or token holders based on their geographical locations. MXC Inscriptions pave the way for precise targeting and data-driven strategies!

As we bridge more off-chain data to the on-chain world; this is all part of our dedication to taking the real world to the metaverse.

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Where to explore inscriptions

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Visit our site below, you will need to connect your MetaMask wallet in order to view and increase functionality, as well as see the guide:

https://depinscriptions.mxc.com/

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How to get involved / How to mint

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Getting involved is extremely simple, just follow the steps below: 

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1. Go to https://depinscriptions.mxc.com/
2. Go to “token”
3. Select any geographical tokens that are not fully minted out (fully minted out would be shown with 100% progress bar)
4. Click “Mint Directly”
5. Allow permissions and confirm the on-chain transaction
6. Wait for indexing to be completed
7. Once indexing has been successfully concluded, click on “Confirm”

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How to view

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1. Go to https://depinscriptions.mxc.com/
2. Go to “Wallet”
3. All minted tokens by the wallet is shown

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How to Buy

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1. Go to https://depinscriptions.mxc.com/
2. Go to “Marketplace”
3. Any listed inscription tokens will be shown there
4. Select the token you wish to buy, and click on “Buy”
5. Confirm on-chain messages and transaction
6. If you do not have sufficient balance in MXC, the on-chain message will not pop up

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How to sell

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To list your inscription you need to follow these steps:

1. Go to: https://depinscriptions.mxc.com/market
2. Go to "Marketplace" 
3. Click the inscription token you wish to sell, e.g. GBR
4. On the top right corner Click on “List”
5. Input price/mint and amount you wish to list 
6. Sign the tx - done

Please note that inscriptions are only tradable once the total minted amount reaches 100%.

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Is minting geographically limited?

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No, anyone can mint any token at any location. The location proof is only needed as it inscribes the minter’s geographical location data to the token. This means that a user based in Germany could buy a China inscription token and vice versa

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Is there any geographical limit to trading?

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No, there is no geographical limit to trading or minting.

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If you have any further questions about MXC Inscriptions and you want to get involved, feel free to ask our team on our socials: Discord or Telegram, we look forward to welcoming all MXC supporters to the world of inscriptions!