曾經站在這個牛市的起點的銘文即將恢復？

在最近的整個市場表現不佳，替代幣市場糟糕的情況下，Meme的毫無生氣的“垃圾市場”，新的銘文協議HRC-20

Amid the recent lackluster performance of the broader market, sluggish altcoin activity, and the dwindling hype surrounding Meme's "junk market," a new inscription protocol has emerged, capturing the attention of the crypto community.

在最近的廣闊市場表現，較短的山寨幣活動以及圍繞Meme的“垃圾市場”逐漸減少的炒作的情況下，出現了新的銘文協議，引起了加密貨幣社區的關注。

The BRC-20 and L1 rising star Hyperliquid chain now hosts a total of BRC-20 "truck" token MASK, which requires 2.1 million mints (10 per token) and has sparked interest.

BRC-20和L1後起之秀超級流動連鎖連鎖店現在總共擁有BRC-20“卡車”令牌面具，它需要210萬枚薄荷糖（每種令牌10個），並引起了興趣。

On the evening of February 23, the token drove up the Bitcoin network gas to 14 satoshis/byte, making it one of the few "inscription trucks" that have shown promise for minting in recent months and attracted over 10,000 addresses. (Odaily Note: Inscription trucks refer to BRC20 tokens that require excessive minting times, consuming significant funds and time.)

在2月23日晚上，令牌將比特幣網絡氣體驅動到14 satoshis/byte，使其成為近幾個月來造幣的少數幾個“銘文卡車”之一，並吸引了10,000多個地址。 （Odaily注意：銘文卡車是指需要過多的鑄造時間，消耗大量資金和時間的BRC20令牌。）

Meanwhile, Hyperliquid L1 saw the minting of its first HRC-20 token, HYPI, at 5:00 on February 21. With a total supply of 21 million tokens, HYPI was fully minted within 5 hours.

同時，超液體L1在2月21日的5:00看到了其第一個HRC-20代幣Hypi的鑄造。由於總供應量為2100萬個令牌，Hypi在5小時內完全鑄造出來。

The official bid for the Hyperliquid spot trading quota at a cost of $109,154.01 and launched trading at 5:00 this morning, introducing the corresponding packaged asset wHYPI on the Hyperliquid spot trading market.

官方競標超流動現貨交易配額，成本為109,154.01美元，並於今天早上5:00推出交易，並在超流利的現貨交易市場上介紹了相應的包裝資產Whypi。

Inscription revival or a reappearance?

銘文復興還是重新出現？

The rapid growth of short-term FOMO sentiment often creates illusions for those involved.

短期FOMO情緒的快速增長通常會對所涉及的人們產生幻想。

MASK's popularity is fleeting

面具的受歡迎程度是短暫的

BRC-20 token MASK was deployed on March 10, 2023. Despite the height of BRC-20 inscription, MASK remained unminted, leading some players to be trapped at the highest minting rate of 30 satoshis/byte last year.

BRC-20代幣面具於2023年3月10日部署。儘管BRC-20銘文高高，但面具仍然沒有啟發，導致一些玩家被困在去年30 Satoshis/Byte的最高薄荷率。

So, why is this "old relic" suddenly experiencing a surge in popularity? Within the community, two speculations are circulating.

那麼，為什麼這個“古老的遺物”突然聞名呢？在社區中，有兩個猜測正在流傳。

One suggests that MASK is a "miner conspiracy," where miners are minting a large quantity of MASKs to create an illusion of on-chain prosperity, ultimately driving players to FOMO and generating higher Bitcoin fees.

有人建議面具是“礦工陰謀”，礦工正在鑄造大量面具，以產生鍊子繁榮的幻想，最終驅使玩家到達FOMO並產生更高的比特幣費用。

The other theory proposes that MASK is a new "inscription promotion," leveraging the "mysterious oriental power." Regardless of the true nature, as long as it can introduce sustained traffic and attention to inscription, it serves a positive purpose.

另一種理論提出，面具是一種新的“銘文促銷”，利用“神秘的東方力量”。無論真實本質如何，只要它可以引入持續的交通和對銘文的關注，它就會實現積極的目的。

On February 23, MASK's minting progress reached 70%, and its unit price on the OKX inscription market stood at $0.3.

2月23日，Mask的鑄造進度達到了70％，其OKX銘文市場的單價為0.3美元。

Initially, expectations were high that MASK would be fully minted on February 24, further driving up its price due to community sentiment. However, MASK enthusiasm dissipated faster than anticipated.

最初，人們對2月24日完全鑄造面具的期望很高，由於社區情緒，面具將進一步提高其價格。但是，面具的熱情比預期的要快。

As of today (February 25), its progress has only advanced to 88%, and the unit price has dropped to $0.1.振り返ってみると、2月23日の価格がすでにピークだった。

截至今天（2月25日），其進度僅上升到88％，單價下降到0.1美元。回去，價格已經在2月23日達到頂峰。

Perhaps MASK will eventually be minted, but its final fate will likely mirror that of the inscription truck eorb, which also had 2.1 million copies and gradually faded into obscurity.

也許面具最終將被鑄造出來，但其最終命運可能會反映出銘文卡車Eorb的命運，該銘文卡車的副本也有210萬份，並逐漸淡出了默默無聞。

Lackluster performance of HRC-20

HRC-20的表現不足

HRC-20 is a homogeneous token standard launched by the inscription protocol HPS Protocol on Hyperliquid L1.

HRC-20是由銘文協議HPS協議在Hyperliquid L1上啟動的同質令牌標準。

HPS Protocol has introduced the concept of Hyperscriptions on Hyperliquid L1 and HyperEVM. HYPI is the first officially issued HRC-20 token and currently the only one, with 2231 holding addresses.

HPS協議引入了超流動L1和HypereVM上的超級列表的概念。 HYPI是第一個正式簽發的HRC-20代幣，目前唯一的一個具有2231個持有地址。

At present, almost all functions of the HPS Protocol platform are unavailable, rendering users incapable of deploying and transferring HRC-20 tokens independently.

目前，HPS協議平台的幾乎所有功能都不可用，這使用戶無法獨立部署和傳輸HRC-20代幣。

Therefore, to facilitate rapid trading, HPS Protocol opted to initially list HYPI's wrapped asset wHYPI on the Hyperliquid spot trading market.

因此，為了促進快速交易，HPS協議最初選擇在超流利的現貨交易市場上列出Hypi包裹的資產Whypi。

Upon the commencement of trading, addresses holding HYPI will receive a 1:1 wHYPI airdrop. Once the official HRC-20 market launches, users can directly redeem wHYPI for HYPI, maintaining the total circulation of HYPI and wHYPI at 21 million.

貿易開始後，Holding Hypi的地址將獲得1：1 Whypi Airdrop。一旦官方HRC-20市場推出，用戶可以將Whypi直接兌換為Hypi，將Hypi和Whypi的總發行量保持在2100萬。

A single HYPI (100 pieces per sheet) incurs a minting cost of $2-3. Prior to its launch on the Hyperliquid spot market, the highest double-pledge transaction price in the community's over-the-counter market reached $25 per sheet, yielding an estimated market value of $5.25 million, roughly 10 times the minting cost.

單次催化（每張100件）的造幣成本為$ 2-3。在推出超流動現貨市場之前，該社區的非處方市場中最高的雙層交易價格達到每張床單25美元，估計的市場價值為525萬美元，約為薄荷成本的10倍。

I had anticipated that HYPI, as the first inscription on the Hyperliquid chain, would experience some growth after being introduced on the Hyperliquid spot market.

我曾預計，作為超流動鏈上的第一個銘文，Hypi在超流利現場市場引入後會經歷一些增長。

However, much like MASK, wHYPI began to decline following its launch. At the time of writing, its price stands at $0.024 (2.4 per piece), corresponding to

但是，就像面具一樣，Whypi在推出後開始下降。在撰寫本文時，其價格為0.024美元（每張2.4），對應於