曾经站在这个牛市的起点的铭文即将恢复？

在最近的整个市场表现不佳，替代币市场糟糕的情况下，Meme的毫无生气的“垃圾市场”，新的铭文协议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.

在最近的广阔市场表现，较短的山寨币活动以及围绕Meme的“垃圾市场”逐渐减少的炒作的情况下，出现了新的铭文协议，引起了加密货币社区的关注。

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后起之秀超级流动连锁连锁店现在总共拥有BRC-20“卡车”令牌面具，它需要210万枚薄荷糖（每种令牌10个），并引起了兴趣。

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，令牌将比特币网络气体驱动到14 satoshis/byte，使其成为近几个月来造币的少数几个“铭文卡车”之一，并吸引了10,000多个地址。 （Odaily注意：铭文卡车是指需要过多的铸造时间，消耗大量资金和时间的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.

同时，超液体L1在2月21日的5:00看到了其第一个HRC-20代币Hypi的铸造。由于总供应量为2100万个令牌，Hypi在5小时内完全铸造出来。

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.

官方竞标超流动现货交易配额，成本为109,154.01美元，并于今天早上5:00推出交易，并在超流利的现货交易市场上介绍了相应的包装资产Whypi。

Inscription revival or a reappearance?

铭文复兴还是重新出现？

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

短期FOMO情绪的快速增长通常会对所涉及的人们产生幻想。

MASK's popularity is fleeting

面具的受欢迎程度是短暂的

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代币面具于2023年3月10日部署。尽管BRC-20铭文高高，但面具仍然没有启发，导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.

那么，为什么这个“古老的遗物”突然闻名呢？在社区中，有两个猜测正在流传。

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.

有人建议面具是“矿工阴谋”，矿工正在铸造大量面具，以产生链子繁荣的幻想，最终驱使玩家到达FOMO并产生更高的比特币费用。

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.

另一种理论提出，面具是一种新的“铭文促销”，利用“神秘的东方力量”。无论真实本质如何，只要它可以引入持续的交通和对铭文的关注，它就会实现积极的目的。

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的铸造进度达到了70％，其OKX铭文市场的单价为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，人们对2月24日完全铸造面具的期望很高，由于社区情绪，面具将进一步提高其价格。但是，面具的热情比预期的要快。

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），其进度仅上升到88％，单价下降到0.1美元。回去，价格已经在2月23日达到顶峰。

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.

也许面具最终将被铸造出来，但其最终命运可能会反映出铭文卡车Eorb的命运，该铭文卡车的副本也有210万份，并逐渐淡出了默默无闻。

Lackluster performance of HRC-20

HRC-20的表现不足

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

HRC-20是由铭文协议HPS协议在Hyperliquid L1上启动的同质令牌标准。

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协议引入了超流动L1和HypereVM上的超级列表的概念。 HYPI是第一个正式签发的HRC-20代币，目前唯一的一个，有2231个持有地址。

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协议平台的几乎所有功能都不可用，这使用户无法独立部署和传输HRC-20代币。

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

因此，为了促进快速交易，HPS协议最初选择在超流利的现货交易市场上列出Hypi包裹的资产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.

贸易开始后，Holding Hypi的地址将获得1：1 Whypi Airdrop。一旦官方HRC-20市场推出，用户可以将Whypi直接兑换为Hypi，将Hypi和Whypi的总发行量保持在2100万。

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.

单次催化（每张100件）的造币成本为$ 2-3。在推出超流动现货市场之前，该社区的非处方市场中最高的双层交易价格达到每张床单25美元，估计的市场价值为525万美元，约为薄荷成本的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.

我曾预计，作为超流动链上的第一个铭文，Hypi在超流利现场市场引入后会经历一些增长。

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，就像面具一样，Whypi在推出后开始下降。在撰写本文时，其价格为0.024美元（每张2.4），对应于