β³Coming Soon π
Supporting an Official Unicode Emoji Collection as BRC-20 tokens plus all other original emojis inscribed on βΏitcoin π
π Welcome to EmojiTrade π
EmojiTrade envisions a community of emoji lovers to claim, own, sell, trade and tip tokenized emojis on the Bitcoin blockchain using Ordinal Theory and the .emoji namespace inscriptions plus the $EMJI BRC-20 token.Β There is also a new $EMOJI token on the Tap Protocol that will likely be used as a reward token (see below).Here we will present the vision in detail and provide tooling to make this ecosystem function properly. Read more about EmojiTrade vision here.
The $EMJI BRC-20 Token and .emoji Namespace
$EMJI is a unique token representing a dedicated collection supporting all current and future emojis released by the Unicode Consortium with unique token supply amounts per emoji.The total $EMJI token supply is 21,000,000 with 0 decimal set.All tokens were "pre-minted" and to get $EMJI tokens with the emojis you want, you first need to inscribe a claim as <emoji>.emoji such as:π.emoji
πΈ.emoji
etc.Only a single emoji is allowed.Each claim using the .emoji namespace will be verified on a first-is-first basis as is common for Ordinals meta-protocol projects.This emoji claim inscription can itself be sold and traded/swapped as any Ordinal inscription but to redeem $EMJI tokens representing the claimed emojis, you must send the emoji claim inscription to the $EMJI deployment address.Once received and confirmed as the valid emoji claim, you will be sent a supply of emoji tokens for that specific emoji according to a per-emoji mathematical formula entirely based on that specific emoji unicode metadata (code point, order #, group/subgroup # etc).FormulaTS: Token Supply
DV: Decimal Value of Unicode Code Point
O: Order
G: Group
SG: Sub-group
The EMOJI Release Process
In order to prevent 1 or a small amount of initial holders of all 3664 emojis, claims are only valid for a limited batch of emojis released over time.Emojis are released for claiming when the BRC-20 transfer op transactions are broadcast at the $EMJI deployment address in a batch tx. These 5 inscriptions are formatted like this example:{"p":"brc-20","op":"transfer","tick":"EMJI","amt":"128512", "emoji":"π"}
{"p":"brc-20","op":"transfer","tick":"EMJI","amt":"64257", "emoji":"π"}
{"p":"brc-20","op":"transfer","tick":"EMJI","amt":"15725", "emoji":"π€"}
{"p":"brc-20","op":"transfer","tick":"EMJI","amt":"1129742", "emoji":"π΄σ §σ ’σ ·σ ¬σ ³σ Ώ"}
{"p":"brc-20","op":"transfer","tick":"EMJI","amt":"12503", "emoji":"π₯"}As soon as these inscription transactions hit the Bitcoin mempool and are effectively known to the public, claim inscriptions are valid attempts and first is first to get into a block is the settled valid emoji claim.5 emojis will be released in this manner each time. There is not a specific schedule and there will not be announcements beyond the actual $EMJI transfer transaction that includes the emoji being released.There will also be a batch of 5 $EMJI burn transactions correlated to each emoji's supply.We will have proper tooling in place prior to the first emoji release to handle indexing, tracking and monitoring for all to access and use to have a fair chance of claiming these Bitcoin emojis.
$EMJI is Deflationary βοΈβοΈ
Every claimed emoji, once redeemed for $EMJI tokens, results in the burn of the same amount of $EMJI tokens.For example, the π emoji has a supply of 128,512 $EMJI tokens.Β As these 128,512 π $EMJI tokens are redeemed, 128,512 EMPTY $EMJI tokens are burned.Here is how supply for π is derived:β’ Unicode Code Point for π is U+1F600
β’ In decimal, this is 128512
β’ Display Order is 1
β’ Emoji Group/Block is 0
β’ Emoji Subgroup/Sub-Block is 0If the group number is 0, we set it to 1 to avoid division by zero errors.Formula:π $EMJI Token Supply = (128512 / 1) * (1 + 0) = 128512128,512 EMPTY $EMJI tokens would be burned and 128,512 EMOJI $EMJI tokens would be redeemed.Here is another example using πΈβ’ Unicode Code Point for πΈ is U+1F438.
β’ Converting this to decimal, it is 128056
β’ Display Order is 3278
β’ Emoji Group/Block is 30
β’ Emoji Subgroup/Sub-Block is 36Formula:πΈ $EMJI Token Supply = (128056 / 3278) * (3 + 36) = 15231,523 EMPTY $EMJI tokens would be burned and 1,523 EMOJI $EMJI tokens would be redeemed.π₯Total Token Supply Breakdownπ₯If all current emojis are claimed and redeemed for tokens, the total amount of $EMJI tokens used would be approximately 8,246,467 (this is the total token supply for all current emojis).When an emoji is redeemed for tokens, an equivalent amount of empty $EMJI tokens are burned. So, if all emojis are claimed and redeemed, another 8,246,467 empty $EMJI tokens would be burned.So, the total amount of $EMJI tokens used (including burned tokens) would be 8,246,467 (for emoji tokens) + 8,246,467 (burned tokens) = 16,492,934.Subtracting this from the total supply:21,000,000 (total supply) - 16,492,934 (used and burned tokens) = 4,507,066.So, there would be approximately 4,507,066 EMPTY $EMJI tokens remaining after all current emojis are claimed and redeemed. These can be used for emojis released in upcoming years.
$EMJI Token Redemption π«΄π€
Redeeming your emoji $EMJI tokens leverages the BRC-20 Transfer Operation. As stated above, you need to send your <emoji>.emoji claim inscription to the $EMJI BRC-20 deployment address.π€.emoji at bc1987...
sent to β¬οΈ
bc1pzd79v35x5zd9l7jttmxajjwxwk8xks3z27p85x3r0my7v5qwvx4q8ncew3The transfer op transactions will include an extra Key/Value pair named "emoji" and the emoji as the value. These BRC-20 transfer operation inscriptions are sent to your bitcoin address (where you sent the .emoji claim from).{"p":"brc-20","op":"transfer","tick":"EMJI","amt":"15725", "emoji":"π€"}
sent to β¬οΈ
bc1987...The burning of EMPTY $EMJI tokens will simultaneously be sent to a π₯burnπ₯ address. The BRC-20 transfer JSON for the burns will look like this:{"p":"brc-20","op":"transfer","tick":"EMJI","amt":"15725","π₯":"π€","txid":"<emji_claim_txid>"}
sent to β¬οΈ
1BitcoinEmojiBurnAddress69jiA...Beyond the use of the BRC-20 Protocol, there are various EMOJI specific protocols proposed and you can read more about these on the EMOJI:PROTOCOL page.
$EMOJI Tap Protocol Token for $EMJI Tip Rewards
A new Bitcoin token meta-protocol was just launched called Tap by Trac Network.https://github.com/BennyTheDev/tap-protocol-specsWe are working with Trac as a partner providing EmojiTrade tooling.The $EMOJI Tap token was deployed and pre-minted for possible use as a reward token earned by sending $EMJI emoji "tips".The mechanism to do this still needs to be worked on and thought through to avoid abuse and provide a balanced incentive model.The initial idea to give the $EMOJI token purpose is to use it as currency for buying new custom emoji art as Ordinal inscriptions (actual images, not unicode standard). If you are an artist interested in this idea and would like to contribute art, please get in touch with us. π§‘
π About EmojiTrade
EmojiTrade is a unique project that tokenizes emojis on the Bitcoin network using the BRC-20 standard. The project introduces $EMJI tokens where each emoji has a unique sub-supply of $EMJI tokens. The total supply of each emoji $EMJI token is determined by a formula based on the emoji's Unicode code point, display order, and its group and subgroup numbers (as per the Unicode Consortium Standards). π€For more information on the Unicode Consortium that standardizes emojis, visit their website here:https://www.unicode.org/emoji/techindex.htmlhttps://home.unicode.org/emoji/about-emojiWhen new emojis are officially released by the Unicode Consortium each year, the corresponding $EMJI tokens are "minted" and held by EmojiTrade at the $EMJI deployment address. π¦Users can claim these tokens by inscribing the emoji on the Bitcoin blockchain using the .emoji namespace. Once the inscription is confirmed and validated, the user can redeem the inscription for the corresponding $EMJI token supply. To maintain a balanced token supply, an equivalent amount of "empty" $EMJI tokens are burned during each redemption. π₯After all current emojis are claimed and redeemed, there will be a surplus of empty $EMJI tokens. These tokens can be used for future released emoji redemptions or may be sold as empty $EMJI tokens. If sold (or airdropped), other users can use these empty tokens to mint emojis to them on behalf of those who were first to claim the emoji. This introduces a dynamic to the EmojiTrade ecosystem, as users can choose to keep empty, trade, or use their empty $EMJI tokens to possibly redeem (if their own claim was validated as first) new emojis released by the Unicode Consortium each year. π€·EmojiTrade also introduces innovative use cases for $EMJI tokens. They can be used as a form of social gesture or tip that is sent and added to other inscriptions. A protocol will be developed to track emojis sent to addresses and target specific inscription transaction IDs. This would create a new form of social interaction on Bitcoin, where users can send and receive emoji tokens as a form of communication or appreciation. Interfaces can detect the presence of these emojis and display them alongside the inscription content (i.e. art) in similar way that we are accustomed to in Discord and other apps. π§‘Furthermore, EmojiTrade encourages users to create unique combinations of emojis and turn them into new tradable assets. Users can select emojis from their $EMJI holdings, inscribe the combination on the Bitcoin blockchain, and burn the equivalent number of $EMJI tokens correlated to these emojis. This creates a new asset representing the emoji combo, which can be traded or sold as a single unit. This adds another layer of utility and value to the $EMJI ecosystem, as users can create and trade unique combinations of emojis. πΈπ½π»EmojiTrade is an interesting project that leverages the power of Bitcoin Ordinals, the BRC-20 meta-protocol and the universal appeal of emojis to create a diverse and dynamic token ecosystem. π€― π«‘
π«‘ EMOJI Protocols
The following protocols are designed to enable standards around the use of Bitcoin Emojis within the ecosystem.The first protocol is focused on the familiar use of emojis as reactions and tipping/payments that tokenized emojis can be used for.Currently there exists two project tokens. One is the $EMJI BRC-20 token and the other is $EMOJI TAP token. This will be clarified soon as to which token will be used or how they both might be used together.
EMOJI TIPs & TAPs
TIPs and TAPs are two forms of reacting to content using Bitcoin Emojis. A TIP is sending an $EMJI token to another address with a specified inscription ID and a TAP is a self-spend transaction (inscription/tx sent to same address it is sent from) referencing another inscription ID.TIPs are an exchange of actual value + social value while TAPs are an exchange of social value only.TAPs can only use emojis that you own at the time of the transaction, despite no tokens actually being sent.To send an $EMJI TIP using BRC-20 Protocol:{"p":"brc-20","op":"transfer","tick":"EMJI","amt":"1","emoji":"π₯"',"msg":"This is fire!","iid":"<inscription_id>"As you can see, a TIP is a BRC-20 transfer with extra EMJI standard fields to include the emoji, message and inscription ID that is being referenced.To send an EMOJI TAP:EMOJI:TAP:<emoji>|<message>|<inscription_id>EMOJI:TAP:π₯|This is fire|<inscription_id>As you can see, since no token is being sent with a TAP, the inscription transaction is a simple string with separators. The tap sender must own the emoji tokens being used in the tap or it is invalid.Indexers, wallets and other frontend UIs can detect both EMOJI TIPs and TAPs and display the emojis accordingly alongside the inscribed content that was targeted.There should be visual differences in UIs that show a TIP differently than a TAP.
EMOJI:COMBO
The EMOJI:COMBO protocol supports the combination of multiple emojis that are owned as EMOJI $EMJI tokens to create a new single asset. This protocol supports up to 5 emojis per combo.EMOJI:COMBO:<emoji_1><emoji_2><emoji_3>|<name>EMOJI:COMBO:π§βοΈπ«‘|Bitcoin MaxiEach combo is unique 1 of 1 and First is First validation is used.One corresponding $EMJI token for each emoji used must be burned to make a combo valid.