šŸ“–pSPL-20 Theory

After a careful analysis of the evolution of SPL-20 inscriptions, we have identified some issues that are inconsistent with the real narrative and their practical use.

This project is intended to address narrative issues.

SPL-20 Inscriptions Limitations

The minting method for the recent ones is incorrect and outdated. This method might have been valid for use with the Libreplex standard, but it is unnecessary on Metaplex.

  1. There are indexing problems; even today, some NFTs do not become part of the collection despite falling within the correct time and mint number.

  2. The update authority (UA) belongs to those who created the NFTs, allowing some to change images and making the whole process unprofessional.

  3. The collection will never have any utility and is unsustainable over time as it does not generate anything but instead wastes resources.

  4. Any attempt to tokenize it will be futile; the token will have no value as the project cannot create a liquidity pool for that token.

  5. All inscriptions in the collection available on the market are "NonFungible" standards, meaning they are unique, like all our common NFTs.

How can a collection that should represent a supply of tokens be composed of unique pieces?

However, there is a solution to all these problems, the creation of a new standard called pSPL-20.

We cannot change the name SPL-20 because it refers to fungible tokens on Solana .Adding the term SPL-20 to an NFT implies that it can also exist as a fungible token.

Why RHO (Ļ)?

We came up with this name due to the similarity of his symbol with the letter ā€œpā€ that precedes the standard of the NFT.

Currently available token standards in Metaplex:

NonFungible = 0
FungibleAsset = 1
Fungible = 2
NonFungibleEdition = 3
ProgrammableNonFungible = 4
ProgrammableNonFungibleEdition = 5

If you look in the NFT metadata under the "tokenstandard" entry, that number corresponds to the list above.

We have chosen the number 5 "ProgrammableNonFungibleEdition" for RHO.

ProgrammableNonFungibleEdition details

Currently, it's not possible to create number 5 in a NoCode way with the creator studio or other tools. So they have not found much success and/or widespread use with current methods. However, those familiar with coding can easily create a mint with this standard.

Advantages of a ProgrammableNonFungibleEdition collection for pSPL-20

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