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Facet (Dumb) Contracts

Countdown to Facet mainnet on block 18684900! - https://etherscan.io/block/countdown/18684900 - Estimated Target Date: Thu November, 30 2023 15:04:08

Hirsch writes:

Initially bridging will be limited as we make sure everything is running smoothly. We don't want to just go live with everything at once.

  1. Launch Facet mainnet
  2. Launch bridge for Sunrise holders
  3. Open bridge to public

If everything goes perfectly we will monitor it for 24 hours before opening it to the public.

You will technically be able to bridge over anything on Ethereum. Our official bridge will only support ETH and Eths initially. But anyone can create a bridge. Not just us.

o o o

Hirsch write:

Facet Mainnet has been live for only 12 hours, and here are the stats!

  • TVL (Total Value Locked): $3 million
  • Transactions: 34,676
  • Unique Wallets: 1,923

We've launched an entirely new protocol that allows you to do everything you can on Ethereum, but cheaper. We've also launched a block explorer, a DEX, bridges, and a brand new name service called Facet Cards.

There have been no major issues. Things got slow at points, but we fixed them and made it run faster.

Frequently Asked Questions (F.A.Q.s) and Answers

Q: might be a dumb (lol) question, but does facet include the ability to deploy arbitrary dumb contract bytecode or is it limited to the set of contracts that currently display on the facetscan website?

A:

Based on my latest understanding, there will only be predefined contracts by Middlemarch/Hirsch; however, the idea is for it to be extensible/open in the future and anyone can deploy a dumb contract (just like smart contracts are done today).

Hirsch: Correct! Anyone can deploy from the curated list. But we are making it where eventually anyone can deploy custom contracts.

Middlemarch: This is correct though in the latest version you do deploy contracts by sending the "byte code equivalent" So it would just be a matter of removing the check for "supported contracts" for it to work with any contract

Here is an example of such a tx [inscription] -> https://goerli.etherscan.io/tx/0xcd3beeeb5a2cdf2080b27a2882e77c475c7ad1aca626dfb54e3c9bf817eb806b

data:application/vnd.facet.tx+json;esip6=true,
{"op":"create",
 "data":{"args":
           {"name":"Ether",
            "symbol":"ETH",
            "trustedSmartContract":"0x9d2f33af8610f1b53dd6fce593f76a2b4b402176"},
            "source_code":"pragma(:rubidity, \"1.0.0\")\ncontract(:ERC20, abstract: true)...","init_code_hash":"0x1e1ee21ee8811331d2aef4c19d508223d65ab1a3b35f902c78af6c5d37d26582"}}

Q: Wen Facet on mainnet?

A: Middlemarch writes / posts on Nov, 17th https://twitter.com/dumbnamenumbers/status/1725289872876032457

Exciting Facet Update!

The Facet Virtual Machine is feature-complete, and we are thrilled to announce that it launches on mainnet on block 18684900!

In the meantime:

  • We will launch a release candidate on Goerli.
  • Join our $25k BUG BASH!
  • And more!

Our release candidate represents a substantial improvement over the version of the protocol we have been testing on Goerli.

However, it is not compatible, which means that in order to test the new version, we will need to "reset" everything currently on Goerli.

On Monday morning ET, the VM will transition to the release candidate protocol version. Bridge balances will be airdropped to their owners.

Thank you to our Goerli testers for the amazing feedback! We appreciate your patience as we prepare to test the production protocol.

BUG BASH!

Starting now, if you find a bug that could result in the loss of funds in the Facet VM, a Dumb Contract, or any of our bridge Smart Contracts, you can win up to $25k USDC!

Stay tuned for more details, but start hunting now!

https://github.com/0xFacet/facet-vm/tree/rc1

The Facet thesis: Smart Contracts are unnecessary. Eliminate them and unlock Ethereum's full potential at a fraction of the cost.

Regardless of whether this thesis resonates with you or seems utterly insane, one thing is certain: if it proves to be true, it will spark a Blockchain Revolution.

We will discover the truth in just a few weeks!

Thank you to the Facet community, who has supported our vision from the very beginning!

The Blockchain Revolution commences on November 30...