php Editor Banana will give you a detailed explanation of Ouyi BRC-20 trading & engraving FAQs. Ouyi BRC-20 is a digital asset based on blockchain technology. Some common problems may be encountered during its transaction and inscription process. This article will analyze and answer these questions to help readers better understand the transaction and engraving process of Ouyi BRC-20 and resolve any doubts and confusions they may encounter.
Click [Market]-[Ordinals]-[Engraving], and on the BTC general engraving page, you can engrave BRC-20, pictures or text. Select [BRC-20], select [Minting] for [Type], and enter the four-digit token code, which is the [currency] you want to engrave, such as csas. Fill in the casting [Quantity], [Number of Repetitions] and [Receiving Address] - [Confirm].
After the engraved BRC-20, you can click [Currency Management] on the homepage, enter the BRC-20 token name, click the add button [ ], return to the homepage, and in the currency, you can see Inscribed BRC-20 token and quantity.
Inscribing and trading BRC-20 requires the BTC network for block confirmation. Due to the recent frequent transactions on the BTC chain, the BTC network is congested and the confirmation time is long and may take 1-2 days. If your engraving shows that it is being confirmed, you can check the progress on Mempool. It is recommended that you wait patiently for block confirmation.
1) Insufficient fuel fee is one of the most common reasons for failure in the casting process of BRC-20 inscription.
2) Network congestion. Congestion in the BTC network may also cause minting failure.
3) When the engraving progress shows that it is completed, but in fact your transaction is still on the chain waiting for confirmation, this may also lead to eventual failure.
Warm reminder: If you fail to engrave, you may lose the handling fee. The engraving handling fee will be charged by the network and cannot be refunded by the platform.
The Ethereum Inscriptions Protocol Ethscriptions is similar to the Ordinals protocol on Bitcoin. Open [Web3 Wallet] - [Discover] - [Explore DApp] - [Tools] - [Inscription tool], and select the EVM network you want to inscribe, such as Ethereum. If you want to engrave the same content multiple times, please select single text mode; if you want to engrave different content, please select multiple text mode. When entering text, the OKX engraving tool will pre-enter data:, for you, so you don’t need to enter it additionally. After entering the engraving content and completing the wallet connection, click Confirm to start the engraving transaction confirmation. If you make multiple engravings at one time, you need to sign multiple times.
1) Listing inscriptions: In the Web3 wallet, click [Market]-[Ordinals], click on the currency in the BRC-20 list to enter the details page, and select [Publishing Inscriptions]. Before putting it on the shelf, you need to engrave a [Transfer] inscription sats, click [Go to Engrave], enter the number of inscriptions, and sign [Confirm]. When engraving, you need to hold the BRC-20 asset and have BTC as gas fee. Inscription needs to wait for 3 blocks to be confirmed. After waiting for block confirmation, select the inscription, click [Publish Inscription], enter the price and click [Publish].
2) Price reduction and removal of inscriptions: In [My Orders], you can see the inscriptions that have been put on the shelves. Click [Reduction] to adjust the price of the inscriptions. Click [Remove] to move the order from the platform. However, delisting requires payment of network fees. You need to reserve a portion of BTC as Gas. If BTC is insufficient to pay network fees, you need to [Supplement BTC].
On the [Ordinals] page, select the BRC-20 you want to buy in the list and click [Buy]. You can click on the price, select sorting by unit price or total price, and sort by shelf time to quickly filter orders. After confirming the handling fee and price, click [Confirm] to place the order.
During the process of transferring BTC, engraving BRC-20, and purchasing BTC NFT, there may be a problem that the address has sufficient BTC balance, but still prompts that the BTC balance is insufficient. The handling method is as follows:
| Scenario | UTXO types that can be used | Cause of insufficient balance prompt | Operation guide |
|---|---|---|---|
| Transfer | Confirmed UTXO can be used to make change Pending UTXO can be used to unoccupy UTXO can be used |
The transfer amount is too large, exceeded The sum of UTXOs that can be used Currently there are transactions in Pending The balances are all occupied UXTO Extreme scenario: There is data on the available balance, click max to display 0, yes Because there may be a lot of broken UTXO in the balance, you cannot use |
to reduce the transfer amount/replenish BTC Check whether there is a transaction in Pending, and try again after the transaction is completed Release UTXO occupation, but please note: there may be asset losses |
| Inscription BRC20 Staking |
Only confirmed UTXO can be used | Currently There are transactions in Pending The balance is all occupied UXTO |
Add BTC Check whether there are transactions in Pending and try again after the transaction is completed |
| Purchase | Confirmed UTXO can be used To find change pending UTXO Can be used Unoccupied UTXO Can be used |
Transaction total The amount is too large, exceeding the sum of UTXOs that can be used There are currently pending transactions, and the data is updated slowly The balances are all occupied UXTO |
Supplementary BTC |
UTXO is unspent output, which can be simply understood as an asset that has not been used. If you want to release the UTXO occupation, you can click [BTC] - [UTXO] on the homepage, select the occupied UTXO you want to release, and then click [Unoccupy]. You can also select the [One-click release] button to intelligently release UTXO occupation for worthless inscriptions.
After releasing the UTXO occupation, it will be displayed on the released page. If you released the UTXO occupation of a valid inscription due to misoperation, you can select the corresponding inscription in the released and click to restore the occupation. The released UTXO cannot be used for inscription The fee is paid, but it can be consumed as a network fee and does not affect the address of your wallet to be engraved with tokens again.
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