MetaMask Smart Accounts and ERC777 Tokens: Compatibility Guide
MetaMask Smart Accounts and ERC777 Tokens: Compatibility Guide
🦊 MetaMask's Token Troubles
MetaMask Smart Accounts currently face compatibility issues with ERC777 tokens due to missing tokensReceived hook implementation. While the send() function fails, users can still perform basic transactions using the ERC20-compatible transfer() function.
Key points:
- Basic transfers work via ERC20 transfer() function
- DEX trading remains functional
- Advanced operations like bridging require EOA wallets
The limitation affects specific tokens like FLUX, particularly for Layer 2 bridging and minting operations. Users should use traditional EOA wallets for these advanced functions until future wallet updates address this compatibility gap.
Seeing errors with ERC777 tokens on your new MetaMask Smart Account? 🦊🤔 Your smart wallet is missing a special hook for ERC777's send() function. The Solution: Use the ERC20-compatible transfer() function instead! It acts as a bridge 🌉 and works perfectly. ✅
DAM Token Shows Unusual Market Dynamics with Low Liquidity
The $DAM token is displaying unusual on-chain metrics that challenge typical market expectations. **Key Metrics:** - Market cap: ~$1,000,000 - Liquidity: ~$26,000 - Whale holdings: ~30% of supply - Supply locked: 78% (minting $FLUX) **Notable Finding:** LP fees (1%) are currently outperforming the 3% staking APY, suggesting active trading despite limited liquidity. The combination of low liquidity and high demand creates significant volatility opportunities for traders. This situation particularly affects $FLUX and $LOCK token holders. [Watch full breakdown](https://youtu.be/1AYtKF6Xg4Q)
Single Bot Dominates Datamine Ecosystem Game Rewards
**On-chain data reveals a single bot is capturing nearly 100% of rewards** in Datamine Network's ecosystem game, exposing a challenge for the community to address. **Key metrics from 5 years of DeFi operations:** - $FLUX inflation currently at 40% - $49,000 in decentralized liquidity split across the ecosystem - Holding LP tokens for $LOCK may outperform holding the token directly due to 1% swap fees **Recent achievements:** - $LOCK inflation dropped from 700% to 100% in one year through automated on-chain mechanisms - 96% of $LOCK supply locked in liquidity pools, with only 4% circulating - Over $100k in Ethereum-backed liquidity The data is publicly available for verification. [Watch the breakdown](https://youtu.be/4Y6f96iuxI4)
DeFi Project Tackles 5 Years of Technical Debt Using AI Assistance
A DeFi project successfully migrated 89 unit tests to Hardhat v3 and addressed years of smart contract technical debt using AI assistance during recent market volatility. **Key developments:** - Completed major technical upgrade while ETH dropped 30% - AI tools helped accelerate development process significantly - Migrated entire test suite to new framework **Technical focus:** - Doubling down on ERC777 token standard for $FLUX and $LOCK - ERC777 enables single-transaction hooks unavailable in standard ERC20 - Allows for immutable decentralization with zero admin keys **Project stability:** - Maintains over $100,000 in ETH-backed liquidity - Focus on long-term building despite market conditions - [Technical update video](https://youtu.be/bTmzBa9iNNw) available The project emphasizes building for the decade rather than short-term market movements.
Datamine Network Completes Hardhat v3 Migration While Defending ERC777 Token Standard
**Datamine Network** successfully migrated their smart contract testing suite to **Hardhat v3**, requiring upgrades to Node.js 22, ESM modules, and ESLint v9 flat config. Despite industry abandonment, they're **defending ERC777** over ERC20 for its superior user experience: - **Single-transaction interactions** via hooks (tokensToSend/tokensReceived) - **No approve-then-transfer** friction - users send tokens directly to contracts - Powers their **Lockquidity mechanism** where users lock DAM tokens to mint FLUX in one action **Key challenges solved:** - Built custom Hardhat plugin for ERC1820 Registry deployment - Implemented rigorous **re-entrancy attack testing** to prove security - Used proper mutexes and checks-effects-interactions patterns **Why ERC777 was abandoned:** OpenZeppelin removed support due to complexity and re-entrancy risks. However, Datamine argues the industry gave up too quickly on a powerful standard. The migration resulted in a **faster, cleaner, future-proof codebase** while maintaining advanced token functionality that ERC20 cannot match. [Learn more about Datamine Network](https://datamine.network/)
Datamine Network Introduces Yield Function - Money That Generates Its Own Returns
**The Problem: Money Is Static** Traditional money fails as a store of value due to inflation. A $100 basket of goods from 2000 now costs $192, with current inflation at 3.0% annually. This forces people into risky yield-seeking through banks, stocks, or protocols. **The Solution: Built-in Yield Function** Datamine Network introduces the **Yield Function** - a fourth monetary function that transforms static assets into perpetual generators of future supply. **How It Works:** - Open market generates new token supply over time - Users can "burn" existing tokens (irreversible conversion) - Burning grants permanent proportional share of all future tokens **Key Features:** - Mathematical certainty built into code - No third-party risk - Transparent, decentralized yield market - 95% of LOCK value locked in permanent ETH-backed liquidity After 5 years of development, this system demonstrates how money can evolve to generate yield itself, eliminating dependence on banks or brokers. [Explore the ecosystem](https://datamine.network)