Blocks produce burn
EIP-1559 makes each transaction-bearing Ethereum block destroy ETH. eDMT does not create that burn; it recognizes it as an on-chain event that can be captured.
Ethereum calldata becomes
protocol-defined asset state.
eDMT is a deterministic asset protocol over Ethereum calldata. Transactions record intent; the indexer replays public rules into balances, supply, holders, and event streams.
enat is the first asset, and the live proof of the protocol and indexer.
#25,011,548eDMT
4543950.8671
Turning Ethereum block burn into permissionless mint rights.
Every block creates a new burn event. Historical burn can be discovered for free; post-activation mint targets must spend previously captured raw fragments as a capture fee.
Recent block burn sets the base fee; the more crowded recent minting becomes, the higher the capture fee rises.
Calldata captures it
Minting settles through open calldata competition. The first valid mint in canonical chain order receives the block's eNAT, and hot blocks push gas bids toward market equilibrium.
Future targets pay a capture fee
Once the target block reaches the capture-fee activation threshold, emt-mint must include a fee field. The fee is drained and burned from protocol-layer raw fragment FIFO, not from an ERC-20 bENAT balance.
Two asset layers
eNAT is the provenance layer for each burn event, preserving its block origin. bENAT is the liquidity layer for burn quantity, making fragments trade like a token.
From protocol rules to application surfaces
eDMT connects the protocol spec, reference indexer, public API, and application surfaces into one running stack. Every layer follows the same Ethereum calldata history and the same state rules.
Spec
Defines how deploy, mint, and transfer become valid, plus finality, supply changes, and balance movement.
Indexer
Replays calldata from Ethereum history, validates protocol operations, and settles balances, supply, and event streams.
API
Publishes balances, supply, holders, event streams, and block state so protocol state can be queried and reused.
Apps
Mint, Explore, Trade, and Wrap all build on the same protocol state. enat is the first live asset line.
Chain state updated live.
#25,011,547
7,954,447
66.0%
4543950.8671ETH
24,243
7,994,400
Calldata as Intent. Indexer as State.
eDMT is not about writing text to a chain. It defines a replayable asset state machine. Anyone can re-execute the protocol from Ethereum history and check the state the indexer reports.
I.
No Asset Contract
Deploy, mint, and transfer are calldata operations. Protocol assets do not live in contract storage, and balances are not kept by an upgradeable asset contract.
calldata-only · zero asset contract
II.
Deterministic Replay
The same chain history plus the same protocol rules should produce the same balances, supply, holders, and event stream. The indexer executes; it does not issue.
same history · same state
III.
Beyond enat
enat is the first asset, using EIP-1559 burn as its proof case. The protocol itself is for more tickers: the same deploy, mint, transfer, indexing, and settlement model.
first asset · general protocol
Why eDMT
Bitcoin found its element in proof of work — a physical anchor outside the chain. Ethereum, by becoming a world computer, drifted away from such an anchor. EIP-1559 quietly returned one: every block now consumes ETH that no one can recover.
Read the full narrative→“Block as Ledger.”
“Burn as Currency.”
“Forged by Burn. Bound to Block.”