The brand new Ethereum token customary combines the performance of ERC-20 tokens and ERC-721 NFTs.
The experimental token customary ERC-404, which mixes the traits of NFTs and fungible tokens, is gaining momentum within the Ethereum ecosystem.
Pandora, the primary ERC-404 token to make use of the usual, has surged in worth and is at the moment buying and selling at $16,600, up 5,000% since its launch on February 2. In keeping with DEXscreener, Pandora has a market capitalization of $166 million.
On NFT market Blur, the Pandora token has a ground worth of seven.45 ETH ($17,508) and greater than 1,300 holders.
The ERC-404 token customary supplies a novel strategy for tasks desirous about combining the simply tradable nature of ERC-20 with the non-fungibility of ERC-721.
In keeping with Pandora’s Github, the experimental customary brings native liquidity and fragmentation inside the usual.
Pandora points 10,000 ERC-20 tokens and 10,000 “duplicate” NFTs. If a person purchases a full Pandora token, 1 Replicant NFT will probably be robotically minted into their pockets. Conversely, if a person sells their Pandora tokens, the linked NFT will probably be destroyed.
Customers can select to commerce tokens on decentralized exchanges akin to Uniswap, or commerce NFTs on common marketplaces akin to Blur and OpenSea.
Apparently, the usual additionally features a rarity part. Every time a Replicant NFT is minted, a rarity “rating” is displayed, with inexperienced indicating frequent and purple indicating the rarest.
