💡About ERC-404
Last updated
Last updated
ERC404 is a novel token standard that blends the characteristics of both fungible (like ERC20) and non-fungible tokens (like ERC721). This unique standard aims to redefine the utility and trading dynamics of NFTs by integrating them with fungible token aspects. Key features and workings of ERC404 include:Hybrid Token Model: ERC404 combines features of ERC20 and ERC721, offering a unique blend of fungibility and uniqueness in tokens.
NFT Integration: Purchasing a token grants an associated NFT, while selling the token results in the NFT being burned.
Liquidity and Fractionalization: This standard potentially introduces more liquidity to NFTs and allows for their fractional ownership.
Versatile Applications: It opens new possibilities in various sectors, including gaming and finance, by reimagining NFT usability.
Vision: Main idea behind erc404 is to provide a deep liquidity for NFTs. Basically the price of the token will reflect the floor of the NFT and side by side also enables fractionalization as you can also hold 0.1 token and it will be around 0.1 times of the floor of the NFT.
