jakiro
Source: followin
In the past two days, a niche project has made OG players “orgasm”, especially NFT players, and I think it is likely to be the NFT track that saves the quagmire.
This project is called Pandora, Pandora, a 10K NFT project.No, a tokens … uh, it doesn’t seem to be right.
In short, from the data, the price a week ago was $ 200, which is currently at $ 5,600.About 27 times.
As of the post, Pandora’s pool liquidity is about $ 15 million, a 24 -hour transaction volume is 27 million US dollars, and the market value is $ 54 million.
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What is the ERC404 protocol?
To say Pandora, what is the ERC404 protocol?
According to the official data description, ERC404 is an experimental, mixed ERC20 / ERC721, and has protocols with native liquidity and fragmentation.
This is very abstract. In a vernacular, the protocol can allow NFT to split transactions like tokens, a currency exchange agreement.
Imagine that the ownership of blue -chip NFT, which is as expensive and lacking liquidity as PUNK, can be traded on the mainstream exchange as a mobile asset, as if it is an ordinary token asset such as an ERC20.
That is to say, the ERC404 protocol solves the liquidity of NFT.However, it is different from the previously popular method of solving NFT liquidity in a fragmentation method. The ERC404 protocol can combine the currency to one, but it can be bought and sold separately.
Let’s take a look at the official comparison and obscure explanation: Although these two standards are not designed as mixed use, this realization is to achieve mixing in a steady way as possible, and at the same time, we minimize the balance.In the current implementation, ERC404 is effectively isolated from ERC20 / ERC721 standard logic, or the path is introduced in possible places.The path can be best described as a damaged encoding scheme, where the number of token quantity data and ID occupy the shared space. It is assumed that it will not or does not need to occur to ignore the token transmission that can occupy the ID space.
This new concept standard is completely experimental and has not yet accepted a comprehensive external audit.And due to the nature of the standard overlap, most integrated protocols have not fully understood its hybrid function.
At present, the ERC404 protocol is completely open source. Therefore, developers can use their own projects based on the agreement, or to carry out secondary development of the agreement based on the existing agreement.
It sounds beautiful, I have to say that the project is very early.
First, the ERC404 standard has not yet passed the review of the ERC standard protocol.To become an EIP proposal, experiment and demonstration, review and review, community participation, documentation and specifications, the EIP proposal, experiment and demonstration, review and review, community participation, community participation, documentation and specifications should be in the second and third stages.Supplementing a message, there are 391 ERC standard protocols, of which only the protocol related to NFT is the familiar ERC-721 and ERC-1155.
Second, there is no official website, only the telegram group.
Third, only some OG players are sharing.
At present, we did not see the project team, but only saw information saying that the project was participated in the development by former coinbase engineers.
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What is the soaring Pandora?
Pandora is the first project based on ERC404 tokens. A 10K NFT project, corresponding to 10K Pandora ERC20 token.
Buying a pandora means that NFT is cast and automatically appears in a wallet. Selling tokens means that NFT is destroyed.Transfer tokens are also a process of NFT being destroyed and re -cast.But transferring NFT will not bring changes in NFT.
This means that you can sell your NFT to the liquidity pool of Uniswap, without having to wait for the trading platform like the mainstream NFT transaction.
However, this PANDORA’s NFT has 5 rare levels. If you especially want to hold some kind of rarity NFT, then buy NFT directly.If you don’t care about NFT rarity, the NFT that purchase token automatically synthesizes will show its corresponding rarity.
“We think this is not just a novelty. Pandora proves the potential of ERC404 as a token standard, which can achieve lasting native liquidity and the fragmentation of the future NFT collection.” The project party said.
What do you think of the characteristics of pandora?That’s right, a bit like the recent explosion project on solana, nuts, right?In fact, early players nicknamedra as the peanut NUTS of Ethereum.
From the data of Dextool, as of the post, the price of the Pandora token was US $ 5,465, the liquidity of the pool was about $ 15 million, the 24 -hour transaction volume was 27 million US dollars, and the market value was 54 million US dollars.
From the recent increase and market value, it is terrible+expensive.
More information shows that as of press time, the Bingx transaction has launched the PANDORA tokens in the form of the global first -issued.
In addition to the official “proofing” project of Pandora, based on the ERC404 protocol, some new projects have begun to follow up. The first project that officially reposted is Anon.
How will ERC404 and pandora develop?Can you participate?
The ERC404 protocol, its narrative is very “charm”, which can use NFT for fragmented transactions to solve the problem that the boss of the entire NFT track headache is difficult.Combined with the performance of the hot peanut NUTS, the concept of two phenomena of the currency is likely to have a small outbreak.
In overseas communities, some people also see the possibility of development and iteration based on ERC404, which makes them very happy.
OG shared the point of view that the protocol allows NFT to naturally have the attributes of NFT-FI.
Twitter account @ronakawsb commented: The native currency combination allows the asset gameplay to instantly have a latitude.You may see more creativity soon.This may be the most important NFT agreement innovation in Etherie in the past two years!
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KOL @Haze0X said the two largest market maps and coins in the currency circle.The liquidity of the two is combined, which applications will be born next.And how much will it be worth it as the underlying protocol standard?I don’t know, but it’s shocking.Start entering the trial in the exchange of currency and further release the two -way liquidity of NFT and token.This is the iterative innovation of cognitive and thinking, incorporating the most extensive group of currency into a project, looking forward to the wealth effect.
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The well -known investment and research account first -class haircut states that it is very fun. It is still in a very early stage. It is recommended that everyone pay attention to it.Everyone pays attention to the point of attention.I’m already in the car anyway.
Once again, the project is still very early. The project has not been audited by a professional institution. Please be careful to evaluate the risk of transaction.
