Ethereum ERC-404 Token PANDORA Grew by Massive 1000% What is ERC-404? Everything You Need To Know

Theres a hot new thing in the crypto world called the ERC-404 token standard, and its making waves! This bad boy combines ERC-721 and ERC-20, giving project developers a slick way to amp up liquidity. Its catching on like wildfire, and tokens built with this standard are blowing up. Lets dive into the top dogs in the market right now. The first token named PANDORA has increased by massively 1000%. Lets take a look at this What is ERC-404 standard in more detail.

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What is ERC-404?

Lets talk about something pretty cool in the crypto world: ERC404. Its an experimental mashup of ERC20 and ERC721, aiming to bring native liquidity and fractionalization into the mix. Now, these two standards werent exactly meant to be mixed, but ERC404 is giving it a shot while trying to minimize any downsides.

In its current form, ERC404 tries to keep ERC20 and ERC721 logic separate, or it introduces something called pathing where it can. Pathing is like squeezing two things into one space, assuming that some token transfers wont overlap or need to happen.

Now, heres the thing: ERC404 is still totally experimental and hasnt been audited yet. Testing has been done to make sure it works as intended, but because its mixing different standards, integrating protocols might not fully grasp how it all works together. So, its a bit of a wild ride, but definitely an interesting experiment in the world of crypto standards!

Created by the @Pandora_ERC404 team, ERC-404 shakes things up as a fresh, unofficial token standard aiming to bridge the gap between fungible tokens and NFTs. But why unofficial? Well, ERC-404 skipped the formal Ethereum Improvement Proposal (EIP) and Ethereum Request for Comments (ERC) processes. This means it hasnt gone through the community vetting for security flaws, so adopting it might set a risky precedent and potentially lead to unforeseen exploits.

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How does ERC-404 actually work?

ERC-404 gets creative by mixing elements from the ERC-20 and ERC-721 standards, which arent usually meant to play nice together. Its ERC-721 approach takes a different route, using token mints and burns for fractional transfers.

Why does ERC-404 matter?

Well, while weve seen NFT fractionalization protocols where you can lock an NFT and issue shares against it, ERC-404 does things a bit differently. Its designed to fractionalize natively within NFT projects that use the standard. This opens up new possibilities for experimentation and trading NFTs in exciting ways.

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What is Pandora The First Project of ERC-404

Pandora is basically a squad of 10,000 avatars, also known as replicants, tied to the initial tokens rolled out on ERC404. This experimental token standard is all about keeping the liquidity flowing and giving Ethereum NFTs a touch of that semi-fungibility vibe.

Pandora rolls out with 10,000 ERC-20 tokens and a matching set of 10,000 Replicant NFTs. When you snag a full $PANDORA token on an exchange, voila! One Replicant NFT is freshly minted into your wallet. But, if you decide to cash out, your tokens linked NFT gets gracefully burned.

Now, since ERC-404 is still in the experimental phase, not every platform is ready to roll with it out of the gate. But fret not! Pandora is already making waves on decentralized exchanges like Uniswap and strutting its stuff on NFT marketplaces such as @blur_io and @opensea.

Fasten your seatbelts because in just under a week, Pandora and its Replicants have seen their value skyrocket as eager traders dive in headfirst. Pandora has soared a whopping +1000% to its current price of around $29,971.47, while the floor of Replicants is clocking in at a cool ~7.4 ETH on Blur.

Keep your eyes peeled for more collections jumping on the ERC-404 bandwagon, and watch out for platforms considering integrating this tech.

But before you get swept up in the excitement, a word of caution: ERC-404 is still unaudited, which means there could be lurking vulnerabilities waiting to pounce. Translation? Dont toss more cash into an ERC-404 project than youre willing to part ways with during these early days of experimentation.

So, ERC-404 is a fascinating experiment blending the fungible with the non-fungible, paving the way for potential NFT innovations. But, keep in mind its unofficial status carries some risks, so tread carefully to avoid any unpleasant surprises down the road.

When you snag 1 PANDORA on Uniswap, youre in for a sweet deal: 1 token plus 1 NFT zapped straight to your wallet. The best part? Each NFT comes packed with random Pandora rarity traits, adding an extra dash of excitement to your collection.

But hey, if you decide to cash out and sell your 1 PANDORA on Uniswap, your NFT takes one for the team and gracefully goes up in smoke. However, dont fret! Youve still got options. You can opt to sell your Pandora NFTs separately on OpenSea and Blur, giving you the flexibility to navigate the market as you please.

When you scoop up some $PANDORA from @Uniswap, youre not just getting tokens youre scoring a unique Pandora NFT straight to your wallet.

Heres the catch: this deal only applies to whole numbers. So if you buy, say, 0.5 $Pandora, you wont get an NFT. But fear not! Snag another 0.5, and boom youve just minted yourself a shiny new NFT.

But what happens when you decide to part ways with your $PANDORA on Uniswap? Well, unfortunately, the NFT in your wallet doesnt stick around for the farewell party its automatically sent to the incinerator.

Now, lets talk about these NFTs. Despite the liquidity of the tokens, these bad boys come with trading card-style rarity traits, adding a whole new level of excitement to your collection.

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What are some other projects on ERC -404?

DeFrogs (DEFROGS)

So, theres this new thing called DeFrogs (DEFROGS) thats been making some noise lately. Its basically like Pandoras little sibling, with its own twist on the ERC-404 standard. Picture this: you buy one of their tokens, and bam! Youve also got yourself a shiny new NFT to show off.

Theyre all about keeping things flowing smoothly for investors, thanks to that ERC-404 magic. And theyre riding the hype train hard! In just three days, DeFrogs has shot up over 2,000%. Right now, its chilling at $2,800 per token, with a market cap of $27.6 million. Talk about making a splash!

Monkees (MONKEES)

Theres this another project called Monkees (MONKEES), and they are all approximately the ones monkey PFPs on Ethereum. Essentially, they may be becoming a member of the ERC-404 membership, that is in which all of the cool children are placing out these days. Monkees just launched currently, and theyre making some extreme noise!

Their token price has skyrocketed by over 2,000% that is pretty bananas, proper? With a marketplace cap of $1.8 million and liquidity of $256,000, they may be truly making their mark.

But wait, there may be extra! There are more than one different initiatives leaping at the ERC-404 bandwagon too. you have Punks404 (PUNK) and EtherRock404 (ROCK) in the blend. PUNK remains locating its footing with a market cap of $760,000, even as ROCK is rocking it with a market cap of $4.4 million.

So yeah, it is a quite wild scene inside the global of crypto right now!

How to TRADE ERC-404 TokenS?

Bitget is a recommended exchange. Known for its low fees and user-friendly platform, Bitget makes it easy for both new and experienced traders to trade tokens. With the current market dynamics and ERC-404 tokens promising trajectory, now might be a strategic time to consider adding these tokens to your cryptocurrency portfolio.

Text source: CryptoTicker

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