Summary
Injective has launched the CW-404 standard to rival Ethereum’s ERC-404, aiming to capture investments flowing into Ethereum. The CW-404 standard merges capabilities of CW-20 and CW-721 standards, promising to revolutionize fractional NFT standards. Despite ERC-404’s success, there are concerns about practical application in lending pools. It is important for blockchain protocols to carefully adapt to new standards like CW-404 and ERC-404.
Key Points
1. Injective launched the CW-404 standard to rival Ethereum’s ERC-404 and capture a portion of the investments currently flowing into Ethereum.
2. Through a strategic partnership with decentralized exchange DojoSwap, Injective introduced the CW-404 standard, which merges the capabilities of the CW-20 and CW-721 standards to revolutionize fractional non-fungible token (NFT) standards.
3. The ERC-404 standard on Ethereum has been a financial game-changer, enabling multiple wallets to co-own a single NFT and attracting millions of dollars to the Ethereum ecosystem.