Summary
A new unofficial token standard called ERC-404 is gaining popularity in the Ethereum community. It aims to combine the benefits of fungible and non-fungible tokens, allowing for fractionalization of NFTs. The first ERC-404 token, PANDORA, saw a significant increase in value, trading as high as $32,000 in just under a week. Other projects have also issued their own ERC-404 tokens on different blockchain ecosystems. However, there are concerns about the safety and technical design of these unaudited tokens. In response, a group of Ethereum developers introduced a new token contract called DN-404, which claims to address some of these concerns and offers gas savings compared to ERC-404.
Key Points
1. ERC-404 and DN-404 are new unofficial token standards in the Ethereum ecosystem that aim to combine the virtues of fungible and non-fungible tokens.
2. ERC-404 tokens, such as PANDORA, have gained significant traction and trading volume, with PANDORA reaching a high of $32,000 in just under a week.
3. Concerns have been raised about the safety and technical design of ERC-404 tokens, as they have not been officially approved or audited. In response, developers have introduced DN-404 as an unofficial token contract that claims to address some of the apparent drawbacks of ERC-404.