Token

Hybrid

Standard

Pandora

<p><em><strong>ERC-404 is a protocol created by the Pandora team and combines the features of two different token standards.</strong></em></p>
<p>The rain of innovations and inventions in cryptocurrency is endless, delivering efficient and effective services. In continuation, a new hybrid token standard with in-build capacity for fractional trading, ERC-404, is gaining pace in the crypto market.&nbsp;&nbsp;&nbsp;</p>
<p>Let’s explore the facts and features of the new hybrid token standard.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-what-is-erc-404-strong"><strong>What is ERC-404?</strong></h2>
<p>Projected on February 5, 2024, as a Pandora, the ERC-404 appeared as an experimental token standard within the Ethereum ecosystem. The token standard is a mixture of one fungible token, ERC-20, and one non-fungible token, ERC-721.&nbsp;</p>
<p>The token standard was launched recently but still needs to be officially announced as the token has yet to undergo the formal Ethereum Improvement Proposal (EIP) process. Ethereum developers do not audit the token but are gaining popularity among crypto enthusiasts.&nbsp;&nbsp;</p>
<p>The token standard is streaming on the Ethereum mainnet and is supposed to expand its roots on other networks, including Arbitrum.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/uk9deR_Jk1t5jR3oqqZwO3k7E0v2CawLjad5L8Cjol_NdkXeJ_W21O9iZH_6GNEOAPjSBEgBwCoVE18R8iMZcczc5ISPDl_PdBJFUar_POR1083iAen4voqOVyBeKnfhNe5Tc3RHItKzoZO0qPnOxXg" alt="">
  <figcaption class="wp-element-caption"><strong>Source: </strong>Pandora Website&nbsp;
  </figcaption>
 </figure>
</div>
<p>Hybrid functionality, fractionalization, native liquidity, and programmable scarcity are some features that make the hybrid token a strong player in the market. The token can adjust through code, opening doors for innovative tokenomics models.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-token-standard-complete-working-strong"><strong>Token Standard Complete Working&nbsp;</strong></h2>
<p>Despite being unofficial, the complete ownership of the hybrid token standard triggers the bonuses of an NFT. Also, the NFT is automatically burned when the token is sold. The mechanism thus helps traders make trades with both fungible and non-fungible tokens.&nbsp;</p>
<p>The token mint and burn approach thus enables fractional transfers of an <a href="https://www.thecoinrepublic.com/2024/03/18/nodemonkes-nft-grew-over-35-intraday-bayc-still-the-topper/" target="_blank" rel="noopener noreferrer nofollow">NFT</a>, making trading more effortless for the crypto fans.&nbsp;&nbsp;&nbsp;</p>
<p>Moreover, the tokens are connected to the NFTs, and buying an entire token mints the linked NFT in the buyer’s wallet.&nbsp;</p>
<p>The hybrid token standard also considers various factors, including safety, project leveraging, and influence on Ethereum price. It is identified that the token’s impact on the ETH price is limited.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-projects-employing-the-hybrid-token-standard-strong"><strong>Projects Employing the Hybrid Token Standard&nbsp;</strong></h2>
<p>Streaming in the Ethereum ecosystem, the hybrid token standard operates with projects including Pandora, DeFrogs, and Monkees.&nbsp;</p>
<p><strong>Pandora: </strong>Pandora is the first-ever project to operate the new token standard and holds around 10K PANDORA tokens and 10K linked NFTs. Purchasing a PANDORA token from any exchange results in minting an NFT in the wallet.&nbsp;&nbsp;</p>
<p><strong>DeFrogs: </strong>Another powerful project using the new hybrid token standard is DeFrogs, a collection of 10K Pepe NFTs. Like Pandora, the project mints NFT in buyers’ wallets when purchasing.&nbsp;&nbsp;&nbsp;</p>
<p><strong>Monkees: </strong>Monkees is another profile picture-based NFT project that employs the new token standard. The project holds over 100 NFTs with six traits and ten attributes, permitting users to operate with the new token standard.</p>
<p>As the token has not been submitted for EIP, most NFT marketplaces and projects do not support it. Despite these, the token standard catalyzed Pandora, helping it hit over $32,000 weekly.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-pandora-and-the-token-standard-story-strong"><strong>Pandora And The Token Standard Story&nbsp;</strong></h2>
<p>Pandora is an ERC-404 token standard that combines digital assets with NFTs to make trading more efficient. The project was introduced to the crypto world in early 2024 to deliver liquidity to the NFT space.&nbsp;</p>
<p>Surprisingly, it is the first project to adopt the hybrid token standard. However, the new token standard acted as a lucky charm for the project and raised the PANDORA price to over $32,000 within a week.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/uZPOrYTYQ4gcss0lxxfP9jTepEkYzratzBvzrGStogYo18Sh1p4giFYgzMmFELx6v3d08KBq93YZCoqMiKsZhokvDfUMvoWHeN91487_Xq71Kh0COTZyF6gc_-oGUejmcQRqkIju8HFFG6NfY7f4ExI" alt="">
  <figcaption class="wp-element-caption"><strong>Source:</strong> CoinGecko&nbsp;
  </figcaption>
 </figure>
</div>
<p>On February 9, 2024, the PANDORA token’s all-time high price of $32,000 was recorded, whereas an all-time low of $1,542.25 was measured on February 5. The token has a maximum supply of 10K PANDORA, and the circulating supply is 10K.&nbsp;&nbsp;&nbsp;&nbsp;</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>The experimental token standard is outstanding in the crypto world, helping the PANDORA token hit its all-time high of $32,000. The new standard token is being used with some NFT projects, including Pandora, DeFrogs, and Monkees. The unofficial token holds compelling features, including Hybrid functionality, native liquidity, and programmable scarcity.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<h3 class="wp-block-heading" id="strong-faqs-strong"><strong>FAQs</strong></h3>
<h4 class="wp-block-heading"><strong>What is the circulating supply of Pandora?</strong></h4>
<p>The circulating supply of Pandora tokens is 10K, and the total supply is 10K.&nbsp;</p>
<h4 class="wp-block-heading"><strong>What are the different types of ERC tokens?</strong></h4>
<p>The token standard includes ERC20, 721, 1155, and 404. However, the 404 token standard is unofficial and in the experimental phase.&nbsp;&nbsp;</p>

A Comprehensive Guide to ERC-404: A Hybrid Token Standard

Inhaltsverzeichnis

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