$DN404
Technical details for DN404
Last updated
Technical details for DN404
Last updated
ERC404 is a newly released token standard that merges and hybridizes regular ERC20 token mechanics and ERC721 NFTs, to fractionalize NFTs.
As an example, imagine being able to own half of a Bored Ape Yacht Club NFT. Having 0.5 BAYC in your wallet. ERC404 makes this possible.
On top of that, if you purchase enough of a fractionalized NFT to have a full token, continuing the previous example, 1.0 BYAC, you are minted a corresponding NFT. An NFT with traits, rarities, and all the familiar aspects of traditional NFTs that you can sell on the open market like any other.
In short; for each whole (1.0) token you own, you also own an NFT!
Transferring or selling amounts less than a whole token will cause the joint NFT to be burned until enough of the token is once again accumulated.
It’s a powerful new tool in the cryptosphere that enables a new form of trading and ownership.
This very useful flowchart created by Stacy Muur provides a good visual explanation of how the ERC404 mechanisms work together.
ERC404 does have an Achilles’ heel, gas fees. When purchasing a full token or more, you are also forced to pay for the minting transaction in one go.
Coupling this with Ethereum’s notoriously expensive fees, especially during high activity hours, makes actively trading these tokens unappealing to some, outright inaccessible to many others.
Enter DN404 by PopPunkLLC and contributors. - https://github.com/PopPunkLLC
The DN404 forked standard includes a variety of improvements to contract structure and transaction optimizations that allows much more gas-efficient trading of ERC404 type tokens.
When Any Inu was exploring the possibility of including ERC404 elements to its ecosystem the benefits to holders and traders found in DN404 were impossible to ignore. Allowing more users to engage with this exciting development.
AnyToshi saw this new tech being tested on the Ethereum Test Net and immediately recognized its usefulness and talented development and so began looking to deploy this new efficient form on the mainnet.
Coming with up with a fitting name was easy. Dog Nexus 404.
The development of Dog Nexus 404, shortened to $DN404, was so rapidly done in fact that $DN404 was the first project using the DN404 standard deployed on the mainnet!
$DN404 is planned to be just as tradable and bridgeable as $AI using Axelar to bridge between networks. $DN404 will feature extraordinary dog houses to give your Any Inu a proper place to stay! Additionally the $DN404 will have a significant role to play with the Diamond Hands Leaderboard!
