Introducing DN404: The Evolution of ERC404 Standard
Just a week following the debut of ERC-404, the NFT world welcomes DN404, a new hybrid standard. This innovation, announced by developer cygaar, promises a more seamless integration of fungible and non-fungible token functionalities.
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Just a week following the debut of ERC-404, the NFT world welcomes DN404, a new hybrid standard. This innovation, announced by developer cygaar, promises a more seamless integration of fungible and non-fungible token functionalities.
Unlike ERC-404, which requires an additional protocol for implementation, DN404 aims to facilitate direct fractional trading of NFTs.
“The premise of ERC404 was to create a single contract that can act as both a fungible and non-fungible token. However, this can't be done without introducing exploits and breaking standards. Our approach instead uses two contracts – a ‘base' ERC20 with a ‘mirror' ERC721,” explained cygaar.
Elaborating further, quit, a fellow developer, remarked, “I want to be clear – while I had a ton of fun building this, I still see 404 as more of a gimmick than anything else. However, the space has shown a desire to continue using it, and so we decided it was worth making an implementation that was efficient and safe to use.”
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