Author: Husband, odaily The popularity of Planet Daily
pandora has made the combination of graphics and currency a new narrative for encryption. Some new projects have also taken advantage of Dongfeng to use the erc-404 protocol standard to create nft, and have gained access to leading crypto exchanges such as okx or Institutional support.
Although the author has always believed that the combination of graphics and currency itself does little to help the liquidity of NFT. From a certain perspective, it is just a novel gameplay of tokens and cannot solve the problem of insufficient liquidity of NFT. However, recently, the transaction amount of Pandora's single NFT has continued to reach new highs - Pandora #54222 NFT was traded at a price of 533 weth, setting a record so far. In the past, NFT projects were able to sell for this price, mostly blue-chip projects such as Bayc and Cryptopunks. Pandora, which was founded less than a month ago, has set such a record, which to a certain extent represents that the combination of graphics and currency may be one of the driving forces for the NFT sector to become brilliant again.
However, erc-404, as a representative protocol for combining graphics and currency, still faces the problem of excessive gas costs. If nft excludes its artistic attributes, it mainly serves social networking and games. If the gas costs of casting and trading are too high, it will not be conducive to subsequent development.
In addition, the author is looking forward to the application of the graphics and currency combination protocol in gamefi. Taking the chain game Bigtime as an example, assuming that the NFTs that players explode in the dungeon can use the graphics-coin combination protocol to convert the NFTs into tokens for sale, the game economic ecology will be more prosperous. Anyone who has played traditional online games knows that most of the equipment that is revealed is useless. Equipment that is not scarce cannot be sold and can only be decomposed. If the equipment is converted into tokens for sale with the help of the erc-404 protocol, it can Improve the enthusiasm of players, and project parties can also use this to generate income.
As mentioned above, the erc-404 protocol is still in its early stages and has shortcomings. However, erc-404 is not the only protocol that can represent the combination of graphics and currency narratives. Some rising stars may make improvements or develop new standards, compiled by daily Planet Daily related projects.
dn-404
dn-404 is a combination of erc-20 and mirror erc-721 protocols. Because it complies with erc-20 standards, it can add liquidity to uniswap. dn-404 optimizes the merged interface of erc-20 and erc-721 so that transfers on one side can affect the other side. Simply put, when a user owns dn-404’s NFT, the tokens in the wallet are displayed as a certain number Tokens, nft displayed on the nft interface, when one party changes, the other party also makes corresponding changes.
Many projects currently use dn-404 to develop new projects, such as smxle and 404shape. odaily Planet Daily reminds that the dn-404 protocol is in its early stages and has not yet undergone security review. There may be certain risks. Please participate with caution.
erc-1111
erc-1111 is a new token standard developed by the pfpasia team, also known as the redt protocol. The erc-1111 protocol adopts controllable state changes and puts the user-led conversion process between tokens and nft, avoiding the gas consumption of purchasing 1 token and minting nft in erc-404. Reducing gas helps to increase the token number of transactions.
At the same time, the ERC-1111 protocol can reduce the corresponding quantity ratio of NFT and tokens, so that it can produce a fragmentation effect and improve liquidity to a certain extent.
At present, the pfpasia team is the first to adopt the erc-1111 standard and has developed 10,000 nft. At the same time, the ratio of nft to token is 1:10000, and is launched in two phases:
redto (nft status): 50% will be first in 2024 Quarter to second quarter casting. · redt1 (token status): 50% minted on February 10, 2024.
erc-1111 is an advanced version of erc-404 to a certain extent. After the conversion of tokens and nft is controllable, the application scenarios will also expand. As mentioned at the beginning of this article, the transaction channels for nft in gamefi will be more abundant.
erc-x
erc-x can use multiple standards (erc-20, erc-404, erc-721, erc-721a, erc-721psi, erc-1155 and erc-1155delta) in one standard. This protocol mainly combines erc- 1155delta protocol, erc-1155delta is an extension of the erc-1155 standard. When erc-1155 mode is enabled, erc-x also generates erc-721 tokens, enabling compatibility with markets that support either standard. The official introduction of
mainly shows that its gas cost is lower than erc-404 and dn-404, as shown below.
However, it is controversial whether reducing gas costs will determine whether this protocol will become a mainstream protocol in the integration of graphics and currency. Judging from the current erc-404 representative project Pandora, the project's launch and wealth effect may become the measurement criteria.
represents the project as miner, and erc-x is also the standard developed by the project. However, when the miner was first released, there was a double-spending problem, and the token price dropped by nearly 40%. This has now been fixed.
erc-404+
erc-404+ was developed by the forge project, mainly to improve the nft id overload problem of erc-404. Since erc-404 keeps changing the number of nft due to the continuous transaction of its tokens, the constant nft id is faced with Overload problem.
erc-404+ A new mechanism was introduced to solve this problem, adding the _burnedtokenids array to track all ids of burned (or destroyed) nfts. Once the total supply limit is reached through minting, the contract design will recycle the id of the new nft from the _burnedtokenids array, ensuring that no new id exceeds the total supply limit. This approach not only keeps the ID sequence within the expected range, but also effectively keeps the NFT IDs within a certain range by using the IDs for new releases.
But this seems to be able to control the rarity of NFT through monitoring. The scheme of determining the rarity of each NFT ID seems to lack a bit of randomness. At the same time, erc-404 may upgrade the corresponding standard to meet this condition, then the The subsequent development of the agreement may be hindered.
The current representative project of erc-404+ is forge. In addition to
, there are many similar protocols, all of which were born by improving erc-404 related issues. At present, basically every project that combines graphics and currency will produce new protocol standards, but these "erc" standards have not gone through the formal Ethereum Improvement Proposal (eip) process and are not officially recognized erc standards. odaily Planet Daily once again reminds everyone to pay attention to risks and invest prudently.
