DN404
DN404, an implementation of a co-joined ERC20 and ERC721 pair.
Last updated
DN404, an implementation of a co-joined ERC20 and ERC721 pair.
Last updated
A fully standard compliant fungible ERC-20 token contract and fully standard compliant non-fungible ERC-721 token contract are interlinked, allowing actions performed on one contract to be reflected on the other. This proposal defines how the relationship between the two token contracts can be queried.
The technicalities are extensive, but essentially, any transaction occurring on either contract be it ERC20 or ERC721 will be reflected on the other. This 'mirroring' is how both contracts are built to work as one.
Each full ERC20 token will automatically mint you a ERC721 token. When you sell your ERC20 tokens, your ERC721 tokens will be burned away, starting with the most recently acquired ERC721 token.
When you transfer a NFT via ERC721, the NFT ID is preserved during the transfer. The amount of ERC20 tokens corresponding to 1 full ERC20 token will be automatically transferred along with the NFT. The NFT is preserved and not burned when transfers are initiated via ERC721.
DN404 represents a significant advancement in the realm of token interoperability. With its innovative approach, DN404 revolutionizes various sectors, including NFTs, fractional ownership, and DeFi.
Compatibility with different token standards fosters collaboration and integration between different DeFi protocols or linking decentralised marketplaces. By using DN404, investors will have access to enhanced accessibility and liquidity, unlocking new opportunities in asset tokenisation and investment.
Whether it's shares in luxury assets or artwork, DN404 enables seamless token transfers involving partial values. Take this as an example: https://hypebeast.com/2024/4/daniel-arsham-rwb-porsche-slantnose-964-rally-ipo-info
Native fractionalisation. Trading NFTs has historically been a binary decision - you buy/sell the entire NFT or you don't. You can't trade fractions. With ERC-20 tokens however you can, which means with DN404 tokens you can too.
