ERC-404：NFT 領域的遊戲規則改變者，徹底改變部分所有權

實驗性 ERC-404 標準結合了 ERC-20 和 ERC-721 標準，為 NFT 引入部分所有權，有望解決流動性問題。 Pandora 的 ERC-404 實施使用 PANDORA 代幣 (ERC-20) 和 Replicants NFT (ERC-721)，允許分段購買和鑄造和銷毀功能，以促進 NFT 分段化。

ERC-404: A Paradigm Shift in the NFT Landscape

ERC-404：NFT 格局的典範轉移

By Benzinga

透過本辛加

On February 2nd, the launch of Pandora, an experimental hybrid token, introduced the ERC-404 standard to the non-fungible token (NFT) realm. This unofficial Ethereum standard, which seamlessly merges the ERC-20 and ERC-721 standards, has sparked a revolution in the NFT ecosystem.

2 月 2 日，實驗性混合代幣 Pandora 的推出，將 ERC-404 標準引入了不可替代代幣 (NFT) 領域。這項非官方的以太坊標準無縫融合了 ERC-20 和 ERC-721 標準，引發了 NFT 生態系統的一場革命。

ERC-404: Bridging the Gap Between Fungibility and Uniqueness

ERC-404：彌合可替代性和唯一性之間的差距

The ERC-404 standard combines the fungibility of ERC-20 tokens, which govern token issuance on the Ethereum blockchain, with the distinctive characteristics of ERC-721 tokens. This unique blend creates a new standard for semi-fungible tokens that facilitate fractional ownership of NFTs.

ERC-404 標準將管理以太坊區塊鏈上代幣發行的 ERC-20 代幣的可互換性與 ERC-721 代幣的獨特特徵相結合。這種獨特的混合為半同質代幣創建了新標準，促進了 NFT 的部分所有權。

Pandora: A Pioneer in Semi-Fungibility

潘朵拉：半可替代性的先驅

The Pandora project serves as a testament to the power of the ERC-404 standard. By utilizing both ERC-20 tokens (PANDORA) and ERC-721 tokens representing unique NFTs in the Replicants collection, Pandora has ushered in a new era of fractional NFT ownership.

Pandora 計畫證明了 ERC-404 標準的力量。透過利用代表 Replicants 集合中獨特 NFT 的 ERC-20 代幣 (PANDORA) 和 ERC-721 代幣，Pandora 開創了部分 NFT 所有權的新時代。

For each PANDORA ERC-404 token purchased, buyers automatically receive a Replicants NFT in their wallet, with varying rarities depicted by the color of the NFT box. The mint-and-burn mechanism ensures that when a PANDORA token is sold, the associated NFT is burned. However, buyers have the option to retain rare NFTs by storing them separately.

對於購買的每個 PANDORA ERC-404 代幣，買家會自動在錢包中收到一個 Replicants NFT，不同的稀有度由 NFT 盒子的顏色表示。鑄造和銷毀機制確保當 PANDORA 代幣被出售時，相關的 NFT 會被銷毀。然而，買家可以選擇透過單獨儲存來保留稀有的 NFT。

Conversely, when selling or transferring an NFT, only the fungible portion of the PANDORA token is transferred to the buyer's wallet along with the Replicants NFT. This mechanism enables fractional purchases of the PANDORA token, automatically minting an NFT to the buyer's wallet upon acquiring sufficient fractions to form a whole NFT.

相反，當出售或轉讓 NFT 時，只有 PANDORA 代幣的可互換部分會與複製品 NFT 一起轉移到買方的錢包。該機制支援分批購買 PANDORA 代幣，在獲得足夠的分片以形成完整的 NFT 後，自動將 NFT 鑄造到買家的錢包中。

Financialization of NFTs: A New Frontier

NFT 金融化：新領域

The ERC-404 standard has the potential to catalyze the financialization of NFTs. By enabling the fractionalization of NFTs, the ERC-404 standard opens up new investment opportunities for individuals who may not have the capital to purchase entire NFTs.

ERC-404標準有潛力促進NFT的金融化。透過實現 NFT 的碎片化，ERC-404 標準為可能沒有資金購買整個 NFT 的個人帶來了新的投資機會。

Additionally, the ability to wrap existing ERC-721 NFT collections into interchangeable ERC-404 tokens could significantly enhance liquidity in the NFT market.

此外，將現有 ERC-721 NFT 集合包裝成可互換的 ERC-404 代幣的能力可以顯著增強 NFT 市場的流動性。

Competitive Landscape and Future Prospects

競爭格局及未來前景

Since Pandora's launch, several competitors have emerged, such as the Divisible NFT standard (DN-404) and Injective Protocol's CW-404 standard. Solana's SOL/USD SPL-20 tokens also mirror ERC-404 tokens in terms of functionality.

自 Pandora 推出以來，出現了多個競爭對手，例如 Divisible NFT 標準（DN-404）和 Injective Protocol 的 CW-404 標準。 Solana 的 SOL/USD SPL-20 代幣在功能上也與 ERC-404 代幣相似。

The ERC-404 standard has ignited excitement among creators and developers, presenting opportunities for integrating NFTs with the DeFi ecosystem and tokenizing in-game assets through fractionalization. This opens up new monetization models within the Metaverse.

ERC-404 標準激發了創作者和開發者的熱情，為將 NFT 與 DeFi 生態系統整合以及透過分片化對遊戲內資產進行代幣化提供了機會。這在元宇宙中開啟了新的貨幣化模式。

Risks and Considerations

風險和注意事項

As with any innovation, the ERC-404 standard comes with inherent risks. It is crucial to acknowledge that this standard has not been recognized by the Ethereum Foundation and has not undergone formal vetting through an Ethereum Improvement Proposal (EIP). This underscores the potential for exploitation by malicious actors.

與任何創新一樣，ERC-404 標準也存在固有風險。重要的是要承認該標準尚未得到以太坊基金會的認可，也沒有經過以太坊改進提案（EIP）的正式審查。這凸顯了惡意行為者利用的可能性。

Moreover, the standard is still in its experimental stage, with Pandora currently testing a new v2.0-beta version to address bugs, optimize logic, and reduce gas costs.

此外，該標準仍處於實驗階段，Pandora 目前正在測試新的 v2.0-beta 版本，以解決錯誤、優化邏輯並降低 Gas 成本。

Despite these risks, the immense potential of the ERC-404 standard in unlocking NFT liquidity and enabling collaborative applications within the Web3.0 ecosystem should not be overlooked. Investors are advised to monitor developments closely as this experimental token standard has the potential to reshape the landscape of digital assets on the Ethereum blockchain.

儘管存在這些風險，ERC-404 標準在釋放 NFT 流動性和在 Web3.0 生態系統中啟用協作應用程式方面的巨大潛力不應被忽視。建議投資人密切關注事態發展，因為這項實驗性代幣標準有可能重塑以太坊區塊鏈上數位資產的格局。