Watch out for ERC-404, there's another hybrid NFT standard in town

DN404, another experimental hybrid token And NFT standard was spear by A band of developers that claim they have fixed THE inefficiencies of ERC-404.

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Only A week After THE launch of ERC-404 — A unofficial Ethereum standard created has blend THE functions of fungible And non-fungible tokens (NFT) — another team of developers complaints has to have do he better with "DN404."

THE "Divisible NFT” standard, as It is ERC-404 rival, “aims has be A hybrid ERC-20/721 token." THE propose standard basically allow NFT holders has trade split servings of their NFT with others, according to has pseudonym developer "cygar" In A Feb. 12 X post.

"OUR END aim was has create A token standard that could act as A NFT with native splitting built In," cygaar added. They claims while ERC-404 has has been popular, "he doesn't follow existing standards, East ineffective, And breaks has certain edge case. »

Most trade will be do on THE base contract - This East A fully compliant ERC20 token that tracks user sales And handles THE hit/burn of THE mirrored NFT.

You can think of these tokens as fractions of THE NFT. They are compatible with DEX out of THE box.

— cygaar (@0xCygaar) FEBRUARY 12, 2024

While ERC-404 can interact with ERC-20 token And ERC-721 NFT contracts, he always requires protocols has implement ERC-404 has ensure It is tokens function as designed.

Cygar, However, explain that DN404 approach uses two Contacts: "A 'base' ERC-20 with A 'mirror' ERC-721 » And complaints they are "fully compliant » with protocols "out of THE box. »

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