#Write2Earn SHIB burns demonstrate confident rise both on daily and weekly time framesContentsSHIB burn rate surgesExciting new #ERC-404 NFTs comingAccording to data revealed by the Shibburn tracking website, over the past week, there has been a substantial rise in terms of $SHIB burns as this metric surged by more than 100%.Equally, a recent tweet by the aforementioned source showed a rise of daily SHIB burns as well.SHIB burn rate surgesA recent tweet published by Shibburn states that within the last week, there has been a total of 102,040,474 SHIB sent to dead-end blockchain wallets in total, which gave the burn rate a 160% increase.As for the daily burns, here we can see a rise of nearly 40% with 1,530,193 SHIB scorched since last morning.This week, the daily SHIB burn rate was mostly in the red, so this is a rare moment this week when one can see a rise into the green area.In the meantime, the SHIB team continues to test the automated mode of burning SHIB on the #Shibarium testnet known as Puppynet. This testing began in January and marked a new era in SHIB burns even though the new mode has not yet been implemented on the Shibarium mainnet.So far, 410,708,406,779,693 SHIB from the overall circulating supply have been burned, according to the Shibburn website.Exciting new ERC-404 NFTs coming#Shibainu team member Lucie has posted a tweet about the upcoming release of the new SHE-boshis NFT collection made on the new Ethereum-based 404-ERC standard. Sheboshis were announced prior to Valentine’s Day, and this collection is dedicated to women to praise them and establish a strong future for NFTs.Once launched, Sheboshis will be tradable on Uniswap and ShibaSwap. There is a plan to bridge them to Shibarium in the future. Lucie likened 404-ERC NFTs to Bitcoin Ordinals in their early days. Lucie stated that with ERC-404 NFTs the value is tied to tokens in real-time mode, which can be monitored by charts. Even though gas fees are bigger here, this also means “bigger investments, leading to more significant market movements.”Lucie added that ERC-404 turns NFTs into something more than just digital art by adding value and “breaking the mold.” She reminded the community that Sheboshis have not been minted yet, thus warning the army about possible scam schemes.#BTC

Hace apenas 8 días nació un nuevo token que pretende revolucionar como funcionan los NFT. Literalmente quiere cambiar esta tecnología. Y si, estoy hablando de $Pandora Primero de todo, te presento a Pandora El proyecto que ha engendrado esta nueva tecnología, h que como puedes ver, parece que no les va nada mal con una capitalización de casi 170 millones, parece que este nuevo token ha llegado para quedarse. Pero espera ¿$Pandora es un token? ¿O es un NFT? Antes de explicar, vamos a poner un poco de contexto. En el ecosistema crypto tenemos 3 actores principalmente: • Crypto: Estos activos son NATIVOS de cada blockchain Son los que utilizas para pagar el gas/comisiones $ETH , $BNB, $ADA, $DOT, $BTC. • ERC-20: Estos son los tokens ($USDT, $WETH, $UNI.) Realmente, son contratos inteligentes desplegados en la blockchain y para ser considerados tokens ERC-20, deben seguir una serie de normas.Es decir, siendo estrictos si el token no tiene unas funciones concretas, no se le podría llamar token Por último, tenemos a los… • ERC-721: Los NFT de toda la vida Hay que diferenciar muy bien cada uno de ellos, cada uno es diferente del anterior y debe interpretarse de una forma u otra. Sin embargo, esto no ocurre con los ERC-721, los NFT ya que dentro de cada colección, TODAS sus unidades están identificadas. Además, por su propia naturaleza un NFT, por lo general, NO lo puedes dividir. Es decir, tu no puedes enviar 0,5 BAYC (Bored Ape) O envías 1 NFT entero o no envías nada, esto NO ocurre con los tokens ERC-20 ya que puedes enviar 0,001 $USDT (por ejemplo) ¿Esto qué implica para los NFT? En pocas palabras, se vuelve un mercado menos líquido, menos tradeable ¿Podemos solucionar este problema? Bingo!! Se los tengo! La caja de pandora Y aquí es cuando toca hablar del nuevo estándar que unos desarrolladores se han sacado de la manga. Bueno, no solo han creado un nuevo tipo de contrato inteligente si no que lo han creado, junto a su proyecto, $PANDORA Un nuevo tipo de token, el cual han bautizado como ERC-404, Literalmente son algo como la foto que pondré por aquí abajo. Han mezclado los tokens ERC-20 con los NFT ERC-721, es una mezcla de ambos mundos que intenta mejorar la liquidez de los NFT. La forma más sencilla de explicar como funciona, es directamente explicando el proyecto de $Pandora.Que para algo son los creadores de este nuevo estándar: $Pandora es una colección de 10.000 NFT Son cajas como las que puedes ver aquí: Pero son algo peculiares, si tienes 1 NFT de $Pandora también tendrás 1 Token de $Pandora. Es decir, tienes tanto un nft (ERC-721) como un token (ERC-20), El NFT lo puedes vender en un marketplace normal (Como blurr). Y el token lo puedes vender en un exchange descentralizado normal (Como Uniswap) La gracia de tener ambos es que si envías el NFT a otra wallet, también se transfiere el token y lo mismo si haces al revés. Si envías el token, el NFT también lo pierdes, es como si el token y el NFT estuvieran atados el uno al otro. No se pueden separar, PERO aquí viene lo curioso ¿Recuerdas que más arriba te comenté el problema de los NFT? Es decir, que no puedes enviar la mitad del NFT del $Pandora, pues con el ERC-404, si que puedes enviar 0,5 TOKENS de $Pandora, esto significa que puedes vender medio $Pandora. PERO si haces esto, ahora en tu wallet, tendrás tan solo 0,5 $Pandora o en otras palabras tienes medio token de pandora. ¿Y qué pasa con el NFT? En el momento que DEJAS de tener 1 token entero de $Pandora el NFT que va atado al token, se QUEMA, se destruye PERO si vuelves a tener 1 token entero, el NFT, se volverá a crear en tu wallet mágicamente. Es decir a pesar de que existen 10.000 tokens de $Pandora NO existen 10 000 NFTs ya que para que existan los tokens deben estar COMPLETOS. Por ejemplo, si divido 1 token pandora en 10 wallets (cada una tendrá 0,1 Pandora) nadie tendrá 1 NFT de Pandora. No obstante, si una de las 10 carteras que tienen 0,1 compra o recibe 0,9 tokens como ahora tendrá 1 token entero mágicamente, recibirá un NFT de Pandora. En otras palabras, los ERC-404, son un NFT y un token al mismo tiempo al tener 1 token, también tienes un NFT, pero nadie te impide tener 0,1 tokens, por lo que puedes comprar o vender una pequeña parte del NFT Y en el momento que tengas 1 token entero, recibirás 1 NFT el problema de los ERC-404 es que no están auditados, ni han pasado la revisión de la comunidad Realmente, no es un estándar de token nuevo además, tiene ciertas ineficiencias que hace que consuman mucho más gas que los NFT normales, es decir son más caros de transaccionar. Muchas gracias por haber leído hasta el final.#TrendingTopic #ERC-404 #NFT $ETH

Source: Stacy MuurSince the start of February, a new experimental Ethereum token standard has taken web3 by storm.ERC-404, the novel token standard has given rise to a subclass of crypto assets that have garnered a market cap of over $300m.ERC-404 tokens such as DeFrogs have changed the NFTs narrative forever with a new and innovative hybrid approach.The interest generated by these new tokens can be reflected in their price action, for instance, DeFrogs went from a few dollars to its all-time-high of $ 3,987.97within 3 days.Source: BinanceWhat is ERC-404?First, a token standard is a set of rules determining how a cryptocurrency or token is created, functions, behaves and interacts within a particular blockchain network.On the Ethereum blockchain, there are two prominent token standards, ERC-20 which is the standard for fungible tokens and ERC-721, the standard for non-fungible tokens (NFTs). ERC-404 combines both of these standards into one and the result is a semi-fungible token that can be an NFT or a typical token. This means that ERC-404 tokens can be traded on NFT marketplaces as well as on exchanges. ERC-404 is therefore an experomental token standard for digital assets on the Ethereum blockchain that has the properties of both an NFT and a token. It was developed by two pseudonymous creators “Ctrl” and “Acme”. The token standard was named after the “404 not found” error message that is displayed when we try to access web pages that are no longer available. Understanding ERC-404To understand ERC-404 we first need to understand the meaning of “fungible”. Fungible refers to when an item is replaceable or interchangeable with another identical item of the same type and still performs the same function whilst retaining the same value. A $100 bill can be replaced with any other $100 bill and still retain the same value and perform the same function.ERC-20 tokens are fungible and can be fractionalized i.e. they can be broken down into small fractions. This is why they are the token standards for coins on the Ethereum blockchain. Meanwhile, ERC-721 is the standard for non-fungible tokens (NFTs), these types of tokens can not be fractionalized i.e. you can not own 0.2 or 0.45 of an NFT. It's either you have a whole or nothing. ERC-404 tokens merge these two properties and features. You can either own an entire NFT or own fractions of it, consequently, you can trade these fractions on exchanges or trade the entire NFT on an NFT marketplace. But how? Mint and Burn  ERC-404 tokens can pull this off through a mechanism known as “mint and burn”. When ERC-404 tokens are issued each NFT is bonded with an ERC-20 token.  If the NFT is broken down into fractions the NFT is burnt and the tokens can be traded. If anyone accumulates enough tokens to form a whole an NFT is automatically minted to their wallet.That is, ERC-721 tokens are tied to ERC-20 tokens, where an ERC-20 token only represents an NFT when it is a whole token, not a fraction.Once a whole (1,2,3…N even numbers) is broken down into fractions for trading as an ERC-20 token, the NFT is burnt. When enough tokens to form a whole are accumulated, for instance, two complementary fractions (e.g. 0.4 and 0.6) this will form a full token and a new NFT is minted to the wallet of the owner.  This new innovative token standard ensures fractionalization of NFTs making them more liquid, instead of waiting for a buyer on an NFT marketplace you can easily sell it on an exchange that it is also listed on. Let's highlight some notable ERC-404 projects.DeFrogs One of the pioneering ERC-404 projects, DeFrogs is both the first PFP ERC-404 project as well as the first ERC-404 meme coin. The hybrid(ERC-721 + ERC-20), semi-fungible project created by the pseudonymous creator "Dalt Wisney" is a 10,000 collection of cartoon Pepe-and-DeGods-inspired PFPs. DeFrogs’ combination of meme culture with the ERC-404 narrative has been able to garner a buzzing and growing community. (Tg: @DeFrogs)DeFrogs launched via a fair launch (coingecko.com/learn/what-is-a-fair-launch-in-crypto) on Uniswap, with 80% of the supply added to the liquidity pool while just 1% of DeFrogs supply is currently listed on Opensea.DeFrogs is tradable on supported exchanges and NFT marketplaces, Defrog is listed on exchanges such as MEXC, CoinW, BingX and AscendEX(BitMax). At the time of writing the market cap of DeFrogs is $11.9m and is currently trading at $1,050. DeFrogs have established themselves as not just one of the key ERC-404 projects but one of the major projects of 2024 so far.With more than enough room for growth and its ever-growing community, DeFrogs is poised to attain blue-chip status. Other ERC-404 Projects Apart from DeFrogs, there have been other ERC-404 projects pushing the narrative forward. One such project is Pandora: A collection of 10,000 ERC-404 tokens created by the pseudonymous “Ctrl” and “Acme” the creators of the experimental token standard. Pandora is the very first ERC-404 token making it the first semi-fungible ERC-404 token to be listed and traded on a centralized exchange. With a positive reception, Pandora has seen its market cap climb over $200m since its launch via Uniswap. The Future of ERC-404The ERC-404 is still “experimental” This means it is an unofficial token standard because it has not undergone an EIP review, the Ethereum Improvement Proposal (EIP) is the process of introducing a new feature or functionality to Ethereum. Despite this, the innovative nature of this standard has made its reception more positive and there are indeed plans to submit an official Ethereum Improvement Proposal for the new token standard. What DeFrogs and other ERC-404 tokens have done is nothing short of revolutionary the idea of owning an NFT and a fungible token combined in a single token is very attractive to crypto enthusiasts this accounts for the positive price action that followed ERC-404 projects at launch. The future of the ERC-404 token standard is worth looking forward to.Tap to try 👉binance.com/web3wallet#ERC-404 #TrendingTopic

In the ever-evolving landscape of Web3 and decentralized technologies, non-fungible tokens ( #nfts ) have captured the imagination of creators, collectors, and investors alike. These unique digital assets, often associated with art, music, and virtual real estate, have become a significant force in the crypto space. However, they also come with their share of challenges, including security risks and phishing attacks.
Enter #ERC-404 , an experimental and unofficial Ethereum token standard that aims to address some of these issues. Let’s dive into what ERC-404 is, how it works, and its potential impact on the NFT ecosystem.
What Is ERC-404?
ERC-404 is not your typical NFT standard. It combines elements from two existing standards: #ERC-20 (used for fungible tokens) and #ERC-721 (used for non-fungible tokens). The result is a hybrid token that offers unique features and possibilities.
Shared Ownership and Reduced Phishing Risk
The standout feature of ERC-404 is shared ownership. Unlike traditional NFTs, which are usually associated with a single wallet address, ERC-404 tokens can be owned by multiple wallets simultaneously. Here’s how it works:
Multiple Owners: An ERC-404 token can have several owners, each holding a fraction of the token. This shared ownership model distributes control and reduces the risk of a single point of failure. Even if one wallet is compromised, the NFT remains secure as long as other owners maintain control.Phishing Mitigation: Phishing attacks targeting individual wallets have plagued the NFT space. By allowing multiple wallets to collectively own an NFT, ERC-404 makes it harder for malicious actors to exploit unsuspecting users. Even if one owner falls victim to phishing, the NFT’s integrity remains intact.
Tokenization of Exposure
Another intriguing aspect of ERC-404 is the concept of tokenizing exposure. Imagine you own a fraction of a valuable digital artwork—an NFT representing a famous painting, for instance. With ERC-404, you can tokenize your partial ownership. Here’s how it benefits you:
Liquidity and Trading: Fractional ownership tokens can be traded on decentralized exchanges (DEXs) or specialized platforms. Investors can buy and sell these tokens without needing to acquire the entire NFT. This liquidity unlocks new possibilities for NFT markets.Staking and Collateral: Tokenized exposure allows you to stake your holdings or use them as collateral in DeFi protocols. You retain ownership while leveraging the value of the NFT for other financial activities.
Challenges and Considerations
While ERC-404 introduces exciting possibilities, it’s essential to approach it with caution:
Smart Contract Risks: As an experimental standard, ERC-404 may have undiscovered vulnerabilities. Users should thoroughly review smart contracts and exercise due diligence.Regulatory Uncertainties: The legal and regulatory landscape for NFTs and tokenized assets is still evolving. ERC-404’s novel features may attract scrutiny or require legal clarity.Adoption and Interoperability: Widespread adoption of ERC-404 depends on wallet providers, exchanges, and developers embracing the standard. Interoperability with existing NFT platforms is crucial.
Conclusion
ERC-404 represents a bold step toward reimagining NFT ownership and security. While it’s not a direct antidote to NFT #phishing , its shared ownership model and tokenization features offer intriguing possibilities. As the Web3 ecosystem continues to evolve, keep an eye on ERC-404 and its impact on the future of digital ownership. 🌐🔒