“Divisible NFT” Newcomer DN404 Promises Improved Features Over ERC-404

2 weeks ago 11
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“Divisible NFT” Newcomer DN404 Promises Improved Features Over ERC-404

New advancements are constantly being made to improve existing protocols, and one such development is DN404. It aims to challenge ERC-404, a recently launched hybrid token and non-fungible token standard. DN404, also known as “Divisible NFT”, introduces exciting new capabilities.

At its core, DN404 aims to enable seamless fractionalized trading of Non-Fungible Tokens (NFTs). This creates the ability to divide ownership of an NFT into smaller, tradable units that can be easily traded across different exchanges. Similar to ERC-404, DN404 is a hybrid token that combines features from the ERC-20 and ERC-721 standards. However, DN404 claims to have built-in fractionalization features. It consists of two key components: a base ERC-20 contract for facilitating fractional trading and an ERC-721 contract for minting and burning NFTs.

According to cygaar, the pseudonymous developer of DN404, this approach fully complies with existing protocols while unlocking new possibilities. Whenever the fractional tokens from the base contract are transferred between wallets, the corresponding NFTs are i...


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“Divisible NFT” Newcomer DN404 Promises Improved Features Over ERC-404