Token Standard
Last updated
Last updated
The ERC-404 token standard combines the unique qualities of NFTs (ERC-721) with the liquidity of ERC20 tokens, creating a semi-fungible token standard that combines characteristics of both. Making it ideal for launching art and meme collections. It introduces fractional ownership, allowing more people to have fractional ownership of digital assets. The "minting and destruction" of NFT is realized through the quantity correspondence logic between FT and NFT, which increases participation and improves transaction flexibility compared with traditional NFT.
Combined with the Bonding Curve model, Pump404.fun proposed the Pump-404 standard based on ERC-404.
Total amount of Tokens: 1 billion Tokens;
Total number of NFTs: 10,000 NFTs;
NFT generation: Holding 100,000 Tokens will automatically and randomly generate an NFT. If your address holds less than 100,000 Tokens, NFT cannot be generated.
Relationship between tokens and NFTs:
Ownership
100,000 ERC20 tokens held in the wallet = 1 NFT held in the wallet,
Holding less than 100,000 ERC20 tokens in the wallet = no ownership of 1 NFT,
Once 100,000 ERC20 tokens are collected in the wallet, a new NFT will be minted.
Transferring
Transfer one NFT = transfer 100,000 ERC20 tokens,
Transfer 100,000 ERC20 tokens = destroy one NFT,
Transferring some tokens and holding less than 100,000 ERC20 tokens will destroy the NFT.
Important Reminder: Token and NFT holders need to be aware that transferring any portion of their tokens may result in the destruction of their NFTs. This can significantly impact the value and composition of their digital assets, so careful management is important. In order to keep the NFT, the holder must ensure that the entire NFT is transferred, not just the token.
