ERC404P

ERC404P stands for ERC404Pro, which is an upgraded version of ERC404 Protocol.

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Last updated 1 year ago

ERC404P

ERC404P stands for ERC404Pro, which is an upgraded version of ERC404 Protocol.

Why Do We Introduce ERC404P?

The emergence of the ERC404 protocol has opened the Pandora's box for the NFT and GameFi tracks. As a team with a long-term focus on NFT and GameFi, we are excited about this and launched $EGGX at the earliest opportunity. However, we encountered some issues and unmet needs when developing GameFi applications using ERC404.

Based on our understanding of the GameFi world and the technical resources accumulated in smart protocol, we decided to launch the upgraded version ERC404P, continuing the concept of integrating token and NFT and providing ERC404 developers with more practical and interesting extensions. ERC404 is a concise and wonderful protocol that we cannot replace. ERC404P is born to explore more possibilities of ERC404, especially in the GameFi world.

$EGGX is the Equity Token of ERC404P

Projects adopting the ERC404P protocol can contact us to interact with the $EGGX community and participate in airdrops. For partners with deep cooperation, we will also provide more interesting extension technologies for support.

ERC404P Protocol Key Features

Conversion Formula: 1 NFT (ERC721) = 10,000 Tokens (ERC20).
Self-service Conversion Method: Transferring a quantity of 10,000n tokens to the token contract will yield n NFTs, and any remaining tokens less than 10,000 will be automatically refunded. Transferring NFTs to the token contract will yield 98% of the tokens, with the remaining 2% automatically sent to a black hole address for burning. The purpose of the destruction mechanism are: to increase the value of scarce attribute NFTs and to facilitate the economic model of blind boxes and collectibles gameplay.
Significantly reduced gas fees when transferring tokens.
NFT IDs are stored in a queue and reused, ensuring that the ID number does not continually increase during minting, thereby preserving the scarcity of attributes.
Partial implementation of the IERC721Enumerable.sol interface provides convenience for DApp development.
Simple Fair Minting is achieved through token transfers to the token contract.

ERC404P code is now open source and launched!

Github:

We hope more NFT and Gamefi teams will join us to improve ERC404P together.

For projects interested in further collaboration, we will provide additional interesting technical support.