Combination of Erc20 and Erc721 on the Ethereum network

[Metha Wulandarin]

In this week the gass fee continues to rise due to the ERC404 which is hype in addition to the Eigenlayer and its ecosystem.

What is ERC404 ?
You can read here
>>ERC404
Binance and BYBIT have already discussed on Twitter about this Erc404
From the first we know that the token is divided into two, namely ERC20 standard tokens and non-fungible ERC721 standard tokens that combine Erc20 and Erc721 with this gas fee on the L1 and L2 networks is very dense and the gas fee continues to increase, earlier I minted on the BASE L2 network spending a gas fee of almost $2 this is very unnatural for the L2 network if the L1 network is cheap but if the L2 network is expensive which usually only spends $0.1-$0.2.
What do you think about this Erc404 and what do you think of this Erc404 standard token?

[damsix]

In this week the gass fee continues to rise due to the ERC404 which is hype in addition to the Eigenlayer and its ecosystem.

>>ERC404

if the L1 network is cheap but if the L2 network is expensive which usually only spends $0.1-$0.2.
What do you think about this Erc404 and what do you think of this Erc404 standard token?

If your problem is transaction fees, then this will definitely be a very reasonable discussion because in the past, Ethereum gas has continuously increased if there is a new project on the Ethereum network.
For example, previously NFTs were trending on the Ethereum network, so the result was that Ethereum transaction gas fees were also expensive because many people printed NFTs using Ethereum gas.
Now it's the same, the presence of the ERC404 standard token will definitely end up discussing expensive transaction gas fees, I think this is normal.

The ERC-404 token standard enables native fractionalization of NFTs, creating new primitives and new mechanics built atop them. This, in turn, allows for experimentation with NFTs and the trading of them.
The token standard's creators suggest that the goal is to create an NFT with "native fractionalization, liquidity and encourages some aspects of trading/engagement to farm unique trait sets."

Reading from the website you provided, I don't really understand how ERC404 works and maybe I need time to learn it.
I am sometimes amazed by the presence of Ethereum coin developments such as the ERC404 standard token but there is a negative because the gas fees you mentioned have also increased.

[Metha Wulandarin]

If your problem is transaction fees, then this will definitely be a very reasonable discussion because in the past, Ethereum gas has continuously increased if there is a new project on the Ethereum network.
For example, previously NFTs were trending on the Ethereum network, so the result was that Ethereum transaction gas fees were also expensive because many people printed NFTs using Ethereum gas.
Now it's the same, the presence of the ERC404 standard token will definitely end up discussing expensive transaction gas fees, I think this is normal.

In my opinion, it is not normal because before ETH V2.0, ETH switched from (PoW) to (PoS), transaction fees on ETH were very high and since ETH V2.0 transaction fees are cheaper and for transaction fees on L2, the average transaction fee is less than $2.

Reading from the website you provided, I don't really understand how ERC404 works and maybe I need time to learn it.
I am sometimes amazed by the presence of Ethereum coin developments such as the ERC404 standard token but there is a negative because the gas fees you mentioned have also increased.

The easiest to understand example of ERC404 goes like this

You can sell NFTs just like you sell coins on DEX.
This is still under development and for now only the SyncSwap project is doing this on the zkSync Era L2 network of the ETH mainet network.
I think it's simpler and more flexible because we don't need to enter the NFT market website and don't need to set the price because most people set the price wrong in the NFT market which results in a big mistake.

[MrSpasybo]

You can sell NFTs just like you sell coins on DEX.
This is still under development and for now only the SyncSwap project is doing this on the zkSync Era L2 network of the ETH mainet network.
I think it's simpler and more flexible because we don't need to enter the NFT market website and don't need to set the price because most people set the price wrong in the NFT market which results in a big mistake.

I doubt the feasibility of this solution, because if we can trade these NFTs too easily, their uniqueness will disappear because many NFTs will cost the same. Trading of this type has existed on DefiBox (EOS) for a long time with Pomelo NFTs. Every NFT costs the same, which limits or destroys the uniqueness of the NFT.

The existence of the NFT Marketplace is maintaining this uniqueness and we see each NFT priced very differently even though they are all in the same collection. I believe this is what is needed for NFTs.

I think ERC-404 will be adopted for a few distinct purposes in the future: for example 1000 identical NFTs, worth an outfit in GameFi, or 1000 identical NFTs representing ownership Music album, which is about to be released.

Anyway I will wait for the widespread adoption of ERC-404 and its uses from new projects 

[MUGNIA]

What do you think about this Erc404 and what do you think of this Erc404 standard token?

ERC404, to be honest, I just got this information, I still need to investigate this problem further.
After I read the article you provided here, the author said that this token is still not official so it is still very risky to transact, but to test the feasibility test, you should use this, if the fees offered are cheaper, there is no harm in continuing with this token.
Hopefully in the future more projects will use this token and it will be mass adopted by new projects

[damsix]

Now it's the same, the presence of the ERC404 standard token will definitely end up discussing expensive transaction gas fees, I think this is normal.

In my opinion, it is not normal because before ETH V2.0, ETH switched from (PoW) to (PoS), transaction fees on ETH were very high and since ETH V2.0 transaction fees are cheaper and for transaction fees on L2, the average transaction fee is less than $2.

When Ethereum was still POW, the price of Ethereum was probably under 500 USD and the fee was definitely cheap because calculating from decimal 1 Ethereum was equivalent to 500 USD.
After Ethereum changes to POS, the price of Ethereum may be above 1700 USD or more and the fees will definitely be expensive because the fee is calculated from 1 Ethereum equal 1700 USD.

Unfortunately, Ethereum's current position is V2.0, where the price of Ethereum is already expensive, above 2000 USD and there are more and more L2 projects, NFTs, ERC404 standard tokens, etc.
If later the price of Ethereum is 10,000 USD and the position is still POS with V2.0 and the fee for one transaction is around 50 USD, would you still say that currently the transaction fee of 2 USD is expensive??

You can sell NFTs just like you sell coins on DEX.
This is still under development and for now only the SyncSwap project is doing this on the zkSync Era L2 network of the ETH mainet network.
I think it's simpler and more flexible because we don't need to enter the NFT market website and don't need to set the price because most people set the price wrong in the NFT market which results in a big mistake.

So what do you mean is that if I sell this ERC404 NFT token, I can sell it directly on the DEX without having to open an NFT website like Opensea?

[IyemRoker]

What do you think about this Erc404 and what do you think of this Erc404 standard token?

ERC404 seems to be a new trend for Ethereum or a new hype that has just emerged at the moment and it will only make Ethereum transaction fees even more expensive due to excessive traffic jams.
We still remember the hype about NFTs which greatly increased the rating of the Ethereum coin and made transaction fees very expensive and congested.

Let's see how long the hype from the ERC404 standard token lasts, because I see that the hype from NFTs has also faded over time.
Have you invested in this ERC404 standard token?
If you have invested or bought it, what type of ERC404 token is it?

[Metha Wulandarin]

I think ERC-404 will be adopted for a few distinct purposes in the future: for example 1000 identical NFTs, worth an outfit in GameFi, or 1000 identical NFTs representing ownership Music album, which is about to be released.

Anyway I will wait for the widespread adoption of ERC-404 and its uses from new projects 

Yes, you are right, erc404 will eliminate the uniqueness of the NFT, NFT rare and NFT common the price will be the same, this is currently a problem and is being developed, this includes the shortcomings of erc404.

ERC404, to be honest, I just got this information, I still need to investigate this problem further.
After I read the article you provided here, the author said that this token is still not official so it is still very risky to transact, but to test the feasibility test, you should use this, if the fees offered are cheaper, there is no harm in continuing with this token.
Hopefully in the future more projects will use this token and it will be mass adopted by new projects

This is just one of the benefits provided by the erc404 network, so we don't have to wait long to sell the NFTs we have, if we usually have to wait for people to buy them.
For the time being it's only on the zkSync Era network but it's still being tested.

When Ethereum was still POW, the price of Ethereum was probably under 500 USD and the fee was definitely cheap because calculating from decimal 1 Ethereum was equivalent to 500 USD.
After Ethereum changes to POS, the price of Ethereum may be above 1700 USD or more and the fees will definitely be expensive because the fee is calculated from 1 Ethereum equal 1700 USD.

Unfortunately, Ethereum's current position is V2.0, where the price of Ethereum is already expensive, above 2000 USD and there are more and more L2 projects, NFTs, ERC404 standard tokens, etc.
If later the price of Ethereum is 10,000 USD and the position is still POS with V2.0 and the fee for one transaction is around 50 USD, would you still say that currently the transaction fee of 2 USD is expensive??

I once found an article that discussed transaction fees on the Ethereum network almost the same as your opinion and it is not wrong, but in my opinion the ETH transaction fee cannot be ascertained only by the price of Ethereum as you say why, because Ethereum transaction fees are flexible can be high and low depending on the density of transactions on the network.
I once made a transaction on the L2 Ethereum network for a fee of $1 at that time the Ethereum price was $2k, this is for transactions such as sending coins and claiming NFTs, it's different if you do a bridge, if the bridge depends on the platform.

So what do you mean is that if I sell this ERC404 NFT token, I can sell it directly on the DEX without having to open an NFT website like Opensea?

Yes, you are absolutely right so we don't have to go to the NFT market and wait for someone to buy our NFTs, this is one of the advantages of Erc404.

Have you invested in this ERC404 standard token?
If you have invested or bought it, what type of ERC404 token is it?

I haven't made any investments in this erc404 developer, ERC standard tokens have not undergone the vetting process common to all ERC standard tokens. Such as the submission of an improvement proposal (EIP). and the request for comments (ERC) stage,Since it has not undergone such a process and has not been audited, the project may have many weaknesses that can be exploited by irresponsible parties.

[IyemRoker]

I haven't made any investments in this erc404 developer, ERC standard tokens have not undergone the vetting process common to all ERC standard tokens. Such as the submission of an improvement proposal (EIP). and the request for comments (ERC) stage,Since it has not undergone such a process and has not been audited, the project may have many weaknesses that can be exploited by irresponsible parties.

1.Ethereum Improvement Proposal (EIP)
2.Ethereum Request for Comment (ERC)

So, according to your insight, the standard token from ERC404 has not been tested by 1.Ethereum Improvement Proposal (EIP) and 2.Ethereum Request for Comment (ERC), right?
And you also haven't bought or invested in this ERC404 standard token. But according to your insight, would it be a good opportunity if there were members who invested in this ERC404 standard token??

I mean, usually those who are pioneers in a project will provide infinite value and the increase can be more than 10x.
We can see the pioneers of the DRC20 token project from DOGE coins and BRC20 tokens from Bitcoin which have increased in value many times over,more than 10x.

[KryptoBull]

In this week the gass fee continues to rise due to the ERC404 which is hype in addition to the Eigenlayer and its ecosystem.
Binance and BYBIT have already discussed on Twitter about this Erc404

What do you think about this Erc404 and what do you think of this Erc404 standard token?

From what I understand, ERC20 + ERC721 = ERC404.
So, when I move 1 ERC404 token, the smart contract will trigger 2 orders: transfer 1 ERC20 token + transfer 1 ERC721 token. This will create complexity in the smart contract, making the gas fee for this transaction higher than for normal ERC20 and ERC721 transactions.

I don't know what the team of a project using ERC404 (e.g. Pandora) can do to reduce transaction fees, maybe Layer-2 like Arb, Op and Base is a better choice for ERC404 tokens.

PANDORA token price has increased sharply in the past few days, confirming investor interest in ERC404, which I hope is the beginning of the NFT trend's return in next uptrend.

[Metha Wulandarin]

1.Ethereum Improvement Proposal (EIP)
2.Ethereum Request for Comment (ERC)

So, according to your insight, the standard token from ERC404 has not been tested by 1.Ethereum Improvement Proposal (EIP) and 2.Ethereum Request for Comment (ERC), right?
And you also haven't bought or invested in this ERC404 standard token. But according to your insight, would it be a good opportunity if there were members who invested in this ERC404 standard token??

Yes
When it comes to investing into new models like Erc404, it is impossible for people like me to invest into Pandora tokens first because Pandora tokens are already very expensive and too high if I force my way in, maybe I will only be a real investor because the token has gone down.
Many people have invested in this Pandora project until now the Pandora coin continues to rise as if there is no sign of a decline so for this Erc404 project, we will see how it goes whether the Pandora developers succeed in solving problems in the field of liquity and transaction fees because in my opinion the Erc404 mechanism has three branches and it is closely related to liquity.

[IyemRoker]

1.Ethereum Improvement Proposal (EIP)
2.Ethereum Request for Comment (ERC)

So, according to your insight, the standard token from ERC404 has not been tested by 1.Ethereum Improvement Proposal (EIP) and 2.Ethereum Request for Comment (ERC), right?
And you also haven't bought or invested in this ERC404 standard token. But according to your insight, would it be a good opportunity if there were members who invested in this ERC404 standard token??

Yes
When it comes to investing into new models like Erc404, it is impossible for people like me to invest into Pandora tokens first because Pandora tokens are already very expensive and too high if I force my way in, maybe I will only be a real investor because the token has gone down.
Many people have invested in this Pandora project until now the Pandora coin continues to rise as if there is no sign of a decline so for this Erc404 project,

In the main topic you wrote an example for the LIBERTAS coin, but now you reply with an example of the PANDORA token, are these two coins the same from the Ethereum L1 token base which has a standard ERC404 token base or are LIBERTAS and PANDORA different?
I'm confused about how to digest each of your posts this time and I also don't see the "dot (.)" and "comma(,)" that match your words, sorry.

we will see how it goes whether the Pandora developers succeed in solving problems in the field of liquity and transaction fees because in my opinion the Erc404 mechanism has "three branches" and it is closely related to liquity.

What are meant by these three branches?
I don't understand what you mean by these three branches?
Is it a new token, network, blockchain, transaction or is that what you mean by three branches?

[Metha Wulandarin]

~

I'm sorry if I wrote or said something wrong because I'm not very good at English.
All your questions will be answered here, please check and read carefully and understand.
https://medium.com/@themintland/what-is-erc-404-a-guide-to-the-new-standard-in-nfts-e42461d844e1

[EthereumDev_]

Yes
When it comes to investing into new models like Erc404, it is impossible for people like me to invest into Pandora tokens first because Pandora tokens are already very expensive and too high if I force my way in, maybe I will only be a real investor because the token has gone down.
Many people have invested in this Pandora project until now the Pandora coin continues to rise as if there is no sign of a decline so for this Erc404 project, we will see how it goes whether the Pandora developers succeed in solving problems in the field of liquity and transaction fees because in my opinion the Erc404 mechanism has three branches and it is closely related to liquity.

As far as I know, ERC-404 is a new token standard on Ethereum which combines the functionality of fungible (ERC-20) and non-fungible (ERC-721) tokens. With ERC-404, for me it is almost the same as NFT because it is used in several gaming sites, digital artwork and decentralized finance (DeFi). Meanwhile, if you currently have a lot of users, you must remain vigilant because it has a higher risk and so far there has been no bad news attacking the ERC-404 so it still looks like it is fine.

[Metha Wulandarin]

As far as I know, ERC-404 is a new token standard on Ethereum which combines the functionality of fungible (ERC-20) and non-fungible (ERC-721) tokens. With ERC-404, for me it is almost the same as NFT because it is used in several gaming sites, digital artwork and decentralized finance (DeFi). Meanwhile, if you currently have a lot of users, you must remain vigilant because it has a higher risk and so far there has been no bad news attacking the ERC-404 so it still looks like it is fine.

Thank you for commemorating me.
I haven't done anything on erc-404 I'm still waiting for the results from the developers, now I'm just using paymaster on the zkSync network.
Only a few Dex platforms support paymaster, with paymaster we no longer need ETH for transaction fees on zkSync.