ERC404 Pandora (PANDORA) Preis

About ERC404 Pandora

ERC404 Protocol: Ethereum's Sole Growth Engine in 2024

As Ethereum progresses into 2024, its infrastructure development has matured, but the ecosystem lacks innovation in new projects. Consequently, investors are not optimistic about Ethereum's performance in 2024. The sole reason that can drive Ethereum's price to surpass Bitcoin is the ERC404 protocol.

Key Features of ERC404 Protocol

The ERC404 protocol combines elements of the ERC20 and ERC721 protocols, possessing dual properties of NFTs and tokens and facilitating conversion between tokens and NFTs.

ERC20 Protocol: Token protocol deployed on Ethereum smart contracts. Currently, all popular meme tokens on Ethereum use the ERC20 protocol.

ERC721 Protocol: NFT fractionalization protocol. It allows fractional trading of a single NFT in the NFT market.

Since the ERC20 protocol cannot provide liquidity for NFTs, many community users issue tokens using the NFT's name and personal influence. The prices of these tokens do not affect the NFT itself. The ERC721 protocol can only trade specific NFT fractions, making its use cases limited.

Following the emergence of the ERC20 protocol, a new area known as NFTfi, allowing NFT lending, has been established. Additionally, with the ability to convert between NFTs and tokens, the practice of individuals issuing tokens under the NFT name becomes meaningless. Large meme communities can utilize ERC404 to convert meme tokens into NFTs.

With the properties of tokens, NFTs' liquidity significantly increases, leading to an increase in meme token prices.

Not only meme tokens, but any Ethereum token can utilize ERC404 to convert a portion of tokens into NFTs, turning NFTs into tokens. When users mint a common NFT, they can use ERC404 to convert the NFT into tokens and sell them on exchanges, greatly accelerating transactions.

In the current Ethereum ecosystem lacking innovation, ERC404 changes the fate of tokens and NFTs, not only saving Ethereum but also bringing it back to its peak.

What Is Pandora Token?

Pandora is the first token of the ERC404 protocol. The ERC404 protocol is also known as the Pandora protocol because the founder deployed an NFT using ERC404 after creating the ERC404 protocol, named Pandora. To distinguish it from the current Pandora lending protocol, the full name of this protocol is ERC404 Pandora Protocol.

The biggest point of Pandora is that the vast majority of its NFTs and tokens are held by whales, so the identities of the token holders are mostly wealthy individuals in the industry or those with a certain level of influence. Although we don't know who they are, we can only see the wallet addresses, this is undoubtedly a very valuable Crypto Contacts List. Pandora's official statement states: Any project using the ERC404 protocol can find Pandora and airdrop to Pandora holders.

Many people know that, for example, the famous SHIB token, at that time, a portion of the tokens was airdropped to Vitalik, which then gained market effects. Those holding BAYC NFT tokens are all wealthy, becoming a symbol of identity. So, who holds the tokens/NFTs will affect the price trend of the tokens/NFTs.

It can be predicted that, with the use of the ERC404 protocol, whether or not airdrops will be made to Pandora's wallet addresses, will cause an increase in the price of Pandora.