PANDORA（Pandora) Project Analysis
1. Research Institute Comments:
Pandora is an NFT fractionalization project that went live on February 2nd, utilizing the core technology of the ERC404 token standard. Users can purchase the project's namesake token, PANDORA, on Uniswap V3 to obtain ERC404 tokens, effectively fractionalizing ownership of its NFTs - Pandora Replicants. Additionally, Pandora Replicants can be directly purchased on OpenSea.
2. Recent Breakout Points:
The project has achieved seamless interchangeability between NFTs and tokens, presenting a novel protocol. Users purchasing more than one token in the pool directly mint an NFT, and they can also sell their NFTs directly. This bypasses the issues faced by NFTfi products like blur GEM, solving the problem of being unable to deliver without bids for NFTs.
3. Project Introduction:
Pandora is the first ERC404, an experimental hybrid of ERC20 / ERC721 implementation, offering native liquidity and fractionalization of non-fungible tokens. For each token held, an address receives a replica from the corresponding NFT collection. This innovation provides persistent liquidity and semi-interchangeability for all assets in the collection. In its current implementation, ERC404 effectively isolates ERC20 / ERC721 standard logic or introduces pathways where possible.
4. Token Utility:
Pandora has not publicly disclosed its economic model, but it's observed that both PANDORA tokens and Pandora Replicants have a total supply of 10,000. Approximately 5,000 tokens are currently circulating, with the team purchasing 5,000 tokens from the market during the initial launch for project operations and team rewards. Additionally, the team retains 700 tokens for linear release via Sablier, distributed over one month.
6. Project Highlights:
ERC404 tokens represent a novel token standard that combines features of ERC20 and ERC721, achieving liquidity and fractionalization for NFTs. Each ERC404 token corresponds to a Replicant NFT, both of which have limited quantities and rarity. When users trade or transfer ERC404 tokens, it triggers the burning and recasting of Replicant NFTs, meaning their appearance and attributes change randomly. Thus, if users are dissatisfied with their NFT, they can continuously transfer it to refresh the NFT until they obtain one they like.
7. Investment Institutions:
Twitter has 20,500 followers, and the Telegram group has 4,574 members.
9. Special Economic Models:
10. Future Outlook:
Pandora achieves NFT fractionalization through the ERC404 format, presenting a novel mechanism. The ERC404 token also provides good liquidity for NFTs, allowing users to directly sell ERC404 tokens on DEXs without waiting for buyers on NFT marketplaces.
Project Introduction: Pandora is the first ERC404, an experimental hybrid implementation of ERC20 / ERC721, providing native liquidity and fractionalization of non-fungible tokens (NFTs). For each token held, an address receives a replica from the corresponding NFT collection. This innovation provides persistent liquidity and semi-interchangeability for all assets in the collection. In its current implementation, ERC404 effectively isolates ERC20 / ERC721 standard logic or introduces pathways where possible.
Token Full Name: Pandora
Token Name: PANDORA
Project Website: https://www.pandora.build/
Project Documentation: N/A
Liquidity Tracker: https://etherscan.io/token/0x9e9fbde7c7a83c43913bddc8779158f1368f0413#tokenTrade
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