Layer 1 blockchain Injective launched the CW-404 commonplace, a reproduction of the wildly well-liked experimental token commonplace ERC-404, for its community on Friday.
The Cosmos-based Injective is teaming up with decentralized alternate DojoSwap to supply the CW-404 commonplace. CW-404 is a port of the ERC-404 and combines the CW-20 and CW-721 requirements.
ERC-404 is an unofficial Ethereum commonplace that enables a number of wallets to straight personal a single non-fungible token (NFT) and offers its holders the power to create a use case the place that particular publicity could be tokenized and used to take out loans or stake holdings.
The usual introduced in thousands and thousands of {dollars} value to the Ethereum ecosystem however has additionally been criticized for referencing the official “ERC” title. As a class, ERC-404 tokens are collectively value over $173 million, knowledge from CoinMarketCap exhibits, regardless of having been launched simply over two weeks in the past.
The CW-404 is a means for Injective to carry among the funding from Ethereum to its personal community.
