Exploring MS404: The MintSwap Native Asset Built upon ERC-404 Standard
In an era of rapid blockchain technology advancements, innovation never stops, particularly in the NFT space. Recently, MintSwap introduced a new asset called MS404, bringing fresh possibilities to the NFT market. MS404 is a unique native asset built upon the ERC-404 standard, marking technological progress and new opportunities for decentralized trading and finance.
The Unique Benefits & Utilities of MS404
MS404 is built on the cutting-edge ERC-404 standard, a revolutionary protocol that seamlessly blends the characteristics of both ERC-20 tokens and ERC-721 NFTs. This unique combination opens up a world of possibilities for ownership, trading, and utility within the MintSwap ecosystem.
Embracing Innovation with MS404 and $MST
Built upon the ERC-404 standard, MS404 seamlessly combines the features of the ERC-20 and ERC-721 token standards. This unique combination unlocks endless possibilities for ownership, trading, and utility within the MintSwap ecosystem.
Looking back over the past six months, ERC-404 has been one of the most exciting innovations in the Ethereum ecosystem for asset issuance. ERC-404 is an experimental token standard open-sourced by the Pandora team in early February for creators and developers, featuring a hybrid ERC-20/ERC-721 implementation with native liquidity and fractionalization. This is achieved through a quantitative correspondence logic between FTs and NFTs, realized via the “minting and burning” mechanism of NFTs.
💡 Why Choose ERC-404
MintSwap’s decision to adopt the ERC-404 standard is driven by several key reasons:
- Perfect Alignment: MintSwap is the first and only protocol on the Mint Blockchain to offer both NFT and token DEX functionality. The dual nature of ERC-404 aligns perfectly with MintSwap, creating a seamless and intuitive experience for users.
- Pioneering Spirit: As the first swap protocol to implement ERC-404, MintSwap is at the forefront of innovation in the NFT space. We are committed to exploring the full potential of this emerging standard and providing our users with access to cutting-edge technology.
- Innovative Economic System: MintSwap has successfully developed an innovative economic model that leverages the unique asset and product attributes of ERC-404. This novel system unlocks new possibilities for value creation and user engagement within the MintSwap ecosystem.
The MS404 and $MST Economic System
Total MS404 Supply: 10,000 NFTs
1 MS404 NFT = 10,000 $MST (each MS404 NFT can be seamlessly converted into 10,000 $MST tokens)
Token Decimals: 18
The MS404 series consists of 10,000 unique NFTs with a fixed supply and no planned future issuance. Each MS404 NFT can be seamlessly converted into 10,000 $MST tokens (the native asset of the MintSwap), ensuring a granular and flexible system for trading and utilizing these assets.
MS404 Allocation
🔥 Presale: 30% (3,000 pieces)
During the presale event, a limited number of MS404 NFTs will be available for purchase. This opportunity allows users to acquire MS404 NFTs early and immediately participate in the MS404 economic system.
🔥 MintSwap Mining Rewards: 60% (6,000 pieces)
The majority of MS404 NFTs will be distributed as rewards to active participants within the MintSwap ecosystem. This allocation is divided into two parts:
1/ LP Rewards: 20% (2,000 pieces) These rewards are designed to incentivize liquidity provision in key pools on the MintSwap DEX. They will be distributed over 12 months, with different pools receiving varying weightings. Rewards will be calculated and distributed hourly, ensuring a fair and transparent system for all LPs.
- ETH/USDT Pool: 25%
- ETH/USDC Pool: 25%
- ETH/MST Pool: 50%
2/ Trading Rewards: 40% (4,000 NFTs) These rewards aim to encourage active trading on the MintSwap DEX and NFT marketplace. The rewards will be proportionally allocated based on the trading fees generated by each user, calculated and distributed hourly. For the DEX, trading rewards will only apply to the aforementioned core pools.
🔥 Initial Liquidity: 10% (1,000 NFTs)
This allocation will be used to create initial liquidity for the ETH/MST trading pair on the MintSwap DEX, ensuring a smooth and efficient trading experience from day one.
MS404 Presale: Early Access Portal Opening Soon
During the presale event, a limited number of MS404 NFTs will be available for purchase. This opportunity allows users to acquire MS404 and $MST assets early and participate in the MintSwap economic system.
Presale Event Details:
Date: To Be Announced
Minting Price: To Be Announced
Presale Supply: 3,000 MS404 NFTs
Shaping the Future: MS404 and $MST
With the introduction of MS404 and $MST, MintSwap is pushing decentralized trading and finance to new heights on the Mint blockchain. By innovatively connecting the functionalities of the ERC-20 and ERC-721 standards, MintSwap is setting a new benchmark for the multifunctionality and utility of digital assets. The economic allocation design of MS404 enables the community to drive innovation and create value within the MintSwap ecosystem.
MS404 NFTs and $MST tokens are poised to usher in a new era for MintSwap, providing users with exclusive rewards, governance rights, and the opportunity to shape the future of decentralized finance. The MintSwap ecosystem will continue to push the boundaries of innovation, transparency, and community involvement.
Conclusion
By adopting the ERC-404 standard, MintSwap not only enhances asset liquidity and utility but also opens up new avenues for trading and investing for users. As the MintSwap ecosystem evolves, MS404 and $MST will bring more innovative experiences and value-creation opportunities to users.
The launch of MS404 and $MST represents not only technological progress but also a new step forward in the realms of decentralized finance and NFTs. MintSwap’s innovative design and economic model provide users with more trading and participation opportunities, driving the development and application of blockchain technology!
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