Layer 1 blockchain Injective launched the CW-404 customary, a reproduction of the wildly well-liked experimental token customary ERC-404, for its community on Friday.
The Cosmos-based Injective is teaming up with decentralized trade DojoSwap to supply the CW-404 customary. CW-404 is a port of the ERC-404 and combines the CW-20 and CW-721 requirements.
ERC-404 is an unofficial Ethereum customary 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 hundreds of thousands of {dollars} price to the Ethereum ecosystem however has additionally been criticized for referencing the official “ERC” identify. As a class, ERC-404 tokens are collectively price over $173 million, knowledge from CoinMarketCap reveals, regardless of having been launched simply over two weeks in the past.
The CW-404 is a means for Injective to carry a number of the funding from Ethereum to its personal community.