Developers Launch an ERC-404 Competitor

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A team of developers has recently released a new implementation of the experimental ERC-404 token standard, called DN-404. This alternative was created by the Pandora team in early February with the goal of integrating ERC-20 and NFT (ERC-721) assets.

The idea behind this standard is to enable the splitting of non-fungible tokens, allowing parts of them to be divided and combined. However, the safety of the unaudited standard was called into question by the community.

Quit, a Solidity developer and auditor, pointed out that while ERC-40 successfully combines the functionalities of the two original protocols, there may be issues with differing solutions, such as transaction confirmation mechanisms.

This could potentially leave room for exploits. To address this problem, Quit joined the team behind DN-404, which aims to improve upon the ERC-404 idea by addressing any known vulnerabilities.

In their approach, instead of using a single contract as in the original standard, they opted for two contracts – a “base” (ERC-20) and a “mirror” (ERC-721). This allows them to function as independent products with a clear purpose.