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What is DN-404 and Why Should You Care About Hybrid DeFi? TL;DR: It’s an NFT that’s also a token! A DN-404 is a dual token combining fungible ERC20 tokens and non-fungible 721 NFTs. Minted via Ethereum’s DN-404 standard, each NFT in a DN-404 collection represents x number of tokens. The exact number of tokens per NFT can vary based on the collection’s unique tokenomics—rarity can also affect the token allotment per NFT.
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Setter
@setter
Why Does This Matter? DN-404 brings the best of both worlds, blending fungible tokens and non-fungible tokens: Fungibles: • Instant liquidity • Lower barrier to entry • Larger community • Attracts interest from DeFi/Crypto natives Non-fungibles: • Unique art and traits • Brandable PFPs • ‘Re-roll’ for rare traits • Huge potential for in-game items & lootboxes
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@setter
Learn More About Dual Tokens The DN-404 token sits at the heart of the Setter ecosystem, offering the perfect hybrid of fungible and non-fungible elements. This includes the $STR token (ERC-20) and the Setter Pass NFT (ERC-721), which provide both utility as rewards and essential access within the Setter network.
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@setter
Dynamic Ownership The DN-404 token can adjust based on user actions: • If your DN-404 amount is less than x, it behaves like a fractional ERC-721, allowing you to trade partial ownership. • If the DN-404 amount equals or exceeds x, you receive full NFT benefits alongside ERC-20 functionality.
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@setter
Why It’s Flexible DN-404 extends traditional tokens’ capabilities with features like: • Direct Token Transactions: Send and receive DN-404 like any ERC-20 or ERC-721 token. • Fractional and Full Ownership: Buy, sell, or trade fractional parts of DN-404, or own the full NFT for complete ownership. • Cross-Platform Utility: Use DN-404 across different platforms and exchanges, maximizing its utility within the Setter ecosystem and beyond.
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