What is Pandora?
Pandora is the first collection/token to leverage the ERC404 standard. Pandora is also the team which first developed the ‘unofficial’ ERC404 standard.
Background
The Pandora team developed Pandora in early February after the EMERALD token introduced them to the concept of NFTs paired with tokens.
Pandora was the first ERC404 token on the market.
How Does It Work
As an ERC404, Pandora consists of NFTs and fungible tokens. There are 10K PANDORA tokens and 10K Pandora boxes. As an ERC404, ownership of 1 full token means you also receive the NFT and vice versa. Users will always have both if the wallet controls a full token or an NFT.
Like a fungible token, $PANDORA trades on AMMs, but like an NFT, it is also possible to trade Pandora boxes on NFT platforms like Blur or Opensea. If a user purchases $PANDORA in an AMM, the contract automatically mints them an NFT. If the user buys a Pandora box, they automatically get a $PANDORA token.
Key Takeaways
- Pandora is the first collection/token to leverage the ERC404 standard.
- The Pandora team developed Pandora in early February after the EMERALD token introduced them to the concept of NFTs paired with tokens.
- As an ERC404, Pandora consists of NFTs and fungible tokens. Ownership of 1 full token means you also receive the NFT and vice versa.
- Like a fungible token, $PANDORA trades on AMMs, but it is also possible to trade Pandora boxes on NFT platforms like an NFT.
