X404 Protocol
X404 is a brand-new NFT protocol based on the XRGB interoperability protocol and the ERC404 protocol. For the first time, it converts ERC721 and ERC1155 assets into multi-chain ERC404 assets, significantly enhancing the liquidity and transactional properties of NFTs. The design diagram is as follows:
The main design points are:
Anyone can add whitelist NFT assets, provide liquidity for NFTs, and receive a portion of the transaction fees subsequently.
Each different type of NFT is an X404 contract, which is an extended ERC404 contract.
After depositing NFTs, users will receive X404 tokens and can redeem their assets with priority within a specified period. After the redemption period expires, others can exchange for the assets by collecting a certain number of ERC404 tokens, which requires an extra transaction fee.
X404 tokens can be transferred across multiple chains through the XRGB protocol, making them tradable on various DEXs.
The XRGB token is a governance token. Holders can govern protocol parameters, such as liquidity rewards, redemption time, fees, etc.
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