MetaStreet Will Launch $MSTR AS
MetaStreet will launch its governance token, $MSTR, as an ERC404, addressing liquidity challenges while integrating a governance token into the newly experimental design.
The Deets
- Innovative Finance: ERC404 combines the best of ERC20 and ERC 721 NFT features for liquidity and governance.
- MetaStreet Evolution: From a permissionless interest rate protocol to a fully decentralized system with $MSTR.
- Immediate Integration: $MSTR will enable quick access to liquidity for NFTs like $PANDORA and $MNRCH.
The Bulk
MetaStreet will transition its governance token $MSTER to ERC404 as it enters its final phase of decentralization, giving control back to the users. This move is not just about tackling liquidity issues but also about exploring the synergy between NFTs and governance tokens.
ERC404's unique blend of characteristics from both ERC20 and NFT standards—such as liquidity, standardized contracts, and governance—"positions $MSTR to redefine NFT finance" claims MetaStreet.
Furthermore, the immediate compatibility of ERC404 tokens with MetaStreet's lending pools demonstrates a significant leap towards seamless liquidity access, showcased by the platforms rapid integration of $PANDORA and others.
❗Why It Matters
While ERC404 is new and experimental, the excitement surrounding it is no laughing matter. MetaStreet's willingness to experiment with the launch of its $MSTR token may further validate its existence and increase the velocity of adoption.
🎤 Platform Prose
Why is $MSTR going to ERC404? ERC404 is the natural progression of crypto, benefiting from both ERC20 and NFT characteristics: highly liquid, standardized contract size, high fixed income yield, coordinated governance, and many other cases not yet uncovered.MetaStreet
🔜 What's Next?
$MSTR is likely to come at the conclusion of MetaStreet's ASCEND XP events later this year.
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