PURSE has announced the introduction of ERC-404 for its development, marking a significant leap forward in the evolution of web3 loyalty rewards. In alignment with our commitment to the community and the future development of PURSE ERC404, the team proposes a burn of 10 billion BEP20 PURSE tokens (13.6% of the total supply).
This innovative token standard, ERC404, ingeniously merges the properties of ERC20 fungible tokens and ERC721 non-fungible tokens (NFTs), creating a new class of assets that are fungible and non-fungible depending on their state. By incorporating elements of both, PURSE ERC404 tokens offer unparalleled versatility and utility, catering to a wide range of use cases within the decentralized finance (DeFi) ecosystem.
This strategic token burn of BEP20 tokens and the adoption of ERC404 tokens align perfectly with our dedication to project growth and community involvement. This action potentially increases the utility of PURSE tokens as well as reduces the total supply.
We invite our community to engage in the upcoming vote on this proposal and join us as we shape the future of PURSE within the ERC404 framework. Stay tuned for further updates as we continue to innovate and push the boundaries of what is possible with digital assets.
What is ERC404?
ERC404 is an advanced token standard within the Ethereum blockchain, designed to offer enhanced functionalities and seamless integration with decentralized applications (dApps) and DeFi protocols. By upgrading PURSE to ERC404, we aim to unlock a new realm of possibilities for our users, including improved interoperability, scalability, and security. This transition signifies our commitment to staying at the forefront of innovation and providing the best possible experience for the PURSE community.
How to vote
The current DAO voting for governance proposal on Pundi X Chain works only on the desktop version.
- Go to https://starscan.io/pundix/proposals/3 with your desktop browser
- Connect wallet
- Authorize the connection in your wallet, and make sure you have enough $PUNDIX in your wallet for the gas fee. If you don’t have $PUNDIX on Pundi X Chain, you can use “f(x)Bridge” to send your $PUNDIX from the Ethereum Network to Pundi X Chain.
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After connecting to your wallet, select the proposal and cast your vote by choosing from the options set below: Yes/ No/ Abstain/ NoWithVeto
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Sign the transaction in your wallet, and you’re done!
The voting period is 7 days from now to March 15, 2024. The proposal will be passed if the quorum passes 40% before the voting period ends.
To learn more about how Pundi X DAO voting mechanism works, please read this article.
Thank you for your continued support as we embark on this exciting journey towards the next phase of PURSE development. Stay tuned for further updates and announcements as we work together to shape the innovative use cases of decentralized finance with PURSE ERC404.
