{"id":71518,"date":"2024-02-15T17:51:07","date_gmt":"2024-02-15T21:51:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=71518"},"modified":"2024-02-15T17:54:58","modified_gmt":"2024-02-15T21:54:58","slug":"trader-joe-launches-experimental-dn-404-token","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/trader-joe-launches-experimental-dn-404-token\/","title":{"rendered":"Trader Joe Launches Experimental DN-404 Token"},"content":{"rendered":"\n

Trader Joe, a decentralized exchange <\/a>(DEX), unveiled SHOE, a cryptocurrency that is built on the DN-404 standard.<\/p>\n\n\n\n

\"Trader
Trader Joe Launches Experimental DN-404 Token<\/figcaption><\/figure>\n\n\n\n

Similar to ERC-404, the DN-404 standard combines the advantages of NFTs (non-fungible tokens) and fungible tokens<\/a>. The quantity of SHOE tokens is 19,404. All 22,140 wallets of active Joepegs marketplace users and owners of NFT projects from the Joe Studios accelerator received tokens.<\/p>\n\n\n\n

\n

Unveiling: $SHOE\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> \ud83d\udc5e

Trader Joe is a Decentralized Exchange (DEX) that offers instant, low-cost token swaps, founded with the mission to build the best DeFi trading platform through innovation at the forefront of DeFi.

Today, Trader Joe unveils $SHOE\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>. A token based on the DN404\u2026 pic.twitter.com\/raJqPcAmuC<\/use><\/svg><\/span><\/a><\/p>— Trader Joe (@TraderJoe_xyz) February 14, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

The exchange stated that the asset is purportedly worthless and that it is not intended to be supported. The platform states that SHOE has a minimal cost of 1.14 AVAX ($48.6 at of this writing). <\/p>\n\n\n\n

As of the time of writing, the trading volume <\/a>for this position is 833.20 AVAX, or $35,603. ERC-20 and ERC-721 are combined into a single contract under the new standard. <\/p>\n\n\n\n

By doing this, you can draw in more liquidity while preserving the NFT's core characteristics. These tokens can be traded on marketplaces and decentralized exchanges.<\/p>\n\n\n\n

When the Pandora project was announced at the beginning of February, the new standard garnered extra attention. The ERC-404 trade volume crossed the $200 million mark in less than a week. <\/p>\n\n\n\n

On February 8, the price of the Pandora token<\/use><\/svg><\/span><\/a> shot up to $22,900. Based on statistics from CoinMarketCap, the asset is currently trading at about $16,800.<\/p>\n\n\n\n
\"Trader

Trader Joe unveils experimental DN-404 token – Source: CoinMarketCap<\/figcaption><\/figure>\n\n\n\n

The average price of gas on the Ethereum network<\/a> was 70 Gwei on February 9 (about $60 for a standard transaction). The number reached a record high of 377 Gwei at its peak, the highest since May 2023. The rise in demand for ERC-404 mostly caused this.<\/p>\n","protected":false},"excerpt":{"rendered":"

Trader Joe, a decentralized exchange (DEX), unveiled SHOE, a cryptocurrency that is built on the DN-404 standard. Similar to ERC-404, the DN-404 standard combines the advantages of NFTs (non-fungible tokens) and fungible tokens. The quantity of SHOE tokens is 19,404. All 22,140 wallets of active Joepegs marketplace users and owners of NFT projects from the […]<\/p>\n","protected":false},"author":43,"featured_media":71520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[17431,18437,16731],"class_list":["post-71518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-decentralized-exchange-2","tag-dn-404-token","tag-trader-joe"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/02\/croc_1708031680868.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=71518"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/71520"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=71518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=71518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=71518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}